Ex-bank manager charged by ICAC jailed for bribing colleague for referring mortgage loan clients to financial intermediary
2023-5-5
A former bank manager, charged by the ICAC, was today (May 5) sentenced to four weeks’ imprisonment at the Kwun Tong Magistrates’ Courts for bribing a colleague for referring residential mortgage loan clients of a subsidiary of the bank to a financial intermediary for arranging mortgage refinancing from other banks or financial institutions.
Amy Chow Bik-sum, 47, former assistant customer service manager of OCBC Wing Hang Bank Limited (OCBC Wing Hang Bank), earlier pleaded guilty to one count of offering an advantage to an agent, contrary to Section 9(2) of the Prevention of Bribery Ordinance.
At the material time, the defendant was posted to a branch of OCBC Wing Hang Bank in Tsim Sha Tsui. She was required to handle residential mortgage applications. OCBC Wing Hang Credit Limited (OCBC Credit) is a subsidiary of OCBC Wing Hang Bank.
The court heard that on July 15, 2021, the defendant requested a colleague to refer residential mortgage loan clients of OCBC Credit to a financial intermediary for arranging mortgage refinancing from other banks or financial institutions so that the financial intermediary could earn the relevant referral fees. The defendant promised to offer 70 per cent of the referral fees to the colleague as commissions.
OCBC Wing Hang Bank did not allow its employees to offer, solicit or accept advantages its relation to its business. The defendant’s colleague did not accept the offer.
OCBC Wing Hang Bank had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by prosecuting counsel Marc Andrew Corlett, assisted by ICAC officer Pan Pan.
Amy Chow Bik-sum, 47, former assistant customer service manager of OCBC Wing Hang Bank Limited (OCBC Wing Hang Bank), earlier pleaded guilty to one count of offering an advantage to an agent, contrary to Section 9(2) of the Prevention of Bribery Ordinance.
At the material time, the defendant was posted to a branch of OCBC Wing Hang Bank in Tsim Sha Tsui. She was required to handle residential mortgage applications. OCBC Wing Hang Credit Limited (OCBC Credit) is a subsidiary of OCBC Wing Hang Bank.
The court heard that on July 15, 2021, the defendant requested a colleague to refer residential mortgage loan clients of OCBC Credit to a financial intermediary for arranging mortgage refinancing from other banks or financial institutions so that the financial intermediary could earn the relevant referral fees. The defendant promised to offer 70 per cent of the referral fees to the colleague as commissions.
OCBC Wing Hang Bank did not allow its employees to offer, solicit or accept advantages its relation to its business. The defendant’s colleague did not accept the offer.
OCBC Wing Hang Bank had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by prosecuting counsel Marc Andrew Corlett, assisted by ICAC officer Pan Pan.