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Nov 2024Ex-manager of electric motors company charged by ICAC pleads guilty at High Court to $70m purchase orders fraud by concealing conflict of interestA former manager of an electric motors company, charged by the ICAC, today (November 25) admitted at the Court of First Instance of the High Court that he had deceived the company into placing over 1,300 purchase orders of electronic parts worth totalling over $70 million with a supplier in six and a half years by concealing the interest of himself and his family member in the supplier.Seh Yat-wing, 60, former manager of Johnson Electric Group, today pleaded guilty to two counts of fraud, contrary to section 16A of the Theft Ordinance. Mr Justice Andrew Chan Hing-wai adjourned the case to December 4 for sentence and granted the defendant bail.The ICAC advises business organisations to establish clear guidelines and systems of declaration on 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.The court heard that publicly listed Johnson Electric Holdings Limited and its subsidiaries (collectively referred to as Johnson Electric Group) engaged in the manufacturing and sale of motion systems. In accordance with the policy of Johnson Electric Group managing conflict of interest, its employees should not engage in any business of its suppliers or customers. In addition, its employees should disclose relationships that may present a possible conflict of interest.The defendant joined Johnson Electric Group in 2006 as assistant manager and was promoted to manager in 2015. He was responsible for selecting suitable suppliers for the group and procuring electric parts.The ICAC investigation arose from a corruption complaint. Enquiries revealed that in September 2010, the defendant approved the applications of Eaton Enterprise Limited (Eaton) for registering as supplier of Johnson Electric Group. Between September 2010 and March 2017, Johnson Electric Group placed over 1,300 orders of electric parts with Eaton and settled payments amounted to over $70 million.ICAC enquiries revealed that the defendant concealed from Johnson Electric Group his or his family member’s interests in Eaton. At the material time, the defendant and the registered sole director cum shareholder of Eaton gave birth to a girl, but the defendant had never declared to Johnson Electric Group their relationship and his interest in Eaton. Had Johnson Electric Group known the relationship between the defendant and Eaton, it would not have registered Eaton as its supplier and placed orders with it.Enquiries also revealed that the defendant received from Eaton around $7.4 million out of the payments settled by Johnson Electric Group totalling over $70 million.Johnson Electric Group 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 Kenneth Chan. 23
Nov 2024Mastermind and 12 others charged by ICAC in $52m dummy agents commissions fraud plead guilty in District CourtAn ICAC corruption investigation earlier revealed a dummy insurance agents’ scheme where individuals had conspired together to defraud two insurers of commissions totalling about $52 million by making false representation about the handling agents of 478 insurance policies and to launder crime proceeds. The mastermind, a former branch manager of an insurer, and 12 dummy insurance agents today (November 23) pleaded guilty at the District Court to their respective roles in the scheme.The instigator in the present case, Lo Yin-wa, 32, former branch manager of FWD Life Insurance Company (Bermuda) Limited (FWD), pleaded guilty to 20 charges – two of conspiracy to defraud, contrary to the Common Law; and 18 of conspiracy to deal with property known or believed to represent proceeds of an indictable offence (conspiracy to launder crime proceeds), contrary to section 25(1) of the Organized and Serious Crimes Ordinance and section 159A(1) of the Crimes Ordinance.Twelve co-defendants, aged between 24 and 61, are seven insurance agents of Lo Yin-wa’s team in FWD – Chan Ka-yu, Lam Hiu-tung, Lam Wai-kit, Wong Bryant, Woo Kin-leung, Zhou Yutian and Cheung Ho-cheung; the former unit manager of Sun Life Hong Kong Limited (Sun Life HK), Kwok Yun-fong, and her four downline agents Tang Ho-lun, To Wai-to, Wong Lin-yan and Leung Tsz-wing. They admitted various counts of conspiracy to defraud and conspiracy to launder crime proceeds.Judge Mr Josiah Lam Wai-kuen adjourned the case to December 21 for continuation of mitigation. To Wai-to, Wong Lin-yan, Chan Ka-yu, Lam