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Jun 2024Immigration consultant conspiring with client over HK$10m investment entrant fraud charged by ICACA former proprietor of an immigration consultancy was charged by the ICAC today (June 25) for allegedly conspiring with others to deceive the Immigration Department (ImmD) into granting the investment entrant application of a client by assisting the latter to make a false representation about his investment of HK$10 million in Hong Kong.Tam Chi-ming, 50, former sole director-cum-shareholder of Wealth Concepts Consultancy (Greater China) Limited (Wealth Concepts), faces one count of conspiracy to defraud, contrary to the Common Law. He was released on ICAC bail, pending his appearance at the Kowloon City Magistrates’ Courts on Thursday (June 27) for mention.In 2003, the Hong Kong Government implemented the Capital Investment Entrant Scheme (the Scheme) to facilitate the entry for residence by capital investment entrants. The ImmD was responsible for processing the relevant applications. An applicant to be granted a permission to stay in Hong Kong for two years must have net assets of a market value not less than HK$10 million throughout the two years preceding the application; and remain invested not less than HK$10 million in specific permissible investment asset classes within six months after the granting of approval-in-principle by the ImmD (the remain-invested requirement). Applicants may apply for permanent residency of Hong Kong or unconditional stay in Hong Kong respectively upon continuous ordinary residence of or investment in Hong Kong for not less than seven years.Applicants were prohibited from borrowing money for holding specified financial assets. In accordance with the remain-invested requirement, applicants were also not allowed to assign any interest in favour of others in the financial assets concerned. The Scheme was suspended in 2015.At the material time, the defendant was the sole director-cum-shareholder of Wealth Concepts, which provided consultancy services to individuals for immigration to Hong Kong. In 2015, an applicant of the Scheme engaged Wealth Concepts to handle his application.Between May 2018 and September 2023, the defendant allegedly conspired together with the applicant and others to defraud the ImmD, inducing the ImmD to grant the applicant’s application for immigration to Hong Kong and the subsequent extensions of stay in Hong Kong.It is alleged that they dishonestly submitted a false application purporting to show that the applicant had met the investment requirement and falsely represented that the applicant had invested a total sum of HK$10 million in the bonds issued by a listed company in Hong Kong and remained the absolute beneficial owner of the investment.The ICAC investigation arose from a corruption complaint. Enquiries revealed that the applicant did not have sufficient funds for meeting the relevant requirements on investment.Had the ImmD known that the applicant had made a falsely declaration on his investment, no approval under the Scheme, as well as the subsequent extensions of stay in Hong Kong, would have been granted to the applicant and his dependants.The ICAC corruption inquiries are ongoing.The ImmD has rendered full assistance to the ICAC during its investigation into the case.The ICAC has kept reviewing various investment entrant and talent admission schemes with the relevant government departments so as to strengthen regulating the schemes to stamp out malpractices. 20
Jun 2024Ex-manager of telecom company charged by ICAC gets 40 months’ jail for HK$16m fraud by concealing mother’s role in supplierA former manager of a telecommunications company, charged by the ICAC, was today (June 20) sentenced to 40 months’ imprisonment at the Court of First Instance of the High Court for deceiving the company into issuing purchase orders worth totalling over HK$30 million and making service payments totalling over HK$16 million to a supplier owned by his mother by concealing his conflict of interest.Cheung Cheuk-man, 46, former manager of PCCW Services Limited (PCCW Services), a subsidiary of PCCW Limited (PCCW), yesterday (June 19) pleaded guilty to one count of fraud, contrary to section 16A(1) of the Theft Ordinance.In sentencing, Ms Justice Esther Toh Lye-ping reprimanded the defendant for committing a premeditated crime which constituted a breach of trust. She took a starting point of five to six years’ imprisonment and reduced the jail term to 40 months, having considered the defendant’s guilty plea, full restitution of the service payments involved in the present case to his former employer and other mitigating factors.The court heard that in November 2014, the defendant was employed by PCCW Services to work as a manager of the network service team of PCCW Solutions Limited (PCCW Solutions), another subsidiary of PCCW, which provided a wide range of information technology and network solutions to its clients. PCCW’s policy stipulated that its employees and subsidiaries must make declarations where potential conflicts of interest arose.Upon the defendant’s recommendation, Go Go Wifi Limited (GGWL) was included in the list of approved