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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. 06
Nov 2025Duo implicated in $3m insurance commissions fraud involving Police Sergeant wanted by ICACThe ICAC earlier charged six individuals, including a Police Sergeant, for allegedly recruiting family members, friends and Police officers to pose as dummy insurance agents and policyholders to take out bogus insurance policies using false information to deceive insurers into releasing payments of commissions, bonuses and allowances totalling about $3 million. While the case was today (November 6) transferred to the District Court for plea in late November, warrants for the arrest of two others implicated in the scam were issued by a Magistrate upon the application by the ICAC.The two wanted persons are Ng Ho-lun, former regional director of Sun Life Hong Kong Limited (Sun Life HK) and former senior branch manager of China Taiping Life Insurance (Hong Kong) Company Limited (Taiping Life HK), and Kuzca Chik Sin-deon (formerly known as Pan Chik Ka-tung), former insurance agent of Sun Life HK, both aged 35. They face a total of 21 charges – 20 of fraud, contrary to section 16A of the Theft Ordinance; and one of conspiracy to make false instruments, contrary to sections 71 and 159A of the Crimes Ordinance.The insurance commissions fraud was revealed in an ICAC investigation stemming from corruption allegations implicating certain police officers. Upon completion of the investigation, the Commission sought legal advice from the Department of Justice, which advised charging eight individuals. Warrants for the arrest of Ng and Chik, who had already left Hong Kong, were issued by a Magistrate upon the application by the ICAC.The six defendants charged earlier are Lam Hin-ho, Police Sergeant, his elder brother Lam Chun-pong, his sister-in-law Yu Xiaodan, his friend Lau Chun-yee (formerly known as Lau Man-yee), Osbert Hui Yee, solicitor, and Sze Hong-chak, Police Constable, who posed as dummy downline insurance agents or dummy policyholders respectively.They face the 21 counts of fraud and conspiracy to make false instruments in the present case, which was brought to the Eastern Magistrates’ Courts for mention today. The case was transferred to the District Court for plea on November 27 and the bail for the six defendants was extended.At the material time, Lam Hin-ho was a Police Sergeant. He was not an insurance agent eligible to sell any insurance product. Ng was once a regional director of Sun Life HK and then a senior branch manager of Taiping Life HK.Enquiries revealed that Lam Hin-ho and Ng had allegedly recruited certain individuals, including Lam Hin-ho’s family members, friends and Police colleagues, to pose as dummy downline insurance agents and dummy policyholders to take out 20 insurance policies with Sun Life HK and Taiping Life HK and pay for the premiums.After underwriting the insurance policies, Sun Life HK and Taiping Life HK had respectively released payments, including commissions, bonuses and allowances, totalling about $1 million and about $2 million to the insurance agents concerned. In addition, Lam Hin-ho and Ng had allegedly arranged Lau to join Taiping Life HK to take part in the scam by using false academic qualifications documents.The 20 fraud charges allege that between December 2016 and June 2024, Lam Hin-ho and Ng, together with the six individuals implicated and other dummy downline agents and policyholders, made false representations to Sun Life HK and Taiping Life HK on different occasions, and with intent to defraud, induced the two insurers to underwrite the 20 insurance policies in the present case and release to the agents concerned payments, including relevant commissions, bonuses and allowances.It is alleged that they had falsely represented to Sun Life HK and Taiping Life HK that the insurance policy applications concerned were genuine; the relevant premiums or contributions were settled by the policyholders; and the dummy insurance agents had personally interviewed the applicants. The relevant premiums were paid by the defendants and their associates.The remaining charge alleges that between January and May 2021, Lam Hin-ho, Ng and Lau had conspired together with other persons to make false instruments, including academic qualifications, with the intention to induce Taiping Life HK to accept them as genuine.The Police, Sun Life HK and Taiping Life HK rendered assistance to the ICAC during its investigation into the case.The prosecution was today represented by ICAC officer Sebastian Louie.Wanted persons:Ng Ho-lun: www.icac.org.hk/en/rc/wanted/index_id_78.htmlKuzca Chik Sin-deon: www.icac.org.hk/en/rc/wanted/index_id_79.html 06
