Recent ICAC Cases

Jan 2023
Clerk charged by ICAC with accepting $400,000 bribes from money exchange duo over $120m remittance

The ICAC today (January 17) charged a clerk of a handbag manufacturer with accepting bribes totalling over $400,000 from two staff members of a currency exchange company for causing the manufacturer to remit $120 million via the currency exchange company.

Kung Hoi, 55, clerk of Creaton Enterprises Limited (Creaton), faces one count of conspiracy for an agent to accept an advantage, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance.

The defendant was released on ICAC bail, pending his appearance in the West Kowloon Magistrates’ Courts on Thursday (January 19) for plea.

At the material time, the defendant was a clerk of Creaton, a handbag manufacturer. Among his duties was remitting funds to mainland bank accounts via currency exchange companies for Creaton’s business operation. Between May 2016 and August 2018, the defendant had conducted over 430 remittances involving a total of $120 million on behalf of Creaton through a branch of Hui’s Brothers Foreign Currency Exchange Company Limited (Hui’s Brothers).

It is alleged that the defendant conspired together with a branch manager and a cashier of the above Hui’s Brothers branch for the defendant to accept bribes totalling over $400,000 for causing Creaton to use the remittance services at the branch.

ICAC enquiries revealed that the branch manager and cashier would arrange cash deposits, ranging from over $200 to over $20,000 each and totalling $400,0000, be made into the defendant’s bank account whenever he handle a remittance for Creaton. The matter was revealed when Hui’s Brothers checked the books.

Creaton did not allow its employees to accept advantages in relation to its business or affairs.

As the relevant corruption investigation is continuing, the ICAC does not rule out further law enforcement actions. Creaton and Hui’s Brothers have rendered full assistance to the ICAC during its investigation into the case.

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