Former bank officer in alleged $55M loan bribery scam
2000-1-12
A former executive of a local bank was today (Wednesday) charged by the ICAC for allegedly accepting a $200,000 bribe for assisting an engineering company to apply for a $55 million loan.
Chung Kwai-kan, 42, former Senior Officer of Yien Yieh Commercial Bank Limited, will appear in San Po Kong Court at 9:30 am tomorrow (Thursday) .
Chung faces one count of accepting $200,000 from Tong Tai-yun on April 10, 1996 as a reward for assisting a loan application from Tai Hing (Engineers & Builders) Limited (Tai Hing), contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance.
The case originated from a corruption complaint alleging that a bank official had accepted advantages in return for assistance in loan applications.
ICAC enquiries revealed that Chung, attached to the bank ' s Hung Hom Branch, was responsible for handling a loan application from Tai Hing, an engineering company engaged in construction projects.
Chung was alleged to have accepted an advantage in return for assisting Tai Hing in applying for a loan. Tai Hing was subsequently granted a credit line of about $55 million.
Chung is currently on ICAC bail, pending court appearance tomorrow.
Chung Kwai-kan, 42, former Senior Officer of Yien Yieh Commercial Bank Limited, will appear in San Po Kong Court at 9:30 am tomorrow (Thursday) .
Chung faces one count of accepting $200,000 from Tong Tai-yun on April 10, 1996 as a reward for assisting a loan application from Tai Hing (Engineers & Builders) Limited (Tai Hing), contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance.
The case originated from a corruption complaint alleging that a bank official had accepted advantages in return for assistance in loan applications.
ICAC enquiries revealed that Chung, attached to the bank ' s Hung Hom Branch, was responsible for handling a loan application from Tai Hing, an engineering company engaged in construction projects.
Chung was alleged to have accepted an advantage in return for assisting Tai Hing in applying for a loan. Tai Hing was subsequently granted a credit line of about $55 million.
Chung is currently on ICAC bail, pending court appearance tomorrow.