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Dec 2023Two months’ jail for ex-security guard of public housing estate offering ‘laisees’ to supervisor over duty arrangementA former security guard of a public housing estate, charged by the ICAC, was today (December 6) sentenced to two months imprisonment at the Kowloon City Magistrates’ Courts for offering “laisees” totalling $4,000 to her supervisor for arranging her to a post she preferred.Liang Jinlan, 49, former security guard of Nice Property Management Limited (Nice Property), earlier pleaded guilty to two counts of offering an advantage to an agent, contrary to Section 9(2)(b) of the Prevention of Bribery Ordinance.In sentencing, Acting Principal Magistrate Miss Veronica Heung Shuk-han remarked that a custodial sentence was inevitable as bribery was a serious offence and the defendant’s law-abiding awareness was weak.At the material time, Nice Property was engaged by the Housing Department (HD) to provide security services in Lok Fu Estate. Nice Property forbade its staff to offer or accept any advantages in relation to their duties.The court heard that the defendant was a morning shift security guard of the estate, her daily duty roster was prepared by a security supervisor. Between mid-November 2022 and late January 2023, which was after the birthday of the security supervisor and during Chinese New Year, the defendant offered two “laisees” totalling $4,000 to the security supervisor for arranging her to work at the reception of a building in Lok Fu Estate.The ICAC investigation arose from a corruption complaint referred by the HD. The department and Nice Property had rendered full assistance to the ICAC during its investigation into the case. The prosecution was today represented by ICAC officer Michael Lim.The security supervisor concerned was earlier charged by the ICAC with two counts of bribery. No plea was entered and her case was adjourned to January 10 next year for mention. 05
Dec 2023Ex-listed company chairman and two others charged by ICAC jailed for conspiracy to defraud over acquisition of NZ farms at second retrialA former listed company chairman and two others, charged by the ICAC, were today (December 5) sentenced to jail terms ranging from four years and nine months to seven years and nine months at the High Court after a jury convicted them at a second retrial. It was revealed in a corruption investigation that the trio had conspired together to deceive the Stock Exchange of Hong Kong (SEHK) and the listed company by concealing their interests in an acquisition of dairy farms in New Zealand at NZ$500 million and falsely representing the gross profit of the dairy farms.Chen Keen, 56, former executive director and joint-chairman of now de-listed Natural Dairy (NZ) Holdings Limited (NDNZ) and Hao May, formerly known as Wang May-yan, 61, owner and operator of UBNZ Trustee Limited (UBTL), were respectively jailed for seven years and three months and seven years and nine months. They were both disqualified from being company directors for six years and nine months. Yee Wenjye, 52, former vice-president of NDNZ, received a jail term of four years and nine months.In sentencing, Madam Justice Anna Lai Yuen-kee said Chen and Hao were masterminds and instigators of the scam, which had a grave impact on the general public and the stock market. Yee played a lesser role but he was willing to participate in the scam.Chen and Hao were earlier found guilty by a jury of four counts of conspiracy to defraud, while Yee was convicted of two counts of conspiracy to defraud.The three defendants were respectively charged by the ICAC in late 2011 and early 2012. In June 2016, they were sentenced to jail terms ranging from five years to eight years and three months after being convicted by a jury at the Court of First Instance of the High Court. Following the trio’s appeal, the court quashed their convictions and ordered a retrial. After the jury at the retrial was discharged in June 2021, a second retrial was set for July this year.An ICAC spokesperson notes that the ICAC does not tolerate corruption or any related offences. The Commission remains committed to tracking down the corrupt relentlessly so as to sustain Hong Kong’s status as a clean international financial centre.Before it was renamed in October 2009, NDNZ was formerly known as China Jin Hui Mining Corporation Limited (CJHM). At the material time, the company was listed on the Main Board of the SEHK and engaged in the trading of iron ore. Its listing was cancelled in November 2022.Chen joined CJHM as executive director and joint chairman in May 2009 while Yee later became its vice-president. Apart from being the owner and operator of UBTL, Hao also owned beneficial interests in its subsidiaries – UBNZ Assets Holdings Limited (UBAH) and