An ICAC corruption investigation revealed that an illegal syndicate, with the assistance of bank staff in signing and issuing false bank documents, deceived Japanese investors into investing over JPY400 million (about HK$28.4 million at the material time) in various companies that falsely claimed to be undertaking investment projects in Africa by asserting that their bank accounts held assets totalling over HK$37 billion. The five defendants had either entered guilty pleas or been convicted after trial. Of them, two then bank managers were sentenced today (August 6) at the District Court to three years’ imprisonment.

Woo Man-ho, 38; and Chan Tak-ching, 39, both then relationship managers of Standard Chartered Bank (Hong Kong) Limited (Standard Chartered Bank), were each sentenced to three years’ imprisonment. They earlier pleaded guilty to a total of four counts of conspiracy to defraud, contrary to the Common Law.

In sentencing, Judge Mr Clement Lee Hing-nin remarked that the defendants premeditated the crimes, seriously breached trust, and undermined investor confidence in the bank. The judge added that the offences, which spanned over one and a half years and involved numerous victims and over HK$28 million in fraud, warranted deterrent sentences. The scam would likely have continued, had it not been exposed.

The judge took a starting point of six years’ imprisonment and reduced the duo’s jail terms to three years each, considering their guilty pleas and assistance rendered to the prosecution.

Leung Ho-yin, 40, another then relationship manager of Standard Chartered Bank; and Law Man-fai, 52, self-employed financial consultant, earlier pleaded guilty to a total of three counts of conspiracy to defraud. Co-defendant Catherine Kum Kit-ching, 58, manager of ADF Capital Limited (ADF), was earlier found guilty after trial of one count of conspiracy to deal with property known or believed to represent proceeds of indictable offence (commonly known as money laundering), contrary to section 25(1) of the Organized and Serious Crimes Ordinance and section 159A of the Crimes Ordinance. The trio are remanded until September 30 for sentence.

The ICAC investigation arose from a corruption complaint. At the material time, Woo, Chan and Leung were working at Standard Chartered Bank’s business banking department and priority banking department, respectively. At that time, Law was a self-employed financial consultant, while Kum was a manager of investment company ADF.

The court heard that between January 2015 and September 2016, Woo, Chan, Leung and Law conspired with four foreign nationals to use false proof of fund letters and corporate refund promissory notes to deceive various Japanese investors into making investments totalling over JPY400 million in ADF and several other companies.

The four defendants used the false documents, signed by Woo and Chan and purportedly issued by Standard Chartered Bank, to falsely claim that Standard Chartered Bank was the guarantor of ADF which undertook to pay about HK$450 million, and that the foreign nationals involved in the case had substantial funds totalling over HK$37 billion available for investments in Africa.

The four foreign nationals included two shareholders-cum-directors of ADF, specifically a Zambian man and a Korean man; a Thai man who was Chan’s client; and a Japanese woman who was the chief executive officer of a company.

Meanwhile, Kum conspired with the Zambian man and the Korean man to use a bank account to launder crime proceeds totalling about HK$55 million, representing the sum handled by the four co-defendants in the scam.

The ICAC enquiries revealed that Standard Chartered Bank had never held the assets concerned on behalf of the foreign nationals.

Standard Chartered Bank 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 officer Krystie Cheng.

Three people, including a then bank employee and an intermediary, were charged by the ICAC yesterday (August 4) for allegedly accepting and offering bribes totalling $29,000 for assisting clients of the intermediary to open bank accounts.

Cheng Hoi-ying, 31, then universal banker of The Hongkong and Shanghai Banking Corporation Limited (HSBC); Lin Po-hsien, 27, intermediary; and Cheng Ka-yiu, 35, a friend of Cheng Hoi-ying, jointly face one count of conspiracy to offer 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.

Cheng Hoi-ying also faces four counts of agent accepting an advantage, contrary to section 9(1)(a) of the POBO, while Lin faces one count of offering advantages to an agent, contrary to section 9(2)(a) of the POBO.

The trio was released on ICAC bail, pending their appearance at the Eastern Magistrates’ Courts tomorrow (August 6) for plea.

At the material time, Cheng Hoi-ying was posted to a branch of HSBC in Sheung Wan. Lin, who worked as an intermediary, would arrange his clients to purchase insurance products from a broker firm and open bank accounts for settling insurance premiums.

The charges allege that between May and October 2024, the three defendants accepted and offered bribes for Cheng Hoi-ying to process bank account applications for clients referred by Lin. The trio is suspected of conspiring to offer a bribe of $13,000 to Cheng Hoi-ying while Cheng Hoi-ying allegedly accepted four sums totalling $16,000 from Lin. Meanwhile, Lin allegedly offered between $300 and $600 to Cheng Hoi-ying for each client he referred to her.

HSBC found several suspicious account opening applications handled by Cheng Hoi-ying in an internal investigation, and suspected that she had not fully fulfilled the bank’s due diligence requirements. Subsequently, the ICAC received a corruption complaint, and its investigation revealed the corrupt dealings of the three defendants.

HSBC rendered full assistance to the ICAC during its investigation into the case.
 

Three then bank employees were charged by the ICAC yesterday (July 29) for allegedly accepting bribes to assist customers referred by an insurance agent in opening bank accounts without joining the queue.

Chan Fu-kwan, 32; Mike Chan Wai-pak, 29; and Bernie Yau Kai-lung, 33, all then relationship managers of The Hongkong and Shanghai Banking Corporation Limited (HSBC), face a total of six bribery charges – five of conspiracy for an agent to accept advantages and one of agent accepting advantages, contrary to section 9(1)(a) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance.

The three defendants were released on bail while their case is scheduled for plea at the Eastern Magistrates’ Courts tomorrow (July 31).

At the time of the offences, all three defendants worked at the same branch in Causeway Bay. Their duties included arranging colleagues tasked with processing bank account opening applications to serve customers queuing up at the branch. The trio were not authorised to handle account opening applications themselves.

The charges allege that in 2024, Chan Fu-kwan accepted bribes from an insurance agent, amounting to between $1,000 and $1,200 per customer referred, to facilitate the opening of bank accounts for those customers. It is also alleged that Chan Fu-kwan referred some customers to three HSBC relationship managers, including Mike Chan Wai-pak and Bernie Yau Kai-lung, for assistance in account opening, and offered bribes ranging from $300 to $500 per customer referred to them.

ICAC enquiries revealed that Chan Fu-kwan allegedly accepted over $35,000 in bribes to arrange for customers referred by the insurance agent to undergo bank account opening procedures without queueing up at the branch. He requested assistance from the trio including Mike Chan Wai-pak and Bernie Yau Kai-lung, when he could not handle those customers himself.

The ICAC investigation further revealed that in February 2026, Mike Chan Wai-pak allegedly placed bets totally over $120,000 with a bookmaker via an online platform. He was also charged yesterday with one count of betting with a bookmaker, contrary to section 8 of the Gambling Ordinance.

HSBC rendered full assistance to the ICAC during its investigation into the case.