Hiu-tung, Zhou Yutian and Cheung Ho-cheung were remanded in custody of the Correctional Services Department, while another seven defendants were granted bail.The ICAC investigation arose from a corruption complaint against dummy insurance agents. Enquiries revealed that between February 2016 and November 2020, Lo Yin-wa had recruited co-defendants in the case and others to join either Sun Life HK or FWD. Lo Yin-wa told some of the recruited persons that they were dummy insurance agents and were not required to source any clients after joining the insurers.The ICAC investigation revealed that Lo Yin-wa had conspired with other FWD insurance agents to falsely represent that the FWD insurance agents recruited by Lo Yin-wa were the handling agents of 272 insurance policy applications. In addition, Lo Yin-wa had conspired with Kwok Yun-fong and other Sun Life HK insurance agents to falsely represent that the Sun Life HK insurance agents recruited by Lo Yin-wa were the handling agents of 206 insurance policy applications.Sun Life HK and FWD, which had no knowledge of the scheme, approved the above 478 applications and released commissions, incentives, bonuses and allowances totalling over $22 million to Lo Yin-wa’s team, and over $29 million to Kwok Yun-fong’s team.The ICAC enquiries revealed that the above 478 insurance policy applications mostly involved high commission rate insurance products. In the end, most of the insurance policies concerned lapsed after subsequent premiums were not paid.The court also heard that Lo Yin-wa requested the dummy insurance agents to return most of the payments to her after receiving commissions and other payments from the insurers. Individuals involved in the case then laundered crime proceeds totalling about $47 million in relation to the scheme through 23 bank accounts, which in fact were controlled by Lo Yin-wa, to receive the commissions and other payments concerned.Lo Yin-wa’s husband and FWD insurance agent, Kwok Ho-leung, was also charged with two counts of conspiracy to defraud. The charges were left on file at the District Court.Four other co-defendants, former Sun Life HK insurance agents Mo Wing-han and Lo Nga-wing; and former FWD insurance agents Ngan Tsz-ting and Kong Tsz-ying, earlier pleaded not guilty to conspiracy to launder crime proceeds and conspiracy to defraud at the District Court. Their case was adjourned to March 20, 2025 for a pre-trial review and the trial is set to commence on May 12, 2025.FWD and Sun Life HK rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by prosecuting counsel Wong Hay-yiu, assisted by ICAC officers Nick Lai and Chase Wong. 20
Nov 2024Team leader of Three-Runway System Project charged by ICAC jailed for 17 weeks for accepting bribes from imported workersFollowing the receipt of corruption complaints alleging wage exploitation of imported workers, the ICAC conducted an investigation and revealed that a leader of a team of carpenters of the Three-Runway System Project (3RS Project) of the Hong Kong International Airport had accepted bribes totalling about $54,000 from 10 imported workers for assisting them to continue their employment. The team leader, charged by the Commission, received a jail term of 17 weeks after pleading guilty to bribery at the West Kowloon Magistrates’ Courts today (November 20).The ICAC urges construction workers not to tolerate corruption. Should they be asked to pay bribes in exchange for their employment, they should reject and report to the ICAC immediately. To enhance imported workers’ understanding of Hong Kong’s anti-corruption laws, the ICAC has arranged corruption prevention talks for imported workers within eight weeks of their arrival. Additionally, the ICAC will also make use of other channels to sustain the anti-graft education to imported workers.The team leader of carpenters, Chen Xianliang, 62, was an imported worker employed by Gammon Construction Limited (Gammon). He pleaded guilty to 10 counts of agent accepting an advantage, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance.In sentencing, Acting Principal Magistrate Mr Cheng Lim-chi remarked that the offences in the present case were serious in nature. The court would not tolerate any illicit activity of its kind and that an immediate custodial sentence was inevitable.The court heard that in 2020, Gammon was awarded by the Airport Authority Hong Kong a contract of automated people mover and baggage handling system project of the 3RS Project and imported workers through the Labour Importation Scheme