A former senior executive of the then China and South Sea Bank Limited was today (Wednesday) charged by the ICAC with allegedly accepting $460,000 in bribes in relation to bank loans granted to two companies.

Ng Sai-wing, 46, former Deputy General Manager of China and South Sea Bank Limited, will appear at Eastern Magistracy at 9:30 am tomorrow (Thursday), facing four charges under the Prevention of Bribery Ordinance.

Ng was arrested by the ICAC in a corruption inquiry in June last year.

Three of the charges allege Ng of accepting bribe payments of $380,000 and $80,000 in total respectively from two directors of different companies in connection with matters relating to credit facilities and mortgage loans which the two companies had with the bank.

The alleged bribery offences took place between January and April 1999.

Ng was further charged with one count of wilfully making a false statement in relation to his liabilities on August 29, 2003, in answer to a notice issued by the ICAC under Section 14(1) of the Prevention of Bribery Ordinance.

Ng has been granted bail by the ICAC, pending his court appearance tomorrow.