Nov 2025Senior executive of contractor of COVID-19 Community Testing Centres charged by ICAC for concealing conflict of interest in $120m contractA then senior executive of a contractor of COVID-19 Community Testing Centres (CTCs) was charged by the ICAC yesterday (November 5) for allegedly concealing his conflict of interest when contracting out the daily operation of CTCs to a company controlled by him and others, resulting in service payments totalling $120 million.Wong Lei-po, 56, former laboratory director of the Hong Kong Molecular Pathology Diagnostic Centre Limited (HKM), faces one count of fraud, contrary to section 16A (1) of the Theft Ordinance. He was released on ICAC bail, pending his appearance at the Eastern Magistrates’ Courts tomorrow (November 7) for mention.Amid the pandemic, HKM was one of the designated service providers engaged by the government to operate CTCs, comprising the daily operation and laboratory testing. HKM contracted out CTCs’ daily operation, including registration and crowd control, to Health Conscience Limited (HCL).At the material time, the defendant was the laboratory director of HKM overseeing its operation, including the selection of subcontractors. HKM required its staff members to avoid any conflict of interest situation and to declare any actual or potential conflict of interest in writing. The defendant had never declared to HKM his interest in HCL.It is alleged that between January and December 2022, the defendant had concealed from or failed to disclose to HKM his interest in HCL, and with intent to defraud, induced HKM to award the service agreement for daily operation of CTCs to HCL.The ICAC investigation arose from a corruption complaint. Enquiries revealed that HCL was set up and controlled by the defendant and others. HKM made service payments totalling $120 million to HCL for the service provided by HCL at the material time.HKM rendered full assistance to the ICAC during its investigation into the case.The ICAC advises business organisations to formulate clear guidelines and systems of declaring conflict of interest. Staff members of business organisations are reminded to avoid conflict of interest situations and to make timely declaration to their employers. Concealing any conflict of interest in relation to one’s official duties to benefit himself or his associates may constitute a breach of the Prevention of Bribery Ordinance or other criminal law. 05
Nov 2025CFA unanimously allows DoJ’s appeal and restores convictions of four defendants in listed company bonds placement conspiracy to defraud caseThe Court of Final Appeal (CFA) today (November 5) unanimously allowed the appeal by the Department of Justice (DoJ) and restored the convictions of four persons, including senior executives of a then listed company, who were charged by the ICAC with conspiracy to defraud over bonds placement of the listed company.Mak Kwong-yiu, 51, former executive director of Convoy Financial Services Holdings Limited (Convoy Financial Services); Chan Lai-yee, 53, former chief financial officer of Convoy Financial Services; Wong Shuk-on, 46, former manager of Convoy Financial Services; and Lee Yick-ming, 55, former general manager of Gransing Securities Co., Limited (Gransing), were found guilty of two counts of conspiracy to defraud, contrary to the Common Law, after trial at the District Court in September 2021. Mak and Lee were respectively jailed for seven months and five months, while Chan and Wong were respectively sentenced to five months’ and four months’ imprisonment, both suspended for 18 months.The four defendants’ appeal against their convictions was subsequently allowed by the Court of Appeal (CA) of the High Court. The DoJ then filed an appeal with the CFA against the ruling. The appeal was heard by Permanent Judges Mr Justice Roberto Ribeiro, Mr Justice Joseph Fok and Mr Justice Johnson Lam Man-hon, as well as Non-Permanent Judges Mr Justice Frank Stock and Sir William Young on September 3 and 4, 2025.In the judgment handed down by the CFA today, the five judges unanimously allowed the DoJ’s appeal against the CA’s ruling and restored the four defendants’ convictions. Mak and Lee will serve their jail terms.The CFA judges noted in the judgment that the court viewed the bonds placement agreements as a whole and construed the Rules Governing the Listing of Securities (the Listing Rules) on the The Stock Exchange of Hong Kong Limited (SEHK) purposively when assessing whether the transactions involved in the present case constituted connected transactions. The defendants interposed Gransing which served no commercial purpose in the chain of contracts to conceal the indirect interests in the bond placements agreements, breaching the fiduciary duty and constituting the conviction for conspiracy to defraud.The ICAC’s investigation commenced upon receiving complaints in 2017 which alleged breaches of the Prevention of Bribery Ordinance and the Securities and Futures Ordinance. An operation was jointly mounted by the ICAC and the Securities and Futures Commission (SFC) in December 2017.The court heard that at the material time, Convoy Financial Services, later renamed as Convoy Financial Holdings Limited, was listed (publicly listed Convoy) on the Main Board of the SEHK. Gransing and Convoy Investment Services Limited (CIS), which was not a subsidiary of publicly listed Convoy, both provided dealing in securities regulated activity, such as bonds placement.Mak and two other former executive directors of publicly listed Convoy were substantial shareholders of CIS. If a bonds placement agreement involved transactions between publicly listed Convoy and CIS, the transaction was a connected transaction governed by the Listing Rules.On four occasions between July 8, 2014 and January 21, 2015, publicly listed Convoy engaged Gransing as the placing agent of four bond placing exercises of the publicly listed Convoy. The defendants conspired together to arrange Gransing to further engage CIS as the sub-placing agent of the