suppliers of PCCW and its subsidiaries since January 2016. Between January 2016 and July 2017, the defendant procured PCCW Solutions to issue 29 purchase orders in the sum of over HK$30 million to GGWL, which subsequently received payments of about HK$8.7 million and about US$990,000 from PCCW Solutions.The ICAC investigation arose from a corruption complaint. Enquiries revealed that the defendant’s mother had become the sole director cum shareholder of GGWL since August 2014, but he had never disclosed to his employer his mother’s interests in GGWL.The defendant was responsible for obtaining quotations and confirming receipt of services before release of payments to GGWL for the 29 purchase orders. ICAC enquiries revealed that the defendant had used false quotations purportedly issued by other companies to procure awarding the contracts to GGWL by making it the lowest bidder. On various occasions, the defendant had confirmed to PCCW Solutions in writing that he had no conflict of interest in the purchases concerned.It was also revealed in the ICAC investigation that GGWL had never provided any service in relation to the 29 purchase orders. The services concerned were either provided by other service suppliers or carried out internally by PCCW Solutions.The prosecution earlier withdrew a charge of “money-laundering” against the defendant’s mother, Lee Po-mei, 67.PCCW and its subsidiaries had rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by Senior Public Prosecutor Audrey Parwani, assisted by ICAC officer Wilson Lam.The ICAC encourages public and private organisations to establish clear guidelines and systems of declaration on conflict of interest. Staff should avoid conflict of interest and make declarations in strict adherence to internal guidelines. Concealing any conflict of interest in relation to one’s official duties to benefit himself or his associates may contravene the criminal law, such as the Prevention of Bribery Ordinance if offering or accepting of bribes is involved. 19
Jun 2024Eight months’ jail for then assistant manager of telecom company charged by ICAC for concealing conflict of interest over fibre installation service ordersA then assistant manager of a telecommunications company, charged by the ICAC, was today (June 19) sentenced to eight months’ imprisonment at the West Kowloon Magistrates’ Courts after being convicted of obtaining fibre installation service orders worth totalling $180,000 by concealing his interest in a contractor. The defendant was also found guilty of perversion for making false representation about his declaration made to the company during the Commission’s investigation.Chan Chun-kin, 44, former assistant manager of Technical & Service Support Department of i-CABLE Communications Limited (i-CABLE), was found guilty of three counts of obtaining pecuniary advantage by deception, contrary to section 18(1) of the Theft Ordinance; and one count of doing an act or a series of acts tending and intended to pervert the course of public justice, contrary to the Common Law.In sentencing, Magistrate Mr Jason Wan Siu-ming reprimanded the defendant for committing a premeditated crime repeatedly, which undermined the level-playing field of Hong Kong’s business sector and deprived other competitors of their opportunities to obtain contracts. A custodial sentence was imposed on the defendant in view of the serious nature of the offences.At the material time, the defendant was an assistant manager of Technical & Service Support Department of i-CABLE. He was responsible for monitoring and evaluating the service quality of contractors engaged by the department to conduct networking installation and maintenance works at customers’ premises and to make recommendation on the engagement of contractors.The policies of i-CABLE stipulated that all employees should avoid actual or potential conflict of interest and that they should fill in and submit declaration forms to declare their conflict of interest in writing to the management.The court heard that in May 2022, Lokkin Engineering Limited (Lokkin) was engaged by i-CABLE as a contractor for fibre installation works upon the defendant’s recommendation. Lokkin was subsequently awarded three service orders of fibre installation for three residential estates worth totalling about $180,000 between May and August 2022.The ICAC investigation arose from a corruption complaint. Enquiries revealed that the defendant had instructed a friend to set up Lokkin in 2021 with a view to taking up networking installation and maintenance works of i-CABLE, and to open bank accounts for Lokkin.On the i-CABLE supplier registration form prepared by the defendant, it was declared that the friend was the sole director-cum-shareholder of Lokkin. It was concealed that the defendant was the beneficial owner and operator of Lokkin.The court heard that between mid-September and early October 2022, after the defendant had been arrested by the ICAC, he intended to pervert the course of public justice by making a false representation to i-CABLE that he had submitted a declaration form to the company in late 2021 to declare his role in Lokkin.i-CABLE had rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by prosecuting counsel Mark Wei, assisted by ICAC officers Chris Lai and William Wong.An ICAC spokesperson notes that perverting the course of public justice is a serious offence. An offender is liable on conviction to an imprisonment for any term and a fine of any amount. Should such illegal acts be found in ICAC cases, the Commission would not tolerate them and would follow up on them in a serious manner. 19
