Former bank executive charged in $312m loan bribery case
2000-1-27
A former Assistant General Manager of the Bank of China (BOC) was charged by the ICAC this (Thursday) morning for allegedly accepting over $3.6 million in bribes for granting a $312 million (US$40 million) bank loan to an investment company.
The investment company director was also charged with offering bribes to three employees of BOC, including its former Assistant General Manager.
Li Defan, 48, former employee of BOC, and Fan Yingchao, 47, director and shareholder of Shing Hung Investments Limited (SHIL), have been released on ICAC bail. They will appear at Eastern Court at 9:30 am tomorrow (Friday) to face a total of six charges.
Li faced two counts of accepting bribes totalling $3,696,706 from Fan for assisting SHIL to obtain the US$40 million loan from BOC while Fan was charged with two counts of offering the bribe payments to Li. The alleged offences took place on October 6, 1 997.
Fan further faced two counts of offering bribes to two other BOC staff.
One of the charges alleged that he had offered an unspecified amount of HK$1,000 banknotes in February 1997 to a manager of BOC, Tse Shu-sun, also for assistance over a loan application from SHIL.
The remaining charge alleged that Fan had offered a $3,000 gift cheque to an officer of BOC, Chan Yim-mui, for the same reason in April 1997.
Investigations revealed that Tse and Chan had not accepted the bribes.
The ICAC has received full assistance from BOC in investigating the case.
The case originated from a complaint from the public, alleging that a senior bank executive had accepted advantages from an applicant for approving a huge loan. The ICAC arrested the two defendants in May last year.
The investment company director was also charged with offering bribes to three employees of BOC, including its former Assistant General Manager.
Li Defan, 48, former employee of BOC, and Fan Yingchao, 47, director and shareholder of Shing Hung Investments Limited (SHIL), have been released on ICAC bail. They will appear at Eastern Court at 9:30 am tomorrow (Friday) to face a total of six charges.
Li faced two counts of accepting bribes totalling $3,696,706 from Fan for assisting SHIL to obtain the US$40 million loan from BOC while Fan was charged with two counts of offering the bribe payments to Li. The alleged offences took place on October 6, 1 997.
Fan further faced two counts of offering bribes to two other BOC staff.
One of the charges alleged that he had offered an unspecified amount of HK$1,000 banknotes in February 1997 to a manager of BOC, Tse Shu-sun, also for assistance over a loan application from SHIL.
The remaining charge alleged that Fan had offered a $3,000 gift cheque to an officer of BOC, Chan Yim-mui, for the same reason in April 1997.
Investigations revealed that Tse and Chan had not accepted the bribes.
The ICAC has received full assistance from BOC in investigating the case.
The case originated from a complaint from the public, alleging that a senior bank executive had accepted advantages from an applicant for approving a huge loan. The ICAC arrested the two defendants in May last year.