Ex-vice president of bank charged with soliciting $920,000 illegal commissions
2017-1-23
A former vice president of a bank has been charged by the ICAC with soliciting illegal commissions of about $920,000 in total from a client for handling securities transactions conducted in her accounts with the bank.
Jeff Ye Feng, 41, a former vice president of Bank of Communications Company Limited Hong Kong Branch (BOCM Hong Kong Branch), who was charged last Friday (January 20), faces two counts of soliciting an advantage as an agent, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance.
The defendant will appear in the Eastern Magistracy tomorrow (January 24) for plea.
At the material time, the defendant was a vice president, private banker of BOCM Hong Kong Branch. His duties included providing private banking clients with banking services and handling their securities transactions.
One of the charges alleges that on October 5, 2014, the defendant, without lawful authority or reasonable excuse, solicited a commission of about $141,980 from a private banking client of BOCM Hong Kong Branch as a reward for handling securities transactions conducted in the securities accounts maintained by her with the bank.
The other charge alleges that on April 9, 2015, the defendant, without lawful authority or reasonable excuse, solicited another commission of $777,140 from the same client of BOCM Hong Kong Branch for the same purpose.
BOCM Hong Kong Branch has rendered full assistance to the ICAC during its investigation.
The defendant has been released on ICAC bail, pending his court appearance tomorrow.
Jeff Ye Feng, 41, a former vice president of Bank of Communications Company Limited Hong Kong Branch (BOCM Hong Kong Branch), who was charged last Friday (January 20), faces two counts of soliciting an advantage as an agent, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance.
The defendant will appear in the Eastern Magistracy tomorrow (January 24) for plea.
At the material time, the defendant was a vice president, private banker of BOCM Hong Kong Branch. His duties included providing private banking clients with banking services and handling their securities transactions.
One of the charges alleges that on October 5, 2014, the defendant, without lawful authority or reasonable excuse, solicited a commission of about $141,980 from a private banking client of BOCM Hong Kong Branch as a reward for handling securities transactions conducted in the securities accounts maintained by her with the bank.
The other charge alleges that on April 9, 2015, the defendant, without lawful authority or reasonable excuse, solicited another commission of $777,140 from the same client of BOCM Hong Kong Branch for the same purpose.
BOCM Hong Kong Branch has rendered full assistance to the ICAC during its investigation.
The defendant has been released on ICAC bail, pending his court appearance tomorrow.