Jun 2024Ex-manager of telecom company charged by ICAC admits at High Court HK$16m fraud by concealing mother’s role in supplierA former manager of a telecommunications company, charged by the ICAC, today (June 19) admitted at the Court of First Instance of the High Court that he had deceived the company into issuing purchase orders worth totalling over HK$30 million and making service payments totalling over HK$16 million to a supplier owned by his mother by concealing his conflict of interest.Cheung Cheuk-man, 46, former manager of PCCW Services Limited (PCCW Services), a subsidiary of PCCW Limited (PCCW), today pleaded guilty to one count of fraud, contrary to section 16A(1) of the Theft Ordinance. Ms Justice Esther Toh Lye-ping adjourned the case to tomorrow (June 20) for mitigation and sentence.The court heard that in November 2014, the defendant was employed by PCCW Services to work as a manager of the network service team of PCCW Solutions Limited (PCCW Solutions), another subsidiary of PCCW, which provided a wide range of information technology and network solutions to its clients. PCCW’s policy stipulated that its employees and subsidiaries must make declarations where potential conflicts of interest arose.Upon the defendant’s recommendation, Go Go Wifi Limited (GGWL) was included in the list of approved suppliers of PCCW and its subsidiaries since January 2016. Between January 2016 and July 2017, the defendant procured PCCW Solutions to issue 29 purchase orders in the sum of over HK$30 million to GGWL, which subsequently received payments of about HK$8.7 million and about US$990,000 from PCCW Solutions.The ICAC investigation arose from a corruption complaint. Enquiries revealed that the defendant’s mother had become the sole director cum shareholder of GGWL since August 2014, but he had never disclosed to his employer his mother’s interests in GGWL.The defendant was responsible for obtaining quotations and confirming receipt of services before release of payments to GGWL for the 29 purchase orders. ICAC enquiries revealed that the defendant had used false quotations purportedly issued by other companies to procure awarding the contracts to GGWL by making it the lowest bidder. On various occasions, the defendant had confirmed to PCCW Solutions in writing that he had no conflict of interest in the purchases concerned.It was also revealed in the ICAC investigation that GGWL had never provided any service in relation to the 29 purchase orders. The services concerned were either provided by other service suppliers or carried out internally by PCCW Solutions.The prosecution earlier withdrew a charge of “money-laundering” against the defendant’s mother, Lee Po-mei, 67.PCCW and its subsidiaries had rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by Senior Public Prosecutor Audrey Parwani, assisted by ICAC officer Wilson Lam.The ICAC encourages public and private organisations to establish clear guidelines and systems of declaration on conflict of interest. Staff should avoid conflict of interest and make declarations in strict adherence to internal guidelines. Concealing any conflict of interest in relation to one’s official duties to benefit himself or his associates may contravene the criminal law, such as the Prevention of Bribery Ordinance if offering or accepting of bribes is involved. 18
Jun 2024Businessman charged by ICAC for laundering RMB 400mA businessman was charged by the ICAC yesterday (June 17) for allegedly laundering crime proceeds totalling over RMB 400 million through a bank account in Hong Kong.Tan Kim Chwee, 60, faces one count of dealing with property known or believed to represent proceeds of indictable offence, contrary to section 25(1) of the Organized and Serious Crimes Ordinance. He was released on ICAC bail, pending his appearance at the Eastern Magistrates’ Courts tomorrow (June 19) for mention.The charge alleges that between February and September 2020, the defendant dealt with two sums totalling over RMB 400 million in his bank account held with a bank in Hong Kong, knowing or having reasonable grounds to believe that the sums in whole or in part directly or indirectly represented any person’s proceeds of an indictable offence.The ICAC investigation arose from a corruption complaint. Enquiries revealed the defendant’s alleged involvement in illegal activities by assisting another man to hold the shares of a company between 2013 and 2020, and using the defendant’s bank account in Hong Kong to receive sums totalling over RMB 400 million between February and September 2020 after the shares were sold.The relevant investigation is continuing, the ICAC does not rule out laying more charges against the defendant.The bank concerned has rendered full assistance to the ICAC during its investigation into the case.
