Recent ICAC Cases

May 2020
Trio charged with fraud over valuation services referral commission

Two former employees of an asset valuation firm and the wife of one of the duo have been charged by the ICAC today (May 13) for conspiracy to defraud the company of a commission of $13,800 for referring a client to the firm for valuation services.

Tsang Kang-po, 34, former director of Greater China Appraisal Limited (Greater China Appraisal); Wong Ka-chun, 35, former senior manager of Greater China Appraisal; and Gloria Leung Sze-wai, 34, wife of Wong, jointly face one count of conspiracy to defraud, contrary to Common Law.

The defendants will appear at the Eastern Magistracy on Friday (May 15) for plea.

The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offence.

At the material time, Tsang was a director of Greater China Appraisal which provided various corporate services and consultations, including valuation of commercial and intangible properties. Tsang was the head of its business valuation and transaction advisory team while Wong was a senior manager of the team under Tsang’s supervision. Leung was Wong’s girlfriend at the time.

According to Greater China Appraisal’s referral commission scheme, if a new client was referred to the firm by a person who was not its staff member, the referee would be paid a commission ranging from 10 per cent to 30 per cent of the contract sum.

The charge alleges that between February 3 and May 13, 2016, Tsang, Wong and Leung conspired together to defraud Greater China Appraisal by dishonestly falsely representing to the firm that Leung referred an information technology company to engage its services, thereby inducing Greater China Appraisal to pay Leung a referral commission of $13,800.

Greater China Appraisal and the abovementioned information technology company have rendered full assistance to the ICAC during its investigation into the case.

The defendants have been released on ICAC bail, pending their court appearance on Friday.

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