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Nov 2025Ex-senior manager of developer and subcontractors charged by ICAC jailed for six to 30 months for bribery over leakage of tendering documentsA senior construction manager of a developer and five directors and staff of four subcontractors, charged by the ICAC, were today (November 28) sentenced to jail terms ranging from six to 24 months at the Shatin Magistrates’ Courts for bribery. The manager had accepted advantages worth about $180,000, including cash, gifts, etc., provided by the co-defendants for disclosing internal documents and information to assist the latter in the tendering exercises for various work packages of 10 construction projects.Constant So Shun-ching, 57, then senior construction manager of Henderson Land Development Company Limited (Henderson Land), was sentenced to 30 months’ imprisonment. He was also ordered to pay Henderson Land a restitution of about $180,000, equivalent to the amount of bribes and other advantages he received in the present case.Mak Hung-cho, 69, shareholder-cum-director of Lee Shing Masonry Engineering Limited (Lee Shing), received a jail term of 16 months.The remaining four co-defendants, namely Zheng Weicheng, 43, shareholder-cum-director of King Fung Development & Construction Company Limited (King Fung); Chung Yiu-hon, 37, staff member of King Fung; Chow Kit, 50, director of Trigon Building Materials Limited (Trigon); and Chan Lok-kau, 69, consultant of Kinway Engineering Limited (Kinway), were jailed for six to 10 months respectively.The six defendants were earlier found guilty after trial of a total of four counts of conspiracy for agent to accept advantages, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance.In sentencing, Magistrate Mr Jeffrey Sze Cho-yiu remarked that the scam had spanned over a long period by means of corruption in exchange for the developer’s confidential information relating to large-scale projects. All defendants warranted a custodial sentence so that the court could convey a correct message to the public: the society did not tolerate corruption. The magistrate added that the offences of the present case were highly serious in nature since the defendants’ illegal acts had seriously undermined Henderson Land’s reputation, resulting a very great risk of potential financial loss.The court heard that at the material time, So was a senior construction manager of Henderson Land. He was responsible for overseeing the works conducted by subcontractors, and providing assistance in tendering exercises of work packages. Lee Shing, King Fung, Trigon and Kinway were registered subcontractors of Henderson Land. They were respectively responsible for plastering, concrete formwork and structure, false ceiling and miscellaneous works.The offences took place between June 2014 and July 2021. So had accepted from the five co-defendants various advantages worth totalling about $180,000 for assisting the four subcontractors – Lee Shing, King Fung, Trigon and Kinway – in the tendering exercises of Henderson Land or its subsidiaries.The advantages which So had accepted were $100,000 in cash, four smartphones worth totalling over $46,000, a birthday banquet worth over $9,000, hotel accommodation in Macao worth about $5,700 and furniture worth $18,000.The ICAC investigation revealed that So had disclosed to the five co-defendants the internal tender documents of Henderson Land in relation to various work packages of 10 residential as well as industrial and commercial construction projects. Such documents contained information including Henderson Land’s estimated cost for the relevant works as well as that concerning tenderers which had submitted the lowest bids.Henderson Land rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by prosecuting counsel Victor Chiu, assisted by ICAC officer Vincent Ching. 24
Nov 2025Then employee of HKEX Listing Division charged by ICAC for alleged bribes-for-confidential-information-disclosure, two others face perversion chargeA then Assistant Vice President of the Hong Kong Exchanges and Clearing Limited (HKEX) was charged by the ICAC last Friday (November 21) for allegedly accepting bribes of $150,000 for disclosing confidential information of listed companies. Two other individuals were charged with perversion in respect of a criminal investigation by the ICAC and the Securities and Futures Commission (SFC) into suspected insider dealings.Tam Cheuk-yin, 38, former Assistant Vice President, IT Team of the Listing Division of the HKEX, faces two counts of public servant accepting an advantage, contrary to section 4(2)(a) of the Prevention of Bribery Ordinance.Co-defendants Alan Chau Tsz-kong, 38; and Tang Hing-yu, 39, jointly face one count of perverting the course of public justice, contrary to the Common Law.The trio were released on ICAC bail while their case is set for mention at the Eastern Magistrates’ Courts tomorrow (November 25). The prosecution will apply to transfer the case to the District Court for plea.Earlier, the ICAC received a