Jun 2024Immigration consultant conspiring with client over HK$10m investment entrant fraud charged by ICACA former proprietor of an immigration consultancy was charged by the ICAC today (June 25) for allegedly conspiring with others to deceive the Immigration Department (ImmD) into granting the investment entrant application of a client by assisting the latter to make a false representation about his investment of HK$10 million in Hong Kong.Tam Chi-ming, 50, former sole director-cum-shareholder of Wealth Concepts Consultancy (Greater China) Limited (Wealth Concepts), faces one count of conspiracy to defraud, contrary to the Common Law. He was released on ICAC bail, pending his appearance at the Kowloon City Magistrates’ Courts on Thursday (June 27) for mention.In 2003, the Hong Kong Government implemented the Capital Investment Entrant Scheme (the Scheme) to facilitate the entry for residence by capital investment entrants. The ImmD was responsible for processing the relevant applications. An applicant to be granted a permission to stay in Hong Kong for two years must have net assets of a market value not less than HK$10 million throughout the two years preceding the application; and remain invested not less than HK$10 million in specific permissible investment asset classes within six months after the granting of approval-in-principle by the ImmD (the remain-invested requirement). Applicants may apply for permanent residency of Hong Kong or unconditional stay in Hong Kong respectively upon continuous ordinary residence of or investment in Hong Kong for not less than seven years.Applicants were prohibited from borrowing money for holding specified financial assets. In accordance with the remain-invested requirement, applicants were also not allowed to assign any interest in favour of others in the financial assets concerned. The Scheme was suspended in 2015.At the material time, the defendant was the sole director-cum-shareholder of Wealth Concepts, which provided consultancy services to individuals for immigration to Hong Kong. In 2015, an applicant of the Scheme engaged Wealth Concepts to handle his application.Between May 2018 and September 2023, the defendant allegedly conspired together with the applicant and others to defraud the ImmD, inducing the ImmD to grant the applicant’s application for immigration to Hong Kong and the subsequent extensions of stay in Hong Kong.It is alleged that they dishonestly submitted a false application purporting to show that the applicant had met the investment requirement and falsely represented that the applicant had invested a total sum of HK$10 million in the bonds issued by a listed company in Hong Kong and remained the absolute beneficial owner of the investment.The ICAC investigation arose from a corruption complaint. Enquiries revealed that the applicant did not have sufficient funds for meeting the relevant requirements on investment.Had the ImmD known that the applicant had made a falsely declaration on his investment, no approval under the Scheme, as well as the subsequent extensions of stay in Hong Kong, would have been granted to the applicant and his dependants.The ICAC corruption inquiries are ongoing.The ImmD has rendered full assistance to the ICAC during its investigation into the case.The ICAC has kept reviewing various investment entrant and talent admission schemes with the relevant government departments so as to strengthen regulating the schemes to stamp out malpractices. 20
Jun 2024Ex-manager of telecom company charged by ICAC gets 40 months’ jail for HK$16m fraud by concealing mother’s role in supplierA former manager of a telecommunications company, charged by the ICAC, was today (June 20) sentenced to 40 months’ imprisonment at the Court of First Instance of the High Court for deceiving the company into issuing purchase orders worth totalling over HK$30 million and making service payments totalling over HK$16 million to a supplier owned by his mother by concealing his conflict of interest.Cheung Cheuk-man, 46, former manager of PCCW Services Limited (PCCW Services), a subsidiary of PCCW Limited (PCCW), yesterday (June 19) pleaded guilty to one count of fraud, contrary to section 16A(1) of the Theft Ordinance.In sentencing, Ms Justice Esther Toh Lye-ping reprimanded the defendant for committing a premeditated crime which constituted a breach of trust. She took a starting point of five to six years’ imprisonment and reduced the jail term to 40 months, having considered the defendant’s guilty plea, full restitution of the service payments involved in the present case to his former employer and other mitigating factors.The court heard that in November 2014, the defendant was employed by PCCW Services to work as a manager of the network service team of PCCW Solutions Limited (PCCW Solutions), another subsidiary of PCCW, which provided a wide range of information technology and network solutions to its clients. PCCW’s policy stipulated that its employees and subsidiaries must make declarations where potential conflicts of interest arose.Upon the defendant’s recommendation, Go Go Wifi Limited (GGWL) was included in the list of approved suppliers of PCCW and its subsidiaries