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Ethical Decision MakingRecent ICAC Cases
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Mar 2026Property vendors charged by ICAC for offering bribe to estate agent for waiving agency commissionTwo property vendors were charged by the ICAC yesterday (March 11) for allegedly offering $30,000 in bribe to an estate agent for waiving $155,000 in an agency commission in relation to the sale of a residential property.Leung Kee-ming, 48, and Tse Wai-ling, 34, jointly face one count of offering an advantage to an agent, contrary to section 9(2)(a) of the Prevention of Bribery Ordinance (POBO). The duo were released on ICAC bail, pending their appearance for plea at the West Kowloon Magistrates’ Courts tomorrow (March 13).At the material time, Leung had engaged Centaline Property Agency Limited (Centaline Property) to sell a residential flat on Lantau Island. According to the estate agency agreement he signed with Centaline Property, he agreed to pay one per cent of the property transaction sum as agency commission to Centaline Property upon successful transaction.After subsequently securing a potential buyer for the flat, an estate agent of Centaline Property informed the defendants that an offer of $15.5 million was made. Pursuant to the abovementioned signed estate agency agreement, Leung was required to pay an agency commission of $155,000 to Centaline Property after successful transaction.The estate agent subsequently arranged both Leung and the buyer to sign a preliminary sale and purchase agreement (the preliminary agreement) on December 24, 2023.The charge alleges that on December 23, 2023, one day before the preliminary agreement was scheduled to be signed, the defendants offered a bribe of $30,000 to the estate agent for waiving the agency commission that would be charged by Centaline Property for property transaction.The estate agent rejected the bribe and reported the matter to Centaline Property on the same day. Centaline Property rendered full assistance to the ICAC during its investigation into the case.According to Section 9 of the POBO, it is a bribery offence for a person who, without lawful authority or reasonable excuse, offers an advantage (including money, gifts, loans, commissions, positions, contracts, services, favours, etc.) to an agent (including employees of private organisations) to influence the agent in exercising one’s duties. Members of the public should report suspected corruption to the ICAC without delay. 12
Mar 2026Joint press release: ICAC and SFC joint operation in alleged insider dealings and corruption involving senior executives of licensed corporationsThe Independent Commission Against Corruption (ICAC) and the Securities and Futures Commission (SFC) conducted a joint operation codenamed “Fuse” on March 10 and 11 targeting insider dealing and involving corruption. Senior executives of three licensed corporations, including two securities firms and a hedge fund management firm, were persons of interest in the case (Note 1).During the joint operation, officers of the ICAC and the SFC searched a total of 14 locations, including the offices of the licenced corporations, as well as residences of the arrestees. The ICAC also arrested six men and two women, aged between 35 and 60. The arrestees included, among others, senior executives of the two licenced securities firms and the licensed hedge fund management firm, as well as a middleman (Note 2).It is suspected that senior executives of the licenced securities firms had accepted bribes over $4 million from the owner of the licensed hedge fund management firm for disclosing confidential information regarding share placements of various Hong Kong - listed companies before such information was publicly announced.Armed with such confidential information, the licensed hedge fund management firm established short positions for its hedge fund in the relevant stocks by short selling the stocks in the market and/or entering into short equity swap contracts. When the share placements were publicly announced, the share prices of the concerned stocks declined, and the hedge fund allegedly made profits of around $315 million from its short positions.The joint operation stemmed from the SFC’s initial investigation of the suspected insider dealing activities, which uncovered potential corruption. The case was subsequently referred to the ICAC for investigation into suspected corruption, while the SFC focused on insider dealing and other misconduct under the Securities and Futures Ordinance.As the investigation is ongoing, no further comments will be made by the ICAC and the SFC.Notes:1. The joint operation was conducted under the arrangement of the Memorandum of Understanding signed between the ICAC and the SFC.2. The individuals involved are suspected of breaching the provisions under the Prevention of Bribery Ordinance, including offering advantages to agents and agents accepting advantages (i.e., offering and acceptance of bribes). Additionally, they are also suspected of committing offences under the Organized and Serious Crimes Ordinance, specifically handling property known or believed to represent proceeds of indictable offences (commonly known as “money-laundering”), offences under the Securities and Futures Ordinance involving insider dealings and other relevant crimes and misconducts. 11
