Ex-senior bank manager returns from Canada to face ICAC charges over alleged credit scam
2003-9-5
A former senior credit manager of a bank, wanted by the ICAC, voluntarily returned from Canada to Hong Kong this (Friday) afternoon to face bribery charges in relation to a HK$460 million Letters of Credit (L/C) scam.
Lam Tze-leung, 51, formerly employed by Hang Seng Bank Limited, was arrested by the Royal Canadian Mounted Police (RCMP) in Toronto on June 4, 2003 on ICAC's behalf.
Lam was alleged to have accepted bribes over the granting of credit facilities to two companies whilst employed by the bank. He left Hong Kong in August 1998 shortly before the ICAC investigation commenced.
An arrest warrant was then issued by a Hong Kong magistrate. On behalf of the ICAC, the Mutual Legal Assistance Unit of the Department of Justice made a request to their Canadian counterpart for the arrest of Lam in Canada.
After his arrest by RCMP, Lam waived extradition proceedings and consented to return to Hong Kong to face prosecution. Accompanied by ICAC officers, he boarded a flight for Hong Kong yesterday.
Lam will be charged with seven counts of accepting an advantage as an agent, contrary to Sections 9(1)(a) and 9(1)(b) of the Prevention of Bribery Ordinance, and four of conspiracy to defraud.
He will be brought to Eastern Magistracy at 9:30 am tomorrow (Saturday) for mention.
The seven bribery charges allege that while employed by Hang Seng Bank, Lam had accepted two Rolex watches and bribe payments, totalling HK$200,000 and Can$10,000 (about HK$56,000).
The alleged advantages were said to be rewards for Lam facilitating the granting of credit arrangements by Hang Seng Bank to Au Kiang International Company Limited (Au Kiang) and Dero Enterprises Limited (Dero), and showing favour to the two companies in the granting and maintaining of credit arrangements.
The remaining four charges allege Lam of conspiring with other persons to defraud Hang Seng Bank in relation to applications by Au Kiang and Dero for L/C facilities totalling HK$462 million based on bogus commercial transactions.
The alleged bribery and conspiracy offences took place between May 13, 1994 and April 30, 1998.
Lam Tze-leung, 51, formerly employed by Hang Seng Bank Limited, was arrested by the Royal Canadian Mounted Police (RCMP) in Toronto on June 4, 2003 on ICAC's behalf.
Lam was alleged to have accepted bribes over the granting of credit facilities to two companies whilst employed by the bank. He left Hong Kong in August 1998 shortly before the ICAC investigation commenced.
An arrest warrant was then issued by a Hong Kong magistrate. On behalf of the ICAC, the Mutual Legal Assistance Unit of the Department of Justice made a request to their Canadian counterpart for the arrest of Lam in Canada.
After his arrest by RCMP, Lam waived extradition proceedings and consented to return to Hong Kong to face prosecution. Accompanied by ICAC officers, he boarded a flight for Hong Kong yesterday.
Lam will be charged with seven counts of accepting an advantage as an agent, contrary to Sections 9(1)(a) and 9(1)(b) of the Prevention of Bribery Ordinance, and four of conspiracy to defraud.
He will be brought to Eastern Magistracy at 9:30 am tomorrow (Saturday) for mention.
The seven bribery charges allege that while employed by Hang Seng Bank, Lam had accepted two Rolex watches and bribe payments, totalling HK$200,000 and Can$10,000 (about HK$56,000).
The alleged advantages were said to be rewards for Lam facilitating the granting of credit arrangements by Hang Seng Bank to Au Kiang International Company Limited (Au Kiang) and Dero Enterprises Limited (Dero), and showing favour to the two companies in the granting and maintaining of credit arrangements.
The remaining four charges allege Lam of conspiring with other persons to defraud Hang Seng Bank in relation to applications by Au Kiang and Dero for L/C facilities totalling HK$462 million based on bogus commercial transactions.
The alleged bribery and conspiracy offences took place between May 13, 1994 and April 30, 1998.