A couple guilty of bribing ex-bank officer to grant US$17m loans
2005-7-20
A couple, charged by the ICAC, was today (Wednesday) convicted at District Court of offering about HK$1 million in bribes to a former bank officer for defrauding the bank of loans totalling US$17 million with standby Letters of Credit (L/Cs).
Wong Mei-lan, 41, was found guilty of a total of 11 offences, including one count of conspiracy to offer advantages to an agent, two of offering an advantage to an agent, four of conspiracy to defraud, three of obtaining pecuniary advantages by deception, and one of attempting to obtain pecuniary advantages by deception.
Her husband, Tsang Tze-bun, 43, was convicted of two counts of conspiracy to defraud, and two of obtaining pecuniary advantages by deception.
Deputy Judge Browne adjourned the case until tomorrow (Thursday) for sentencing, and remanded the defendants in the custody of the Correctional Services Department.
The court heard that at the time of the offences, Wong and Tsang respectively controlled two British Virgin Islands-registered companies - Waymax Holdings Inc. (“Waymax”) and Chinapro Pacific Limited (“Chinapro”).
Between October and December 1998, Wong had offered HK$643,387.50 and HK$257,022.50 to a former Head of the Credit Department (“former bank officer”) of BNP Paribas Hong Kong Branch (formerly known as Banque Nationale de Paris Hong Kong Branch (“BNP”) as rewards for the latter to process applications for credit facilities for Waymax and Chinapro respectively.
Wong had also conspired with the former bank officer to offer the latter a reward at the rate of one per cent or half per cent of the amount of the credit facilities granted by BNP for processing the two applications.
The court also heard that between October 1998 and August 1999, Wong had conspired with the former bank officer to defraud BNP by dishonestly representing that two standby L/Cs issued respectively by two Bosnia banks - SAB Banka d.o.o. Sarajevo and Soko K omerc Bank (“Soko”) - were genuine.
Wong and Tsang were also found guilty of conspiring with the former bank officer and other persons to defraud BNP between November 1998 and August 1999 by dishonestly representing that two standby L/Cs issued respectively by GSP International Bank Limited , a bank at a South Pacific island Vanuatu, and Soko were genuine.
“This investigation, which arose from a corruption complaint, has demonstrated the increasing complexity and transnational nature of corruption cases,” an ICAC spokesman said.
“Apart from examining a huge amount of documents, investigators had spent three years in gathering evidence locally and overseas. Witnesses from Bosnia, Vanuatu, the United States and France were called to testify during the trial.”
The prosecution was today represented by Roderick Wu, counsel on fiat, assisted by ICAC officer Johnny Yau.
Wong Mei-lan, 41, was found guilty of a total of 11 offences, including one count of conspiracy to offer advantages to an agent, two of offering an advantage to an agent, four of conspiracy to defraud, three of obtaining pecuniary advantages by deception, and one of attempting to obtain pecuniary advantages by deception.
Her husband, Tsang Tze-bun, 43, was convicted of two counts of conspiracy to defraud, and two of obtaining pecuniary advantages by deception.
Deputy Judge Browne adjourned the case until tomorrow (Thursday) for sentencing, and remanded the defendants in the custody of the Correctional Services Department.
The court heard that at the time of the offences, Wong and Tsang respectively controlled two British Virgin Islands-registered companies - Waymax Holdings Inc. (“Waymax”) and Chinapro Pacific Limited (“Chinapro”).
Between October and December 1998, Wong had offered HK$643,387.50 and HK$257,022.50 to a former Head of the Credit Department (“former bank officer”) of BNP Paribas Hong Kong Branch (formerly known as Banque Nationale de Paris Hong Kong Branch (“BNP”) as rewards for the latter to process applications for credit facilities for Waymax and Chinapro respectively.
Wong had also conspired with the former bank officer to offer the latter a reward at the rate of one per cent or half per cent of the amount of the credit facilities granted by BNP for processing the two applications.
The court also heard that between October 1998 and August 1999, Wong had conspired with the former bank officer to defraud BNP by dishonestly representing that two standby L/Cs issued respectively by two Bosnia banks - SAB Banka d.o.o. Sarajevo and Soko K omerc Bank (“Soko”) - were genuine.
Wong and Tsang were also found guilty of conspiring with the former bank officer and other persons to defraud BNP between November 1998 and August 1999 by dishonestly representing that two standby L/Cs issued respectively by GSP International Bank Limited , a bank at a South Pacific island Vanuatu, and Soko were genuine.
“This investigation, which arose from a corruption complaint, has demonstrated the increasing complexity and transnational nature of corruption cases,” an ICAC spokesman said.
“Apart from examining a huge amount of documents, investigators had spent three years in gathering evidence locally and overseas. Witnesses from Bosnia, Vanuatu, the United States and France were called to testify during the trial.”
The prosecution was today represented by Roderick Wu, counsel on fiat, assisted by ICAC officer Johnny Yau.