Former HSBC senior executive charged for allegedly accepting bribe
2009-10-22
A former senior vice-president of the Hongkong and Shanghai Banking Corporation Limited (HSBC)’s Commercial Banking Department was charged by the ICAC with accepting a bribe of US$60,000 (about HK$468,000) for approving applications for credit facilities from a client of the bank.
Chen Ching-hsiao, 46, faces one count of agent accepting an advantage, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance.
The defendant will appear in Eastern Magistracy at 9:30 am tomorrow (Friday) for transfer to the District Court.
The charge alleges that in June 2007, the defendant accepted US$60,000 from a Taiwanese client as rewards for recommending or approving the applications of two companies for credit facilities from HSBC.
The case arose from a corruption complaint referred by HSBC, whose management rendered full assistance to the ICAC during its investigation.
The defendant has been released on ICAC bail, pending his court appearance tomorrow.
Chen Ching-hsiao, 46, faces one count of agent accepting an advantage, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance.
The defendant will appear in Eastern Magistracy at 9:30 am tomorrow (Friday) for transfer to the District Court.
The charge alleges that in June 2007, the defendant accepted US$60,000 from a Taiwanese client as rewards for recommending or approving the applications of two companies for credit facilities from HSBC.
The case arose from a corruption complaint referred by HSBC, whose management rendered full assistance to the ICAC during its investigation.
The defendant has been released on ICAC bail, pending his court appearance tomorrow.