Ex-regional director of property agency charged with $1m bribery and meal expenses fraud
2020-9-1
A former regional sales director of a property agency has been charged by the ICAC today (September 1) with offering a bribe of $1 million to a subordinate for diverting the transaction of a property at an asking price up to $260 million to another estate agency, and fraud over reimbursement of meal expenses.
Yau Ka-shing, 51, former regional sales director of Centaline Property Agency Limited (Centaline Property), faces two charges – one of offering an advantage to an agent, contrary to Section 9(2)(a) of the Prevention of Bribery Ordinance, and one of fraud, contrary to Section 16A of the Theft Ordinance.
The defendant will appear in the Eastern Magistrates’ Courts on Thursday (September 3) for plea.
The defendant joined Centaline Property in June 2001 and was promoted to senior regional sales manager, responsible for overseeing a branch in Causeway Bay in August 2011. In February 2018, he was further promoted to regional sales director.
As a supervisor of Centaline Property, the defendant was entitled to make reimbursement claims for entertainment expenses incurred with clients, and was allowed to bring his subordinating property agents to attend business meal gatherings.
In around 2017, a carpark of a private residential estate in Mid-levels (the property) was put on sale at an asking price between $250 million and $260 million. In around February 2018, the defendant suggested to sell the property in partnership with a subordinating property agent.
The bribery charge alleges that between February 23 and March 9, 2018, the defendant, without lawful authority or reasonable excuse, offered a commission consisting of $1 million to the aforesaid property agent as an inducement to or reward for the latter to divert the transaction of the abovementioned property from Centaline Property to an unidentified agency.
The fraud charge alleges that between November 7, 2016 and June 29, 2018, the defendant falsely represented to Centaline Property that persons whose names appeared on 21 claim forms for entertainment expenses had attended business meals on the respective dates as set out in the claim forms, and with intent to defraud, induced Centaline Property to reimburse a total of over $31,000 to him, which resulted in benefit to him or in prejudice to Centaline Property.
Centaline Property has rendered full assistance to the ICAC during its investigation into the case.
The defendant has been released on ICAC bail, pending his court appearance on Thursday.
Yau Ka-shing, 51, former regional sales director of Centaline Property Agency Limited (Centaline Property), faces two charges – one of offering an advantage to an agent, contrary to Section 9(2)(a) of the Prevention of Bribery Ordinance, and one of fraud, contrary to Section 16A of the Theft Ordinance.
The defendant will appear in the Eastern Magistrates’ Courts on Thursday (September 3) for plea.
The defendant joined Centaline Property in June 2001 and was promoted to senior regional sales manager, responsible for overseeing a branch in Causeway Bay in August 2011. In February 2018, he was further promoted to regional sales director.
As a supervisor of Centaline Property, the defendant was entitled to make reimbursement claims for entertainment expenses incurred with clients, and was allowed to bring his subordinating property agents to attend business meal gatherings.
In around 2017, a carpark of a private residential estate in Mid-levels (the property) was put on sale at an asking price between $250 million and $260 million. In around February 2018, the defendant suggested to sell the property in partnership with a subordinating property agent.
The bribery charge alleges that between February 23 and March 9, 2018, the defendant, without lawful authority or reasonable excuse, offered a commission consisting of $1 million to the aforesaid property agent as an inducement to or reward for the latter to divert the transaction of the abovementioned property from Centaline Property to an unidentified agency.
The fraud charge alleges that between November 7, 2016 and June 29, 2018, the defendant falsely represented to Centaline Property that persons whose names appeared on 21 claim forms for entertainment expenses had attended business meals on the respective dates as set out in the claim forms, and with intent to defraud, induced Centaline Property to reimburse a total of over $31,000 to him, which resulted in benefit to him or in prejudice to Centaline Property.
Centaline Property has rendered full assistance to the ICAC during its investigation into the case.
The defendant has been released on ICAC bail, pending his court appearance on Thursday.