four bond placing exercises. CIS subsequently received around $49.6 million as sub-placing commission from publicly listed Convoy via Gransing and $1.2 million as bonus from Gransing under the sub-placing arrangements.In fact, Gransing did not place any bonds with any investor and CIS was the actual placing agent. The four defendants dishonestly concealed from publicly listed Convoy and its board of directors and shareholders as well as the SEHK that CIS was the actual placing agent of the four bonds. They had also used Gransing to conceal CIS’s involvement in the bonds placement, causing CIS to receive sub-placing commission. In addition, the concealment deprived shareholders of publicly listed Convoy of the right to vote against the sub-placing arrangements, and hindered the SEHK’s enforcement of the Listing Rules.The SFC, the SEHK and the then publicly listed Convoy rendered full assistance to the ICAC during its investigation.An ICAC spokesperson said that the ICAC will continue to maintain close cooperation with the SFC and other relevant regulatory bodies, working together to combat corruption and illegal activities in Hong Kong’s financial market. The ICAC is committed to upholding market integrity, fairness and a clean business environment, thereby reinforcing Hong Kong’s status as an international financial centre.The prosecution was represented by Senior Public Prosecutors Human Lam and Ivan Shiu, assisted by ICAC officer Matthew Pan. 28
Oct 2025Ex-senior manager of developer and five from subcontractors charged by ICAC guilty of 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 (October 28) convicted after trial at the Shatin Magistrates’ Courts of bribery offences. 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.The defendants were Constant So Shun-ching, 57, then senior construction manager of Henderson Land Development Company Limited (Henderson Land); Mak Hung-cho, 69, shareholder-cum-director of Lee Shing Masonry Engineering Limited (Lee Shing); 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).The six defendants were found guilty 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 (POBO) and section 159A of the Crimes Ordinance.Magistrate Mr Jeffrey Sze Cho-yiu adjourned the case to November 27 for mitigation and sentence. The defendants were remanded in the custody of the Correctional Services Department.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.The ICAC has been actively promoting anti-corruption messages in the construction industry, reminding practitioners to adhere strictly to the POBO and not to abuse one’s official capacity for accepting bribes, thus undermining the integrity of the tendering system and clean business environment.
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. 06
Nov 2025Duo implicated in $3m insurance commissions fraud involving Police Sergeant wanted by ICACThe ICAC earlier charged six individuals, including a Police Sergeant, for allegedly recruiting family members, friends and Police officers to pose as dummy insurance agents and policyholders to take out bogus insurance policies using false information to deceive insurers into releasing payments of commissions, bonuses and allowances totalling about $3 million. While the case was today (November 6) transferred to the District Court for plea in late November, warrants for the arrest of two others implicated in the scam were issued by a Magistrate upon the application by the ICAC.The two wanted persons are Ng Ho-lun, former regional director of Sun Life Hong Kong Limited (Sun Life HK) and former senior branch manager of China Taiping Life Insurance (Hong Kong) Company Limited (Taiping Life HK), and Kuzca Chik Sin-deon (formerly known as Pan Chik Ka-tung), former insurance agent of Sun Life HK, both aged 35. They face a total of 21 charges – 20 of fraud, contrary to section 16A of the Theft Ordinance; and one of conspiracy to make false instruments, contrary to sections 71 and 159A of the Crimes Ordinance.The insurance commissions fraud was revealed in an ICAC investigation stemming from corruption allegations implicating certain police officers. Upon completion of the investigation, the Commission sought legal advice from the Department of Justice, which advised charging eight individuals. Warrants for the arrest of Ng and Chik, who had already left Hong Kong, were issued by a Magistrate upon the application by the ICAC.The six defendants charged earlier are Lam Hin-ho, Police Sergeant, his elder brother Lam Chun-pong, his sister-in-law Yu Xiaodan, his friend Lau Chun-yee (formerly known as Lau Man-yee), Osbert Hui Yee, solicitor, and Sze Hong-chak, Police Constable, who posed as dummy downline insurance agents or dummy policyholders respectively.They face the 21 counts of fraud and conspiracy to make false instruments in the present case, which was brought to the Eastern Magistrates’ Courts for mention today. The case was transferred to the District Court for plea on November 27 and the bail for the six defendants was extended.At the material time, Lam Hin-ho was a Police Sergeant. He was not an insurance agent eligible to sell any insurance product. Ng was once a regional director of Sun Life HK and then a senior branch manager of Taiping Life HK.Enquiries revealed that Lam Hin-ho and Ng had allegedly recruited certain individuals, including Lam Hin-ho’s family members, friends