corruption complaint in respect of insider dealings referred by the SFC. The two agencies launched a joint investigation. Investigation by the ICAC revealed that at the material time, Tam, due to his operational need, was authorised to access emails of the HKEX containing confidential information and documents, some of which concerned sensitive information of listed companies. The information was accessible only to personnel of the Listing Division for discharging their official duties, and was not allowed to be disclosed to unauthorised parties.In June and December 2024, Tam allegedly accepted two bribe payments totalling $150,000 from Chau for disclosing to the latter price-related confidential information that he illegally retrieved from the email system of the HKEX.It is alleged that on March 4, 2025, Chau and Tang did a series of acts with intent to pervert the course of public justice in a criminal investigation against Chau relating to allegations of insider dealings. Chau is suspected of instructing Tang to safekeep cash in the sum of about $3.9 million, two watches worth a total of over $1 million and a mobile phone, and to tamper with the car camera recording of Tang to frustrate the investigation.As the bribery investigation is ongoing, the ICAC would not rule out taking further enforcement actions or prosecuting other implicated individuals.The ICAC and the SFC have been working closely into the case while the HKEX has been fully assisting the two agencies.The ICAC attaches great importance to upholding the integrity of Hong Kong’s financial market and takes resolute enforcement actions to combat corrupt practices and misconduct which might undermine the fair operation of the market. In view of the present case, the ICAC has assisted the HKEX to review and enhance its relevant systems to avoid the recurrence of such incidents. 21
Nov 2025Last batch of defendants charged by ICAC in $52m dummy agents commissions fraud case jailedA corruption investigation by the ICAC earlier revealed that a branch manager of an insurer had conspired with several dummy insurance agents recruited by her to deceive two insurers into releasing commissions in the total sum of about $52 million by making false representations that the dummy insurance agents had handled 478 insurance policies. While the main culprit and 10 dummy insurance agents were earlier sentenced to jail terms up to 46 months following their guilty pleas, the last batch of six defendants were today (November 21) sentenced to jail terms ranging from 12 to 21 months at the District Court.The six defendants, aged between 25 and 39, were purported insurance agents of FWD Life Insurance Company (Bermuda) Limited (FWD) and Sun Life Hong Kong Limited (Sun Life HK) at the material time. Leung Tsz-wing, Mo Wing-han and Woo Kin-leung had entered guilty pleas, while Lo Nga-wing, Ngan Tsz-ting and Kong Tsz-ying were convicted after trial.In sentencing, Judge Mr Josiah Lam Wai-kuen reprimanded the defendants for failing to uphold the professional conduct expected of insurance agents, being lured by the main culprit to commit the offences of conspiracy to defraud and conspiracy to money laundering in the present case.A total of 17 defendants were charged in the present case with 20 offences – two of conspiracy to defraud, contrary to the Common Law; and 18 of conspiracy to deal with property known or believed to represent proceeds of an indictable offence (conspiracy to launder crime proceeds), contrary to section 25(1) of the Organized and Serious Crimes Ordinance and section 159A(1) the Crimes Ordinance.The main culprit in the present case, Lo Yin-wa, then branch manager of FWD, had earlier pleaded guilty to the 20 charges and was sentenced to 46 months’ imprisonment. Ten other dummy insurance agents, who had entered guilty pleas, received jail terms ranging from 11 to 22 months.The ICAC has always attached high importance to upholding integrity in the insurance sector. The Commission will continue to collaborate with the industry to provide integrity training for insurance practitioners, helping them understand common corruption risks. The ICAC has also developed a Corruption Prevention Guide for Insurance Companies to assist insurance companies in strengthening their corruption prevention capabilities in key operational areas, fostering a probity culture in the industry.The ICAC investigation arose from a corruption complaint against dummy insurance agents. Enquiries revealed that between February 2016 and November 2020, Lo Yin-wa had recruited co-defendants in the case and others to join Sun Life HK or FWD. Lo Yin-wa told some of the recruited persons that they were dummy insurance agents and were not required to source any clients after joining the insurers.The ICAC investigation revealed that Lo Yin-wa had conspired with other FWD insurance agents to falsely represent that the FWD insurance agents recruited by Lo Yin-wa were the handling agents of 272 insurance policy applications. In addition, Lo Yin-wa had conspired with then unit manager