Legal

Hong Kong Court Jails Real Estate Tycoon, Others, In High-Level Corruption Case

Tom Burroughes Group Editor December 24, 2014

Hong Kong Court Jails Real Estate Tycoon, Others, In High-Level Corruption Case

One of the highest-profile bribery cases in Asia came to an end this week with the sentencing of billionaire Thomas Kwok to five years in jail and a fine of HK$500,000 for conspiring to corrupt a top official in Hong Kong. Jail terms were also handed down on three others involved in the case, while Kwok’s younger brother, Raymond, was acquitted on all counts.

One of the highest-profile bribery cases in Asia came to an end this week with the sentencing of billionaire Thomas Kwok to five years in jail and a fine of HK$500,000 for conspiring to corrupt a top official in Hong Kong. Jail terms were also handed down on three others involved in the case, while Kwok’s younger brother, Raymond, was acquitted on all counts.

Kwok is the former co-chairman of Sun Hung Kai Properties. Separately, Rafael Hui, Hong Kong’s chief secretary from 2005 to 2007, was sentenced to seven-and-a-half  years for five charges including taking HK$8.5 million from Kwok. Thomas Chan, a former executive director of the company, was jailed for six years while Francis Kwan was jailed for five years, Bloomberg reported.

The largest bribery case in Hong Kong’s history ended when the jury convicted the four men. Kwok stepped down from the firm he had led with his younger brother, Raymond Kwok.

Raymond Kwok was acquitted of all four charges against him and continues as the sole chairman of Sun Hung Kai.

“It is vitally important in these times that the Hong Kong government and business community remain and are seen to remain corruption-free,” High Court Judge Andrew Macrae was quoted saying as he sentenced the four individuals. He added that the need for punishment was particularly acute as Mainland China is taking a tougher line on corruption.

Thomas Kwok was also disqualified for five years as a company director. He and Chan agreed to pay HK$12.5 million each toward the prosecution’s costs. Hui, who is bankrupt, was ordered to pay the government HK$11.2 million of bribes he took under one of the charges.

 

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