Company director charged with bribery over certificate of deposit
2016-3-30
A director of a trading company has been charged by the ICAC today (Wednesday) with offering an illegal rebate to an employee of a bank for issuing to his company a certificate of deposit in the purported amount of several hundred million US dollars.
Robert Yeung Hung-to, 46, a director and major shareholder of Blooming Faith International Limited (BFIL), faces one count of offering an advantage to an agent, contrary to Section 9(2)(a) of the Prevention of Bribery Ordinance.
The defendant will appear in the Eastern Magistracy on Friday (April 1) for plea.
At the material time, the defendant was a director and major shareholder of BFIL, a trading company registered in Hong Kong. He was one of the authorised signatories of an account that BFIL opened with The Hongkong and Shanghai Banking Corporation Limited (HSBC).
The charge alleges that on November 7, 2014, the defendant, without lawful authority or reasonable excuse, offered a rebate to an employee of HSBC as a reward for issuing to BFIL a certificate of deposit in the purported amount of several hundred million US dollars.
The illegal rebate was said to amount to two to three per cent of the purported amount of money stated on the certificate of deposit.
The employee of HSBC declined the defendant’s offer instantly and later reported the matter to the management of the bank.
HSBC has rendered full assistance to the ICAC during its investigation.
The defendant has been released on ICAC bail, pending his court appearance on Friday.
Robert Yeung Hung-to, 46, a director and major shareholder of Blooming Faith International Limited (BFIL), faces one count of offering an advantage to an agent, contrary to Section 9(2)(a) of the Prevention of Bribery Ordinance.
The defendant will appear in the Eastern Magistracy on Friday (April 1) for plea.
At the material time, the defendant was a director and major shareholder of BFIL, a trading company registered in Hong Kong. He was one of the authorised signatories of an account that BFIL opened with The Hongkong and Shanghai Banking Corporation Limited (HSBC).
The charge alleges that on November 7, 2014, the defendant, without lawful authority or reasonable excuse, offered a rebate to an employee of HSBC as a reward for issuing to BFIL a certificate of deposit in the purported amount of several hundred million US dollars.
The illegal rebate was said to amount to two to three per cent of the purported amount of money stated on the certificate of deposit.
The employee of HSBC declined the defendant’s offer instantly and later reported the matter to the management of the bank.
HSBC has rendered full assistance to the ICAC during its investigation.
The defendant has been released on ICAC bail, pending his court appearance on Friday.