of Sun Life HK Kwok Yun-fong and other Sun Life HK insurance agents to falsely represent that the Sun Life HK insurance agents recruited by Lo Yin-wa were the handling agents of 206 insurance policy applications.As a result, Sun Life HK and FWD approved the above 478 applications and released commissions, incentives, bonuses and allowances totalling over $22 million to Lo Yin-wa’s team, and over $29 million to Kwok Yun-fong’s team.Enquiries also revealed that the above 478 insurance policy applications mostly involved high commission rate insurance products. In the end, most of the insurance policies concerned lapsed after subsequent premiums were not paid.Lo Yin-wa had requested the dummy insurance agents to return most of the payments to her after receiving commissions and other payments from the insurers. Individuals involved in the case then laundered crime proceeds totalling about $47 million in relation to the scheme through 23 bank accounts, which in fact were controlled by Lo Yin-wa, to receive the commissions and other payments concerned, the court heard.FWD and Sun Life HK rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by prosecuting counsel Franco Kuan, assisted by ICAC officer William Leung. 18
Nov 2025Four charged by ICAC jailed for 14 to 21 months for $4.6m subcontract payment fraud over false reservoir inspection reportsThe director of a former subcontractor of the Water Supplies Department (WSD) and three of his employees, charged by the ICAC, were today (November 18) sentenced to jail terms of 14 to 21 months at the District Court for conspiracy to defraud by submitting service reservoir inspection reports containing false information to induce the WSD to release service payments totalling about $4.6 million.Lau Ho-kei, 45, sole director-cum-shareholder of Helpful Engineering Company Limited (Helpful Engineering), was sentenced to 21 months’ imprisonment; Li Wing-to, 34, then clerk of Helpful Engineering, received a jail term of 18 months; Kwok Ka-hay and Kwok Ka-kei, both 41 and then handymen of Helpful Engineering, were respectively jailed for 19 and 14 months. The defendants earlier pleaded guilty to a total of two counts of conspiracy to defraud, contrary to the Common Law.In sentencing, Judge Mr Isaac Tam Sze-lok remarked that the defendants had conspired to defraud a government department, undermining the public interest and involving public safety. The Judge took a starting point of 24 to 33 months’ imprisonment for the defendants, and reduced their sentences to 14 to 21 months, having considered their guilty pleas and other mitigating factors.The ICAC had earlier filed an application with the court for the confiscation of Lau’s crime proceeds involved in the present case. Hearing on the application is scheduled for February 13 next year.The court heard that between July 2020 and June 2022, the WSD awarded two term contracts for the provision various waterworks services for the New Territories East District to Ming Hing Waterworks Engineering Company Limited (Ming Hing). Helpful Engineering was subcontracted to conduct inspections at around 40 service reservoirs in the district to maintain safety and condition of the service reservoirs.The WSD required its subcontractors to assign a designated number of teams, each consisting of three members for conducting daily inspections. Subcontractors were also required to compile a daily inspection report supported by photographs taken during the inspections.The ICAC investigation arose from a corruption complaint. Enquiries revealed that at the material time, Helpful Engineering did not conduct the relevant inspections in compliance with the requirements of the WSD.The ICAC investigation revealed that on various occasions, Lau had instructed Kwok Ka-hay, Kwok Ka-kei and other employees of Helpful Engineering to take photographs of waterworks facilities and alter the date and time of the photographs, which purported to have been taken on different days. Upon Lau’s instruction, Helpful Engineering’s employees used those photographs to compile the relevant daily inspection reports for submission to the WSD.Lau and Li had also instructed employees of Helpful Engineering to prepare false attendance records to show that inspection teams had duly conducted daily inspections at the service reservoirs pursuant to the requirements of the WSD and that each inspection was conducted by three members.As a result, the defendants had induced the WSD to release service payments amounting to about $4.6 million to Helpful Engineering through the fraudulent scheme.The WSD and Ming Hing rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by Senior Public Prosecutor Noelle Aileen Chit, assisted by ICAC officer Christine Wong. 07
