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Ethical Decision MakingRecent ICAC Cases
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Jun 2025ICAC graft probe cracks $4.6m dummy agents insurance commissions fraud case, leading to four jailed for 12 to 32 monthsAn ICAC corruption investigation earlier revealed that an assistant manager of an insurance company had recruited dummy agents to defraud the insurer of commissions and payments totalling about $4.6 million, by taking out insurance policies with false particulars, while three downline dummy agents assisted in handling crime proceeds of over $2.3 million. The four defendants were today (June 11) sentenced at the District Court to jail terms from 12 months to 32 months.Chau Yui-kwan, 35, former assistant unit manager of China Taiping Life Insurance (Hong Kong) Company Limited (Taiping Life (HK)), was sentenced to 32 months’ imprisonment. He earlier pleaded guilty to nine counts of fraud, contrary to section 16A(1) of the Theft Ordinance.Three downline dummy agents of Chau, namely Choi Pui-ka, Chang Kiu-sum and Sit Siu-hang, aged between 31 and 33, all former business managers of Taiping Life (HK), received jail terms of 12 months, 14 months and 16 months respectively. The trio had each pleaded guilty to one count of dealing with property known or believed to represent proceeds of an indictable offence (commonly known as money laundering), contrary to section 25(1) of the Organised and Serious Crimes Ordinance.In sentencing, Judge Mr Ernest Lin Kam-hung noted that the defendants, in their capacity as licensed insurance agents, ought to uphold integrity. They had, however, orchestrated a premeditated scheme which lasted a long time and abused the trust placed in them by their employer for personal gains through fraudulent means, constituting a serious breach of trust. The judge took a starting point of imprisonment ranging from 21 months to 48 months, and reduced their jail terms to 12 months to 32 months respectively, having considered their guilty pleas and various mitigating factors.The court heard that at the material time, Chau was an assistant unit manager of Taiping Life (HK), while his three co-defendants were said to be downline insurance agents of Chau. Taiping Life (HK) required all its agents to explain the terms and conditions of relevant insurance policies to their clients in person when selling an insurance product.Taiping Life (HK) would issue commissions, bonuses and other payments to the handling agent and the team of his/her upline managers upon the approval of a policy application and receipt of the premium.The ICAC investigation stemmed from a corruption complaint. Enquiries revealed that between February and December 2021, Chau had falsely represented to Taiping Life (HK) that the three co-defendants and another insurance agent were the handling agents or joint agents of nine insurance policies. Taiping Life (HK) subsequently underwrote and issued those policies, releasing commissions and other payments totalling about $4.6 million.Enquiries found that Chau had requested the three co-defendants to return to him most of the commissions and other payments released by Taiping Life (HK). The trio then laundered over $2.3 million in crime proceeds in the scheme through three bank accounts.The ICAC investigation revealed that Chau recruited the three co-defendants and another individual, posing as dummy agents, to submit nine insurance policy applications in the present case to Taiping Life (HK). Some of the policyholders had never signed on the application forms concerned and they had never paid the relevant premiums.Taiping Life (HK) 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 Gary Cheung. 10
Jun 2025Ten months’ jail for then company manager charged by ICAC for soliciting $3m bribe from business partner over dispute resolutionA then manager of a company, charged by the ICAC and convicted after trial of soliciting a bribe of $2 million to $3 million from a business partner for assisting the latter to resolve a business dispute between the two companies on terms most favourable to the partner, was today (June 10) sentenced to 10 months’ imprisonment at the Eastern Magistrates’ Courts.Wang Wenning, 65, then manager of China Coal Hong Kong Limited (CCHK, formerly known as Double Resources Limited), was earlier found guilty of one count of agent soliciting an advantage, contrary to section 9(1)(b) of the Prevention of Bribery Ordinance.In sentencing, Magistrate Miss Minnie Wat Lai-man reprimanded the defendant for abusing his official capacity to solicit bribe money. She noted that corruption was a serious crime warranting a deterrent sentence, and imposed an immediate custodial sentence on the defendant.The court