UBNZ Funds Management Limited (UBFM).The court heard that between May and September 2009, Chen and Hao conspired together to defraud the SEHK. They falsely represented that UBTL, UBFM and their respective ultimate beneficial owners were independent third parties to CJHM. They also made a false representation that there was no existing or prior understanding between Chen and Hao with respect to the acquisition of the entire issued share capital and assets of UBAH, including UBAH’s completing the purchase of dairy farms owned by the CraFarms Group in New Zealand, by CJHM from UBTL.Meanwhile, Chen and Hao concealed that Chen had an interest in the acquisition. However, ICAC enquiries revealed that Chen and Hao were parties to an agreement signed with another company to share the commission arising from the sale and purchase of dairy farms owned by the CraFarms Group.The three defendants also falsely represented that the gross profit of the properties and fixed assets relating to dairy farms owned by the CraFarms Group for the 2008/2009 financial year was over HK$92 million.As a result, the SEHK was caused to allow CJHM to publish an announcement and a circular in relation to the acquisition which contained the false representations, the court heard.Between May 2009 and July 2010, the three defendants conspired together to deploy similar fraudulent means to deceive CJHM and its existing shareholders into approving the agreement for the acquisition, and to cause CJHM to issue and release convertible notes and an optional bond for the payment of the acquisition.The prosecution was today represented by prosecuting counsel Neil Mitchell, Senior Public Prosecutor Joycelyn Ng and barrister Martin Li, assisted by ICAC officers Fiona Wan, Gary Li, Jeffrey Chan and Stanley Cheung. 01
Dec 2023Ex-employee of publishing firm charged by ICAC jailed for 20 months over $380,000 service payments fraudA former employee of a publishing firm, charged by the ICAC with fraud and offences under the anti-bribery law, was today (December 1) sentenced to 20 months’ imprisonment at the District Court for deceiving the firm into making service payments totalling about $380,000 to various contractors by fabricating invoices in relation to the republication of books and the relocation works of the firm. The offences were revealed in the course of a corruption investigation by the Commission.Hung Cheung-wai, 49, former employee of Chinese Baptist Press (International) Limited (CBP), earlier pleaded guilty to eight charges – four of fraud, contrary to Section 16A of the Theft Ordinance; two of agent using document with intent to deceive his principal and two of conspiracy for agent to use document with intent to deceive his principal, contrary to Section 9(3) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance.In sentencing, Deputy District Judge Mr Newman Wong Hing-wai said the case involved offences which were serious in nature. The defendant had used various false invoices over a long period, constituting a breach of trust.The court heard that between February 2020 and June 2021, the defendant was an employee of CBP. He was responsible for arranging the production and republication of books, and placing printing and design orders with contractors.During the period, CBP records showed that there were 61 invoices in relation to 78 republished books which were issued to CBP by four contractors. The defendant falsely represented to CBP that the four contractors had completed the editing, typesetting, proofreading and design works of books. As a result, CBP made payments totalling about $340,000 to the four contractors.The court also heard that the defendant conspired with another contractor to use two sets of false invoices and payment request forms to mislead CBP that the contractor was entitled to service fees totalling $27,000 for completing the printing and typesetting works of three other books.At the material time, the defendant was also responsible for supervising CBP’s relocation works. He used two sets of false invoices to mislead CBP that one of the abovementioned contractors was entitled to service fees totalling $11,000 as it had conducted relocation works for CBP on two occasions.The ICAC investigation arose from a corruption complaint. Enquiries revealed that the five contractors did not conduct any republication or relocation works for CBP. The operators of four of the contractors were in fact a relative and three friends of the defendant.CBP had rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by Senior Public Prosecutor Joey Lin, assisted by ICAC officer Rita Li. 30
