Company director extradited from US gets 27 months for offering HK$2.3m bribe
2014-6-27
A director of a property development company, who was earlier extradited from the United States (US) to Hong Kong after being wanted by the ICAC, was today (Friday) sentenced to 27 months’ imprisonment at the District Court for offering a bribe of HK$2.3 million to a bank officer in relation to loan applications.
Zeng Wei, 51, a major shareholder-cum-director of United Win Holdings Limited, today pleaded guilty to one count of offering an advantage to an agent, contrary to Section 9(2)(a) of the Prevention of Bribery Ordinance.
Two other charges of offering an advantage to an agent and conspiracy to deal with property known or believed to represent proceeds of an indictable offence were ordered to be left on court file.
In sentencing, Judge Sham Siu-man said the bribery offence committed by the defendant was of a serious nature.
The court heard that at the material time, the defendant was a businessman engaging in developing properties and operating hotels and golf courses on the Mainland. Zeng also operated Kostar Investments Limited (Kostar) and Shine City International Limite d (Shine City).
In August 2006 and March 2007, Zeng applied for two loans of US$65 million and HK$200 million from the Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia)) for Kostar. The loans were subsequently approved by the bank.
In October 2007, Zeng applied for another loan of HK$2 billion from the ICBC (Asia) for Shine City. The loan was approved by the bank management and endorsed by Derick Chan Po-fui, former Head of Corporate Banking Department of the ICBC (Asia).
The court heard that between July 2007 and December 2009, Zeng applied for extending the repayment due dates of the two loans for Kostar on six occasions. Subsequently, all six applications were approved by the ICBC (Asia).
In May 2009, Chan also endorsed another application from Zeng for deferring the repayment due date of the loan for Shine City.
On October 5, 2010, Zeng gave HK$2.3 million to Chan as a reward for his assistance in endorsing the applications for extending the repayment due dates for the loans owed by Zeng.
The court heard that the trial was originally set down to commence at the District Court on July 4, 2011. On the first day of the trial, Zeng failed to appear in court. A warrant of arrest for his apprehension was issued by the court on the same day.
On October 21, 2011, Zeng was placed on the Interpol Red Notice. Zeng was arrested when he attempted to enter Saipan in the US on January 16, 2014.
Escorted by ICAC officers, Zeng arrived in Hong Kong on June 19, 2014 after he waived his right for the extradition proceedings, the court was told.
The prosecution was today represented by Senior Public Prosecutor Peggy Lo, assisted by ICAC officer Wing Ho.
Zeng Wei, 51, a major shareholder-cum-director of United Win Holdings Limited, today pleaded guilty to one count of offering an advantage to an agent, contrary to Section 9(2)(a) of the Prevention of Bribery Ordinance.
Two other charges of offering an advantage to an agent and conspiracy to deal with property known or believed to represent proceeds of an indictable offence were ordered to be left on court file.
In sentencing, Judge Sham Siu-man said the bribery offence committed by the defendant was of a serious nature.
The court heard that at the material time, the defendant was a businessman engaging in developing properties and operating hotels and golf courses on the Mainland. Zeng also operated Kostar Investments Limited (Kostar) and Shine City International Limite d (Shine City).
In August 2006 and March 2007, Zeng applied for two loans of US$65 million and HK$200 million from the Industrial and Commercial Bank of China (Asia) Limited (ICBC (Asia)) for Kostar. The loans were subsequently approved by the bank.
In October 2007, Zeng applied for another loan of HK$2 billion from the ICBC (Asia) for Shine City. The loan was approved by the bank management and endorsed by Derick Chan Po-fui, former Head of Corporate Banking Department of the ICBC (Asia).
The court heard that between July 2007 and December 2009, Zeng applied for extending the repayment due dates of the two loans for Kostar on six occasions. Subsequently, all six applications were approved by the ICBC (Asia).
In May 2009, Chan also endorsed another application from Zeng for deferring the repayment due date of the loan for Shine City.
On October 5, 2010, Zeng gave HK$2.3 million to Chan as a reward for his assistance in endorsing the applications for extending the repayment due dates for the loans owed by Zeng.
The court heard that the trial was originally set down to commence at the District Court on July 4, 2011. On the first day of the trial, Zeng failed to appear in court. A warrant of arrest for his apprehension was issued by the court on the same day.
On October 21, 2011, Zeng was placed on the Interpol Red Notice. Zeng was arrested when he attempted to enter Saipan in the US on January 16, 2014.
Escorted by ICAC officers, Zeng arrived in Hong Kong on June 19, 2014 after he waived his right for the extradition proceedings, the court was told.
The prosecution was today represented by Senior Public Prosecutor Peggy Lo, assisted by ICAC officer Wing Ho.