heard that in 1994, the parent company of CCHK and a business partner jointly invested in a property development project and capital injection was made by CCHK. CCHK subsequently intended to withdraw some of the investment fund from the project but the two parties failed to reach a final agreement. Since 2018, CCHK and the business partner had a dispute over the project. The defendant was assigned to resolve the dispute.The defendant subsequently arranged a one-on-one meeting with a director-cum-shareholder of the business partner. During the meeting, the defendant told the director-cum-shareholder that he was in urgent need of money for his personal financial problem, and solicited from the latter a bribe between $2 million and $3 million. The defendant claimed that he would assist the director-cum-shareholder to resolve the dispute on terms and conditions most favourable to him, but his solicitation was rejected.…/2CCHK prohibits its employees from soliciting or accepting advantages from others in relation to CCHK’s affairs and business.CCHK and the business partner concerned rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by prosecuting counsel Marc Corlett, assisted by ICAC officer Swing Chan. 10
Jun 2025Ex-manager of beverage company charged by ICAC gets 33 months’ jail for concealing conflicting interest in $1.9m ads, crime proceeds confiscatedA former marketing manager of a beverage company, charged by the ICAC and convicted after trial, was sentenced to 33 months’ imprisonment today (June 10) at the District Court for deceiving the company into awarding various outdoor advertisement purchase orders worth totalling about $1.9 million by concealing his control of a vendor, and conspiring with a subordinate to use false quotations and inspection reports to mislead the company. The convicted defendant was confiscated $600,000 in crime proceeds.Chan Wing-fung, 41, former manager of marketing department of Vitasoy International Holdings Limited (Vitasoy), was earlier found guilty after trial of three charges – two of conspiracy for agents to use documents with intent to deceive his principal, contrary to section 9(3) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance; and one of fraud, contrary to section 16A of the Theft Ordinance.In sentencing, Deputy Judge Ms Ivy Chui Yee-mei reprimanded Chan for committing a premeditated crime and intentionally failing to declare his conflict of interest to the company. The Judge added that in the present case which spanned over three and a half years, Chan immediately undermined company interest for personal gain of over $600,000, warranting a custodial sentence.The Judge today allowed the prosecution’s application in relation to one of the charges and ordered to confiscate crime proceeds of $600,000 of Chan, being the profits he made in the present case. Chan was ordered to satisfy the confiscation order within six months, failing which he will have to serve an additional term of imprisonment of 19 months.Co-defendant Keung Tze-ping, 50, former outdoor visibility officer of marketing department of Vitasoy, earlier pleaded guilty to the two counts of conspiracy for agents to use documents with intent to deceive her principal. She was today given a jail term of nine months, suspended for two years.Among other duties at the material time, Chan was responsible for approving the engagement of vendors for the merchandising team and outdoor advertising team of Vitasoy’s marketing department while Keung would assist Chan to obtain quotations from vendors. They were required to obtain at least two or three quotations, subject to the amount of a procurement exercise involved. As stipulated in the staff handbook of Vitasoy, all staff members were required to disclose any possible conflict of interest to Vitasoy and seek permission in writing prior to participating in any business which would possibly cause a conflict of interest.The ICAC investigation arose from a corruption complaint filed by Vitasoy following an internal audit conducted by the company. Enquiries revealed that in January 2016, Chan instructed his girlfriend to establish Why Creative Graphic Design House (Why Creative) to take up the orders from Vitasoy. Chan had never declared to Vitasoy his interest in Why Creative despite the fact that Why Creative was controlled by him.Between January 2016 and early October 2019, Chan awarded 39 outdoor advertisement purchase orders of Vitasoy which worth totalling about $1.9 million to Why Creative. Chan’s girlfriend transferred 40 per cent of the profit totalling over $600,000 to Chan according to their agreement.The court also heard that Chan had approved to pay a monthly fee of $36,000 to a vendor without the authorisation of his supervisor, falsely