Nov 2023Ex-manager of HKDC charged by ICAC jailed for concealing husband’s conflict of interest in service contractsA former manager of Hong Kong Design Centre (HKDC), charged by the ICAC, was today (November 30) sentenced to 53 weeks’ imprisonment at the Eastern Magistrates’ Courts for deceiving the HKDC into engaging two vendors operated by her husband to provide marketing services in five projects sponsored by the government involving a total contract sum of about $400,000 by concealing her conflict of interest.Chiu Ka-wai, 43, former manager of partnerships & marketing communications of HKDC, was earlier found guilty of a total of five charges – four of fraud, contrary to section 16A(1) of the Theft Ordinance; and one of attempted fraud, contrary to section 16A(1) of the Theft Ordinance and section 159G of the Crimes Ordinance.In sentencing, Magistrate Mr Jeffrey Sze Cho-yiu said the present case involved offences of serious nature which lasted a long period. The misdeeds of the defendant not only dealt a blow to the declaration system of the HKDC, but had also shaken public confidence in the organisation.The ICAC reminds staff of business organisations 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 ICAC recommends business organisations to establish clear guidelines and systems of declaration on conflict of interest with which employees should strictly comply.The court heard that HKDC was a publicly-funded agency which promoted creative and design thinking in Hong Kong. It required all staff to declare any financial interests of themselves or their family members in any company or organisation which had business dealings with HKDC.When the offences took place between March 2019 and June 2020, the defendant was responsible for the marketing and promotion of two programmes sponsored by public funds, namely Knowledge of Design Week and Business of Design Week. She recommended Party in Haze (PIH) and 3T6B Limited (3T6B) to provide services to HKDC in four marketing projects and one website revamp project, worth a total of about $400,000 under the two programmes.The ICAC investigation arose from a corruption complaint. Enquiries revealed that PIH was registered by the defendant’s elder brother; while her husband was the major shareholder cum director of 3T6B. Both vendors were in fact operated by the defendant’s husband.The court heard that at the material time, the defendant submitted to HKDC two annual conflict of interest declaration forms and five procurement application forms, in which she concealed the direct or indirect financial interest of her husband in PIH and 3T6B.ICAC enquiries also revealed that PIH or 3T6B were either the only bidder or the company offering the lowest bid in the five projects. Four of the projects were awarded to the two vendors, while the remaining project was not awarded due to its cancellation. Had HKDC known that the defendant’s husband had direct or indirect financial interests in the two vendors, it would not have engaged the two companies to provide services.HKDC 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 Nick Lai. 30
Nov 2023Ex-listed company chairman and two others charged by ICAC guilty of conspiracy to defraud over acquisition of NZ farms at second retrialA former listed company chairman and two others were earlier charged by the ICAC after it was revealed in a corruption investigation that the trio had conspired together to deceive the Stock Exchange of Hong Kong (SEHK) and the listed company by concealing their interests in an acquisition of dairy farms in New Zealand at NZ$500 million and falsely representing the gross profit of the dairy farms. A jury at the High Court today (November 30) convicted the trio of the offences at a second retrial.The defendants were Chen Keen, 56, former executive director and joint-chairman of now de-listed Natural Dairy (NZ) Holdings Limited (NDNZ); Yee Wenjye, 52, former vice-president of NDNZ; and Hao May, formerly known as Wang May-yan, 61, owner and operator of UBNZ Trustee Limited (UBTL).After retiring for deliberation for one day, the jury found Chen and Hao guilty of four counts of conspiracy to defraud, while Yee was guilty of two counts of conspiracy to defraud.Madam Justice Anna Lai Yuen-kee adjourned the case to tomorrow (December 1) for mitigation. The defendants were remanded in the custody of the Correctional Services Department.The three defendants were respectively charged by the ICAC in late 2011 and early 2012. In June 2016, they were sentenced to jail terms ranging from five years to eight years and three months after being convicted by a jury at the Court of First Instance of the High Court. Following the trio’s appeal, the court quashed their convictions and ordered a retrial. After the jury at the retrial was discharged in June 2021, a second retrial was set for July this year.An ICAC spokesperson notes that the ICAC does not tolerate corruption or any related offences. The Commission remains committed to tracking down the corrupt