since January 2016. Between January 2016 and July 2017, the defendant procured PCCW Solutions to issue 29 purchase orders in the sum of over HK$30 million to GGWL, which subsequently received payments of about HK$8.7 million and about US$990,000 from PCCW Solutions.The ICAC investigation arose from a corruption complaint. Enquiries revealed that the defendant’s mother had become the sole director cum shareholder of GGWL since August 2014, but he had never disclosed to his employer his mother’s interests in GGWL.The defendant was responsible for obtaining quotations and confirming receipt of services before release of payments to GGWL for the 29 purchase orders. ICAC enquiries revealed that the defendant had used false quotations purportedly issued by other companies to procure awarding the contracts to GGWL by making it the lowest bidder. On various occasions, the defendant had confirmed to PCCW Solutions in writing that he had no conflict of interest in the purchases concerned.It was also revealed in the ICAC investigation that GGWL had never provided any service in relation to the 29 purchase orders. The services concerned were either provided by other service suppliers or carried out internally by PCCW Solutions.The prosecution earlier withdrew a charge of “money-laundering” against the defendant’s mother, Lee Po-mei, 67.PCCW and its subsidiaries had rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by Senior Public Prosecutor Audrey Parwani, assisted by ICAC officer Wilson Lam.The ICAC encourages public and private organisations to establish clear guidelines and systems of declaration on conflict of interest. Staff should avoid conflict of interest and make declarations in strict adherence to internal guidelines. Concealing any conflict of interest in relation to one’s official duties to benefit himself or his associates may contravene the criminal law, such as the Prevention of Bribery Ordinance if offering or accepting of bribes is involved. 19
Jun 2024Eight months’ jail for then assistant manager of telecom company charged by ICAC for concealing conflict of interest over fibre installation service ordersA then assistant manager of a telecommunications company, charged by the ICAC, was today (June 19) sentenced to eight months’ imprisonment at the West Kowloon Magistrates’ Courts after being convicted of obtaining fibre installation service orders worth totalling $180,000 by concealing his interest in a contractor. The defendant was also found guilty of perversion for making false representation about his declaration made to the company during the Commission’s investigation.Chan Chun-kin, 44, former assistant manager of Technical & Service Support Department of i-CABLE Communications Limited (i-CABLE), was found guilty of three counts of obtaining pecuniary advantage by deception, contrary to section 18(1) of the Theft Ordinance; and one count of doing an act or a series of acts tending and intended to pervert the course of public justice, contrary to the Common Law.In sentencing, Magistrate Mr Jason Wan Siu-ming reprimanded the defendant for committing a premeditated crime repeatedly, which undermined the level-playing field of Hong Kong’s business sector and deprived other competitors of their opportunities to obtain contracts. A custodial sentence was imposed on the defendant in view of the serious nature of the offences.At the material time, the defendant was an assistant manager of Technical & Service Support Department of i-CABLE. He was responsible for monitoring and evaluating the service quality of contractors engaged by the department to conduct networking installation and maintenance works at customers’ premises and to make recommendation on the engagement of contractors.The policies of i-CABLE stipulated that all employees should avoid actual or potential conflict of interest and that they should fill in and submit declaration forms to declare their conflict of interest in writing to the management.The court heard that in May 2022, Lokkin Engineering Limited (Lokkin) was engaged by i-CABLE as a contractor for fibre installation works upon the defendant’s recommendation. Lokkin was subsequently awarded three service orders of fibre installation for three residential estates worth totalling about $180,000 between May and August 2022.The ICAC investigation arose from a corruption complaint. Enquiries revealed that the defendant had instructed a friend to set up Lokkin in 2021 with a view to taking up networking installation and maintenance works of i-CABLE, and to open bank accounts for Lokkin.On the i-CABLE supplier registration form prepared by the defendant, it was declared that the friend was the sole director-cum-shareholder of Lokkin. It was concealed that the defendant was the beneficial owner and operator of Lokkin.The court heard that between mid-September and early October 2022, after the defendant had been arrested by the ICAC, he intended to pervert the course of public justice by making a false representation to i-CABLE that he had submitted a declaration form to the company in late 2021 to declare his role in Lokkin.i-CABLE had rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by prosecuting counsel Mark Wei, assisted by ICAC officers Chris Lai and William Wong.An ICAC spokesperson notes that perverting the course of public justice is a serious offence. An offender is liable on conviction to an imprisonment for any term and a fine of any amount. Should such illegal acts be found in ICAC cases, the Commission would not tolerate them and would follow up on them in a serious manner. 19
