Ex-director Of Convoy Global Charged With Fraud
"); jQuery("#212 h3").html("
"); jQuery(document).ready(function() { jwplayer.key='EKOtdBrvhiKxeOU807UIF56TaHWapYjKnFiG7ipl3gw='; var playerInstance = jwplayer("jquery_jwplayer_1"); playerInstance.setup({ file: "https://newsstatic.rthk.hk/audios/mfile_1457873_1_20190516183635.mp3", skin: { url: location.href.split('/', 4).join('/') + '/jwplayer/skin/rthk/five.css', name: 'five' }, hlshtml: true, width: "100%", height: 30, wmode: 'transparent', primary: navigator.userAgent.indexOf("Trident")>-1 ? "flash" : "html5", events: { onPlay: function(event) { dcsMultiTrack('DCS.dcsuri', 'https://news.rthk.hk/rthk/en/component/k2/1457873-20190516.mp3', 'WT.ti', ' Audio at newsfeed', 'WT.cg_n', '#rthknews', 'WT.cg_s', 'Multimedia','WT.es','https://news.rthk.hk/rthk/en/component/k2/1457873-20190516.htm', 'DCS.dcsqry', '' ); } } }); }); });
2019-05-16 HKT 17:04
Share this story
A key figure in the financial scandal surrounding listed company Convoy Global Holdings was on Thursday brought to court after being charged with conspiracy to defraud the company and Hong Kong’s stock exchange.
According to a statement issued by the ICAC, Cho Kwai-chee, 55, a former director and shareholder of Convoy Global Holdings, had conspired with other Convoy executives to cause a subsidiary of the company to acquire an investment company – in which he owned 55 percent – in September 2016, for over HK$89 million.
The graftbuster said Cho personally pocketed over HK$57 million from the acquisition.
It said he failed to disclose his stakes in the companies concerned, and the acquisition violated listing rules.
Eastern Magistracy granted Cho bail on HK$700,000 and allowed him to travel to Australia to handle an immigration application for the country.
He is due in court again on July 24.
Convoy Global is one of Hong Kong’s largest financial advisory firms.
The ICAC had in December 2017 arrested four people in connection with the case, including Convoy's former chairman Quincy Wong.
Jean-Louis Tse Appointed CEO Of FinTech Association Of Hong Kong
The FinTech Association of Hong Kong (FTAHK) has appointed Jean-Louis Tse as its new CEO. Jean-Louis brings over 20 yea... Read more
XTransfer To Present Compliance And SME Solutions At Hong Kong Fintech Week
XTransfer will participate in Hong Kong Fintech Week 2025 as the event’s Official Fintech Partner. This marks the sec... Read more
Hang Seng E-HKD Pilots Reveal Gains In SME Cash Flow And Efficiency
Hang Seng Bank has completed two use cases in Phase 2 of the e-HKD Pilot Programme under the Hong Kong Monetary Authori... Read more
FundPark Raises US$71M After Surpassing US$6B In ECommerce Financing
FundPark, a Hong Kong-based technology company providing financing solutions for eCommerce businesses, has raised US$71... Read more
Hang Seng Bank Launches “JustPay” With Voice Recording Payment Feature
Hang Seng Bank has introduced “JustPay”, an industry-first payment experience featuring a voice recording function.... Read more
How To Build An AI First Bank | Malaysia Banking CxO Roundtable
AI is changing banking faster than ever, from how banks detect fraud to how customers interact with apps. In this round... Read more