|
. | . |
|
by Staff Writers Hong Kong (AFP) June 05, 2014
A prosecutor told a corruption trial Thursday that Hong Kong property tycoons Thomas and Raymond Kwok bribed a high-ranking official to be their "eyes and ears" in the government. The billionaire brothers, who jointly chair development giant Sun Hung Kai Properties, were arrested along with former chief secretary Rafael Hui in a major swoop by graft investigators two years ago. David Perry, opening for the prosecution, said the Kwoks, aged 62 and 60, made "secret payments" to Hui, who held the second-highest position in Hong Kong's government from June 2005 to June 2007. Hui, who was later on the city's top advisory body the Executive Council, is accused of misconduct in office involving bribes amounting to HK$34 million ($4.38 million). Perry said the payments had been made through a series of "complicated" transactions involving middlemen. One payment, amounting to HK$8.5 million, was made to Hui in the four days leading up to his appointment as the city's Chief Secretary for Administration in 2005, Perry said. Another payment, totalling about HK$11 million, was transferred in 2007 in small segments through a series of transactions, involving 10 accounts and an offshore company in Singapore, Perry added. "Why would such successful businessmen pay millions of dollars in that way to a man to be appointed to office of chief secretary and who was a member of executive council?" Perry asked. "It was a bribe," he told the nine-member jury panel. Hui also faces charges over the rent-free use of luxury apartments and acceptance of unsecured loans. Other defendants in the blockbuster trial are Sun Hung Kai director Thomas Chan, and Francis Kwan, the former non-executive director of investment company New Environmental Energy Holdings. All five have pleaded not guilty. Perry said Hui had given Hong Kong an impression that he was an "independent and impartial" public servant. "But he was not," he added, alleging the payments given to Hui were aimed at making him the Kwok's "eyes and ears" in the government to their benefit. The case has shocked Hong Kong, where Sun Hung Kai is the biggest property developer by market capitalisation and owns some of the city's most recognisable real estate including the 118-floor International Commerce Centre. The Kwoks were arrested in March 2012 and the High Court trial is expected to last four months.
Related Links Global Trade News
|
|
The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service. |