Court of Appeal upholds bank reference fraud conviction
2001-10-16
The Court of Appeal today (Tuesday) dismissed the appeals against their conviction and sentence by a company director and a former manager of the Bank of China (BOC), who were convicted in connection with a bank reference fraud early this year.
Pun Wai-hei, 42, director and shareholder of C K Economic Development Limited (CKEDL), and Pau Cheong-fu, 49, former manager of the BOC's Queen's Road East Sub-Branch, were each jailed for 21 months in January this year. CKEDL deals in real estate invest ments on the Mainland.
Pun and Pau were found guilty of one count of conspiracy to defraud and an alternative charge of conspiracy to use a document with intent to deceive his principal.
In handing down the judgement today, Mr Justice Woo ruled that the conviction of the two defendants by the trial judge was sound and safe, while the sentence imposed on Pau was appropriate.
The Appeal Court judge also agreed that this case had brought adverse impact on the registration system of the joint ventures in the Mainland, and given a serious blow to the reputation of Hong Kong as an international commercial city and a financial cent re.
Pun and Pau, together with CKEDL former manager Luo Wei-wen, had plotted to cause the BOC to issue an inaccurate reference letter for submission to the Guangzhou Industrial and Commercial Administration Bureau, certifying that CKEDL's bank account had an eight-digit balance.
A cheque for $12,500,000, drawn from CKEDL's account with the Nanyang Commercial Bank Limited, was deposited into CKEDL's account with the BOC on August 13, 1998.
Pun asked Luo to apply for a bank reference from the BOC with a low eight-digit figure, knowing that there were insufficient funds in CKEDL's account with the BOC.
But Pau instructed his subordinates to include the sum of $12,500,000 in the bank reference.
Subsequently, the cheque for $12,500,000 was dishonoured by the Nanyang Commercial Bank.
Pun lodged an appeal against conviction, while Pau appealed against conviction and sentence.
The appeals were heard by Chief Judge Mr Justice Leong, Mr Justice Woo and Mr Justice Tong.
Luo, 44, received a jail sentence of 15 months for his role in the case, but he did not lodge an appeal.
Pun Wai-hei, 42, director and shareholder of C K Economic Development Limited (CKEDL), and Pau Cheong-fu, 49, former manager of the BOC's Queen's Road East Sub-Branch, were each jailed for 21 months in January this year. CKEDL deals in real estate invest ments on the Mainland.
Pun and Pau were found guilty of one count of conspiracy to defraud and an alternative charge of conspiracy to use a document with intent to deceive his principal.
In handing down the judgement today, Mr Justice Woo ruled that the conviction of the two defendants by the trial judge was sound and safe, while the sentence imposed on Pau was appropriate.
The Appeal Court judge also agreed that this case had brought adverse impact on the registration system of the joint ventures in the Mainland, and given a serious blow to the reputation of Hong Kong as an international commercial city and a financial cent re.
Pun and Pau, together with CKEDL former manager Luo Wei-wen, had plotted to cause the BOC to issue an inaccurate reference letter for submission to the Guangzhou Industrial and Commercial Administration Bureau, certifying that CKEDL's bank account had an eight-digit balance.
A cheque for $12,500,000, drawn from CKEDL's account with the Nanyang Commercial Bank Limited, was deposited into CKEDL's account with the BOC on August 13, 1998.
Pun asked Luo to apply for a bank reference from the BOC with a low eight-digit figure, knowing that there were insufficient funds in CKEDL's account with the BOC.
But Pau instructed his subordinates to include the sum of $12,500,000 in the bank reference.
Subsequently, the cheque for $12,500,000 was dishonoured by the Nanyang Commercial Bank.
Pun lodged an appeal against conviction, while Pau appealed against conviction and sentence.
The appeals were heard by Chief Judge Mr Justice Leong, Mr Justice Woo and Mr Justice Tong.
Luo, 44, received a jail sentence of 15 months for his role in the case, but he did not lodge an appeal.