Four charged with $1.5m bribery and false accounting over loan applications
2015-1-7
A former senior executive of a bank and a property investor have been charged by the ICAC with accepting and offering about $1.5 million worth of advantages, including baby gifts, a discounted sale of a sports car, a watch, free accommodation, free use of a private car and a payment of renovation fee in relation to applications for credit facilities.
In addition, the property investor and two other persons were charged with false accounting for concealing the payment of renovation fee.
Jimmy Lau Yau-wai, 41, former senior vice-president of The Bank of East Asia (BEA), who was charged yesterday (January 6), faces seven counts of agent accepting an advantage, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance (POBO).
Also charged yesterday was Tam Pak-wing, 66, director-cum-shareholder of Wai Woo Brothers Industrial Company Limited (WWB), who faces seven counts of offering an advantage to an agent, contrary to Section 9(2)(a) of the POBO.
Tam Pak-wing, Kenny Tam Hiu-kit, 32, staff member of WWB, and Chan Shing-yip, 40, operator of Ka Shun Decoration Construction Limited (KSDCL), have been jointly charged with one count of conspiracy to falsify an account, contrary to Section 159A of the Crimes Ordinance and Section 19(1)(a) of the Theft Ordinance.
The defendants will appear in the Eastern Magistracy tomorrow (January 8) for transfer to the District Court for plea.
At the material time, Lau was a senior vice-president of the Private Banking Department of BEA. Among his clients was Tam Pak-wing, who was a property investor and owned a number of companies, including WWB. His nephew Kenny Tam worked at WWB.
Chan Shing-yip was the operator of Ka Shun Decoration Construction Limited (KSDCL), which provided renovation service to the properties held by Tam Pak-wing and his companies.
Seven of the charges allege that between June 2011 and August 2013, Lau accepted advantages as rewards for processing the applications for credit facilities in relation to companies owned by Tam Pak-wing.
The advantages allegedly accepted by Lau amounted to about $1.5 million, including baby gifts worth over $12,600, a discounted sale of a sports car worth $1.35 million, a watch worth over $57,000, free accommodation at a house in Stanley, free use of a private car and the payment of a renovation fee of $266,850 for Lau’s home.
Seven other charges allege Tam Pak-wing of having offered the above advantages to Lau for the same purpose.
The remaining charge alleges that between June and August 2013, Tam Pak-wing, Kenny Tam and Chan conspired together with a then assistant general manager of WWB to falsify an invoice of KSDCL for an accounting purpose, purporting to show that KSDCL had conducted renovation works for the ground floor lobby of a commercial building in Tsim Sha Tsui, so as to conceal the payment of renovation fee for Lau.
BEA has rendered full assistance to the ICAC during its investigation.
The defendants have been released on ICAC bail, pending their court appearance tomorrow.
In addition, the property investor and two other persons were charged with false accounting for concealing the payment of renovation fee.
Jimmy Lau Yau-wai, 41, former senior vice-president of The Bank of East Asia (BEA), who was charged yesterday (January 6), faces seven counts of agent accepting an advantage, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance (POBO).
Also charged yesterday was Tam Pak-wing, 66, director-cum-shareholder of Wai Woo Brothers Industrial Company Limited (WWB), who faces seven counts of offering an advantage to an agent, contrary to Section 9(2)(a) of the POBO.
Tam Pak-wing, Kenny Tam Hiu-kit, 32, staff member of WWB, and Chan Shing-yip, 40, operator of Ka Shun Decoration Construction Limited (KSDCL), have been jointly charged with one count of conspiracy to falsify an account, contrary to Section 159A of the Crimes Ordinance and Section 19(1)(a) of the Theft Ordinance.
The defendants will appear in the Eastern Magistracy tomorrow (January 8) for transfer to the District Court for plea.
At the material time, Lau was a senior vice-president of the Private Banking Department of BEA. Among his clients was Tam Pak-wing, who was a property investor and owned a number of companies, including WWB. His nephew Kenny Tam worked at WWB.
Chan Shing-yip was the operator of Ka Shun Decoration Construction Limited (KSDCL), which provided renovation service to the properties held by Tam Pak-wing and his companies.
Seven of the charges allege that between June 2011 and August 2013, Lau accepted advantages as rewards for processing the applications for credit facilities in relation to companies owned by Tam Pak-wing.
The advantages allegedly accepted by Lau amounted to about $1.5 million, including baby gifts worth over $12,600, a discounted sale of a sports car worth $1.35 million, a watch worth over $57,000, free accommodation at a house in Stanley, free use of a private car and the payment of a renovation fee of $266,850 for Lau’s home.
Seven other charges allege Tam Pak-wing of having offered the above advantages to Lau for the same purpose.
The remaining charge alleges that between June and August 2013, Tam Pak-wing, Kenny Tam and Chan conspired together with a then assistant general manager of WWB to falsify an invoice of KSDCL for an accounting purpose, purporting to show that KSDCL had conducted renovation works for the ground floor lobby of a commercial building in Tsim Sha Tsui, so as to conceal the payment of renovation fee for Lau.
BEA has rendered full assistance to the ICAC during its investigation.
The defendants have been released on ICAC bail, pending their court appearance tomorrow.