claiming that that the inspections were arranged on Vitasoy’s outdoor advertisements.When being asked by Vitasoy to submit the relevant quotations of the three vendors, including Why Creative, and the inspection reports, Chan conspired with subordinates, including Keung, to forge 30 sets of quotation documents purportedly issued by four vendors for Vitasoy’s examination, so as to mislead the company that the procurements had complied with the relevant policy. Meanwhile, they fabricated 38 sets of outdoor advertisement inspection reports to mislead Vitasoy that inspections were completed by the relevant vendor.ICAC investigation revealed that the four vendors had never issued the quotations concerned and the relevant vendor had not conducted the inspections mentioned in the inspection reports.Vitasoy has rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by prosecuting counsel Sabrina See, assisted by ICAC officer Leo Fung. 09
Jun 2025Three months’ jail for foreman of airport expansion works subcontractor charged by ICAC for soliciting and accepting bribes from bar-bendersA foreman of a subcontractor of the Terminal 2 expansion works of the Hong Kong International Airport, charged by the ICAC, was today (June 9) sentenced to three months’ imprisonment at the West Kowloon Magistrates’ Courts for soliciting and accepting bribes totalling about $16,000 from three bar-benders for assisting them to continue their employment and assigning overtime work to one of them to earn extra payments.Ko Chun-yin, 31, then foreman of Ho Chau & Sons (HK) Engineering Limited (HCL), was sentenced to a jail term of three months and ordered to repay his then employer over $12,000 in restitution, equivalent to the amount of bribes involved in the present case.The defendant earlier pleaded guilty to two counts of agent soliciting an advantage and six counts of agent accepting an advantage, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance.In sentencing, Magistrate Mr Gary Chu Man-hon noted that the offences in the present case were serious in nature that they came as a blow to the local labour market, lowered workers’ morale and undermined Hong Kong’s clean reputation. The court had to send out a clear message to the public that the corrupt deserved severe punishment. The magistrate took a starting point of six months’ imprisonment and reduced the jail term of the defendant to three months having considered his guilty plea and immediate full restitution of the bribes concerned.The court heard that HCL was a subcontractor of the Terminal 2 expansion works of the Hong Kong International Airport at the material time. The defendant was a foreman of HCL responsible for leading a team of bar-benders and assigning work to them. Should workers be required to work overtime, they would be paid 1.5 to two times of the standard hourly rate. HCL prohibited its employees from soliciting or accepting any advantages from others in relation to its business and affairs.Between April 2022 and February 2023, the defendant had respectively solicited from three bar-benders bribes of $100 per working day or an unspecified amount of “tea money” for assisting them to continue their employment with HCL. During the period, the defendant had eventually accepted bribes totalling $6,800 from the trio.The defendant had also solicited from one of the bar-benders bribes of $200 per working day for arranging him to perform overtime work to earn extra payments.The bar-bender reluctantly paid bribes totalling about $6,000 to the defendant for his overtime work on 30 working days.The ICAC investigation stemmed from a corruption complaint. Enquiries revealed that the workers believed that the defendant had the authority to dismiss them. The trio reluctantly paid bribes to the defendant as they worried about losing their jobs. One of the workers was dismissed on the spot after he refused to pay a bribe of $3,000 solicited by the defendant.HCL rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by ICAC officer Moon Leung. 05
Jun 2025Ex-bank manager faces bribery charge laid by ICAC for accepting cryptocurrency worth US$470,000 for authenticating false instrumentsThe ICAC had earlier charged two former bank managers for allegedly conspiring with an employee of a fintech company to use various false standby letters of credit (L/Cs) and collateral letters. Pursuant to the further legal advice of the Department of Justice upon completion of investigation by the ICAC, an additional bribery charge was laid against one of the duo while the indictment in relation to the two counts of conspiracy to use false instruments were amended when the case was brought to the Eastern Magistrates’ Courts for mention today (June 5). The additional charge alleged that the