Ex-directors of travel agency charged with embezzling $4.2m and publishing false directors’ reports
2020-9-17
Two former directors of a travel agency were charged by the ICAC yesterday (September 16) with stealing a total of over $4.2 million from the agency and publishing false directors’ reports to conceal the embezzlement.
Fung Ping-fai, 68; and Leung Wai-keung, 55, both former directors of Wing Hang Travel Company Limited (Wing Hang), jointly face two charges – one of theft, contrary to Section 9 of the Theft Ordinance, and one of publishing a false statement, contrary to Section 21(1) of the Theft Ordinance. Fung further faces another count of publishing a false statement.
The defendants will appear in the Eastern Magistrates’ Courts tomorrow (September 18) for the case to be transferred to the District Court for plea.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
At the material time, Fung and Leung were two of the four directors and equal shareholders of Wing Hang which sourced overseas travel services for local travel agencies.
The theft charge alleges that between January 18, 2012 and January 3, 2014, Fung and Leung stole a total of over $4.2 million from Wing Hang.
Another charge alleges that on or about June 19, 2013, Fung and Leung, with intent to deceive members of Wing Hang about its affairs, concurred in publishing the Directors’ Report and Accounts for 2012, which to their knowledge was misleading, false or deceptive.
The remaining charge alleges that on or about July 21, 2014, Fung, with intent to deceive members of Wing Hang about its affairs, concurred in publishing the Directors’ Report and Accounts for 2013, which to his knowledge was misleading, false or deceptive.
It is alleged that the amount of Cost of Services contained in the aforesaid reports and accounts had been inflated.
Wing Hang has rendered full assistance to the ICAC during its investigation into the case.
The defendants have been released on ICAC bail, pending their court appearance tomorrow.
Fung Ping-fai, 68; and Leung Wai-keung, 55, both former directors of Wing Hang Travel Company Limited (Wing Hang), jointly face two charges – one of theft, contrary to Section 9 of the Theft Ordinance, and one of publishing a false statement, contrary to Section 21(1) of the Theft Ordinance. Fung further faces another count of publishing a false statement.
The defendants will appear in the Eastern Magistrates’ Courts tomorrow (September 18) for the case to be transferred to the District Court for plea.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
At the material time, Fung and Leung were two of the four directors and equal shareholders of Wing Hang which sourced overseas travel services for local travel agencies.
The theft charge alleges that between January 18, 2012 and January 3, 2014, Fung and Leung stole a total of over $4.2 million from Wing Hang.
Another charge alleges that on or about June 19, 2013, Fung and Leung, with intent to deceive members of Wing Hang about its affairs, concurred in publishing the Directors’ Report and Accounts for 2012, which to their knowledge was misleading, false or deceptive.
The remaining charge alleges that on or about July 21, 2014, Fung, with intent to deceive members of Wing Hang about its affairs, concurred in publishing the Directors’ Report and Accounts for 2013, which to his knowledge was misleading, false or deceptive.
It is alleged that the amount of Cost of Services contained in the aforesaid reports and accounts had been inflated.
Wing Hang has rendered full assistance to the ICAC during its investigation into the case.
The defendants have been released on ICAC bail, pending their court appearance tomorrow.