Businessman faces court for alleged $2.3M cheque discounting scam
2000-3-20
A businessman, arrested by the ICAC at the Hong Kong airport last Friday after arriving from Taiwan, appeared in Eastern Court today (Monday) for his alleged involvement in a $2.3 million cheque discounting scam.
No plea was taken. Magistrate Mr Ian Candy adjourned the case until March 28, 2000 for mention, and remanded the defendant in the custody of the Correctional Services Department.
Lam Tai-hei, alias Lin Ta-chi, 56, faced a total of 16 counts of theft through the furnishing of false information.
The charges alleged that Lam had dishonestly furnished information to Wayfoong Credit Limited (Wayfoong) for the discounting by Wayfoong of post-dated cheques totalling $2,316,185.10, to be drawn by various companies on their accounts maintained with a nu mber of banks.
Lam was alleged to have produced to Wayfoong false covering letters and false invoices of Lam Foo Hing Co., which purported to evidence genuine sales of jewellery from Lam Foo Hing Co. to the companies.
The companies included Geoff Co., Joseph Jewellery Factory, Hoi Wah Jewellery Co., Projecting Trading Company, Ace Gems Factory, Hong Kwong Jewellery Co., Hong Kong Art Jewelry Co. and Lam's Jewelry Manufactory.
The banks were the Grindlays Dao Heng Bank Ltd., the China & South Sea Bank Ltd., the Bank of East Asia Ltd., the Barclays Bank International Ltd., the Bank of America, the Rainer International Bank, and the Union Bank of Hong Kong Ltd.
The alleged offences took place between November 13, 1982 and January 14, 1983.
The case originated from a complaint alleging that Lam might have bribed bank officials in a cheque discounting scam. The corruption allegation was found to be unsubstantiated.
During the ICAC investigation of the case, Lam fled Hong Kong in June 1983. A warrant for his arrest was obtained from a magistrate in 1986.
The prosecution was today represented by ICAC officer Martin Swift.
No plea was taken. Magistrate Mr Ian Candy adjourned the case until March 28, 2000 for mention, and remanded the defendant in the custody of the Correctional Services Department.
Lam Tai-hei, alias Lin Ta-chi, 56, faced a total of 16 counts of theft through the furnishing of false information.
The charges alleged that Lam had dishonestly furnished information to Wayfoong Credit Limited (Wayfoong) for the discounting by Wayfoong of post-dated cheques totalling $2,316,185.10, to be drawn by various companies on their accounts maintained with a nu mber of banks.
Lam was alleged to have produced to Wayfoong false covering letters and false invoices of Lam Foo Hing Co., which purported to evidence genuine sales of jewellery from Lam Foo Hing Co. to the companies.
The companies included Geoff Co., Joseph Jewellery Factory, Hoi Wah Jewellery Co., Projecting Trading Company, Ace Gems Factory, Hong Kwong Jewellery Co., Hong Kong Art Jewelry Co. and Lam's Jewelry Manufactory.
The banks were the Grindlays Dao Heng Bank Ltd., the China & South Sea Bank Ltd., the Bank of East Asia Ltd., the Barclays Bank International Ltd., the Bank of America, the Rainer International Bank, and the Union Bank of Hong Kong Ltd.
The alleged offences took place between November 13, 1982 and January 14, 1983.
The case originated from a complaint alleging that Lam might have bribed bank officials in a cheque discounting scam. The corruption allegation was found to be unsubstantiated.
During the ICAC investigation of the case, Lam fled Hong Kong in June 1983. A warrant for his arrest was obtained from a magistrate in 1986.
The prosecution was today represented by ICAC officer Martin Swift.