Secretary jailed for accepting advantage from property agency
2007-5-25
A secretary of a company, charged by the ICAC, was today (Friday) sentenced to four months' imprisonment at Eastern Magistracy for accepting a $24,500 bribe from a property agency in relation to the sale and purchase of a property.
Kong Kin-fan, 49, secretary of Hoi Ping City Hoi Kiu College Development Fund Limited (HP Fund Limited), was also ordered to pay a restitution of $24,500 to the company.
The defendant today pleaded guilty before Magistrate Mr Josiah Lam Wai-kuen to one count of agent accepting an advantage, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance.
The court heard that at the time of the offence, the defendant was the only employee of HP Fund Limited in Hong Kong responsible for managing properties owned by HP Fund Limited, including a number of flats in Hoi Kiu Commercial Building.
In November 2005, an associated company of a property conglomerate (the buyer) intended to acquire the whole block of Hoi Kiu Commercial Building for redevelopment, and entrusted Centaline Property Agency Limited (Centaline) to facilitate the acquisition.
A month later, a branch manager and an estate agent of Centaline informed the defendant of the intended acquisition and requested for her assistance in facilitating the transaction.
In return, the defendant would be rewarded with part of the commission paid by HP Fund Limited to Centaline. The defendant agreed to the offer, and arranged the two agents of Centaline to meet the chairman of the board of directors of HP Fund Limited.
In February last year, HP Fund Limited agreed to sell the property to the buyer at $24.5 million and pay Centaline $245,000, which was equivalent to one per cent of the consideration as commission.
In June last year, Centaline issued a cheque for $24,500 payable to the defendant's daughter. This payment was made without the consent and knowledge of HP Fund Limited.
After depositing the cheque into her daughter's bank account, the defendant dispersed the money into her own account, the court was told.
The prosecution was today represented by ICAC officer Ben Chan.
Kong Kin-fan, 49, secretary of Hoi Ping City Hoi Kiu College Development Fund Limited (HP Fund Limited), was also ordered to pay a restitution of $24,500 to the company.
The defendant today pleaded guilty before Magistrate Mr Josiah Lam Wai-kuen to one count of agent accepting an advantage, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance.
The court heard that at the time of the offence, the defendant was the only employee of HP Fund Limited in Hong Kong responsible for managing properties owned by HP Fund Limited, including a number of flats in Hoi Kiu Commercial Building.
In November 2005, an associated company of a property conglomerate (the buyer) intended to acquire the whole block of Hoi Kiu Commercial Building for redevelopment, and entrusted Centaline Property Agency Limited (Centaline) to facilitate the acquisition.
A month later, a branch manager and an estate agent of Centaline informed the defendant of the intended acquisition and requested for her assistance in facilitating the transaction.
In return, the defendant would be rewarded with part of the commission paid by HP Fund Limited to Centaline. The defendant agreed to the offer, and arranged the two agents of Centaline to meet the chairman of the board of directors of HP Fund Limited.
In February last year, HP Fund Limited agreed to sell the property to the buyer at $24.5 million and pay Centaline $245,000, which was equivalent to one per cent of the consideration as commission.
In June last year, Centaline issued a cheque for $24,500 payable to the defendant's daughter. This payment was made without the consent and knowledge of HP Fund Limited.
After depositing the cheque into her daughter's bank account, the defendant dispersed the money into her own account, the court was told.
The prosecution was today represented by ICAC officer Ben Chan.