relentlessly so as to sustain Hong Kong’s status as a clean international financial centre.Before it was renamed in October 2009, NDNZ was formerly known as China Jin Hui Mining Corporation Limited (CJHM). At the material time, the company was listed on the Main Board of the SEHK and engaged in the trading of iron ore. Its listing was cancelled in November 2022.Chen joined CJHM as executive director and joint chairman in May 2009 while Yee later became its vice-president. Apart from being the owner and operator of UBTL, Hao also owned beneficial interests in its subsidiaries – UBNZ Assets Holdings Limited (UBAH) and UBNZ Funds Management Limited (UBFM).The court heard that between May and September 2009, Chen and Hao conspired together to defraud the SEHK. They falsely represented that UBTL, UBFM and their respective ultimate beneficial owners were independent third parties to CJHM. They also made a false representation that there was no existing or prior understanding between Chen and Hao with respect to the acquisition of the entire issued share capital and assets of UBAH, including UBAH’s completing the purchase of dairy farms owned by the CraFarms Group in New Zealand, by CJHM from UBTL.Meanwhile, Chen and Hao concealed that Chen had an interest in the acquisition. However, ICAC enquiries revealed that Chen and Hao were parties to an agreement signed with another company to share the commission arising from the sale and purchase of dairy farms owned by the CraFarms Group.The three defendants also falsely represented that the gross profit of the properties and fixed assets relating to dairy farms owned by the CraFarms Group for the 2008/2009 financial year was over HK$92 million.As a result, the SEHK was caused to allow CJHM to publish an announcement and a circular in relation to the acquisition which contained the false representations, the court heard.Between May 2009 and July 2010, the three defendants conspired together to deploy similar fraudulent means to deceive CJHM and its existing shareholders into approving the agreement for the acquisition, and to cause CJHM to issue and release convertible notes and an optional bond for the payment of the acquisition.The prosecution was today represented by prosecuting counsel Neil Mitchell, Senior Public Prosecutor Joycelyn Ng and barrister Martin Li, assisted by ICAC officers Fiona Wan, Gary Li, Jeffrey Chan and Stanley Cheung.
Dec 2023Two months’ jail for ex-security guard of public housing estate offering ‘laisees’ to supervisor over duty arrangementA former security guard of a public housing estate, charged by the ICAC, was today (December 6) sentenced to two months imprisonment at the Kowloon City Magistrates’ Courts for offering “laisees” totalling $4,000 to her supervisor for arranging her to a post she preferred.Liang Jinlan, 49, former security guard of Nice Property Management Limited (Nice Property), earlier pleaded guilty to two counts of offering an advantage to an agent, contrary to Section 9(2)(b) of the Prevention of Bribery Ordinance.In sentencing, Acting Principal Magistrate Miss Veronica Heung Shuk-han remarked that a custodial sentence was inevitable as bribery was a serious offence and the defendant’s law-abiding awareness was weak.At the material time, Nice Property was engaged by the Housing Department (HD) to provide security services in Lok Fu Estate. Nice Property forbade its staff to offer or accept any advantages in relation to their duties.The court heard that the defendant was a morning shift security guard of the estate, her daily duty roster was prepared by a security supervisor. Between mid-November 2022 and late January 2023, which was after the birthday of the security supervisor and during Chinese New Year, the defendant offered two “laisees” totalling $4,000 to the security supervisor for arranging her to work at the reception of a building in Lok Fu Estate.The ICAC investigation arose from a corruption complaint referred by the HD. The department and Nice Property had rendered full assistance to the ICAC during its investigation into the case. The prosecution was today represented by ICAC officer Michael Lim.The security supervisor concerned was earlier charged by the ICAC with two counts of bribery. No plea was entered and her case was adjourned to January 10 next year for mention. 05
