Ex-manager of insurance company charged with laundering $640,000 crime proceeds
2021-5-17
The ICAC last Friday (May 14) charged a former manager of an insurance company with laundering over $640,000 in crime proceeds in relation to the sale of insurance products.
Ho Che-chun, 26, former senior unit manager of Sun Life Hong Kong Limited (Sun Life HK), faces five counts of dealing with property known or reasonably believed to represent proceeds of an indictable offence, contrary to Section 25(1) of the Organized and Serious Crimes Ordinance.
The defendant will appear in the Kowloon City Magistrates’ Courts tomorrow (May 18) for plea.
The ICAC investigation arose from a corruption complaint. Subsequent enquiries revealed the above alleged offences.
Sun Life HK is a licensed insurer in Hong Kong. When an insurance product is sold, the company releases commissions and overriding commissions respectively to the handling agent and his/her up-line managers.
At the material time, the defendant was a senior unit manager of Sun Life HK. He told his team members at weekly meetings that in order to maximise the commissions received by the whole team, the lowest ranking officers in the team would receive commissions from Sun Life HK apart from their basic monthly salary. The relevant commissions received by those lowest ranking officers should be passed to the defendant for handling.
The charges allege that on five occasions between October 11, 2017 and January 15, 2018, the defendant dealt with five sums of cash, each ranged from $38,000 to $267,000, totalling over $640,000, knowing or having reasonable grounds to believe that the sums of money in whole or in part directly or indirectly represented any person’s proceeds of indictable offence.
It is alleged that the aforesaid five sums of cash were commissions in relation to eight policies released by Sun Life HK to the defendant’s down-line agents who did not take part in the sale process.
Sun Life HK has rendered full assistance to the ICAC during its investigation into the case.
The defendant has been released on ICAC bail, pending his court appearance tomorrow.
Ho Che-chun, 26, former senior unit manager of Sun Life Hong Kong Limited (Sun Life HK), faces five counts of dealing with property known or reasonably believed to represent proceeds of an indictable offence, contrary to Section 25(1) of the Organized and Serious Crimes Ordinance.
The defendant will appear in the Kowloon City Magistrates’ Courts tomorrow (May 18) for plea.
The ICAC investigation arose from a corruption complaint. Subsequent enquiries revealed the above alleged offences.
Sun Life HK is a licensed insurer in Hong Kong. When an insurance product is sold, the company releases commissions and overriding commissions respectively to the handling agent and his/her up-line managers.
At the material time, the defendant was a senior unit manager of Sun Life HK. He told his team members at weekly meetings that in order to maximise the commissions received by the whole team, the lowest ranking officers in the team would receive commissions from Sun Life HK apart from their basic monthly salary. The relevant commissions received by those lowest ranking officers should be passed to the defendant for handling.
The charges allege that on five occasions between October 11, 2017 and January 15, 2018, the defendant dealt with five sums of cash, each ranged from $38,000 to $267,000, totalling over $640,000, knowing or having reasonable grounds to believe that the sums of money in whole or in part directly or indirectly represented any person’s proceeds of indictable offence.
It is alleged that the aforesaid five sums of cash were commissions in relation to eight policies released by Sun Life HK to the defendant’s down-line agents who did not take part in the sale process.
Sun Life HK has rendered full assistance to the ICAC during its investigation into the case.
The defendant has been released on ICAC bail, pending his court appearance tomorrow.