and Police colleagues, to pose as dummy downline insurance agents and dummy policyholders to take out 20 insurance policies with Sun Life HK and Taiping Life HK and pay for the premiums.After underwriting the insurance policies, Sun Life HK and Taiping Life HK had respectively released payments, including commissions, bonuses and allowances, totalling about $1 million and about $2 million to the insurance agents concerned. In addition, Lam Hin-ho and Ng had allegedly arranged Lau to join Taiping Life HK to take part in the scam by using false academic qualifications documents.The 20 fraud charges allege that between December 2016 and June 2024, Lam Hin-ho and Ng, together with the six individuals implicated and other dummy downline agents and policyholders, made false representations to Sun Life HK and Taiping Life HK on different occasions, and with intent to defraud, induced the two insurers to underwrite the 20 insurance policies in the present case and release to the agents concerned payments, including relevant commissions, bonuses and allowances.It is alleged that they had falsely represented to Sun Life HK and Taiping Life HK that the insurance policy applications concerned were genuine; the relevant premiums or contributions were settled by the policyholders; and the dummy insurance agents had personally interviewed the applicants. The relevant premiums were paid by the defendants and their associates.The remaining charge alleges that between January and May 2021, Lam Hin-ho, Ng and Lau had conspired together with other persons to make false instruments, including academic qualifications, with the intention to induce Taiping Life HK to accept them as genuine.The Police, Sun Life HK and Taiping Life HK rendered assistance to the ICAC during its investigation into the case.The prosecution was today represented by ICAC officer Sebastian Louie.Wanted persons:Ng Ho-lun: www.icac.org.hk/en/rc/wanted/index_id_78.htmlKuzca Chik Sin-deon: www.icac.org.hk/en/rc/wanted/index_id_79.html 06
Nov 2025Senior executive of contractor of COVID-19 Community Testing Centres charged by ICAC for concealing conflict of interest in $120m contractA then senior executive of a contractor of COVID-19 Community Testing Centres (CTCs) was charged by the ICAC yesterday (November 5) for allegedly concealing his conflict of interest when contracting out the daily operation of CTCs to a company controlled by him and others, resulting in service payments totalling $120 million.Wong Lei-po, 56, former laboratory director of the Hong Kong Molecular Pathology Diagnostic Centre Limited (HKM), faces one count of fraud, contrary to section 16A (1) of the Theft Ordinance. He was released on ICAC bail, pending his appearance at the Eastern Magistrates’ Courts tomorrow (November 7) for mention.Amid the pandemic, HKM was one of the designated service providers engaged by the government to operate CTCs, comprising the daily operation and laboratory testing. HKM contracted out CTCs’ daily operation, including registration and crowd control, to Health Conscience Limited (HCL).At the material time, the defendant was the laboratory director of HKM overseeing its operation, including the selection of subcontractors. HKM required its staff members to avoid any conflict of interest situation and to declare any actual or potential conflict of interest in writing. The defendant had never declared to HKM his interest in HCL.It is alleged that between January and December 2022, the defendant had concealed from or failed to disclose to HKM his interest in HCL, and with intent to defraud, induced HKM to award the service agreement for daily operation of CTCs to HCL.The ICAC investigation arose from a corruption complaint. Enquiries revealed that HCL was set up and controlled by the defendant and others. HKM made service payments totalling $120 million to HCL for the service provided by HCL at the material time.HKM rendered full assistance to the ICAC during its investigation into the case.The ICAC advises business organisations to formulate clear guidelines and systems of declaring conflict of interest. Staff members of business organisations are reminded to avoid conflict of interest situations and to make timely declaration to their employers. Concealing any conflict of interest in relation to one’s official duties to benefit himself or his associates may constitute a breach of the Prevention of Bribery Ordinance or other criminal law. 05
Nov 2025CFA unanimously allows DoJ’s appeal and restores convictions of four defendants in listed company bonds placement conspiracy to defraud caseThe Court of Final Appeal (CFA) today (November 5) unanimously allowed the appeal by the Department of Justice (DoJ) and restored the convictions of four persons, including senior executives of a then listed company, who were charged by the ICAC with conspiracy to defraud over bonds placement of the listed company.Mak Kwong-yiu, 51, former executive director of Convoy Financial Services Holdings Limited (Convoy Financial Services); Chan Lai-yee, 53, former chief financial officer of Convoy Financial Services; Wong Shuk-on, 46, former manager of Convoy Financial Services; and Lee Yick-ming, 55, former general manager of Gransing Securities Co., Limited (Gransing), were found guilty of two counts of conspiracy to defraud, contrary to the Common Law, after trial at the District