Dec 2023Ex-listed company chairman and two others charged by ICAC jailed for conspiracy to defraud over acquisition of NZ farms at second retrialA former listed company chairman and two others, charged by the ICAC, were today (December 5) sentenced to jail terms ranging from four years and nine months to seven years and nine months at the High Court after a jury convicted them at a second retrial. It was revealed in a corruption investigation that the trio had conspired together to deceive the Stock Exchange of Hong Kong (SEHK) and the listed company by concealing their interests in an acquisition of dairy farms in New Zealand at NZ$500 million and falsely representing the gross profit of the dairy farms.Chen Keen, 56, former executive director and joint-chairman of now de-listed Natural Dairy (NZ) Holdings Limited (NDNZ) and Hao May, formerly known as Wang May-yan, 61, owner and operator of UBNZ Trustee Limited (UBTL), were respectively jailed for seven years and three months and seven years and nine months. They were both disqualified from being company directors for six years and nine months. Yee Wenjye, 52, former vice-president of NDNZ, received a jail term of four years and nine months.In sentencing, Madam Justice Anna Lai Yuen-kee said Chen and Hao were masterminds and instigators of the scam, which had a grave impact on the general public and the stock market. Yee played a lesser role but he was willing to participate in the scam.Chen and Hao were earlier found guilty by a jury of four counts of conspiracy to defraud, while Yee was convicted of two counts of conspiracy to defraud.The three defendants were respectively charged by the ICAC in late 2011 and early 2012. In June 2016, they were sentenced to jail terms ranging from five years to eight years and three months after being convicted by a jury at the Court of First Instance of the High Court. Following the trio’s appeal, the court quashed their convictions and ordered a retrial. After the jury at the retrial was discharged in June 2021, a second retrial was set for July this year.An ICAC spokesperson notes that the ICAC does not tolerate corruption or any related offences. The Commission remains committed to tracking down the corrupt relentlessly so as to sustain Hong Kong’s status as a clean international financial centre.Before it was renamed in October 2009, NDNZ was formerly known as China Jin Hui Mining Corporation Limited (CJHM). At the material time, the company was listed on the Main Board of the SEHK and engaged in the trading of iron ore. Its listing was cancelled in November 2022.Chen joined CJHM as executive director and joint chairman in May 2009 while Yee later became its vice-president. Apart from being the owner and operator of UBTL, Hao also owned beneficial interests in its subsidiaries – UBNZ Assets Holdings Limited (UBAH) and UBNZ Funds Management Limited (UBFM).The court heard that between May and September 2009, Chen and Hao conspired together to defraud the SEHK. They falsely represented that UBTL, UBFM and their respective ultimate beneficial owners were independent third parties to CJHM. They also made a false representation that there was no existing or prior understanding between Chen and Hao with respect to the acquisition of the entire issued share capital and assets of UBAH, including UBAH’s completing the purchase of dairy farms owned by the CraFarms Group in New Zealand, by CJHM from UBTL.Meanwhile, Chen and Hao concealed that Chen had an interest in the acquisition. However, ICAC enquiries revealed that Chen and Hao were parties to an agreement signed with another company to share the commission arising from the sale and purchase of dairy farms owned by the CraFarms Group.The three defendants also falsely represented that the gross profit of the properties and fixed assets relating to dairy farms owned by the CraFarms Group for the 2008/2009 financial year was over HK$92 million.As a result, the SEHK was caused to allow CJHM to publish an announcement and a circular in relation to the acquisition which contained the false representations, the court heard.Between May 2009 and July 2010, the three defendants conspired together to deploy similar fraudulent means to deceive CJHM and its existing shareholders into approving the agreement for the acquisition, and to cause CJHM to issue and release convertible notes and an optional bond for the payment of the acquisition.The prosecution was today represented by prosecuting counsel Neil Mitchell, Senior Public Prosecutor Joycelyn Ng and barrister Martin Li, assisted by ICAC officers Fiona Wan, Gary Li, Jeffrey Chan and Stanley Cheung. 01
