Ex-chairman of charitable association in court for alleged fraud over purchase of $39m property
2014-8-5
A former chairman of a charitable organisation appeared in the Kowloon City Magistracy today (Tuesday) after being charged by the ICAC with fraud in relation to the purchase of a property worth over $39 million.
Chiu Sai-chiu, 68, former chairman of Hong Kong Chiu Chow Po Hing Buddhism Association Limited (PHA), who was charged last Friday (August 1), faced one count of fraud and one of conspiracy to defraud.
No plea was taken. Principal Magistrate Mr Peter Law Tak-chuen transferred the case to the District Court for plea on August 26.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
At the material time, PHA was a registered non-profit making charitable organisation of which the defendant was the chairman cum director.
One of the charges alleged that between November 23, 2011 and March 2, 2012, the defendant concealed from PHA of his interests in the purchase of a property in Fa Yuen Street, Kowloon, by PHA, and with intent to defraud, induced PHA to buy the property at $39.2 million, which resulted in benefit to the defendant or in prejudice to PHA.
The other charge alleged that between January 6, 2012 and March 1, 2012, the defendant conspired with the proprietor of a property agency to defraud PHA by falsely representing that the transaction for the sale and purchase of the property was genuinely p rocured by the property agency, thereby inducing PHA to pay a sum of $300,000 as agency fee to the property agency in relation to the transaction.
The defendant was granted cash bail of $100,000. He was also ordered not to interfere with prosecution witnesses, not to leave Hong Kong and reside at his reported address.
The prosecution was today represented by ICAC officer Michael Tsoi.
Chiu Sai-chiu, 68, former chairman of Hong Kong Chiu Chow Po Hing Buddhism Association Limited (PHA), who was charged last Friday (August 1), faced one count of fraud and one of conspiracy to defraud.
No plea was taken. Principal Magistrate Mr Peter Law Tak-chuen transferred the case to the District Court for plea on August 26.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
At the material time, PHA was a registered non-profit making charitable organisation of which the defendant was the chairman cum director.
One of the charges alleged that between November 23, 2011 and March 2, 2012, the defendant concealed from PHA of his interests in the purchase of a property in Fa Yuen Street, Kowloon, by PHA, and with intent to defraud, induced PHA to buy the property at $39.2 million, which resulted in benefit to the defendant or in prejudice to PHA.
The other charge alleged that between January 6, 2012 and March 1, 2012, the defendant conspired with the proprietor of a property agency to defraud PHA by falsely representing that the transaction for the sale and purchase of the property was genuinely p rocured by the property agency, thereby inducing PHA to pay a sum of $300,000 as agency fee to the property agency in relation to the transaction.
The defendant was granted cash bail of $100,000. He was also ordered not to interfere with prosecution witnesses, not to leave Hong Kong and reside at his reported address.
The prosecution was today represented by ICAC officer Michael Tsoi.