Mar 2026Shuttle bus company operations assistant charged by ICAC for soliciting and accepting $40,000 bribes over driver employmentAn operations assistant of a shuttle bus company was charged by the ICAC yesterday (March 10) for allegedly soliciting and accepting bribes totalling over $40,000 over the employment of a driver.Chow King-lung, 45, operations assistant of a subsidiary of Great Leader Bus Holdings Limited (Great Leader Bus), faces five counts of agent accepting an advantage and one count of agent soliciting an advantage, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance.The defendant was released on ICAC bail, pending his appearance for plea at the Tuen Mun Magistrates’ Courts tomorrow (March 12).At the material time, the defendant was responsible for employing drivers and managing the operation of transportation services for Great Leader Bus and its subsidiaries, including a shuttle bus route for providing transportation services to government staff.In the five consecutive months between September 2024 and January 2025, the defendant had allegedly accepted bribes totalling over $32,000 from a driver for employing her as driver for the abovementioned route.It is also alleged that in February 2025, the defendant had further solicited a bribe of over $8,400 from the driver, who did not accede to the defendant’s solicitation this time.The ICAC investigation arose from a corruption complaint. Enquiries revealed that the defendant had allegedly solicited from the driver a monthly bribe ranging from about $3,400 to about $7,500. The driver would not be employed as a driver of the route if she had not paid bribes.Great Leader Bus rendered full assistance to the ICAC during its investigation into the case. 10
Mar 2026Tenant charged by ICAC guilty of bribing estate agent to avoid paying default tenancy compensationA tenant of a residential flat, charged by the ICAC, was today (March 10) convicted at the Shatin Magistrates’ Courts of offering a bribe of $1,000 to an estate agent and requesting the latter to conceal from an estate agency that he had defaulted a tenancy agreement to avoid giving up his deposit as compensation.Du Du, 48, was found guilty after trial of one count of offering an advantage to an agent, contrary to section 9(2)(a) of Prevention of Bribery Ordinance (POBO).Magistrate Mr Jeffrey Sze Cho-yiu noted that in the present case, a custodial sentence was inevitable. The magistrate adjourned the case to March 25 for sentence, and granted him bail pending the defendant’s background report.The court heard that on the morning of November 6, 2022, the defendant viewed a residential flat in Tai Wai for rent upon the arrangement by an estate agent of Midland Realty International Limited (Midland Realty). The defendant rented the flat at $16,000 per month by signing a provisional tenancy agreement with the flat owner on the spot.The defendant subsequently viewed another flat in the same estate through another channel. On the same afternoon, he contacted the estate agent expressing his wish to cancel the provisional tenancy agreement.According to the terms of the agreement, the party cancelling the agreement had to pay a compensation equivalent to the deposit, i.e., $16,000. The defendant then offered a bribe of $1,000 to the estate agent and requested the latter to assist in concealing from Midland Realty that he had signed the provisional tenancy agreement with the flat owner but defaulted the agreement.The estate agent did not accept the bribe and reported the matter to Midland Realty, which rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by Senior Public Prosecutor Timothy Chen, assisted by ICAC officer Emily Cheung.According to Section 9 of the POBO, it is a bribery offence for a person who, without lawful authority or reasonable excuse, offers an advantage (including money, gifts, loans, commissions, positions, contracts, services, favours, etc.) to an agent (including employees of private organisations) to influence the agent in exercising one’s duties. Members of the public should report suspected corruption to the ICAC without delay. 23
Feb 2026Vice president of secretarial company charged by ICAC with bribery for diverting business to rivalA former vice president of a secretarial company was charged by the ICAC today (February 23) for allegedly accepting bribes totalling over $67,000 for secretly diverting three clients to a business rival.So Shuk-yi Betty, 59, former vice president of SWCS Corporate Services Group (Hong Kong) Limited (SWCS), faces six counts of agent accepting an advantage, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance; and two counts of fraud, contrary to section 16A(1) of the Theft Ordinance.The defendant was released on ICAC bail, pending her appearance for mention at the Eastern Magistrates’ Courts on Wednesday (February 25).SWCS is a corporate service company which provided company secretarial and compliance services. Between March 2021 and December 2023, the defendant received service requests from three clients, including preparation of internal control review report, drafting annual report, and notarisation and apostille services.The six bribery charges allege that the defendant accepted bribes totalling over $67,000 from a director of R&T Corporate Services Limited (RTCS) for secretly referring contracts worth $400,000 of three clients of SWCS to RTCS.The two fraud charges allege that the defendant made false representations to one of the three clients that SWCS was unable to provide the relevant services, and with intent to defraud, induced the client to engage RTCS to provide the services at $30,000 in total.SWCS rendered full assistance to the ICAC during its investigation into the case.