for Construction Sector of the Development Bureau. The defendant was an imported team leader employed by Gammon through the scheme. He was responsible for leading a team of imported carpenters under the supervision of a subcontractor of Gammon.The ICAC investigation revealed that 10 workers referred by the defendant to work in his team at a monthly salary of $37,800 arrived Hong Kong from the Mainland in late December 2023.After the arrival of the carpenters, the defendant solicited a bribe of $600 per working day from each of them. The carpenters believed that their employment by Gammon would not be continued if they had not paid bribes to the defendant. In the end, the defendant accepted bribes ranging from $4,800 to $5,400 from each carpenter, totalling about $54,000.Gammon prohibited its employees from soliciting or accepting any advantages from others for matters in relation to the affairs or business of the company.The Development Bureau and Gammon rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by ICAC officer Fung Lee. 19
Nov 2024Insurance intermediary charged by ICAC gets seven months’ jail for conspiring with policyholders over insurance claims fraudAn insurance intermediary, charged by the ICAC, was today (November 19) sentenced to seven months’ imprisonment at the Eastern Magistrates’ Courts for conspiring with two policyholders to deceive an insurer into paying accident insurance compensation to them by making false representations about their injuries. The offence was revealed in the course of an ICAC corruption investigation.Lalwani Jay Jerome, 35, formerly engaged by Asia One Asset Management Limited (Asia One) as a referrer, was earlier convicted of four counts of conspiracy to defraud, contrary to the Common Law, after trial. The court had earlier ordered the defendant to compensate a sum of about $52,000 to the insurer.In sentencing, Magistrate Mr Tsang Chung-yiu reprimanded the defendant for his dishonesty, adding that the court had to mete out a custodial sentence to convey a proper message to the society that the fraudulent acts in the present case amounted to serious offences.At the material time, insurance broker Asia One was entrusted by AIA International Limited (AIA) to sell its insurance products to customers. When the case took place between late 2017 and June 2018, two policyholders Tam Kai-chun and Lam In-kwan respectively took out an AIA life insurance policy with an accident rider through Lalwani.The insurance policies covered accident medical expenses reimbursement and accident indemnity. The policyholders were required to submit an accident insurance claim to AIA directly or via Asia One, supported by documentary proof, including receipts of medical consultations or treatments, and sick leave certificates or receipts issued by doctors or physiotherapists.The court heard that in their applications for insurance claims, Lalwani and the two policyholders falsely represented to AIA that the latter had respectively suffered injuries in his/her back or knees, and attached various documents purportedly issued by two doctors and two physiotherapy clinics to support that the duo had suffered from injuries, attended for medical consultations with the aforesaid doctors or therapists of the physiotherapy clinics, and taken sick leave. As a result, they had deceived AIA into paying insurance compensation totalling at least over $52,000.The ICAC investigation arose from a corruption complaint. Enquiries revealed that the two policyholders did not suffer from the aforesaid injuries, nor did they receive any treatment or take the sick leave concerned.The policyholders concerned, Tam, 37, and Lam, 34, were also charged by the ICAC for their roles in separate cases. The duo had earlier pleaded guilty and their cases were both adjourned to November 25 for mention.AIA rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by Senior Public Prosecutor Steven Liu, assisted by ICAC officer Ivy Ho. 07
