Money exchange employee charged with using remittance documents with false exchange rates
2019-9-6
An employee of a currency exchange company has been charged by the ICAC today (September 6) with using remittance forms containing false exchange rates and settlement amounts to deceive the company.
Chau Hoi-ying, 46, cashier of Hui’s Brothers Foreign Currency Exchange Company Limited (Hui’s Brothers), faces one count of conspiracy as agents to use document with intent to deceive principal, contrary to Section 9(3) of the Prevention of Bribery Ordinance and Section 159A of the Crimes Ordinance.
The defendant will appear at the Kowloon City Magistracy next Tuesday (September 10) for plea.
Hui’s Brothers is a subsidiary of Hui’s Brothers Currency Exchange Group Holdings Limited which provides currency exchange and remittance services.
At the material time, the defendant was a cashier of Hui’s Brothers posted to a branch in Yaumatei and was under the supervision of a branch manager.
The branch manager was authorised to exercise her discretion to offer a more favourable exchange rate to customers, provided that such rate was not lower than the daily bottom rate set by Hui’s Brothers.
The charge alleges that between June 4 and July 16, 2018, the defendant conspired together with the branch manager to use documents, namely three “application for remittance” forms, which contained false statements, with intent to deceive Hui’s Brothers.
It is alleged that the defendant intended to mislead Hui’s Brothers with the false statements, namely that the exchange rates stated on the three forms were more favourable to the remitters than those previously agreed, and that the settlement amounts stated on those forms were lower than those received from the remitters.
For the three remittances involved, the differences between the actual settlement amounts and the settlement amounts stated on the forms which were calculated on favourable exchange rates amounted to $919.
Hui’s Brothers has rendered full assistance to the ICAC during its investigation into the case.
The defendant has been released on ICAC bail, pending her court appearance next Tuesday.
Chau Hoi-ying, 46, cashier of Hui’s Brothers Foreign Currency Exchange Company Limited (Hui’s Brothers), faces one count of conspiracy as agents to use document with intent to deceive principal, contrary to Section 9(3) of the Prevention of Bribery Ordinance and Section 159A of the Crimes Ordinance.
The defendant will appear at the Kowloon City Magistracy next Tuesday (September 10) for plea.
Hui’s Brothers is a subsidiary of Hui’s Brothers Currency Exchange Group Holdings Limited which provides currency exchange and remittance services.
At the material time, the defendant was a cashier of Hui’s Brothers posted to a branch in Yaumatei and was under the supervision of a branch manager.
The branch manager was authorised to exercise her discretion to offer a more favourable exchange rate to customers, provided that such rate was not lower than the daily bottom rate set by Hui’s Brothers.
The charge alleges that between June 4 and July 16, 2018, the defendant conspired together with the branch manager to use documents, namely three “application for remittance” forms, which contained false statements, with intent to deceive Hui’s Brothers.
It is alleged that the defendant intended to mislead Hui’s Brothers with the false statements, namely that the exchange rates stated on the three forms were more favourable to the remitters than those previously agreed, and that the settlement amounts stated on those forms were lower than those received from the remitters.
For the three remittances involved, the differences between the actual settlement amounts and the settlement amounts stated on the forms which were calculated on favourable exchange rates amounted to $919.
Hui’s Brothers has rendered full assistance to the ICAC during its investigation into the case.
The defendant has been released on ICAC bail, pending her court appearance next Tuesday.