Filed Under (Need Truth) by admin on 27-05-2012
Tagged Under : International
Hong Kong billionaire Joseph Lau will face bribery and money laundering charges in Macau after his lawyers failed at a hearing to have them dropped, according to a statement at the Hong Kong Stock Exchange last night. (See statement here.)
Lau, who chairs Hong Kong-listed real estate developer Chinese Estates, ?ranked No. 5 on the 2012 Forbes Hong Kong Rich List with wealth of $6.5 billion.
The charges are tied to land?bids and ?the payment of HK$20 million, or $2.6 million, to Macau?s former public works chief Ao Man-long, who is serving a 28-year jail term, the South China Morning Post reported this morning. A check co-signed by Lau written to a Ao-controlled company was found in Ao?s former house during an investigation, the English-language daily said. ?
Trading in Chinese Estates Holdings was suspended this morning at the Hong Kong Stock Exchange.
Lau faces charges?shortly after three other pillars of the business community ? the ?Kwok brothers of Sun Hung Kai Properties ? where charged with bribery.
The advance of Lau bribery case to the prosecution phase comes after a heated election for Hong Kong chief executive that involved debate over the local rich-poor gap. ?(See related story here.)
??Follow me on Twitter @rflannerychina
Article source: http://www.forbes.com/sites/russellflannery/2012/05/23/hong-kong-billionaire-joseph-lau-to-face-bribery-charges-chinese-estates-shares-suspended/
foo fighters nikki minaj grammys album of the year nicki minaj grammy red carpet grammy award winners
No comments:
Post a Comment