Ex-salesperson charged with $1.8m fraud over purchases of marbles
2019-6-12
A former salesperson of a marble supplier has been charged by the ICAC today (June 12) with conspiracy to defraud three customers by inflating the prices quoted for purchases of marbles and pocketing the price differences totalling over $1.8 million.
Tam Hung-piu, 49, former salesperson of Free True Marble Limited (FTM), faces three counts of conspiracy to defraud, contrary to Common Law.
The defendant will appear at the West Kowloon Magistracy on Friday (June 14) for transfer of the case to the District Court for plea.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
At the material time, the defendant was a salesperson of the sales department of FTM, which supplied marbles to retailers and works contractors on the Mainland and in Hong Kong. He was responsible for handling orders for marbles from customers.
The charges allege that between October 2010 and December 2014, the defendant conspired with his supervisor and other persons to defraud three customers of FTM by dishonestly and falsely representing that the inflated prices quoted for the purchases of marbles were the prices at which FTM would supply the marbles, thereby causing and inducing the customers to place purchase orders and make payments at those inflated prices.
ICAC enquiries revealed that the three customers had placed over $35 million worth of orders for marbles with FTM and settled the payments. But the purchase prices had been inflated by over $1.8 million.
Had the customers known that the purchase prices had been inflated and the price differences had been pocketed by the defendant and their staff members, they would not have agreed to place the purchase orders with FTM and make payments to it at those inflated prices.
The defendant has been released on ICAC bail, pending his court appearance on Friday.
Tam Hung-piu, 49, former salesperson of Free True Marble Limited (FTM), faces three counts of conspiracy to defraud, contrary to Common Law.
The defendant will appear at the West Kowloon Magistracy on Friday (June 14) for transfer of the case to the District Court for plea.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
At the material time, the defendant was a salesperson of the sales department of FTM, which supplied marbles to retailers and works contractors on the Mainland and in Hong Kong. He was responsible for handling orders for marbles from customers.
The charges allege that between October 2010 and December 2014, the defendant conspired with his supervisor and other persons to defraud three customers of FTM by dishonestly and falsely representing that the inflated prices quoted for the purchases of marbles were the prices at which FTM would supply the marbles, thereby causing and inducing the customers to place purchase orders and make payments at those inflated prices.
ICAC enquiries revealed that the three customers had placed over $35 million worth of orders for marbles with FTM and settled the payments. But the purchase prices had been inflated by over $1.8 million.
Had the customers known that the purchase prices had been inflated and the price differences had been pocketed by the defendant and their staff members, they would not have agreed to place the purchase orders with FTM and make payments to it at those inflated prices.
The defendant has been released on ICAC bail, pending his court appearance on Friday.