Ex-dealer charged for allegedly stealing $1.6m of shares from clients
2001-8-23
A former dealer of a securities company was today (Thursday) charged by the ICAC for allegedly stealing $1.6 million worth of shares and warrant shares in various companies from clients.
Ho Lee Lai-kuen, 56, of Ricofull Securities Limited, will appear in Eastern Court at 9:30 am tomorrow (Friday) on 15 holding charges of theft.
The case arose from a corruption report, alleging that the dealer had used false documents to mislead her employer and clients.
ICAC enquiries revealed that the defendant had stolen a large amount of shares from her clients' accounts to make up her own losses in share speculation.
The defendant had allegedly falsified transaction documents and account statements to cover up the scam believed to involve more than $10 million.
The holding charges alleged that between January 28, 1997 and October 31, 2000, Ho Lee Lai-kuen had stolen a total of 443,800 shares and 170,000 warrant shares of various companies from five clients.
The companies included First Pacific Bank Limited, Hang Seng Bank Limited, Cheung Kong (Holdings) Limited, Sino Land Company Limited, Pacific Century Cyberworks Limited, CITIC Pacific Limited, Henderson China Holdings Limited, Wharf (Holdings) Limited, HS BC Holdings PLC, and China Mobile (Hong Kong) Limited.
The total value of the stolen shares and warrant shares was estimated to be $1,625,672.76 at the time of the alleged offences.
The defendant has been released on bail, pending her court appearance tomorrow.
Ho Lee Lai-kuen, 56, of Ricofull Securities Limited, will appear in Eastern Court at 9:30 am tomorrow (Friday) on 15 holding charges of theft.
The case arose from a corruption report, alleging that the dealer had used false documents to mislead her employer and clients.
ICAC enquiries revealed that the defendant had stolen a large amount of shares from her clients' accounts to make up her own losses in share speculation.
The defendant had allegedly falsified transaction documents and account statements to cover up the scam believed to involve more than $10 million.
The holding charges alleged that between January 28, 1997 and October 31, 2000, Ho Lee Lai-kuen had stolen a total of 443,800 shares and 170,000 warrant shares of various companies from five clients.
The companies included First Pacific Bank Limited, Hang Seng Bank Limited, Cheung Kong (Holdings) Limited, Sino Land Company Limited, Pacific Century Cyberworks Limited, CITIC Pacific Limited, Henderson China Holdings Limited, Wharf (Holdings) Limited, HS BC Holdings PLC, and China Mobile (Hong Kong) Limited.
The total value of the stolen shares and warrant shares was estimated to be $1,625,672.76 at the time of the alleged offences.
The defendant has been released on bail, pending her court appearance tomorrow.