Ex-listed company senior executive jailed for $430,000 accounting fee fraud
2008-6-21
A former senior finance executive of a listed telecommunications company, charged by the ICAC, was today (Saturday) sentenced to 18 months’ imprisonment at the District Court for 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 earlier found guilty of one count of conspiracy to defraud.
In sentencing, Deputy Judge Josiah Lam Wai-kuen said a custodial sentence was imposed on the defendant as his offence was serious and constituted a breach of trust.
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 earlier found guilty of one count of conspiracy to defraud.
In sentencing, Deputy Judge Josiah Lam Wai-kuen said a custodial sentence was imposed on the defendant as his offence was serious and constituted a breach of trust.
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.