Nov 2025ICAC and Police joint operation ‘Momentum’: 32 netted for alleged corruption and fraud over $140m special loansThe ICAC and the Police conducted a joint operation, codenamed “Momentum”, on October 30 and 31, against corruption-facilitated fraudulent loan applications for the Special 100% Loan Guarantee as well as the 80% and 90% Guarantee Products under the Small and Medium-sized Enterprises (SME) Financing Guarantee Scheme. A total of 32 individuals were arrested by the two agencies in connection with fraudulent loan applications amounting to $140 million.During the joint operation, the ICAC arrested 20 men and five women, aged between 31 and 63, for bribery offences under the Prevention of Bribery Ordinance. The arrestees included 13 frontline bank employees, seven intermediary operators (intermediaries), and five other individuals. Some of the arrested intermediaries were former bank staff.ICAC officers conducted searches at various premises, where company documents of the intermediaries, bank documents and cash of over $200,000, believed to be part of the bribes in the scam, were seized.The scam took place between June 2022 and May 2025. ICAC investigation revealed that the intermediaries had allegedly recruited dummy SMEs and arranged for them to apply for loans with various local banks through the Government’s SME Financing Guarantee Scheme. Most of the SMEs concerned had no genuine business operations.The intermediaries were suspected to have offered bribes, amounting to at least about $500,000, to frontline bank staff for assisting dummy SMEs to open bank accounts and apply for loans by using false supporting documents. The 28 applications made by 22 SMEs involved loans totalling $140 million. It is alleged that the dummy SMEs had received rewards ranging from 5% to 7% of the loan payments, while the intermediaries pocketed the remaining sums after deducting the bribes paid to bank staff. The joint operation “Momentum” mounted by the ICAC and the Police had successfully intercepted the approval and release of loans of some of the applications.In the joint operation, officers of the Commercial Crime Bureau and the Hong Kong Island Regional Crime Unit of the Police arrested four men and three women, aged between 31 and 66, for alleged fraud offences in the abovementioned loan applications.Investigation revealed that the suspects from nine SMEs allegedly used false salary proofs and company operation records to apply for loans from various local banks under the SME Financing Guarantee Scheme’s 90% Guarantee Product and 100% Guarantee Special Loan. Some of the SMEs involved also opened fake Mandatory Provident Fund accounts and submitted a large number of false financial documents in their applications to obtain higher loan amounts. The total loan amount involved in these applications exceeded $50 million. During the operation, Police officers seized bank documents, bank cards and electronic devices.The Police reminds the public that the maximum penalty for fraud upon conviction is 14 years’ imprisonment. As the investigations are ongoing, the ICAC and the Police do not rule out further law enforcement actions.The ICAC and the Police have maintained close cooperation in combating crimes. The joint operation demonstrates the determination of the two agencies in fighting financial crimes, showcasing the time-tested anti-corruption regime. The ICAC wishes to reiterate that the case only involves individual frontline bank employees and that the Hong Kong banking industry as a whole is clean and the financial system remains robust.The banking industry and relevant regulators have always been supportive of the ICAC’s continuous efforts to fortify the integrity culture of the industry. Last year, the ICAC, the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks jointly launched the Banking Industry Integrity Charter (the Charter). Most of the local banks had participated in the Charter, undertaking to promote an integrity culture, implement good governance, provide integrity training to staff, as well as reporting suspected corruption, fraud and other illicit activities to the ICAC or other law enforcement agencies promptly.The ICAC will continue to enhance corruption prevention capabilities of banks by publishing information of integrity through the Charter’s platform to alert banks to corruption risks relating to loan applications as well as relevant corruption prevention measures. The Commission will also continue to provide timely corruption prevention advice and integrity training to bank staff. Meanwhile, the Hong Kong International Anti-Corruption Academy continues to organise professional anti-corruption courses for bank managers, enhancing the awareness of internal control personnel in preventing corruption and fraud, helping banks to detect corruption and fraud at an early stage. The strategy is highly effective.Following the joint operation “Momentum”, the ICAC will continue to work closely with the HKMC Insurance Limited (HKMCI) as well as the banking industry, providing timely advice so as to reduce relevant risks. The HKMCI will continue to closely cooperate with the banking sector and law enforcement agencies to prevent the recurrence of similar incidents.The HKMA, the HKMCI and the relevant banks rendered full assistance to the ICAC and the Police during the investigations.