May 2024Trading company duo charged by ICAC for offering over HK$1m bribes to vice president of bank over receipt of fundA director and a representative of a trading company were charged by the ICAC today (May 6) for allegedly offering bribes totalling HK$1.02 million to a vice president of a bank for assisting the company to receive an investment fund claimed to amount to $200 billion euros through its account held with the bank.Wammy Ngan Wang-lai and Jiang Jiaxin, respectively sole director cum shareholder and representative of Hong Kong Chinese Reserve International Company Limited (Chinese Reserve), both 55, jointly face two charges – one of conspiracy to offer an advantage to an agent and one of offering an advantage to an agent, contrary to Section 9(2)(a) of the Prevention of Bribery Ordinance (POBO) and Section 159A of the Crimes Ordinance.The two defendants were released on ICAC bail, pending their appearance in the Eastern Magistrates’ Courts on Wednesday (May 8) for mention. The prosecution will apply for transferring the case to the District Court for plea.At the material time, Chinese Reserve held a bank account with DBS Bank (Hong Kong) Limited (DBS Bank), which required its customers to provide supporting documents in respect of large transactions for verification for due diligence purpose.It is alleged that between July and August 2023, the defendants conspired together to offer two bribe payments of HK$1 million and HK$20,000 respectively to a vice president of DBS Bank for assisting Chinese Reserve to re-activate its dormant bank account held with DBS Bank in order to receive an investment fund through the account.The vice president rejected the defendants’ offers and reported the matter to the bank. The ICAC subsequently received a corruption complaint and conducted an investigation. Enquiries revealed that Ngan claimed that Chinese Reserve had to receive an investment fund of $200 billion euros through its bank account held with DBS Bank and allegedly provided false documents to the bank.The ICAC reminds members of the public not to bribe bank staff in exchange for its services, otherwise it may constitute breaches of the POBO. Should anyone comes across any suspicion of corruption, he or she should report to the ICAC immediately. ICAC 24-hour Report Corruption Hotline: 25 266 366.The ICAC has been actively promoting corruption prevention services to banks and enhancing banking practitioners’ knowledge on the anti-corruption laws. The newly launched “Corruption Prevention Guide for Banks” assists banks in managing corruption risks in core operations, including accounts opening. An Ethics Promotion Programme for the Banking Industry was also launched to help bank staff to understand common corruption loopholes.DBS Bank has rendered full assistance to the ICAC during its investigation into the case.
Nov 2024Ex-manager of electric motors company charged by ICAC pleads guilty at High Court to $70m purchase orders fraud by concealing conflict of interestA former manager of an electric motors company, charged by the ICAC, today (November 25) admitted at the Court of First Instance of the High Court that he had deceived the company into placing over 1,300 purchase orders of electronic parts worth totalling over $70 million with a supplier in six and a half years by concealing the interest of himself and his family member in the supplier.Seh Yat-wing, 60, former manager of Johnson Electric Group, today pleaded guilty to two counts of fraud, contrary to section 16A of the Theft Ordinance. Mr Justice Andrew Chan Hing-wai adjourned the case to December 4 for sentence and granted the defendant bail.The ICAC advises business organisations to establish clear guidelines and systems of declaration on 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.The court heard that publicly listed Johnson Electric Holdings Limited and its subsidiaries (collectively referred to as Johnson Electric Group) engaged in the manufacturing and sale of motion systems. In accordance with the policy of Johnson Electric Group managing conflict of interest, its employees should not engage in any business of its suppliers or customers. In addition, its employees should disclose relationships that may present a possible conflict of interest.The defendant joined Johnson Electric Group in 2006 as assistant manager and was promoted to manager in 2015. He was responsible for selecting suitable suppliers for the group and procuring electric parts.The ICAC investigation arose from a corruption complaint. Enquiries revealed that in September 2010, the defendant approved the applications of Eaton Enterprise Limited (Eaton) for registering as supplier of Johnson Electric Group. Between September 2010 and March 2017, Johnson Electric Group placed over 1,300 orders of electric parts with Eaton and settled payments amounted to over $70 million.ICAC enquiries revealed that the defendant concealed from Johnson Electric Group his or his family member’s interests in Eaton. At the material time, the defendant and the registered sole director cum shareholder of Eaton gave birth to a girl, but the defendant had never declared to Johnson Electric Group their relationship and his interest in Eaton. Had Johnson Electric Group known the relationship between the defendant and Eaton, it would not have registered Eaton as its supplier and placed orders with it.Enquiries also revealed that the defendant received from Eaton around $7.4 million out of the payments settled by Johnson Electric Group totalling over $70 million.Johnson Electric Group 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 Kenneth Chan. 23
