Money exchange employee sentenced for using remittance documents with false exchange rates
2019-9-24
An employee of a currency exchange company, charged by the ICAC, was today (September 24) sentenced at the Kowloon City Magistracy for 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), was ordered by Acting Principal Magistrate Ms Ada Yim Shun-yee to perform 120 hours of community service.
The defendant earlier pleaded guilty to 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 court heard that Hui’s Brothers was a subsidiary of Hui’s Brothers Currency Exchange Group Holdings Limited which provided currency exchange and remittance services.
At the material time, the defendant was a cashier of Hui’s Brothers posted to a branch in Yau Ma Tei (the branch) 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.
On June 4, 2018, the defendant’s brother-in-law patronised the branch and paid HK$700,000 in cash for remitting Renminbi 574,700. The branch manager gave the defendant a more favourable exchange rate and suggested her to take the difference as “tea money” for referring the customer.
The defendant acceded to the branch manager’s proposal and altered the settlement amount and exchange rate on the remittance form. The defendant then took the difference of HK$596 and treated the branch manager and a colleague with beverages.
Four days later, the defendant handled another customer referred by her friend for remitting Renminbi 207,511 with HK$253,000. The defendant was subsequently given a more favourable exchange rate, allowing her to obtain a difference of HK$154. She then gave the money to her friend for referring the customer.
On July 16, 2018, the same customer transferred HK$290,000 to the bank account of Hui’s Brothers for remitting Renminbi 248,530. Using the same fraudulent means, the defendant altered the settlement amount and exchange rate on the remittance form after obtaining a more favourable exchange rate from the branch manager. The defendant then use the difference, HK$169, to treat colleagues with beverages.
The court heard that for the three remittances involved, the differences between the actual settlement amounts and the settlement amounts stated on the forms which were calculated on more favourable exchange rates amounted to HK$919.
Hui’s Brothers had rendered full assistance to the ICAC during its investigation.
The prosecution was today represented by ICAC officer Sandy Leung.
Chau Hoi-ying, 46, cashier of Hui’s Brothers Foreign Currency Exchange Company Limited (Hui’s Brothers), was ordered by Acting Principal Magistrate Ms Ada Yim Shun-yee to perform 120 hours of community service.
The defendant earlier pleaded guilty to 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 court heard that Hui’s Brothers was a subsidiary of Hui’s Brothers Currency Exchange Group Holdings Limited which provided currency exchange and remittance services.
At the material time, the defendant was a cashier of Hui’s Brothers posted to a branch in Yau Ma Tei (the branch) 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.
On June 4, 2018, the defendant’s brother-in-law patronised the branch and paid HK$700,000 in cash for remitting Renminbi 574,700. The branch manager gave the defendant a more favourable exchange rate and suggested her to take the difference as “tea money” for referring the customer.
The defendant acceded to the branch manager’s proposal and altered the settlement amount and exchange rate on the remittance form. The defendant then took the difference of HK$596 and treated the branch manager and a colleague with beverages.
Four days later, the defendant handled another customer referred by her friend for remitting Renminbi 207,511 with HK$253,000. The defendant was subsequently given a more favourable exchange rate, allowing her to obtain a difference of HK$154. She then gave the money to her friend for referring the customer.
On July 16, 2018, the same customer transferred HK$290,000 to the bank account of Hui’s Brothers for remitting Renminbi 248,530. Using the same fraudulent means, the defendant altered the settlement amount and exchange rate on the remittance form after obtaining a more favourable exchange rate from the branch manager. The defendant then use the difference, HK$169, to treat colleagues with beverages.
The court heard that for the three remittances involved, the differences between the actual settlement amounts and the settlement amounts stated on the forms which were calculated on more favourable exchange rates amounted to HK$919.
Hui’s Brothers had rendered full assistance to the ICAC during its investigation.
The prosecution was today represented by ICAC officer Sandy Leung.