Ex-money exchange branch manager charged by ICAC as bribery probe reveals theft of $940,000
2022-5-31
The ICAC today (May 31) charged a former branch manager of a currency exchange company with stealing $940,000 from the company and using a false transaction record to cover up her misappropriation.
The ICAC investigation arose from a corruption complaint. Upon completion of the investigation, the ICAC sought legal advice from the Department of Justice, which advised charging the defendant.
Yuen On-ki, 30, former branch manager of Hui’s Brothers Foreign Currency Exchange Company Limited (Hui’s Brothers), faces two charges – one of theft, contrary to Section 9 of the Theft Ordinance; and one of conspiracy for agents to use document with intent to deceive their principal, contrary to Section 9(3) of the Prevention of Bribery Ordinance and Section 159A of the Crimes Ordinance.
The defendant was released on ICAC bail, pending her appearance in the Eastern Magistrates’ Courts on Thursday (June 2) for transferring the case to the District Court for plea.
At the material time, the defendant was the branch manager of the Tai Wai branch of Hui’s Brothers. The branch operated under the business name Sam Hing Hong Foreign Currency Exchange Limited to provide currency exchange and remittance services. The defendant was responsible for its daily operation, including handling remittance applications of its customers.
Hui’s Brothers did not provide any loan services and staff members were not allowed to process remittance applications on credit for its customers. Each branch was required to report to Hui’s Brothers its daily financial position such as the cash balance kept by the branch.
One of the charges alleges that between September 1, 2019 and February 25, 2020, the defendant stole cash of $940,000 from Hui’s Brothers.
Another charge alleges that on February 25, 2020, the defendant conspired together with an accounting clerk of the Tai Wai branch, with intent to deceive Hui’s Brothers, to use a transaction record containing a false statement to cover up a shortfall of $940,000, to mislead the company.
ICAC inquiries revealed that the defendant had advanced several loans to a customer without the permission of Hui’s Brothers by withdrawing cash from the Tai Wai branch.
Hui’s Brothers has rendered full assistance to the ICAC during its investigation into the case.
The ICAC investigation arose from a corruption complaint. Upon completion of the investigation, the ICAC sought legal advice from the Department of Justice, which advised charging the defendant.
Yuen On-ki, 30, former branch manager of Hui’s Brothers Foreign Currency Exchange Company Limited (Hui’s Brothers), faces two charges – one of theft, contrary to Section 9 of the Theft Ordinance; and one of conspiracy for agents to use document with intent to deceive their principal, contrary to Section 9(3) of the Prevention of Bribery Ordinance and Section 159A of the Crimes Ordinance.
The defendant was released on ICAC bail, pending her appearance in the Eastern Magistrates’ Courts on Thursday (June 2) for transferring the case to the District Court for plea.
At the material time, the defendant was the branch manager of the Tai Wai branch of Hui’s Brothers. The branch operated under the business name Sam Hing Hong Foreign Currency Exchange Limited to provide currency exchange and remittance services. The defendant was responsible for its daily operation, including handling remittance applications of its customers.
Hui’s Brothers did not provide any loan services and staff members were not allowed to process remittance applications on credit for its customers. Each branch was required to report to Hui’s Brothers its daily financial position such as the cash balance kept by the branch.
One of the charges alleges that between September 1, 2019 and February 25, 2020, the defendant stole cash of $940,000 from Hui’s Brothers.
Another charge alleges that on February 25, 2020, the defendant conspired together with an accounting clerk of the Tai Wai branch, with intent to deceive Hui’s Brothers, to use a transaction record containing a false statement to cover up a shortfall of $940,000, to mislead the company.
ICAC inquiries revealed that the defendant had advanced several loans to a customer without the permission of Hui’s Brothers by withdrawing cash from the Tai Wai branch.
Hui’s Brothers has rendered full assistance to the ICAC during its investigation into the case.