Nov 2025Ex-senior manager of developer and subcontractors charged by ICAC jailed for six to 30 months for bribery over leakage of tendering documentsA senior construction manager of a developer and five directors and staff of four subcontractors, charged by the ICAC, were today (November 28) sentenced to jail terms ranging from six to 24 months at the Shatin Magistrates’ Courts for bribery. The manager had accepted advantages worth about $180,000, including cash, gifts, etc., provided by the co-defendants for disclosing internal documents and information to assist the latter in the tendering exercises for various work packages of 10 construction projects.Constant So Shun-ching, 57, then senior construction manager of Henderson Land Development Company Limited (Henderson Land), was sentenced to 30 months’ imprisonment. He was also ordered to pay Henderson Land a restitution of about $180,000, equivalent to the amount of bribes and other advantages he received in the present case.Mak Hung-cho, 69, shareholder-cum-director of Lee Shing Masonry Engineering Limited (Lee Shing), received a jail term of 16 months.The remaining four co-defendants, namely Zheng Weicheng, 43, shareholder-cum-director of King Fung Development & Construction Company Limited (King Fung); Chung Yiu-hon, 37, staff member of King Fung; Chow Kit, 50, director of Trigon Building Materials Limited (Trigon); and Chan Lok-kau, 69, consultant of Kinway Engineering Limited (Kinway), were jailed for six to 10 months respectively.The six defendants were earlier found guilty after trial of a total of four counts of conspiracy for agent to accept advantages, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance.In sentencing, Magistrate Mr Jeffrey Sze Cho-yiu remarked that the scam had spanned over a long period by means of corruption in exchange for the developer’s confidential information relating to large-scale projects. All defendants warranted a custodial sentence so that the court could convey a correct message to the public: the society did not tolerate corruption. The magistrate added that the offences of the present case were highly serious in nature since the defendants’ illegal acts had seriously undermined Henderson Land’s reputation, resulting a very great risk of potential financial loss.The court heard that at the material time, So was a senior construction manager of Henderson Land. He was responsible for overseeing the works conducted by subcontractors, and providing assistance in tendering exercises of work packages. Lee Shing, King Fung, Trigon and Kinway were registered subcontractors of Henderson Land. They were respectively responsible for plastering, concrete formwork and structure, false ceiling and miscellaneous works.The offences took place between June 2014 and July 2021. So had accepted from the five co-defendants various advantages worth totalling about $180,000 for assisting the four subcontractors – Lee Shing, King Fung, Trigon and Kinway – in the tendering exercises of Henderson Land or its subsidiaries.The advantages which So had accepted were $100,000 in cash, four smartphones worth totalling over $46,000, a birthday banquet worth over $9,000, hotel accommodation in Macao worth about $5,700 and furniture worth $18,000.The ICAC investigation revealed that So had disclosed to the five co-defendants the internal tender documents of Henderson Land in relation to various work packages of 10 residential as well as industrial and commercial construction projects. Such documents contained information including Henderson Land’s estimated cost for the relevant works as well as that concerning tenderers which had submitted the lowest bids.Henderson Land rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by prosecuting counsel Victor Chiu, assisted by ICAC officer Vincent Ching. 24
Nov 2025Then employee of HKEX Listing Division charged by ICAC for alleged bribes-for-confidential-information-disclosure, two others face perversion chargeA then Assistant Vice President of the Hong Kong Exchanges and Clearing Limited (HKEX) was charged by the ICAC last Friday (November 21) for allegedly accepting bribes of $150,000 for disclosing confidential information of listed companies. Two other individuals were charged with perversion in respect of a criminal investigation by the ICAC and the Securities and Futures Commission (SFC) into suspected insider dealings.Tam Cheuk-yin, 38, former Assistant Vice President, IT Team of the Listing Division of the HKEX, faces two counts of public servant accepting an advantage, contrary to section 4(2)(a) of the Prevention of Bribery Ordinance.Co-defendants Alan Chau Tsz-kong, 38; and Tang Hing-yu, 39, jointly face one count of perverting the course of public justice, contrary to the Common Law.The trio were released on ICAC bail while their case is set for mention at the Eastern Magistrates’ Courts tomorrow (November 25). The prosecution will apply to transfer the case to the District Court for plea.Earlier, the ICAC received a corruption complaint in respect of insider