Former general manager admits $1.4m theft
2001-2-2
A former general manager of a printing products manufacturing company admitted at District Court today (Friday) that he had stolen $1,480,000 from the company and its subsidiaries with falsified invoices.
The falsified invoices showed that consultancy, manpower and marketing advisory services as well as products were provided to the company and its subsidiaries by other shell companies under his control, but no such services and products had been supplied.
Poon Nang-sau, James, 51, former associated director and general manager-accounting of Toppan Forms (HK) Limited (Toppan), today pleaded guilty to seven counts of theft and two counts of false accounting.
The prosecution offered no evidence against the remaining one count of false accounting and three counts of theft.
Judge Line adjourned sentencing until February 19 this year, pending a background report. The defendant was remanded in the custody of the Correctional Services Department.
The case arose from a corruption complaint, which alleged that Poon might have offered bribes to companies in return for falsifying invoices. ICAC enquiries revealed the offences.
Toppan, formerly known as Toppan Moore (HK) Limited, manufactures printing products and trades in computer components.
Poon was also a former director of Well United Supply Limited (Well United) and Everwell Security Printing Company Limited (Everwell Security Printing), both subsidiaries of Toppan Moore.
The court heard that Poon had instructed his manager to transfer a total of $788,000 from Toppan to the bank account of Karrock International Limited (Karrock), a company wholly owned by Poon and his wife.
The sum was purportedly for consultancy services provided by Karrock to Well United, but Karrock had neither any business with nor provided any consultancy services to Well United.
Poon had also falsified invoices in the name of Bonsway Limited (Bonsway) to Toppan, Well United and Everwell Security Printing, demanding a total payment of $692,000 for products and consultancy, manpower or marketing advisory services provided by Bonswa y to the three companies.
The total sums of $692,000 were deposited into the bank account of Bonsway, a company under Poon's control, although no such products and services had been provided.
The offences took place between August 1994 and July 1997.
The prosecution was today represented by Senior Government Counsel Alex Lee, assisted by ICAC officer Alan Wong.
The falsified invoices showed that consultancy, manpower and marketing advisory services as well as products were provided to the company and its subsidiaries by other shell companies under his control, but no such services and products had been supplied.
Poon Nang-sau, James, 51, former associated director and general manager-accounting of Toppan Forms (HK) Limited (Toppan), today pleaded guilty to seven counts of theft and two counts of false accounting.
The prosecution offered no evidence against the remaining one count of false accounting and three counts of theft.
Judge Line adjourned sentencing until February 19 this year, pending a background report. The defendant was remanded in the custody of the Correctional Services Department.
The case arose from a corruption complaint, which alleged that Poon might have offered bribes to companies in return for falsifying invoices. ICAC enquiries revealed the offences.
Toppan, formerly known as Toppan Moore (HK) Limited, manufactures printing products and trades in computer components.
Poon was also a former director of Well United Supply Limited (Well United) and Everwell Security Printing Company Limited (Everwell Security Printing), both subsidiaries of Toppan Moore.
The court heard that Poon had instructed his manager to transfer a total of $788,000 from Toppan to the bank account of Karrock International Limited (Karrock), a company wholly owned by Poon and his wife.
The sum was purportedly for consultancy services provided by Karrock to Well United, but Karrock had neither any business with nor provided any consultancy services to Well United.
Poon had also falsified invoices in the name of Bonsway Limited (Bonsway) to Toppan, Well United and Everwell Security Printing, demanding a total payment of $692,000 for products and consultancy, manpower or marketing advisory services provided by Bonswa y to the three companies.
The total sums of $692,000 were deposited into the bank account of Bonsway, a company under Poon's control, although no such products and services had been provided.
The offences took place between August 1994 and July 1997.
The prosecution was today represented by Senior Government Counsel Alex Lee, assisted by ICAC officer Alan Wong.