defendant had accepted cryptocurrency worth over US$470,000 from the fintech company employee, a middleman and others for authenticating false instruments. The case will be transferred to the District Court.Lam Chun-yin, 30, former relationship manager of China Construction Bank (Asia) Corporation Limited (CCB (Asia)), was charged with an additional count of conspiracy for an agent to accept advantages, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance.Besides, Lam and Lee Ka-man, 34, former senior relationship manager of Standard Chartered Bank (Hong Kong) Limited (Standard Chartered HK), each faced one count of conspiracy to use false instruments, contrary to sections 73 and 159A of the Crimes Ordinance.No plea was taken today. Magistrate Madam Frances Leung adjourned the case to 21 August 2025 for mention. The prosecution will apply for transferring the case to the District Court for plea. The defendants were granted bail.The ICAC investigation stemmed from a corruption complaint and revealed the alleged offences which took place between April 2022 and July 2023. At the material time, Vesttoo Limited (Vesttoo) was an overseas fintech company operating a digital platform to facilitate insurance-linked securities transactions. Investors were required to provide standby L/Cs issued by banks or collateral letters endorsed by banks as a guarantee of payments.The bribery charge alleged that Lam had accepted bribes, namely Tether, a cryptocurrency, worth totalling over US$470,000, from an employee of Vesttoo Udi Ginati, a middleman Wan Cheuk-lun and others for authenticating standby L/Cs and collateral letters which were purportedly issued or endorsed by China Construction Bank Corporation (CCB). CCB had, in fact, never issued or endorsed those documents.The amended charges of conspiracy to use false instruments alleged that Lam had conspired together with the said Vesttoo employee, middleman and others to use 88 false standby L/Cs and two false collateral letters purportedly issued or endorsed by CCB, with the intention of inducing others to accept them as genuine. It was alleged that Lee had conspired together with others to use four false standby L/Cs purportedly issued by Standard Chartered HK with intent to induce others to accept them as genuine.CCB (Asia) and Standard Chartered HK rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by Acting Senior Public Prosecutor Douglas Lau, assisted by ICAC officer Ken Wong.
Jun 2025ICAC graft probe cracks $4.6m dummy agents insurance commissions fraud case, leading to four jailed for 12 to 32 monthsAn ICAC corruption investigation earlier revealed that an assistant manager of an insurance company had recruited dummy agents to defraud the insurer of commissions and payments totalling about $4.6 million, by taking out insurance policies with false particulars, while three downline dummy agents assisted in handling crime proceeds of over $2.3 million. The four defendants were today (June 11) sentenced at the District Court to jail terms from 12 months to 32 months.Chau Yui-kwan, 35, former assistant unit manager of China Taiping Life Insurance (Hong Kong) Company Limited (Taiping Life (HK)), was sentenced to 32 months’ imprisonment. He earlier pleaded guilty to nine counts of fraud, contrary to section 16A(1) of the Theft Ordinance.Three downline dummy agents of Chau, namely Choi Pui-ka, Chang Kiu-sum and Sit Siu-hang, aged between 31 and 33, all former business managers of Taiping Life (HK), received jail terms of 12 months, 14 months and 16 months respectively. The trio had each pleaded guilty to one count of dealing with property known or believed to represent proceeds of an indictable offence (commonly known as money laundering), contrary to section 25(1) of the Organised and Serious Crimes Ordinance.In sentencing, Judge Mr Ernest Lin Kam-hung noted that the defendants, in their capacity as licensed insurance agents, ought to uphold integrity. They had, however, orchestrated a premeditated scheme which lasted a long time and abused the trust placed in them by their employer for personal gains through fraudulent means, constituting a serious breach of trust. The judge took a starting point of imprisonment ranging from 21 months to 48 months, and reduced their jail terms to 12 months to 32 months respectively, having considered their guilty pleas and various mitigating factors.The court heard that at the material time, Chau was an assistant unit manager of Taiping Life (HK), while his three co-defendants were said to be downline insurance agents of Chau. Taiping Life (HK) required all its agents to explain the terms and conditions of relevant insurance policies to their clients in person when selling an insurance product.Taiping Life (HK) would issue