Seven months' jail for company proprietor offering bribes to listed company's former manager over property deals
2002-9-23
A proprietor of a property agency, charged by the ICAC, was today (Monday) sentenced to seven months' imprisonment at District Court for offering bribes totalling $525,000 to a listed company's former executive in relation to property investment of the co mpany's subsidiary.
Wong Yuk-sim, 51, proprietor of Chung Shun Property Agency (Chung Shun), was earlier found guilty of one count of offering an advantage to Chau Chok-ming for causing Easyknit Properties Holdings Limited (Easyknit Properties) to achieve the successful purc hase of two properties.
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Easyknit Properties is a subsidiary of listed company Easyknit International Holdings Limited (Easyknit). Chau was a project manager of Easyknit's Property Division when the offence took place in 1996.
In sentencing, Judge Toh said a suspended sentence was not appropriate in view of the seriousness of the bribery offence.
The judge added that the starting point of nine months was reduced to seven months, taking into account the defendant's age and her relatively minor role in the bribery scam.
The court heard that in mid 1996, Chau entrusted the defendant to look for properties in Mongkok on behalf of Easyknit.
The defendant approached a shareholder and director of a company, which was the registered owner of two properties in Sai Yeung Choi Street, Mongkok.
The owner agreed to sell the properties to Easyknit Properties for $105 million.
To induce Chau to recommend Chung Shun to handle the transactions, the defendant offered to share her commission with Chau upon the successful purchase of the properties.
Acting on the instruction of the defendant, the owner of the properties subsequently issued a cheque in the amount of $525,000 in favour of Focus Design Consultant, a company owned by Chau.
Chau, 45, was earlier charged in connection with the case. He pleaded guilty to two counts of accepting bribes from Wong and another former property agent, and was sentenced to 18 months' imprisonment.
Easyknit offered full assistance to the ICAC during its investigation.
The prosecution was today represented by Joseph Pethes on a fiat, assisted by ICAC officer Tim So.
Wong Yuk-sim, 51, proprietor of Chung Shun Property Agency (Chung Shun), was earlier found guilty of one count of offering an advantage to Chau Chok-ming for causing Easyknit Properties Holdings Limited (Easyknit Properties) to achieve the successful purc hase of two properties.
.
Easyknit Properties is a subsidiary of listed company Easyknit International Holdings Limited (Easyknit). Chau was a project manager of Easyknit's Property Division when the offence took place in 1996.
In sentencing, Judge Toh said a suspended sentence was not appropriate in view of the seriousness of the bribery offence.
The judge added that the starting point of nine months was reduced to seven months, taking into account the defendant's age and her relatively minor role in the bribery scam.
The court heard that in mid 1996, Chau entrusted the defendant to look for properties in Mongkok on behalf of Easyknit.
The defendant approached a shareholder and director of a company, which was the registered owner of two properties in Sai Yeung Choi Street, Mongkok.
The owner agreed to sell the properties to Easyknit Properties for $105 million.
To induce Chau to recommend Chung Shun to handle the transactions, the defendant offered to share her commission with Chau upon the successful purchase of the properties.
Acting on the instruction of the defendant, the owner of the properties subsequently issued a cheque in the amount of $525,000 in favour of Focus Design Consultant, a company owned by Chau.
Chau, 45, was earlier charged in connection with the case. He pleaded guilty to two counts of accepting bribes from Wong and another former property agent, and was sentenced to 18 months' imprisonment.
Easyknit offered full assistance to the ICAC during its investigation.
The prosecution was today represented by Joseph Pethes on a fiat, assisted by ICAC officer Tim So.