dealings referred by the SFC. The two agencies launched a joint investigation. Investigation by the ICAC revealed that at the material time, Tam, due to his operational need, was authorised to access emails of the HKEX containing confidential information and documents, some of which concerned sensitive information of listed companies. The information was accessible only to personnel of the Listing Division for discharging their official duties, and was not allowed to be disclosed to unauthorised parties.In June and December 2024, Tam allegedly accepted two bribe payments totalling $150,000 from Chau for disclosing to the latter price-related confidential information that he illegally retrieved from the email system of the HKEX.It is alleged that on March 4, 2025, Chau and Tang did a series of acts with intent to pervert the course of public justice in a criminal investigation against Chau relating to allegations of insider dealings. Chau is suspected of instructing Tang to safekeep cash in the sum of about $3.9 million, two watches worth a total of over $1 million and a mobile phone, and to tamper with the car camera recording of Tang to frustrate the investigation.As the bribery investigation is ongoing, the ICAC would not rule out taking further enforcement actions or prosecuting other implicated individuals.The ICAC and the SFC have been working closely into the case while the HKEX has been fully assisting the two agencies.The ICAC attaches great importance to upholding the integrity of Hong Kong’s financial market and takes resolute enforcement actions to combat corrupt practices and misconduct which might undermine the fair operation of the market. In view of the present case, the ICAC has assisted the HKEX to review and enhance its relevant systems to avoid the recurrence of such incidents. 21
Nov 2025Last batch of defendants charged by ICAC in $52m dummy agents commissions fraud case jailedA corruption investigation by the ICAC earlier revealed that a branch manager of an insurer had conspired with several dummy insurance agents recruited by her to deceive two insurers into releasing commissions in the total sum of about $52 million by making false representations that the dummy insurance agents had handled 478 insurance policies. While the main culprit and 10 dummy insurance agents were earlier sentenced to jail terms up to 46 months following their guilty pleas, the last batch of six defendants were today (November 21) sentenced to jail terms ranging from 12 to 21 months at the District Court.The six defendants, aged between 25 and 39, were purported insurance agents of FWD Life Insurance Company (Bermuda) Limited (FWD) and Sun Life Hong Kong Limited (Sun Life HK) at the material time. Leung Tsz-wing, Mo Wing-han and Woo Kin-leung had entered guilty pleas, while Lo Nga-wing, Ngan Tsz-ting and Kong Tsz-ying were convicted after trial.In sentencing, Judge Mr Josiah Lam Wai-kuen reprimanded the defendants for failing to uphold the professional conduct expected of insurance agents, being lured by the main culprit to commit the offences of conspiracy to defraud and conspiracy to money laundering in the present case.A total of 17 defendants were charged in the present case with 20 offences – two of conspiracy to defraud, contrary to the Common Law; and 18 of conspiracy to deal with property known or believed to represent proceeds of an indictable offence (conspiracy to launder crime proceeds), contrary to section 25(1) of the Organized and Serious Crimes Ordinance and section 159A(1) the Crimes Ordinance.The main culprit in the present case, Lo Yin-wa, then branch manager of FWD, had earlier pleaded guilty to the 20 charges and was sentenced to 46 months’ imprisonment. Ten other dummy insurance agents, who had entered guilty pleas, received jail terms ranging from 11 to 22 months.The ICAC has always attached high importance to upholding integrity in the insurance sector. The Commission will continue to collaborate with the industry to provide integrity training for insurance practitioners, helping them understand common corruption risks. The ICAC has also developed a Corruption Prevention Guide for Insurance Companies to assist insurance companies in strengthening their corruption prevention capabilities in key operational areas, fostering a probity culture in the industry.The ICAC investigation arose from a corruption complaint against dummy insurance agents. Enquiries revealed that between February 2016 and November 2020, Lo Yin-wa had recruited co-defendants in the case and others to join Sun Life HK or FWD. Lo Yin-wa told some of the recruited persons that they were dummy insurance agents and were not required to source any clients after joining the insurers.The ICAC investigation revealed that Lo Yin-wa had conspired with other FWD insurance agents to falsely represent that the FWD insurance agents recruited by Lo Yin-wa were the handling agents of 272 insurance policy applications. In addition, Lo Yin-wa had conspired with then unit manager of Sun Life HK Kwok Yun-fong and