commissions, bonuses and other payments to the handling agent and the team of his/her upline managers upon the approval of a policy application and receipt of the premium.The ICAC investigation stemmed from a corruption complaint. Enquiries revealed that between February and December 2021, Chau had falsely represented to Taiping Life (HK) that the three co-defendants and another insurance agent were the handling agents or joint agents of nine insurance policies. Taiping Life (HK) subsequently underwrote and issued those policies, releasing commissions and other payments totalling about $4.6 million.Enquiries found that Chau had requested the three co-defendants to return to him most of the commissions and other payments released by Taiping Life (HK). The trio then laundered over $2.3 million in crime proceeds in the scheme through three bank accounts.The ICAC investigation revealed that Chau recruited the three co-defendants and another individual, posing as dummy agents, to submit nine insurance policy applications in the present case to Taiping Life (HK). Some of the policyholders had never signed on the application forms concerned and they had never paid the relevant premiums.Taiping Life (HK) 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 Gary Cheung. 10
Jun 2025Ten months’ jail for then company manager charged by ICAC for soliciting $3m bribe from business partner over dispute resolutionA then manager of a company, charged by the ICAC and convicted after trial of soliciting a bribe of $2 million to $3 million from a business partner for assisting the latter to resolve a business dispute between the two companies on terms most favourable to the partner, was today (June 10) sentenced to 10 months’ imprisonment at the Eastern Magistrates’ Courts.Wang Wenning, 65, then manager of China Coal Hong Kong Limited (CCHK, formerly known as Double Resources Limited), was earlier found guilty of one count of agent soliciting an advantage, contrary to section 9(1)(b) of the Prevention of Bribery Ordinance.In sentencing, Magistrate Miss Minnie Wat Lai-man reprimanded the defendant for abusing his official capacity to solicit bribe money. She noted that corruption was a serious crime warranting a deterrent sentence, and imposed an immediate custodial sentence on the defendant.The court heard that in 1994, the parent company of CCHK and a business partner jointly invested in a property development project and capital injection was made by CCHK. CCHK subsequently intended to withdraw some of the investment fund from the project but the two parties failed to reach a final agreement. Since 2018, CCHK and the business partner had a dispute over the project. The defendant was assigned to resolve the dispute.The defendant subsequently arranged a one-on-one meeting with a director-cum-shareholder of the business partner. During the meeting, the defendant told the director-cum-shareholder that he was in urgent need of money for his personal financial problem, and solicited from the latter a bribe between $2 million and $3 million. The defendant claimed that he would assist the director-cum-shareholder to resolve the dispute on terms and conditions most favourable to him, but his solicitation was rejected.…/2CCHK prohibits its employees from soliciting or accepting advantages from others in relation to CCHK’s affairs and business.CCHK and the business partner concerned rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by prosecuting counsel Marc Corlett, assisted by ICAC officer Swing Chan. 10
Jun 2025Ex-manager of beverage company charged by ICAC gets 33 months’ jail for concealing conflicting interest in $1.9m ads, crime proceeds confiscatedA former marketing manager of a beverage company, charged by the ICAC and convicted after trial, was sentenced to 33 months’ imprisonment today (June 10) at the District Court for deceiving the company into awarding various outdoor advertisement purchase orders worth totalling about $1.9 million by concealing his control of a vendor, and conspiring with a subordinate to use false quotations and inspection reports to mislead the company. The convicted defendant was confiscated $600,000 in crime proceeds.Chan Wing-fung, 41, former manager of marketing department of Vitasoy International Holdings Limited (Vitasoy), was earlier found guilty after trial of three charges – two of conspiracy for agents to use documents with intent to deceive his principal, contrary to section 9(3) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance; and one of fraud, contrary to section 16A of the Theft Ordinance.In sentencing, Deputy Judge Ms Ivy Chui Yee-mei reprimanded Chan for committing a premeditated crime and intentionally failing to declare his conflict of interest to the company. The