Ex-managing director of herbal tea manufacturer charged for allegedly deceiving $1.4m L/C facility and loans
2007-10-31
The ICAC has charged a former managing director of a herbal tea manufacturer for allegedly deceiving a Letter of Credit (L/C) facility and six hire-purchase loans totalling over $1.4 million with false invoices.
Agnes Wong Kin-yee, 61, former managing director of Wong Lo Kat (International) Limited (WLK), will appear in Eastern Magistracy at 9:30 am tomorrow (Thursday) on seven counts of false accounting.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the alleged offences of false accounting.
One of the charges alleges the defendant of having falsified an invoice of a company required for accounting purpose on October 6, 1997, purporting to show that there was a genuine sale by the company to WLK of a machine at $90,000 as evidenced by the sai d invoice.
The remaining six charges allege that between February 12, 1998 and March 28, 2003, the defendant had falsified six invoices of three other companies required for accounting purpose, which purported to show that there were genuine sales by those companies to WLK of various machines at a total of $1,363,300 as evidenced by the said invoices.
As a result of the alleged false invoices, the four companies had obtained a L/C facility of $90,000 and six hire-purchase loans totalling $1,363,300 from a bank and a finance company respectively.
It is alleged that the funds were subsequently channeled to WLK.
The defendant has been released on ICAC bail, pending her court appearance tomorrow.
Agnes Wong Kin-yee, 61, former managing director of Wong Lo Kat (International) Limited (WLK), will appear in Eastern Magistracy at 9:30 am tomorrow (Thursday) on seven counts of false accounting.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the alleged offences of false accounting.
One of the charges alleges the defendant of having falsified an invoice of a company required for accounting purpose on October 6, 1997, purporting to show that there was a genuine sale by the company to WLK of a machine at $90,000 as evidenced by the sai d invoice.
The remaining six charges allege that between February 12, 1998 and March 28, 2003, the defendant had falsified six invoices of three other companies required for accounting purpose, which purported to show that there were genuine sales by those companies to WLK of various machines at a total of $1,363,300 as evidenced by the said invoices.
As a result of the alleged false invoices, the four companies had obtained a L/C facility of $90,000 and six hire-purchase loans totalling $1,363,300 from a bank and a finance company respectively.
It is alleged that the funds were subsequently channeled to WLK.
The defendant has been released on ICAC bail, pending her court appearance tomorrow.