Court in September 2021. Mak and Lee were respectively jailed for seven months and five months, while Chan and Wong were respectively sentenced to five months’ and four months’ imprisonment, both suspended for 18 months.The four defendants’ appeal against their convictions was subsequently allowed by the Court of Appeal (CA) of the High Court. The DoJ then filed an appeal with the CFA against the ruling. The appeal was heard by Permanent Judges Mr Justice Roberto Ribeiro, Mr Justice Joseph Fok and Mr Justice Johnson Lam Man-hon, as well as Non-Permanent Judges Mr Justice Frank Stock and Sir William Young on September 3 and 4, 2025.In the judgment handed down by the CFA today, the five judges unanimously allowed the DoJ’s appeal against the CA’s ruling and restored the four defendants’ convictions. Mak and Lee will serve their jail terms.The CFA judges noted in the judgment that the court viewed the bonds placement agreements as a whole and construed the Rules Governing the Listing of Securities (the Listing Rules) on the The Stock Exchange of Hong Kong Limited (SEHK) purposively when assessing whether the transactions involved in the present case constituted connected transactions. The defendants interposed Gransing which served no commercial purpose in the chain of contracts to conceal the indirect interests in the bond placements agreements, breaching the fiduciary duty and constituting the conviction for conspiracy to defraud.The ICAC’s investigation commenced upon receiving complaints in 2017 which alleged breaches of the Prevention of Bribery Ordinance and the Securities and Futures Ordinance. An operation was jointly mounted by the ICAC and the Securities and Futures Commission (SFC) in December 2017.The court heard that at the material time, Convoy Financial Services, later renamed as Convoy Financial Holdings Limited, was listed (publicly listed Convoy) on the Main Board of the SEHK. Gransing and Convoy Investment Services Limited (CIS), which was not a subsidiary of publicly listed Convoy, both provided dealing in securities regulated activity, such as bonds placement.Mak and two other former executive directors of publicly listed Convoy were substantial shareholders of CIS. If a bonds placement agreement involved transactions between publicly listed Convoy and CIS, the transaction was a connected transaction governed by the Listing Rules.On four occasions between July 8, 2014 and January 21, 2015, publicly listed Convoy engaged Gransing as the placing agent of four bond placing exercises of the publicly listed Convoy. The defendants conspired together to arrange Gransing to further engage CIS as the sub-placing agent of the four bond placing exercises. CIS subsequently received around $49.6 million as sub-placing commission from publicly listed Convoy via Gransing and $1.2 million as bonus from Gransing under the sub-placing arrangements.In fact, Gransing did not place any bonds with any investor and CIS was the actual placing agent. The four defendants dishonestly concealed from publicly listed Convoy and its board of directors and shareholders as well as the SEHK that CIS was the actual placing agent of the four bonds. They had also used Gransing to conceal CIS’s involvement in the bonds placement, causing CIS to receive sub-placing commission. In addition, the concealment deprived shareholders of publicly listed Convoy of the right to vote against the sub-placing arrangements, and hindered the SEHK’s enforcement of the Listing Rules.The SFC, the SEHK and the then publicly listed Convoy rendered full assistance to the ICAC during its investigation.An ICAC spokesperson said that the ICAC will continue to maintain close cooperation with the SFC and other relevant regulatory bodies, working together to combat corruption and illegal activities in Hong Kong’s financial market. The ICAC is committed to upholding market integrity, fairness and a clean business environment, thereby reinforcing Hong Kong’s status as an international financial centre.The prosecution was represented by Senior Public Prosecutors Human Lam and Ivan Shiu, assisted by ICAC officer Matthew Pan. 28
Oct 2025Ex-senior manager of developer and five from subcontractors charged by ICAC guilty of 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 (October 28) convicted after trial at the Shatin Magistrates’ Courts of bribery offences. 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.The defendants were Constant So Shun-ching, 57, then senior construction manager of Henderson Land Development Company Limited (Henderson Land); Mak Hung-cho, 69, shareholder-cum-director of Lee Shing Masonry Engineering Limited (Lee Shing); 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).The six defendants were found guilty 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 (POBO) and section 159A of the Crimes Ordinance.Magistrate Mr Jeffrey Sze Cho-yiu adjourned the case to November 27 for mitigation and sentence. The defendants were remanded in the custody of the Correctional Services Department.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.The ICAC has been actively promoting anti-corruption messages in the construction industry, reminding practitioners to adhere strictly to the POBO and not to abuse one’s official capacity for accepting bribes, thus undermining the integrity of the tendering system and clean business environment.