Integrity Focus

A former branch manager of a currency exchange company, charged by the ICAC, was today (June 2) sentenced to 15 months’ imprisonment at the District Court for stealing $940,000 from the company and using a false transaction record to cover up her misappropriation. The illegal activities were revealed in the course of a corruption investigation.

Yuen On-ki, 31, former branch manager of Hui’s Brothers Foreign Currency Exchange Company Limited (Hui’s Brothers), earlier pleaded guilty to two charges – one of theft, contrary to Section 9 of the Theft Ordinance; and one of conspiracy for agents to use document with intent to deceive their principal, contrary to Section 9(3) of the Prevention of Bribery Ordinance and Section 159A of the Crimes Ordinance.

In sentencing, Deputy District Judge Mr Bernard Chung said the defendant committed offences which were serious in nature and breached the trust placed in her. A 15 months’ imprisonment was imposed on the defendant, having considered her guilty plea, the full repayment made to her former employer, etc.

The court heard that at the material time, the defendant was the branch manager of the Tai Wai branch of Hui’s Brothers. The branch operated under the business name Sam Hing Hong Foreign Currency Exchange Limited to provide currency exchange and remittance services. The defendant was responsible for its daily operation, including handling remittance applications of its customers.

Hui’s Brothers did not provide any loan services and staff members were not allowed to process remittance applications on credit for its customers. Each branch was required to report to Hui’s Brothers its daily financial position such as the cash balance kept by the branch.

Between September 2019 and February 2020, the defendant took out cash totalling $940,000 from the branch for lending several loans to a customer without the permission of Hui’s Brothers.

In late February, the defendant learned that the branch would cease operation and an internal audit would be conducted at the branch. Then she instructed an accounting clerk to submit a transaction record to Hui’s Brothers purporting that $940,000 had been transferred from the branch to another branch of Hui’s Brothers.

The court heard that the defendant did not make any cash transfer and she used abovementioned the transaction record to mislead Hui’s Brother and to cover up a shortfall of $940,000 at the branch.

Hui’s Brothers had rendered full assistance to the ICAC during its investigation into the case.

The prosecution was today represented by Acting Senior Public Prosecutor Mr Jason Lau, assisted by ICAC officer Louis Chung.