Extradited former banker gets 4 years for accepting $2m bribes
2003-3-5
The former general manager of the Standard Bank London Limited's Hong Kong Representative Office, charged by the ICAC, was today (Wednesday) sentenced to four years' imprisonment at District Court for accepting more than HK$2 million in bribes for assista nce in obtaining credit facilities amounting to over US$50 million from the bank.
Peter Norman ELLIOTT, 51, who was earlier extradited from England to Hong Kong, was yesterday found guilty of five counts of accepting an advantage as an agent, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance.
In sentencing, Judge Esther Toh said an immediate custodial sentence was warranted in view of the defendant's breach of trust as well as the serious nature of the bribery offences.
The court heard that two companies, namely Mainland-incorporated Shenzhen Yiwen Industrial Company Limited and Hong Kong-incorporated Lia Heavy Industry Holdings Limited, applied to the bank separately for loans or credit facilities.
On separate occasions between 1994 and 1995, ELLIOTT had accepted about HK$2.19 million in bribes as rewards for assisting the two companies in obtaining loans or credit facilities totalling about US$53.8 million (about HK$419.6 million) from the bank.
ELLIOTT was arrested by the ICAC in Hong Kong in July 1996 for alleged bribery offences. In December the same year, he left Hong Kong and the Hong Kong court subsequently issued a warrant for his arrest.
ELLIOTT was arrested by the Metropolitan Police in London on August 21, 1997 on behalf of the ICAC.
After fighting extradition for four years, ELLIOTT voluntarily surrendered to the ICAC, and was finally extradited to Hong Kong on May 1, 2002.
The Standard Bank London Limited had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by Nicholas Adams on a fiat, assisted by ICAC officer Frederick Simmons.
Peter Norman ELLIOTT, 51, who was earlier extradited from England to Hong Kong, was yesterday found guilty of five counts of accepting an advantage as an agent, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance.
In sentencing, Judge Esther Toh said an immediate custodial sentence was warranted in view of the defendant's breach of trust as well as the serious nature of the bribery offences.
The court heard that two companies, namely Mainland-incorporated Shenzhen Yiwen Industrial Company Limited and Hong Kong-incorporated Lia Heavy Industry Holdings Limited, applied to the bank separately for loans or credit facilities.
On separate occasions between 1994 and 1995, ELLIOTT had accepted about HK$2.19 million in bribes as rewards for assisting the two companies in obtaining loans or credit facilities totalling about US$53.8 million (about HK$419.6 million) from the bank.
ELLIOTT was arrested by the ICAC in Hong Kong in July 1996 for alleged bribery offences. In December the same year, he left Hong Kong and the Hong Kong court subsequently issued a warrant for his arrest.
ELLIOTT was arrested by the Metropolitan Police in London on August 21, 1997 on behalf of the ICAC.
After fighting extradition for four years, ELLIOTT voluntarily surrendered to the ICAC, and was finally extradited to Hong Kong on May 1, 2002.
The Standard Bank London Limited had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by Nicholas Adams on a fiat, assisted by ICAC officer Frederick Simmons.