Mar 2026Property vendors charged by ICAC for offering bribe to estate agent for waiving agency commissionTwo property vendors were charged by the ICAC yesterday (March 11) for allegedly offering $30,000 in bribe to an estate agent for waiving $155,000 in an agency commission in relation to the sale of a residential property.Leung Kee-ming, 48, and Tse Wai-ling, 34, jointly face one count of offering an advantage to an agent, contrary to section 9(2)(a) of the Prevention of Bribery Ordinance (POBO). The duo were released on ICAC bail, pending their appearance for plea at the West Kowloon Magistrates’ Courts tomorrow (March 13).At the material time, Leung had engaged Centaline Property Agency Limited (Centaline Property) to sell a residential flat on Lantau Island. According to the estate agency agreement he signed with Centaline Property, he agreed to pay one per cent of the property transaction sum as agency commission to Centaline Property upon successful transaction.After subsequently securing a potential buyer for the flat, an estate agent of Centaline Property informed the defendants that an offer of $15.5 million was made. Pursuant to the abovementioned signed estate agency agreement, Leung was required to pay an agency commission of $155,000 to Centaline Property after successful transaction.The estate agent subsequently arranged both Leung and the buyer to sign a preliminary sale and purchase agreement (the preliminary agreement) on December 24, 2023.The charge alleges that on December 23, 2023, one day before the preliminary agreement was scheduled to be signed, the defendants offered a bribe of $30,000 to the estate agent for waiving the agency commission that would be charged by Centaline Property for property transaction.The estate agent rejected the bribe and reported the matter to Centaline Property on the same day. Centaline Property rendered full assistance to the ICAC during its investigation into the case.According to Section 9 of the POBO, it is a bribery offence for a person who, without lawful authority or reasonable excuse, offers an advantage (including money, gifts, loans, commissions, positions, contracts, services, favours, etc.) to an agent (including employees of private organisations) to influence the agent in exercising one’s duties. Members of the public should report suspected corruption to the ICAC without delay. 12
Mar 2026Joint press release: ICAC and SFC joint operation in alleged insider dealings and corruption involving senior executives of licensed corporationsThe Independent Commission Against Corruption (ICAC) and the Securities and Futures Commission (SFC) conducted a joint operation codenamed “Fuse” on March 10 and 11 targeting insider dealing and involving corruption. Senior executives of three licensed corporations, including two securities firms and a hedge fund management firm, were persons of interest in the case (Note 1).During the joint operation, officers of the ICAC and the SFC searched a total of 14 locations, including the offices of the licenced corporations, as well as residences of the arrestees. The ICAC also arrested six men and two women, aged between 35 and 60. The arrestees included, among others, senior executives of the two licenced securities firms and the licensed hedge fund management firm, as well as a middleman (Note 2).It is suspected that senior executives of the licenced securities firms had accepted bribes over $4 million from the owner of the licensed hedge fund management firm for disclosing confidential information regarding share placements of various Hong Kong - listed companies before such information was publicly announced.Armed with such confidential information, the licensed hedge fund management firm established short positions for its hedge fund in the relevant stocks by short selling the stocks in the market and/or entering into short equity swap contracts. When the share placements were publicly announced, the share prices of the concerned stocks declined, and the hedge fund allegedly made profits of around $315 million from its short positions.The joint operation stemmed from the SFC’s initial investigation of the suspected insider dealing activities, which uncovered potential corruption. The case was subsequently referred to the ICAC for investigation into suspected corruption, while the SFC focused on insider dealing and other misconduct under the Securities and Futures Ordinance.As the investigation is ongoing, no further comments will be made by the ICAC and the SFC.Notes:1. The joint operation was conducted under the arrangement of the Memorandum of Understanding signed between the ICAC and the SFC.2. The individuals involved are suspected of breaching the provisions under the Prevention of Bribery Ordinance, including offering advantages to agents and agents accepting advantages (i.e., offering and acceptance of bribes). Additionally, they are also suspected of committing offences under the Organized and Serious Crimes Ordinance, specifically handling property known or believed to represent proceeds of indictable offences (commonly known as “money-laundering”), offences under the Securities and Futures Ordinance involving insider dealings and other relevant crimes and misconducts. 11