Dec 2023Ex-employee of publishing firm charged by ICAC jailed for 20 months over $380,000 service payments fraudA former employee of a publishing firm, charged by the ICAC with fraud and offences under the anti-bribery law, was today (December 1) sentenced to 20 months’ imprisonment at the District Court for deceiving the firm into making service payments totalling about $380,000 to various contractors by fabricating invoices in relation to the republication of books and the relocation works of the firm. The offences were revealed in the course of a corruption investigation by the Commission.Hung Cheung-wai, 49, former employee of Chinese Baptist Press (International) Limited (CBP), earlier pleaded guilty to eight charges – four of fraud, contrary to Section 16A of the Theft Ordinance; two of agent using document with intent to deceive his principal and two of conspiracy for agent to use document with intent to deceive his principal, contrary to Section 9(3) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance.In sentencing, Deputy District Judge Mr Newman Wong Hing-wai said the case involved offences which were serious in nature. The defendant had used various false invoices over a long period, constituting a breach of trust.The court heard that between February 2020 and June 2021, the defendant was an employee of CBP. He was responsible for arranging the production and republication of books, and placing printing and design orders with contractors.During the period, CBP records showed that there were 61 invoices in relation to 78 republished books which were issued to CBP by four contractors. The defendant falsely represented to CBP that the four contractors had completed the editing, typesetting, proofreading and design works of books. As a result, CBP made payments totalling about $340,000 to the four contractors.The court also heard that the defendant conspired with another contractor to use two sets of false invoices and payment request forms to mislead CBP that the contractor was entitled to service fees totalling $27,000 for completing the printing and typesetting works of three other books.At the material time, the defendant was also responsible for supervising CBP’s relocation works. He used two sets of false invoices to mislead CBP that one of the abovementioned contractors was entitled to service fees totalling $11,000 as it had conducted relocation works for CBP on two occasions.The ICAC investigation arose from a corruption complaint. Enquiries revealed that the five contractors did not conduct any republication or relocation works for CBP. The operators of four of the contractors were in fact a relative and three friends of the defendant.CBP had rendered full assistance to the ICAC during its investigation into the case.The prosecution was today represented by Senior Public Prosecutor Joey Lin, assisted by ICAC officer Rita Li. 30
Nov 2023Ex-manager of HKDC charged by ICAC jailed for concealing husband’s conflict of interest in service contractsA former manager of Hong Kong Design Centre (HKDC), charged by the ICAC, was today (November 30) sentenced to 53 weeks’ imprisonment at the Eastern Magistrates’ Courts for deceiving the HKDC into engaging two vendors operated by her husband to provide marketing services in five projects sponsored by the government involving a total contract sum of about $400,000 by concealing her conflict of interest.Chiu Ka-wai, 43, former manager of partnerships & marketing communications of HKDC, was earlier found guilty of a total of five charges – four of fraud, contrary to section 16A(1) of the Theft Ordinance; and one of attempted fraud, contrary to section 16A(1) of the Theft Ordinance and section 159G of the Crimes Ordinance.In sentencing, Magistrate Mr Jeffrey Sze Cho-yiu said the present case involved offences of serious nature which lasted a long period. The misdeeds of the defendant not only dealt a blow to the declaration system of the HKDC, but had also shaken public confidence in the organisation.The ICAC reminds staff of business organisations 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 ICAC recommends business organisations to establish clear guidelines and systems of declaration on conflict of interest with which employees should strictly comply.The court heard that HKDC was a publicly-funded agency which promoted creative and design thinking in Hong Kong. It required all staff to declare any financial interests of themselves or their family members in any company or organisation which had business dealings with HKDC.When the offences took place between March 2019 and June 2020, the defendant was responsible for the marketing and promotion of two programmes sponsored by public funds, namely Knowledge of Design Week and Business of Design Week. She recommended Party in Haze (PIH) and 3T6B Limited (3T6B) to provide services to HKDC in four marketing projects and one website revamp project, worth a total of about $400,000 under the two programmes.The ICAC investigation arose from a corruption complaint. Enquiries revealed that PIH was registered by the defendant’s elder brother; while her husband was the major shareholder cum director of 3T6B. Both vendors were in fact operated by the defendant’s husband.The court heard that at the material time, the defendant submitted to HKDC two annual conflict of interest declaration forms and five procurement application forms, in which she concealed the direct or indirect financial interest of her husband in PIH and 3T6B.ICAC enquiries also revealed that PIH or 3T6B were either the only bidder or the company offering the lowest bid in the five projects. Four of the projects were awarded to the two vendors, while the remaining project was not awarded due to its cancellation. Had HKDC known that the defendant’s husband had direct or indirect financial interests in the two vendors, it would not have engaged the two companies to provide services.HKDC 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 Nick Lai. 30