Nov 2024Mastermind and 12 others charged by ICAC in $52m dummy agents commissions fraud plead guilty in District CourtAn ICAC corruption investigation earlier revealed a dummy insurance agents’ scheme where individuals had conspired together to defraud two insurers of commissions totalling about $52 million by making false representation about the handling agents of 478 insurance policies and to launder crime proceeds. The mastermind, a former branch manager of an insurer, and 12 dummy insurance agents today (November 23) pleaded guilty at the District Court to their respective roles in the scheme.The instigator in the present case, Lo Yin-wa, 32, former branch manager of FWD Life Insurance Company (Bermuda) Limited (FWD), pleaded guilty to 20 charges – two of conspiracy to defraud, contrary to the Common Law; and 18 of conspiracy to deal with property known or believed to represent proceeds of an indictable offence (conspiracy to launder crime proceeds), contrary to section 25(1) of the Organized and Serious Crimes Ordinance and section 159A(1) of the Crimes Ordinance.Twelve co-defendants, aged between 24 and 61, are seven insurance agents of Lo Yin-wa’s team in FWD – Chan Ka-yu, Lam Hiu-tung, Lam Wai-kit, Wong Bryant, Woo Kin-leung, Zhou Yutian and Cheung Ho-cheung; the former unit manager of Sun Life Hong Kong Limited (Sun Life HK), Kwok Yun-fong, and her four downline agents Tang Ho-lun, To Wai-to, Wong Lin-yan and Leung Tsz-wing. They admitted various counts of conspiracy to defraud and conspiracy to launder crime proceeds.Judge Mr Josiah Lam Wai-kuen adjourned the case to December 21 for continuation of mitigation. To Wai-to, Wong Lin-yan, Chan Ka-yu, Lam Hiu-tung, Zhou Yutian and Cheung Ho-cheung were remanded in custody of the Correctional Services Department, while another seven defendants were granted bail.The ICAC investigation arose from a corruption complaint against dummy insurance agents. Enquiries revealed that between February 2016 and November 2020, Lo Yin-wa had recruited co-defendants in the case and others to join either Sun Life HK or FWD. Lo Yin-wa told some of the recruited persons that they were dummy insurance agents and were not required to source any clients after joining the insurers.The ICAC investigation revealed that Lo Yin-wa had conspired with other FWD insurance agents to falsely represent that the FWD insurance agents recruited by Lo Yin-wa were the handling agents of 272 insurance policy applications. In addition, Lo Yin-wa had conspired with Kwok Yun-fong and other Sun Life HK insurance agents to falsely represent that the Sun Life HK insurance agents recruited by Lo Yin-wa were the handling agents of 206 insurance policy applications.Sun Life HK and FWD, which had no knowledge of the scheme, approved the above 478 applications and released commissions, incentives, bonuses and allowances totalling over $22 million to Lo Yin-wa’s team, and over $29 million to Kwok Yun-fong’s team.The ICAC enquiries revealed that the above 478 insurance policy applications mostly involved high commission rate insurance products. In the end, most of the insurance policies concerned lapsed after subsequent premiums were not paid.The court also heard that Lo Yin-wa requested the dummy insurance agents to return most of the payments to her after receiving commissions and other payments from the insurers. Individuals involved in the case then laundered crime proceeds totalling about $47 million in relation to the scheme through 23 bank accounts, which in fact were controlled by Lo Yin-wa, to receive the commissions and other payments concerned.Lo Yin-wa’s husband and FWD insurance agent, Kwok Ho-leung, was also charged with two counts of conspiracy to defraud. The charges were left on file at the District Court.Four other co-defendants, former Sun Life HK insurance agents Mo Wing-han and Lo Nga-wing; and former FWD insurance agents Ngan Tsz-ting and Kong Tsz-ying, earlier pleaded not guilty to conspiracy to launder crime proceeds and conspiracy to defraud at the District Court. Their case was adjourned to March 20, 2025 for a pre-trial review and the trial is set to commence on May 12, 2025.FWD and Sun Life HK rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by prosecuting counsel Wong Hay-yiu, assisted by ICAC officers Nick Lai and Chase Wong. 20