Judge added that in the present case which spanned over three and a half years, Chan immediately undermined company interest for personal gain of over $600,000, warranting a custodial sentence.The Judge today allowed the prosecution’s application in relation to one of the charges and ordered to confiscate crime proceeds of $600,000 of Chan, being the profits he made in the present case. Chan was ordered to satisfy the confiscation order within six months, failing which he will have to serve an additional term of imprisonment of 19 months.Co-defendant Keung Tze-ping, 50, former outdoor visibility officer of marketing department of Vitasoy, earlier pleaded guilty to the two counts of conspiracy for agents to use documents with intent to deceive her principal. She was today given a jail term of nine months, suspended for two years.Among other duties at the material time, Chan was responsible for approving the engagement of vendors for the merchandising team and outdoor advertising team of Vitasoy’s marketing department while Keung would assist Chan to obtain quotations from vendors. They were required to obtain at least two or three quotations, subject to the amount of a procurement exercise involved. As stipulated in the staff handbook of Vitasoy, all staff members were required to disclose any possible conflict of interest to Vitasoy and seek permission in writing prior to participating in any business which would possibly cause a conflict of interest.The ICAC investigation arose from a corruption complaint filed by Vitasoy following an internal audit conducted by the company. Enquiries revealed that in January 2016, Chan instructed his girlfriend to establish Why Creative Graphic Design House (Why Creative) to take up the orders from Vitasoy. Chan had never declared to Vitasoy his interest in Why Creative despite the fact that Why Creative was controlled by him.Between January 2016 and early October 2019, Chan awarded 39 outdoor advertisement purchase orders of Vitasoy which worth totalling about $1.9 million to Why Creative. Chan’s girlfriend transferred 40 per cent of the profit totalling over $600,000 to Chan according to their agreement.The court also heard that Chan had approved to pay a monthly fee of $36,000 to a vendor without the authorisation of his supervisor, falsely claiming that that the inspections were arranged on Vitasoy’s outdoor advertisements.When being asked by Vitasoy to submit the relevant quotations of the three vendors, including Why Creative, and the inspection reports, Chan conspired with subordinates, including Keung, to forge 30 sets of quotation documents purportedly issued by four vendors for Vitasoy’s examination, so as to mislead the company that the procurements had complied with the relevant policy. Meanwhile, they fabricated 38 sets of outdoor advertisement inspection reports to mislead Vitasoy that inspections were completed by the relevant vendor.ICAC investigation revealed that the four vendors had never issued the quotations concerned and the relevant vendor had not conducted the inspections mentioned in the inspection reports.Vitasoy has rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by prosecuting counsel Sabrina See, assisted by ICAC officer Leo Fung. 09
Jun 2025Three months’ jail for foreman of airport expansion works subcontractor charged by ICAC for soliciting and accepting bribes from bar-bendersA foreman of a subcontractor of the Terminal 2 expansion works of the Hong Kong International Airport, charged by the ICAC, was today (June 9) sentenced to three months’ imprisonment at the West Kowloon Magistrates’ Courts for soliciting and accepting bribes totalling about $16,000 from three bar-benders for assisting them to continue their employment and assigning overtime work to one of them to earn extra payments.Ko Chun-yin, 31, then foreman of Ho Chau & Sons (HK) Engineering Limited (HCL), was sentenced to a jail term of three months and ordered to repay his then employer over $12,000 in restitution, equivalent to the amount of bribes involved in the present case.The defendant earlier pleaded guilty to two counts of agent soliciting an advantage and six counts of agent accepting an advantage, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance.In sentencing, Magistrate Mr Gary Chu Man-hon noted that the offences in the present case were serious in nature that they came as a blow to the local labour market, lowered workers’ morale and undermined Hong Kong’s clean reputation. The court had to send out a clear message to the public that the corrupt deserved severe punishment. The magistrate took a starting point of six months’ imprisonment and reduced the jail term of the defendant to three months having considered his guilty plea and immediate