18 months' jail for listed company's former manager accepting $2.26m in illegal kickbacks
2001-10-31
A former manager of the public listed Easyknit International Holdings Limited (Easyknit), charged by the ICAC, was today (Wednesday) sentenced to 18 months' imprisonment for accepting $2.26 million in bribes in relation to property investment of the liste d company and its subsidiaries.
Chau Chok-ming, 45, was the project manager of Easyknit's Property Division when the offences took place.
Chau today pleaded guilty to two of the four bribery charges, while the remaining two were taken into consideration by District Court Judge Maggie Poon in sentencing.
The judge also said she had taken into account the defendant's guilty plea.
Chau, while employed by Easyknit, was responsible for the company's real estate development and acquisition of properties for re-development.
The court heard that between in 1996 and 1997, Chau had entrusted Wong Yuk-sim and Ng Kai-ming, who were property agents respectively of Chung Shun Property Agency and Chong Hing Group, to purchase three properties in Sai Yeung Choi Street and Fa Yuen Str eet on behalf of Easyknitâs three subsidiaries.
The three properties were respectively worth $105 million, $192 million and $155.5 million.
Chau reached an agreement with Wong and Ng that for each property transaction, the two property agents would pay him 0.5% of the property purchase price as a reward for him to recommend them to handle the purchase.
The court heard that on four occasions between December 4, 1996 and December 18, 1997, Chau had accepted a total of $2,262,500 in bribes from Wong and Ng.
Easyknit prohibits its staff from accepting advantages in connection with their official duties.
The prosecution was today represented by Senior Government Counsel Martin Hui, assisted by ICAC officer Tim So.
Chau Chok-ming, 45, was the project manager of Easyknit's Property Division when the offences took place.
Chau today pleaded guilty to two of the four bribery charges, while the remaining two were taken into consideration by District Court Judge Maggie Poon in sentencing.
The judge also said she had taken into account the defendant's guilty plea.
Chau, while employed by Easyknit, was responsible for the company's real estate development and acquisition of properties for re-development.
The court heard that between in 1996 and 1997, Chau had entrusted Wong Yuk-sim and Ng Kai-ming, who were property agents respectively of Chung Shun Property Agency and Chong Hing Group, to purchase three properties in Sai Yeung Choi Street and Fa Yuen Str eet on behalf of Easyknitâs three subsidiaries.
The three properties were respectively worth $105 million, $192 million and $155.5 million.
Chau reached an agreement with Wong and Ng that for each property transaction, the two property agents would pay him 0.5% of the property purchase price as a reward for him to recommend them to handle the purchase.
The court heard that on four occasions between December 4, 1996 and December 18, 1997, Chau had accepted a total of $2,262,500 in bribes from Wong and Ng.
Easyknit prohibits its staff from accepting advantages in connection with their official duties.
The prosecution was today represented by Senior Government Counsel Martin Hui, assisted by ICAC officer Tim So.