other Sun Life HK insurance agents to falsely represent that the Sun Life HK insurance agents recruited by Lo Yin-wa were the handling agents of 206 insurance policy applications.As a result, Sun Life HK and FWD approved the above 478 applications and released commissions, incentives, bonuses and allowances totalling over $22 million to Lo Yin-wa’s team, and over $29 million to Kwok Yun-fong’s team.Enquiries also revealed that the above 478 insurance policy applications mostly involved high commission rate insurance products. In the end, most of the insurance policies concerned lapsed after subsequent premiums were not paid.Lo Yin-wa had requested the dummy insurance agents to return most of the payments to her after receiving commissions and other payments from the insurers. Individuals involved in the case then laundered crime proceeds totalling about $47 million in relation to the scheme through 23 bank accounts, which in fact were controlled by Lo Yin-wa, to receive the commissions and other payments concerned, the court heard.FWD and Sun Life HK rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by prosecuting counsel Franco Kuan, assisted by ICAC officer William Leung. 18
Nov 2025Four charged by ICAC jailed for 14 to 21 months for $4.6m subcontract payment fraud over false reservoir inspection reportsThe director of a former subcontractor of the Water Supplies Department (WSD) and three of his employees, charged by the ICAC, were today (November 18) sentenced to jail terms of 14 to 21 months at the District Court for conspiracy to defraud by submitting service reservoir inspection reports containing false information to induce the WSD to release service payments totalling about $4.6 million.Lau Ho-kei, 45, sole director-cum-shareholder of Helpful Engineering Company Limited (Helpful Engineering), was sentenced to 21 months’ imprisonment; Li Wing-to, 34, then clerk of Helpful Engineering, received a jail term of 18 months; Kwok Ka-hay and Kwok Ka-kei, both 41 and then handymen of Helpful Engineering, were respectively jailed for 19 and 14 months. The defendants earlier pleaded guilty to a total of two counts of conspiracy to defraud, contrary to the Common Law.In sentencing, Judge Mr Isaac Tam Sze-lok remarked that the defendants had conspired to defraud a government department, undermining the public interest and involving public safety. The Judge took a starting point of 24 to 33 months’ imprisonment for the defendants, and reduced their sentences to 14 to 21 months, having considered their guilty pleas and other mitigating factors.The ICAC had earlier filed an application with the court for the confiscation of Lau’s crime proceeds involved in the present case. Hearing on the application is scheduled for February 13 next year.The court heard that between July 2020 and June 2022, the WSD awarded two term contracts for the provision various waterworks services for the New Territories East District to Ming Hing Waterworks Engineering Company Limited (Ming Hing). Helpful Engineering was subcontracted to conduct inspections at around 40 service reservoirs in the district to maintain safety and condition of the service reservoirs.The WSD required its subcontractors to assign a designated number of teams, each consisting of three members for conducting daily inspections. Subcontractors were also required to compile a daily inspection report supported by photographs taken during the inspections.The ICAC investigation arose from a corruption complaint. Enquiries revealed that at the material time, Helpful Engineering did not conduct the relevant inspections in compliance with the requirements of the WSD.The ICAC investigation revealed that on various occasions, Lau had instructed Kwok Ka-hay, Kwok Ka-kei and other employees of Helpful Engineering to take photographs of waterworks facilities and alter the date and time of the photographs, which purported to have been taken on different days. Upon Lau’s instruction, Helpful Engineering’s employees used those photographs to compile the relevant daily inspection reports for submission to the WSD.Lau and Li had also instructed employees of Helpful Engineering to prepare false attendance records to show that inspection teams had duly conducted daily inspections at the service reservoirs pursuant to the requirements of the WSD and that each inspection was conducted by three members.As a result, the defendants had induced the WSD to release service payments amounting to about $4.6 million to Helpful Engineering through the fraudulent scheme.The WSD and Ming Hing rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by Senior Public Prosecutor Noelle Aileen Chit, assisted by ICAC officer Christine Wong. 07