Jun 2024Ex-manager of telecom company charged by ICAC admits at High Court HK$16m fraud by concealing mother’s role in supplierA former manager of a telecommunications company, charged by the ICAC, today (June 19) admitted at the Court of First Instance of the High Court that he had deceived the company into issuing purchase orders worth totalling over HK$30 million and making service payments totalling over HK$16 million to a supplier owned by his mother by concealing his conflict of interest.Cheung Cheuk-man, 46, former manager of PCCW Services Limited (PCCW Services), a subsidiary of PCCW Limited (PCCW), today pleaded guilty to one count of fraud, contrary to section 16A(1) of the Theft Ordinance. Ms Justice Esther Toh Lye-ping adjourned the case to tomorrow (June 20) for mitigation and sentence.The court heard that in November 2014, the defendant was employed by PCCW Services to work as a manager of the network service team of PCCW Solutions Limited (PCCW Solutions), another subsidiary of PCCW, which provided a wide range of information technology and network solutions to its clients. PCCW’s policy stipulated that its employees and subsidiaries must make declarations where potential conflicts of interest arose.Upon the defendant’s recommendation, Go Go Wifi Limited (GGWL) was included in the list of approved suppliers of PCCW and its subsidiaries since January 2016. Between January 2016 and July 2017, the defendant procured PCCW Solutions to issue 29 purchase orders in the sum of over HK$30 million to GGWL, which subsequently received payments of about HK$8.7 million and about US$990,000 from PCCW Solutions.The ICAC investigation arose from a corruption complaint. Enquiries revealed that the defendant’s mother had become the sole director cum shareholder of GGWL since August 2014, but he had never disclosed to his employer his mother’s interests in GGWL.The defendant was responsible for obtaining quotations and confirming receipt of services before release of payments to GGWL for the 29 purchase orders. ICAC enquiries revealed that the defendant had used false quotations purportedly issued by other companies to procure awarding the contracts to GGWL by making it the lowest bidder. On various occasions, the defendant had confirmed to PCCW Solutions in writing that he had no conflict of interest in the purchases concerned.It was also revealed in the ICAC investigation that GGWL had never provided any service in relation to the 29 purchase orders. The services concerned were either provided by other service suppliers or carried out internally by PCCW Solutions.The prosecution earlier withdrew a charge of “money-laundering” against the defendant’s mother, Lee Po-mei, 67.PCCW and its subsidiaries had rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by Senior Public Prosecutor Audrey Parwani, assisted by ICAC officer Wilson Lam.The ICAC encourages public and private organisations to establish clear guidelines and systems of declaration on conflict of interest. Staff should avoid conflict of interest and make declarations in strict adherence to internal guidelines. Concealing any conflict of interest in relation to one’s official duties to benefit himself or his associates may contravene the criminal law, such as the Prevention of Bribery Ordinance if offering or accepting of bribes is involved. 18
Jun 2024Businessman charged by ICAC for laundering RMB 400mA businessman was charged by the ICAC yesterday (June 17) for allegedly laundering crime proceeds totalling over RMB 400 million through a bank account in Hong Kong.Tan Kim Chwee, 60, faces one count of dealing with property known or believed to represent proceeds of indictable offence, contrary to section 25(1) of the Organized and Serious Crimes Ordinance. He was released on ICAC bail, pending his appearance at the Eastern Magistrates’ Courts tomorrow (June 19) for mention.The charge alleges that between February and September 2020, the defendant dealt with two sums totalling over RMB 400 million in his bank account held with a bank in Hong Kong, knowing or having reasonable grounds to believe that the sums in whole or in part directly or indirectly represented any person’s proceeds of an indictable offence.The ICAC investigation arose from a corruption complaint. Enquiries revealed the defendant’s alleged involvement in illegal activities by assisting another man to hold the shares of a company between 2013 and 2020, and using the defendant’s bank account in Hong Kong to receive sums totalling over RMB 400 million between February and September 2020 after the shares were sold.The relevant investigation is continuing, the ICAC does not rule out laying more charges against the defendant.The bank concerned has rendered full assistance to the ICAC during its investigation into the case.