full restitution of the bribes concerned.The court heard that HCL was a subcontractor of the Terminal 2 expansion works of the Hong Kong International Airport at the material time. The defendant was a foreman of HCL responsible for leading a team of bar-benders and assigning work to them. Should workers be required to work overtime, they would be paid 1.5 to two times of the standard hourly rate. HCL prohibited its employees from soliciting or accepting any advantages from others in relation to its business and affairs.Between April 2022 and February 2023, the defendant had respectively solicited from three bar-benders bribes of $100 per working day or an unspecified amount of “tea money” for assisting them to continue their employment with HCL. During the period, the defendant had eventually accepted bribes totalling $6,800 from the trio.The defendant had also solicited from one of the bar-benders bribes of $200 per working day for arranging him to perform overtime work to earn extra payments.The bar-bender reluctantly paid bribes totalling about $6,000 to the defendant for his overtime work on 30 working days.The ICAC investigation stemmed from a corruption complaint. Enquiries revealed that the workers believed that the defendant had the authority to dismiss them. The trio reluctantly paid bribes to the defendant as they worried about losing their jobs. One of the workers was dismissed on the spot after he refused to pay a bribe of $3,000 solicited by the defendant.HCL rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by ICAC officer Moon Leung. 05
Jun 2025Ex-bank manager faces bribery charge laid by ICAC for accepting cryptocurrency worth US$470,000 for authenticating false instrumentsThe ICAC had earlier charged two former bank managers for allegedly conspiring with an employee of a fintech company to use various false standby letters of credit (L/Cs) and collateral letters. Pursuant to the further legal advice of the Department of Justice upon completion of investigation by the ICAC, an additional bribery charge was laid against one of the duo while the indictment in relation to the two counts of conspiracy to use false instruments were amended when the case was brought to the Eastern Magistrates’ Courts for mention today (June 5). The additional charge alleged that the defendant had accepted cryptocurrency worth over US$470,000 from the fintech company employee, a middleman and others for authenticating false instruments. The case will be transferred to the District Court.Lam Chun-yin, 30, former relationship manager of China Construction Bank (Asia) Corporation Limited (CCB (Asia)), was charged with an additional count of conspiracy for an agent to accept advantages, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance.Besides, Lam and Lee Ka-man, 34, former senior relationship manager of Standard Chartered Bank (Hong Kong) Limited (Standard Chartered HK), each faced one count of conspiracy to use false instruments, contrary to sections 73 and 159A of the Crimes Ordinance.No plea was taken today. Magistrate Madam Frances Leung adjourned the case to 21 August 2025 for mention. The prosecution will apply for transferring the case to the District Court for plea. The defendants were granted bail.The ICAC investigation stemmed from a corruption complaint and revealed the alleged offences which took place between April 2022 and July 2023. At the material time, Vesttoo Limited (Vesttoo) was an overseas fintech company operating a digital platform to facilitate insurance-linked securities transactions. Investors were required to provide standby L/Cs issued by banks or collateral letters endorsed by banks as a guarantee of payments.The bribery charge alleged that Lam had accepted bribes, namely Tether, a cryptocurrency, worth totalling over US$470,000, from an employee of Vesttoo Udi Ginati, a middleman Wan Cheuk-lun and others for authenticating standby L/Cs and collateral letters which were purportedly issued or endorsed by China Construction Bank Corporation (CCB). CCB had, in fact, never issued or endorsed those documents.The amended charges of conspiracy to use false instruments alleged that Lam had conspired together with the said Vesttoo employee, middleman and others to use 88 false standby L/Cs and two false collateral letters purportedly issued or endorsed by CCB, with the intention of inducing others to accept them as genuine. It was alleged that Lee had conspired together with others to use four false standby L/Cs purportedly issued by Standard Chartered HK with intent to induce others to accept them as genuine.CCB (Asia) and Standard Chartered HK rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by Acting Senior Public Prosecutor Douglas Lau, assisted by ICAC officer Ken Wong.