Consultant faces court for fraud over purchase of learning centre
2017-3-27
A consultant of a business brokerage firm appeared in the Eastern Magistracy today (March 27) after being charged by the ICAC with fraud by inducing a client to acquire a learning centre at $540,000, which was purported to be the lowest price accepted by the seller.
Ng Sze-chung, 24, business consultant of iBoss Business Consultation Limited (iBoss), who was charged last Thursday (March 23), faced one count of fraud, contrary to Section 16A of the Theft Ordinance.
The defendant pleaded not guilty to the charge. Principal Magistrate Ms Bina Chainrai adjourned the case to April 24 this year for a pre-trial review.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the alleged offence.
At the material time, the defendant was a business consultant of iBoss, a business brokerage firm procuring the sale and purchase of existing business ventures for prospective buyers and sellers.
The charge alleged that between October 1 and October 10, 2014, the defendant falsely represented to a prospective buyer that $540,000 was the lowest price that the owner of an English learning centre would accept for selling the learning centre, and with intent to defraud, induced the prospective buyer to purchase the learning centre at $540,000, which resulted in benefit to iBoss or a substantial risk of prejudice to the prospective buyer. In fact, the owner agreed to sell the learning centre at $430,000.
The defendant was granted cash bail of $20,000. He was also ordered to reside at his reported address, inform the ICAC 24 hours prior to any change of address, and not to interfere with prosecution witnesses.
The prosecution was today represented by ICAC officer Wilson Lam.
Ng Sze-chung, 24, business consultant of iBoss Business Consultation Limited (iBoss), who was charged last Thursday (March 23), faced one count of fraud, contrary to Section 16A of the Theft Ordinance.
The defendant pleaded not guilty to the charge. Principal Magistrate Ms Bina Chainrai adjourned the case to April 24 this year for a pre-trial review.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the alleged offence.
At the material time, the defendant was a business consultant of iBoss, a business brokerage firm procuring the sale and purchase of existing business ventures for prospective buyers and sellers.
The charge alleged that between October 1 and October 10, 2014, the defendant falsely represented to a prospective buyer that $540,000 was the lowest price that the owner of an English learning centre would accept for selling the learning centre, and with intent to defraud, induced the prospective buyer to purchase the learning centre at $540,000, which resulted in benefit to iBoss or a substantial risk of prejudice to the prospective buyer. In fact, the owner agreed to sell the learning centre at $430,000.
The defendant was granted cash bail of $20,000. He was also ordered to reside at his reported address, inform the ICAC 24 hours prior to any change of address, and not to interfere with prosecution witnesses.
The prosecution was today represented by ICAC officer Wilson Lam.