Businessman jailed for three years for offering bribes to secure credit facilities
2002-5-24
A merchant was today (Friday) sentenced to three years' imprisonment at District Court for conspiracy to offer bribes and using false documents to secure credit facilities and a loan.
Chong Ching-yuen, 52, was today convicted of one count of conspiracy to offer advantages, while pleading guilty to one of using copies of false instruments. The prosecution offered no evidence to the remaining count of offering an advantage against him.
Judge Barnes said corruption offences must not be tolerated in Hong Kong as a commercial centre.
The court heard that Chong was the person in charge of Grand Youth Company Limited (Grand Youth) and Ever Brilliant Enterprises Limited (Ever Brilliant).
Between February 1994 and July 1996, Chong had conspired with Li Chi-hung, an assistant manager of Nanyang Commercial Bank, to offer Li advantages, including part of a $950,000 loan and $11,800 worth of air passages between Hong Kong and Shanghai.
The advantages were for Li to assist Grand Youth and Ever Brilliant in their applications for credit facilities and expedite the subsequent advances to the two companies.
The court also heard that in January 1996, Chong had used two copies of false documents to apply for a $950,000 loan from SPC Credit Limited.
The prosecution was today represented by Albert Luk on a fiat, assisted by ICAC officer Charlie Kwong.
Chong Ching-yuen, 52, was today convicted of one count of conspiracy to offer advantages, while pleading guilty to one of using copies of false instruments. The prosecution offered no evidence to the remaining count of offering an advantage against him.
Judge Barnes said corruption offences must not be tolerated in Hong Kong as a commercial centre.
The court heard that Chong was the person in charge of Grand Youth Company Limited (Grand Youth) and Ever Brilliant Enterprises Limited (Ever Brilliant).
Between February 1994 and July 1996, Chong had conspired with Li Chi-hung, an assistant manager of Nanyang Commercial Bank, to offer Li advantages, including part of a $950,000 loan and $11,800 worth of air passages between Hong Kong and Shanghai.
The advantages were for Li to assist Grand Youth and Ever Brilliant in their applications for credit facilities and expedite the subsequent advances to the two companies.
The court also heard that in January 1996, Chong had used two copies of false documents to apply for a $950,000 loan from SPC Credit Limited.
The prosecution was today represented by Albert Luk on a fiat, assisted by ICAC officer Charlie Kwong.