Ex-senior company executive gets six months for $510,000 office equipment payments fraud
2019-9-30
A former senior executive of an asset management company, charged by the ICAC, was today (September 30) sentenced to six months’ imprisonment at the Eastern Magistracy after being convicted of payments fraud totalling over $510,000 in relation to rental of photocopiers and other office support services.
Lam Kin-yee, 50, former deputy director of human resources and administration department of E Fund Management (Hong Kong) Co., Limited (E Fund), was convicted of 10 counts of fraud, contrary to Section 16A of the Theft Ordinance.
Upon the defendant’s application, Magistrate Mr Lam Tsz-kan granted her bail pending her appeal.
The court heard that at the material time, the defendant was the deputy director of the human resources and administration department of E Fund. She was required to obtain prior approval of the company’s chief executive officer (CEO) for procurement of administration and other office support services over $100,000 from suppliers.
With the approval of the CEO, the defendant signed a contract with an office equipment supplier for renting photocopiers and related photocopying services in November 2013.
A month later, the defendant further signed two office support services contracts totalling about $3 million with the supplier without the approval of the CEO.
In order to settle payments for the two office support services contracts, the defendant submitted nine payment approval forms with false payment descriptions to E Fund between March 2014 and March 2015.
In the belief that the nine forms concerned the settlement of photocopiers rental payments, E Fund approved and released payments totalling over $462,000 to the supplier.
The court also heard that in February 2014, the defendant submitted to E Fund another payment approval form purportedly concerned the rental of photocopiers, enclosing a copy of a contract bearing a forged signature of the CEO.
The form was approved by E fund but the $53,000-odd released was in fact used to settle a payment in relation to one of the two office support services contracts.
E fund and the supplier had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by prosecuting counsel Priscilia Lam, assisted by ICAC officer Freddy Yip.
Lam Kin-yee, 50, former deputy director of human resources and administration department of E Fund Management (Hong Kong) Co., Limited (E Fund), was convicted of 10 counts of fraud, contrary to Section 16A of the Theft Ordinance.
Upon the defendant’s application, Magistrate Mr Lam Tsz-kan granted her bail pending her appeal.
The court heard that at the material time, the defendant was the deputy director of the human resources and administration department of E Fund. She was required to obtain prior approval of the company’s chief executive officer (CEO) for procurement of administration and other office support services over $100,000 from suppliers.
With the approval of the CEO, the defendant signed a contract with an office equipment supplier for renting photocopiers and related photocopying services in November 2013.
A month later, the defendant further signed two office support services contracts totalling about $3 million with the supplier without the approval of the CEO.
In order to settle payments for the two office support services contracts, the defendant submitted nine payment approval forms with false payment descriptions to E Fund between March 2014 and March 2015.
In the belief that the nine forms concerned the settlement of photocopiers rental payments, E Fund approved and released payments totalling over $462,000 to the supplier.
The court also heard that in February 2014, the defendant submitted to E Fund another payment approval form purportedly concerned the rental of photocopiers, enclosing a copy of a contract bearing a forged signature of the CEO.
The form was approved by E fund but the $53,000-odd released was in fact used to settle a payment in relation to one of the two office support services contracts.
E fund and the supplier had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by prosecuting counsel Priscilia Lam, assisted by ICAC officer Freddy Yip.