Father of then listed company deputy general manager charged by ICAC for role in AUD$25m bribery in overseas property project investments
The ICAC earlier charged a then deputy general manager of a listed company and his mother with bribery for showing favour to an Australian businessman regarding the listed company’s investments in overseas property development projects. Following further investigation by the Commission and legal advice from the Department of Justice, the father of the then deputy general manager was charged for his role in the corruption scheme involving bribes amounting to about AUD$25 million.
Ng Cho-wong, 77, was charged last Thursday (May 28) with two counts of conspiracy for an agent to accept advantage, contrary to section 9(1)(b) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance. He was released on ICAC bail, pending his appearance at the Eastern Magistrates’ Courts for mention on Wednesday (June 3).
Ng Wai, 46, Ng Cho-wong’s son and then deputy general manager of Beijing Capital Land Limited (BCL, delisted); and Han Shang-min, 75, Ng Cho-wong’s wife, were earlier jointly charged by the ICAC with one count of conspiracy for an agent to accept advantage. Their case was scheduled for mention on Wednesday at the Eastern Magistrates’ Courts.
BCL was listed on the Hong Kong Exchanges and Clearing Limited from June 2003 to September 2021. At the material time, Ng Cho-wong’s son, Ng Wai, served as the deputy general manager of BCL, and also as the general manager of BCL’s branch in Australia.
The two charges against Ng Cho-wong allege that he conspired with Ng Wai and Han Shang-min between June 2014 and November 2021 to accept bribes totalling AUD$22 million and an investment opportunity contract, making a profit of about AUD$3 million, from an Australian businessman for Ng Wai to show favour to the Australian businessman and his associated companies in relation to BCL’s business.
The ICAC investigation arose from a corruption complaint. Enquiries revealed that following Ng Wai’s recommendations, BCL invested in various property development projects in Australia worth approximately AUD$820 million in total since 2014. Most of these projects were developed by companies associated with the Australian businessman.
The ICAC earlier charged a then deputy general manager of a listed company and his mother with bribery for showing favour to an Australian businessman regarding the listed company’s investments in overseas property development projects. Following further investigation by the Commission and legal advice from the Department of Justice, the father of the then deputy general manager was charged for his role in the corruption scheme involving bribes amounting to about AUD$25 million.
Ng Cho-wong, 77, was charged last Thursday (May 28) with two counts of conspiracy for an agent to accept advantage, contrary to section 9(1)(b) of the Prevention of Bribery Ordinance and section 159A of the Crimes Ordinance. He was released on ICAC bail, pending his appearance at the Eastern Magistrates’ Courts for mention on Wednesday (June 3).
Ng Wai, 46, Ng Cho-wong’s son and then deputy general manager of Beijing Capital Land Limited (BCL, delisted); and Han Shang-min, 75, Ng Cho-wong’s wife, were earlier jointly charged by the ICAC with one count of conspiracy for an agent to accept advantage. Their case was scheduled for mention on Wednesday at the Eastern Magistrates’ Courts.
BCL was listed on the Hong Kong Exchanges and Clearing Limited from June 2003 to September 2021. At the material time, Ng Cho-wong’s son, Ng Wai, served as the deputy general manager of BCL, and also as the general manager of BCL’s branch in Australia.
The two charges against Ng Cho-wong allege that he conspired with Ng Wai and Han Shang-min between June 2014 and November 2021 to accept bribes totalling AUD$22 million and an investment opportunity contract, making a profit of about AUD$3 million, from an Australian businessman for Ng Wai to show favour to the Australian businessman and his associated companies in relation to BCL’s business.
The ICAC investigation arose from a corruption complaint. Enquiries revealed that following Ng Wai’s recommendations, BCL invested in various property development projects in Australia worth approximately AUD$820 million in total since 2014. Most of these projects were developed by companies associated with the Australian businessman.
Reference URL: https://www.icac.org.hk/en/p/press/index_id_2323.html
Source industry: Listing companies
