Ex-listed company senior executive guilty of $430,000 accounting fee fraud
2008-6-14
A former senior finance executive of a listed telecommunications company, charged by the ICAC, was today (Saturday) convicted at the District Court of conspiracy to defraud the listed company of over $430,000 in accounting service fees.
Lam Sing-keung, 48, former director of group finance of PCCW Limited (PCCW), was found guilty of one count of conspiracy to defraud.
Deputy Judge Josiah Lam Wai-kuen adjourned the case until next Saturday (June 21) for sentence. The defendant was granted cash bail of $50,000, and ordered to surrender all travel documents and not to leave Hong Kong.
The above offence was revealed in an ICAC investigation into a corruption complaint.
The court heard that between January 1 and 17, 2005, the defendant conspired with another person to defraud PCCW.
The defendant falsely represented in a debit note that accounting services had been rendered by Baker Tilly Hong Kong Limited (BTHK) for various PCCW entities in the Mainland in 2004 at the agreed fee for the services rendered, which amounted to $432,000.
He also submitted a request for payment for professional fee charged by BTHK for accounting services in the Mainland for 2004 in the same total amount.
As a result of the false representation, PCCW was caused to make payment to BTHK for the settlement of the debit note, the court was told.
The prosecution was today represented by prosecuting counsel Paul Loughran, assisted by ICAC officer Albert Wong.
Lam Sing-keung, 48, former director of group finance of PCCW Limited (PCCW), was found guilty of one count of conspiracy to defraud.
Deputy Judge Josiah Lam Wai-kuen adjourned the case until next Saturday (June 21) for sentence. The defendant was granted cash bail of $50,000, and ordered to surrender all travel documents and not to leave Hong Kong.
The above offence was revealed in an ICAC investigation into a corruption complaint.
The court heard that between January 1 and 17, 2005, the defendant conspired with another person to defraud PCCW.
The defendant falsely represented in a debit note that accounting services had been rendered by Baker Tilly Hong Kong Limited (BTHK) for various PCCW entities in the Mainland in 2004 at the agreed fee for the services rendered, which amounted to $432,000.
He also submitted a request for payment for professional fee charged by BTHK for accounting services in the Mainland for 2004 in the same total amount.
As a result of the false representation, PCCW was caused to make payment to BTHK for the settlement of the debit note, the court was told.
The prosecution was today represented by prosecuting counsel Paul Loughran, assisted by ICAC officer Albert Wong.