Nov 2024Team leader of Three-Runway System Project charged by ICAC jailed for 17 weeks for accepting bribes from imported workersFollowing the receipt of corruption complaints alleging wage exploitation of imported workers, the ICAC conducted an investigation and revealed that a leader of a team of carpenters of the Three-Runway System Project (3RS Project) of the Hong Kong International Airport had accepted bribes totalling about $54,000 from 10 imported workers for assisting them to continue their employment. The team leader, charged by the Commission, received a jail term of 17 weeks after pleading guilty to bribery at the West Kowloon Magistrates’ Courts today (November 20).The ICAC urges construction workers not to tolerate corruption. Should they be asked to pay bribes in exchange for their employment, they should reject and report to the ICAC immediately. To enhance imported workers’ understanding of Hong Kong’s anti-corruption laws, the ICAC has arranged corruption prevention talks for imported workers within eight weeks of their arrival. Additionally, the ICAC will also make use of other channels to sustain the anti-graft education to imported workers.The team leader of carpenters, Chen Xianliang, 62, was an imported worker employed by Gammon Construction Limited (Gammon). He pleaded guilty to 10 counts of agent accepting an advantage, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance.In sentencing, Acting Principal Magistrate Mr Cheng Lim-chi remarked that the offences in the present case were serious in nature. The court would not tolerate any illicit activity of its kind and that an immediate custodial sentence was inevitable.The court heard that in 2020, Gammon was awarded by the Airport Authority Hong Kong a contract of automated people mover and baggage handling system project of the 3RS Project and imported workers through the Labour Importation Scheme for Construction Sector of the Development Bureau. The defendant was an imported team leader employed by Gammon through the scheme. He was responsible for leading a team of imported carpenters under the supervision of a subcontractor of Gammon.The ICAC investigation revealed that 10 workers referred by the defendant to work in his team at a monthly salary of $37,800 arrived Hong Kong from the Mainland in late December 2023.After the arrival of the carpenters, the defendant solicited a bribe of $600 per working day from each of them. The carpenters believed that their employment by Gammon would not be continued if they had not paid bribes to the defendant. In the end, the defendant accepted bribes ranging from $4,800 to $5,400 from each carpenter, totalling about $54,000.Gammon prohibited its employees from soliciting or accepting any advantages from others for matters in relation to the affairs or business of the company.The Development Bureau and Gammon rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by ICAC officer Fung Lee. 19
Nov 2024Insurance intermediary charged by ICAC gets seven months’ jail for conspiring with policyholders over insurance claims fraudAn insurance intermediary, charged by the ICAC, was today (November 19) sentenced to seven months’ imprisonment at the Eastern Magistrates’ Courts for conspiring with two policyholders to deceive an insurer into paying accident insurance compensation to them by making false representations about their injuries. The offence was revealed in the course of an ICAC corruption investigation.Lalwani Jay Jerome, 35, formerly engaged by Asia One Asset Management Limited (Asia One) as a referrer, was earlier convicted of four counts of conspiracy to defraud, contrary to the Common Law, after trial. The court had earlier ordered the defendant to compensate a sum of about $52,000 to the insurer.In sentencing, Magistrate Mr Tsang Chung-yiu reprimanded the defendant for his dishonesty, adding that the court had to mete out a custodial sentence to convey a proper message to the society that the fraudulent acts in the present case amounted to serious offences.At the material time, insurance broker Asia One was entrusted by AIA International Limited (AIA) to sell its insurance products to customers. When the case took