Mar 2026Shuttle bus company operations assistant charged by ICAC for soliciting and accepting $40,000 bribes over driver employmentAn operations assistant of a shuttle bus company was charged by the ICAC yesterday (March 10) for allegedly soliciting and accepting bribes totalling over $40,000 over the employment of a driver.Chow King-lung, 45, operations assistant of a subsidiary of Great Leader Bus Holdings Limited (Great Leader Bus), faces five counts of agent accepting an advantage and one count of agent soliciting an advantage, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance.The defendant was released on ICAC bail, pending his appearance for plea at the Tuen Mun Magistrates’ Courts tomorrow (March 12).At the material time, the defendant was responsible for employing drivers and managing the operation of transportation services for Great Leader Bus and its subsidiaries, including a shuttle bus route for providing transportation services to government staff.In the five consecutive months between September 2024 and January 2025, the defendant had allegedly accepted bribes totalling over $32,000 from a driver for employing her as driver for the abovementioned route.It is also alleged that in February 2025, the defendant had further solicited a bribe of over $8,400 from the driver, who did not accede to the defendant’s solicitation this time.The ICAC investigation arose from a corruption complaint. Enquiries revealed that the defendant had allegedly solicited from the driver a monthly bribe ranging from about $3,400 to about $7,500. The driver would not be employed as a driver of the route if she had not paid bribes.Great Leader Bus rendered full assistance to the ICAC during its investigation into the case. 10
Mar 2026Tenant charged by ICAC guilty of bribing estate agent to avoid paying default tenancy compensationA tenant of a residential flat, charged by the ICAC, was today (March 10) convicted at the Shatin Magistrates’ Courts of offering a bribe of $1,000 to an estate agent and requesting the latter to conceal from an estate agency that he had defaulted a tenancy agreement to avoid giving up his deposit as compensation.Du Du, 48, was found guilty after trial of one count of offering an advantage to an agent, contrary to section 9(2)(a) of Prevention of Bribery Ordinance (POBO).Magistrate Mr Jeffrey Sze Cho-yiu noted that in the present case, a custodial sentence was inevitable. The magistrate adjourned the case to March 25 for sentence, and granted him bail pending the defendant’s background report.The court heard that on the morning of November 6, 2022, the defendant viewed a residential flat in Tai Wai for rent upon the arrangement by an estate agent of Midland Realty International Limited (Midland Realty). The defendant rented the flat at $16,000 per month by signing a provisional tenancy agreement with the flat owner on the spot.The defendant subsequently viewed another flat in the same estate through another channel. On the same afternoon, he contacted the estate agent expressing his wish to cancel the provisional tenancy agreement.According to the terms of the agreement, the party cancelling the agreement had to pay a compensation equivalent to the deposit, i.e., $16,000. The defendant then offered a bribe of $1,000 to the estate agent and requested the latter to assist in concealing from Midland Realty that he had signed the provisional tenancy agreement with the flat owner but defaulted the agreement.The estate agent did not accept the bribe and reported the matter to Midland Realty, which rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by Senior Public Prosecutor Timothy Chen, assisted by ICAC officer Emily Cheung.According to Section 9 of the POBO, it is a bribery offence for a person who, without lawful authority or reasonable excuse, offers an advantage (including money, gifts, loans, commissions, positions, contracts, services, favours, etc.) to an agent (including employees of private organisations) to influence the agent in exercising one’s duties. Members of the public should report suspected corruption to the ICAC without delay. 23
Feb 2026Vice president of secretarial company charged by ICAC with bribery for diverting business to rivalA former vice president of a secretarial company was charged by the ICAC today (February 23) for allegedly accepting bribes totalling over $67,000 for secretly diverting three clients to a business rival.So Shuk-yi Betty, 59, former vice president of SWCS Corporate Services Group (Hong Kong) Limited (SWCS), faces six counts of agent accepting an advantage, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance; and two counts of fraud, contrary to section 16A(1) of the Theft Ordinance.The defendant was released on ICAC bail, pending her appearance for mention at the Eastern Magistrates’ Courts on Wednesday (February 25).SWCS is a corporate service company which provided company secretarial and compliance services. Between March 2021 and December 2023, the defendant received service requests from three clients, including preparation of internal control review report, drafting annual report, and notarisation and apostille services.The six bribery charges allege that the defendant accepted bribes totalling over $67,000 from a director of R&T Corporate Services Limited (RTCS) for secretly referring contracts worth $400,000 of three clients of SWCS to RTCS.The two fraud charges allege that the defendant made false representations to one of the three clients that SWCS was unable to provide the relevant services, and with intent to defraud, induced the client to engage RTCS to provide the services at $30,000 in total.SWCS rendered full assistance to the ICAC during its investigation into the case.