5 Charged with conspiracy to defraud
Info - Prod Research (Middle East). Ramat-Gan: Jan 18, 2006. pg. 1
Info - Prod Research (Middle East). Ramat-Gan: Jan 18, 2006. pg. 1
Abstract (Summary)
According to news.gov.hk: Four men and a woman in connection with a false accounting case involving an ex-listed company have been charged with conspiracy to defraud. They will appear in Eastern Magistrates' Courts this afternoon. Among the five, two men, aged53 and 51, were the company's chairman and deputy chairman.
According to news.gov.hk: Four men and a woman in connection with a false accounting case involving an ex-listed company have been charged with conspiracy to defraud. They will appear in Eastern Magistrates' Courts this afternoon. Among the five, two men, aged53 and 51, were the company's chairman and deputy chairman. In January 2001, through a series of bank transactions, the pair fraudulently generated a $100 million loan from them to the subject company. They thenreceived the repayment of the said loans purportedly financed to the subject company,in$55 million cashand $45 million worth of ordinary sharesissued by the subject company. Among the other arrestees, a 47-year-old man wasa director of the subject company at the time whilea40-year-old man and 44-year-old woman were allegedly involved in the fund circulations. The case was referred to the Commercial Crime Bureau in June 2003 and Police officers arrested the five people in May last year.
According to news.gov.hk: Four men and a woman in connection with a false accounting case involving an ex-listed company have been charged with conspiracy to defraud. They will appear in Eastern Magistrates' Courts this afternoon. Among the five, two men, aged53 and 51, were the company's chairman and deputy chairman. In January 2001, through a series of bank transactions, the pair fraudulently generated a $100 million loan from them to the subject company. They thenreceived the repayment of the said loans purportedly financed to the subject company,in$55 million cashand $45 million worth of ordinary sharesissued by the subject company. Among the other arrestees, a 47-year-old man wasa director of the subject company at the time whilea40-year-old man and 44-year-old woman were allegedly involved in the fund circulations. The case was referred to the Commercial Crime Bureau in June 2003 and Police officers arrested the five people in May last year.
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