Ex-finance company manager returns to Hong Kong to face ICAC prosecution
2007-1-5
A former branch manager of a finance company, wanted by the ICAC, has returned from the United States of America (USA) to Hong Kong early this (Friday) morning to face prosecution for allegedly accepting about $10 million in bribes for granting loans to a village house developer.
Kwok On-fat, 50, formerly employed by AIG Finance (Hong Kong) Limited (AIG) (previously known as SPC Credit Limited), was arrested in Los Angeles by the United States Marshals Service on October 27 last year at the request of the Hong Kong Government.
Kwok consented to be surrendered to Hong Kong during a court hearing in the USA on November 16 last year. He was escorted by ICAC officers on a flight to return to Hong Kong from Los Angeles on Wednesday (January 3).
Upon his return, Kwok was charged with two counts of conspiracy to accept advantages as an agent and one of conspiracy to defraud. He was brought to the Eastern Magistracy for mention this afternoon.
No plea was taken. Magistrate Mr Josiah Lam Wai-kuen adjourned the case until January 19 for transfer to the District Court. The defendant was granted bail of $300,000 cash and a surety of $200,000. He was also ordered to report to the Police three tim es a week, and not to leave Hong Kong.
The two bribery charges alleged that between October 1990 and December 1999, Kwok had conspired with a village house developer for Kwok to accept bribe payments on separate occasions.
The alleged bribe payments, amounting to about $10 million, were said to be rewards for Kwok to grant the developer various loans, including 10 loans totalling over $22 million.
The remaining charge alleged that between October 1990 and August 1999, Kwok had conspired with the developer to defraud AIG by falsely representing that the particulars and details of properties (village houses) provided and identified for inspection and valuation were in relation to those given as security in support of applications for mortgage finance.
Kwok was also alleged to have submitted to AIG false Lands Department documents in relation to those properties and induced AIG to provide the mortgage finance sought.
Kwok left Hong Kong on May 1, 2002 prior to the commencement of the ICAC investigation.
A warrant for the arrest of Kwok was issued by a magistrate in Hong Kong on May 7, 2004.
The prosecution was today represented by Senior Government Counsel Maggie Yang, assisted by ICAC officer Terence Cheung.
Kwok On-fat, 50, formerly employed by AIG Finance (Hong Kong) Limited (AIG) (previously known as SPC Credit Limited), was arrested in Los Angeles by the United States Marshals Service on October 27 last year at the request of the Hong Kong Government.
Kwok consented to be surrendered to Hong Kong during a court hearing in the USA on November 16 last year. He was escorted by ICAC officers on a flight to return to Hong Kong from Los Angeles on Wednesday (January 3).
Upon his return, Kwok was charged with two counts of conspiracy to accept advantages as an agent and one of conspiracy to defraud. He was brought to the Eastern Magistracy for mention this afternoon.
No plea was taken. Magistrate Mr Josiah Lam Wai-kuen adjourned the case until January 19 for transfer to the District Court. The defendant was granted bail of $300,000 cash and a surety of $200,000. He was also ordered to report to the Police three tim es a week, and not to leave Hong Kong.
The two bribery charges alleged that between October 1990 and December 1999, Kwok had conspired with a village house developer for Kwok to accept bribe payments on separate occasions.
The alleged bribe payments, amounting to about $10 million, were said to be rewards for Kwok to grant the developer various loans, including 10 loans totalling over $22 million.
The remaining charge alleged that between October 1990 and August 1999, Kwok had conspired with the developer to defraud AIG by falsely representing that the particulars and details of properties (village houses) provided and identified for inspection and valuation were in relation to those given as security in support of applications for mortgage finance.
Kwok was also alleged to have submitted to AIG false Lands Department documents in relation to those properties and induced AIG to provide the mortgage finance sought.
Kwok left Hong Kong on May 1, 2002 prior to the commencement of the ICAC investigation.
A warrant for the arrest of Kwok was issued by a magistrate in Hong Kong on May 7, 2004.
The prosecution was today represented by Senior Government Counsel Maggie Yang, assisted by ICAC officer Terence Cheung.