place between late 2017 and June 2018, two policyholders Tam Kai-chun and Lam In-kwan respectively took out an AIA life insurance policy with an accident rider through Lalwani.The insurance policies covered accident medical expenses reimbursement and accident indemnity. The policyholders were required to submit an accident insurance claim to AIA directly or via Asia One, supported by documentary proof, including receipts of medical consultations or treatments, and sick leave certificates or receipts issued by doctors or physiotherapists.The court heard that in their applications for insurance claims, Lalwani and the two policyholders falsely represented to AIA that the latter had respectively suffered injuries in his/her back or knees, and attached various documents purportedly issued by two doctors and two physiotherapy clinics to support that the duo had suffered from injuries, attended for medical consultations with the aforesaid doctors or therapists of the physiotherapy clinics, and taken sick leave. As a result, they had deceived AIA into paying insurance compensation totalling at least over $52,000.The ICAC investigation arose from a corruption complaint. Enquiries revealed that the two policyholders did not suffer from the aforesaid injuries, nor did they receive any treatment or take the sick leave concerned.The policyholders concerned, Tam, 37, and Lam, 34, were also charged by the ICAC for their roles in separate cases. The duo had earlier pleaded guilty and their cases were both adjourned to November 25 for mention.AIA rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by Senior Public Prosecutor Steven Liu, assisted by ICAC officer Ivy Ho. 07
May 2024Trading company duo charged by ICAC for offering over HK$1m bribes to vice president of bank over receipt of fundA director and a representative of a trading company were charged by the ICAC today (May 6) for allegedly offering bribes totalling HK$1.02 million to a vice president of a bank for assisting the company to receive an investment fund claimed to amount to $200 billion euros through its account held with the bank.Wammy Ngan Wang-lai and Jiang Jiaxin, respectively sole director cum shareholder and representative of Hong Kong Chinese Reserve International Company Limited (Chinese Reserve), both 55, jointly face two charges – one of conspiracy to offer an advantage to an agent and one of offering an advantage to an agent, contrary to Section 9(2)(a) of the Prevention of Bribery Ordinance (POBO) and Section 159A of the Crimes Ordinance.The two defendants were released on ICAC bail, pending their appearance in the Eastern Magistrates’ Courts on Wednesday (May 8) for mention. The prosecution will apply for transferring the case to the District Court for plea.At the material time, Chinese Reserve held a bank account with DBS Bank (Hong Kong) Limited (DBS Bank), which required its customers to provide supporting documents in respect of large transactions for verification for due diligence purpose.It is alleged that between July and August 2023, the defendants conspired together to offer two bribe payments of HK$1 million and HK$20,000 respectively to a vice president of DBS Bank for assisting Chinese Reserve to re-activate its dormant bank account held with DBS Bank in order to receive an investment fund through the account.The vice president rejected the defendants’ offers and reported the matter to the bank. The ICAC subsequently received a corruption complaint and conducted an investigation. Enquiries revealed that Ngan claimed that Chinese Reserve had to receive an investment fund of $200 billion euros through its bank account held with DBS Bank and allegedly provided false documents to the bank.The ICAC reminds members of the public not to bribe bank staff in exchange for its services, otherwise it may constitute breaches of the POBO. Should anyone comes across any suspicion of corruption, he or she should report to the ICAC immediately. ICAC 24-hour Report Corruption Hotline: 25 266 366.The ICAC has been actively promoting corruption prevention services to banks and enhancing banking practitioners’ knowledge on the anti-corruption laws. The newly launched “Corruption Prevention Guide for Banks” assists banks in managing corruption risks in core operations, including accounts opening. An Ethics Promotion Programme for the Banking Industry was also launched to help bank staff to understand common corruption loopholes.DBS Bank has rendered full assistance to the ICAC during its investigation into the case.