Ex-bank manager gets 26 months for accepting $1.3m bribes
2012-5-11
A former Senior Relationship Manager of DBS Bank (HK) Limited (DBS), charged by the ICAC, was today (Friday) sentenced to 26 months’ imprisonment at the District Court for accepting bribes totalling $1.3 million from a client for handling the latter’s accounts with DBS.
Dicky Kong Tak-lap, 56, was also ordered to pay $1.15 million as restitution to DBS as the remaining $150,000 had already been returned to the bank by the defendant.
In sentencing, Deputy Judge Joseph To Ho-shing stated that the defendant’s act had impaired the reputation of Hong Kong as a banking centre in the world.
The defendant was earlier found guilty of three counts of agent accepting an advantage, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance (POBO).
The court heard that at the material times, the defendant was a Senior Relationship Manager of the Private Banking Department of DBS. He was responsible for handling private banking accounts of clients, including Sit Pan-jit.
In 2004, Sit opened investment accounts with DBS. Since then, Sit had made substantial profits from investing in various products through those accounts handled by the defendant. On December 22, 2006, Sit gave $500,000 to the defendant.
The court heard that on January 8 and February 12, 2008, the defendant respectively accepted $500,000 and $300,000 in cash from Sit.
DBS prohibited its employees from accepting advantages from their clients in relation to the bank’s business, the court was told.
DBS had rendered full assistance to the ICAC in the investigation.
Sit, 65, was earlier charged by the ICAC with one count of offering advantages to an agent, contrary to Section 9(2)(a) of the POBO. He was found guilty of the charge at the District Court in November 2010, and subsequently testified for the prosecution.
The prosecution was today represented by prosecuting counsel Bernard Yuen, assisted by ICAC officer Leung Po-shan.
Dicky Kong Tak-lap, 56, was also ordered to pay $1.15 million as restitution to DBS as the remaining $150,000 had already been returned to the bank by the defendant.
In sentencing, Deputy Judge Joseph To Ho-shing stated that the defendant’s act had impaired the reputation of Hong Kong as a banking centre in the world.
The defendant was earlier found guilty of three counts of agent accepting an advantage, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance (POBO).
The court heard that at the material times, the defendant was a Senior Relationship Manager of the Private Banking Department of DBS. He was responsible for handling private banking accounts of clients, including Sit Pan-jit.
In 2004, Sit opened investment accounts with DBS. Since then, Sit had made substantial profits from investing in various products through those accounts handled by the defendant. On December 22, 2006, Sit gave $500,000 to the defendant.
The court heard that on January 8 and February 12, 2008, the defendant respectively accepted $500,000 and $300,000 in cash from Sit.
DBS prohibited its employees from accepting advantages from their clients in relation to the bank’s business, the court was told.
DBS had rendered full assistance to the ICAC in the investigation.
Sit, 65, was earlier charged by the ICAC with one count of offering advantages to an agent, contrary to Section 9(2)(a) of the POBO. He was found guilty of the charge at the District Court in November 2010, and subsequently testified for the prosecution.
The prosecution was today represented by prosecuting counsel Bernard Yuen, assisted by ICAC officer Leung Po-shan.