A former investment representative of a securities firm has been charged by the ICAC with accepting bribes totalling over $1.1 million from a businessman as rewards for assisting the latter in selling 50 million shares of a listed company.

Andy Pau Chin-hung, 35, formerly employed by KGI Hong Kong Limited (KGI Hong Kong), who was charged yesterday (October 27), faces two counts of agent accepting an advantage, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance.

The defendant will appear at Eastern Magistracy at 9:30 am on Monday (October 31) for transfer to the District Court for plea.

At the material time, the defendant was employed by KGI Hong Kong as an investment representative working for KGI Asia Limited (KGI Asia). He was responsible for opening securities accounts and conducting stock trading for clients of KGI Asia.

The charges allege that between April 23 and May 16, 2007, the defendant accepted a total of over $1.1 million from a businessman and/or his associate as rewards for assisting in disposing of 50 million shares of Warderly International Holdings Limited th rough certain accounts held with KGI Asia.

The defendant has been released on ICAC bail, pending his court appearance on Monday.