Nov 2023Ex-listed company chairman and two others charged by ICAC guilty of conspiracy to defraud over acquisition of NZ farms at second retrialA former listed company chairman and two others were earlier charged by the ICAC after it was revealed in a corruption investigation that the trio had conspired together to deceive the Stock Exchange of Hong Kong (SEHK) and the listed company by concealing their interests in an acquisition of dairy farms in New Zealand at NZ$500 million and falsely representing the gross profit of the dairy farms. A jury at the High Court today (November 30) convicted the trio of the offences at a second retrial.The defendants were Chen Keen, 56, former executive director and joint-chairman of now de-listed Natural Dairy (NZ) Holdings Limited (NDNZ); Yee Wenjye, 52, former vice-president of NDNZ; and Hao May, formerly known as Wang May-yan, 61, owner and operator of UBNZ Trustee Limited (UBTL).After retiring for deliberation for one day, the jury found Chen and Hao guilty of four counts of conspiracy to defraud, while Yee was guilty of two counts of conspiracy to defraud.Madam Justice Anna Lai Yuen-kee adjourned the case to tomorrow (December 1) for mitigation. The defendants were remanded in the custody of the Correctional Services Department.The three defendants were respectively charged by the ICAC in late 2011 and early 2012. In June 2016, they were sentenced to jail terms ranging from five years to eight years and three months after being convicted by a jury at the Court of First Instance of the High Court. Following the trio’s appeal, the court quashed their convictions and ordered a retrial. After the jury at the retrial was discharged in June 2021, a second retrial was set for July this year.An ICAC spokesperson notes that the ICAC does not tolerate corruption or any related offences. The Commission remains committed to tracking down the corrupt relentlessly so as to sustain Hong Kong’s status as a clean international financial centre.Before it was renamed in October 2009, NDNZ was formerly known as China Jin Hui Mining Corporation Limited (CJHM). At the material time, the company was listed on the Main Board of the SEHK and engaged in the trading of iron ore. Its listing was cancelled in November 2022.Chen joined CJHM as executive director and joint chairman in May 2009 while Yee later became its vice-president. Apart from being the owner and operator of UBTL, Hao also owned beneficial interests in its subsidiaries – UBNZ Assets Holdings Limited (UBAH) and UBNZ Funds Management Limited (UBFM).The court heard that between May and September 2009, Chen and Hao conspired together to defraud the SEHK. They falsely represented that UBTL, UBFM and their respective ultimate beneficial owners were independent third parties to CJHM. They also made a false representation that there was no existing or prior understanding between Chen and Hao with respect to the acquisition of the entire issued share capital and assets of UBAH, including UBAH’s completing the purchase of dairy farms owned by the CraFarms Group in New Zealand, by CJHM from UBTL.Meanwhile, Chen and Hao concealed that Chen had an interest in the acquisition. However, ICAC enquiries revealed that Chen and Hao were parties to an agreement signed with another company to share the commission arising from the sale and purchase of dairy farms owned by the CraFarms Group.The three defendants also falsely represented that the gross profit of the properties and fixed assets relating to dairy farms owned by the CraFarms Group for the 2008/2009 financial year was over HK$92 million.As a result, the SEHK was caused to allow CJHM to publish an announcement and a circular in relation to the acquisition which contained the false representations, the court heard.Between May 2009 and July 2010, the three defendants conspired together to deploy similar fraudulent means to deceive CJHM and its existing shareholders into approving the agreement for the acquisition, and to cause CJHM to issue and release convertible notes and an optional bond for the payment of the acquisition.The prosecution was today represented by prosecuting counsel Neil Mitchell, Senior Public Prosecutor Joycelyn Ng and barrister Martin Li, assisted by ICAC officers Fiona Wan, Gary Li, Jeffrey Chan and Stanley Cheung.