Integrity Focus

One of the two directors of a trading company, who had absconded after being charged by the ICAC in 2015, was today (November 13) sentenced to 11 months’ imprisonment at the Eastern Magistrates’ Courts after admitting conspiracy to bribe a vice president of a bank over the acceptance of a standby letter of credit (L/C) in the amount of 500 million euros as collateral for granting its credit facility application.

Huang Wei, 54, director of Tianhe International Commerce (China) Holdings Limited (Tianhe), today pleaded guilty to one count of conspiracy to offer an advantage to an agent, contrary to section 9(2)(a) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance.

Huang today also pleaded guilty to an additional charge of failing to surrender to custody without reasonable cause, contrary to section 9L(1) of the Criminal Procedure Ordinance.

In sentencing, Principal Magistrate Miss Ivy Chui Yee-mei remarked that Hong Kong was a clean society which did not tolerate corruption. The present case involved a standby L/C in the amount of 500 million euros and a bribe of HK$10,000 per month. In view of the serious nature of the case, the defendant deserved an immediate custodial sentence.

The court heard that at the material time, Huang and Pan Shancheng were directors of Tianhe. They were both the authorised signatories of Tianhe’s bank account held with The Hongkong and Shanghai Banking Corporation Limited (HSBC).

In April 2015, Huang and Pan discussed the loan matter of Tianhe with a vice president of Commercial Banking Department of HSBC. The duo said Tianhe would receive a standby L/C in the amount of 500 million euros and requested HSBC to receive it as collateral for granting a credit facility to Tianhe.

HSBC accepted standby L/Cs to be used as collateral for granting credit facilities to clients, but the duo failed to provide the required documents for the bank’s assessment. In May 2015, the duo met with the VP of HSBC twice and requested the latter to assist in causing the bank to accept the standby L/C for Tianhe, adding that they would offer a monthly payment of HK$10,000 in return. The offer was turned down by the VP of HSBC.

Huang and Pan were subsequently arrested by the ICAC, and were charged with conspiracy to offer bribes in November 25, 2015. They pleaded not guilty to the charge and a pre-trial review was scheduled for January 8, 2016 at the Eastern Magistrates’ Courts. The duo failed to appear before court and warrants for their arrests were issued. After absconding for over seven years, Huang was arrested by ICAC officers upon arriving Hong Kong in late June 2023.

HSBC had rendered full assistance to the ICAC during its investigation into the case.

The prosecution was today represented by Senior Public Prosecutor Claudia Ng, assisted by ICAC officer Emily Cheung.