Two fraudsters jailed for swindling $14 million

2005-4-25

Two persons, charged by the ICAC, were today (Monday) jailed at District Court for their roles in deceiving $14 million from a proprietor of a garment manufacturing company on various pretexts involving a barrister and the Chief Executive's Office.

Fong Kam-yee, 47, received a jail term of four years and eight months, while So Kwong-tak, 34, was jailed for four years.

Fong earlier pleaded guilty to one count of conspiracy to defraud, while So was today found guilty of the same offence.

In sentencing, Judge Longley said lengthy jail terms had to be imposed in view of the seriousness of the offence, which lasted a long period of time.

The judge also commended the ICAC officers in charge of the case for their meticulous preparation of court documents, noting that the ICAC was a valuable law enforcement agency.

The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the fraudulent scheme.

The court heard that after getting acquainted with a proprietor of a garment manufacturing company, the defendants instigated a scheme to deceive money from her and her husband by fabricating various pretexts.

Between October 1999 and February 2003, the defendants had falsely represented to the couple that the assets of Fong's company, worth $500 million, had been frozen by the ICAC, and that they were in urgent need of money for employing a barrister to handle the legal proceedings in relation to the frozen assets.

They also falsely claimed that the matter had been referred to the Stock Exchange of Hong Kong and the Chief Executive's Office for resolution.

As a result of the false representations, the couple was deceived into paying $14 million to the defendants, the court was told.

The prosecution was today represented by Ronald Mayne, counsel on fiat, assisted by ICAC officer Kenneth Choi.
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