Nov 2025ICAC and Police joint operation ‘Momentum’: 32 netted for alleged corruption and fraud over $140m special loansThe ICAC and the Police conducted a joint operation, codenamed “Momentum”, on October 30 and 31, against corruption-facilitated fraudulent loan applications for the Special 100% Loan Guarantee as well as the 80% and 90% Guarantee Products under the Small and Medium-sized Enterprises (SME) Financing Guarantee Scheme. A total of 32 individuals were arrested by the two agencies in connection with fraudulent loan applications amounting to $140 million.During the joint operation, the ICAC arrested 20 men and five women, aged between 31 and 63, for bribery offences under the Prevention of Bribery Ordinance. The arrestees included 13 frontline bank employees, seven intermediary operators (intermediaries), and five other individuals. Some of the arrested intermediaries were former bank staff.ICAC officers conducted searches at various premises, where company documents of the intermediaries, bank documents and cash of over $200,000, believed to be part of the bribes in the scam, were seized.The scam took place between June 2022 and May 2025. ICAC investigation revealed that the intermediaries had allegedly recruited dummy SMEs and arranged for them to apply for loans with various local banks through the Government’s SME Financing Guarantee Scheme. Most of the SMEs concerned had no genuine business operations.The intermediaries were suspected to have offered bribes, amounting to at least about $500,000, to frontline bank staff for assisting dummy SMEs to open bank accounts and apply for loans by using false supporting documents. The 28 applications made by 22 SMEs involved loans totalling $140 million. It is alleged that the dummy SMEs had received rewards ranging from 5% to 7% of the loan payments, while the intermediaries pocketed the remaining sums after deducting the bribes paid to bank staff. The joint operation “Momentum” mounted by the ICAC and the Police had successfully intercepted the approval and release of loans of some of the applications.In the joint operation, officers of the Commercial Crime Bureau and the Hong Kong Island Regional Crime Unit of the Police arrested four men and three women, aged between 31 and 66, for alleged fraud offences in the abovementioned loan applications.Investigation revealed that the suspects from nine SMEs allegedly used false salary proofs and company operation records to apply for loans from various local banks under the SME Financing Guarantee Scheme’s 90% Guarantee Product and 100% Guarantee Special Loan. Some of the SMEs involved also opened fake Mandatory Provident Fund accounts and submitted a large number of false financial documents in their applications to obtain higher loan amounts. The total loan amount involved in these applications exceeded $50 million. During the operation, Police officers seized bank documents, bank cards and electronic devices.The Police reminds the public that the maximum penalty for fraud upon conviction is 14 years’ imprisonment. As the investigations are ongoing, the ICAC and the Police do not rule out further law enforcement actions.The ICAC and the Police have maintained close cooperation in combating crimes. The joint operation demonstrates the determination of the two agencies in fighting financial crimes, showcasing the time-tested anti-corruption regime. The ICAC wishes to reiterate that the case only involves individual frontline bank employees and that the Hong Kong banking industry as a whole is clean and the financial system remains robust.The banking industry and relevant regulators have always been supportive of the ICAC’s continuous efforts to fortify the integrity culture of the industry. Last year, the ICAC, the Hong Kong Monetary Authority (HKMA) and the Hong Kong Association of Banks jointly launched the Banking Industry Integrity Charter (the Charter). Most of the local banks had participated in the Charter, undertaking to promote an integrity culture, implement good governance, provide integrity training to staff, as well as reporting suspected corruption, fraud and other illicit activities to the ICAC or other law enforcement agencies promptly.The ICAC will continue to enhance corruption prevention capabilities of banks by publishing information of integrity through the Charter’s platform to alert banks to corruption risks relating to loan applications as well as relevant corruption prevention measures. The Commission will also continue to provide timely corruption prevention advice and integrity training to bank staff. Meanwhile, the Hong Kong International Anti-Corruption Academy continues to organise professional anti-corruption courses for bank managers, enhancing the awareness of internal control personnel in preventing corruption and fraud, helping banks to detect corruption and fraud at an early stage. The strategy is highly effective.Following the joint operation “Momentum”, the ICAC will continue to work closely with the HKMC Insurance Limited (HKMCI) as well as the banking industry, providing timely advice so as to reduce relevant risks. The HKMCI will continue to closely cooperate with the banking sector and law enforcement agencies to prevent the recurrence of similar incidents.The HKMA, the HKMCI and the relevant banks rendered full assistance to the ICAC and the Police during the investigations.