Ex-school Head Arrested For Alleged Embezzlement

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2021-10-27 HKT 15:41

Share this story

facebook

  • Police say a man was arrested in Tseung Kwan O last week in connection with the embezzlement of school funds. File photo: RTHK

    Police say a man was arrested in Tseung Kwan O last week in connection with the embezzlement of school funds. File photo: RTHK

It's understood that the former headteacher of GT (Ellen Yeung) College (Junior Primary Section), Nip Man, has been arrested by the police on suspicion of embezzlement.

Police confirmed that the school filed a report to the force in May after suspecting a staff member had withdrawn about HK$10.6 million in school funds under false pretenses between September 2018 and April this year.

The police said after conducting a probe, they arrested a man in Tseung Kwan O last week. The suspect has since been released on bail, pending further investigations.

Nip resigned from the school in May after allegations of financial irregularities came to light.

GT (Ellen Yeung) College has campuses in Mong Kok and Tseung Kwan O.

RECENT NEWS

ZA Bank Brings Nasdaq Data To Hong Kong, Expanding US Stock Access And Investor Education

ZA Bank and Nasdaq have announced a collaboration aimed at enhancing digital wealth management in Hong Kong and interna... Read more

Hong Kong To Study One‑Stop Infrastructure For Equities, Bonds And Digital Assets

The Hong Kong Monetary Authority’s (HKMA) CMU OmniClear and the Hong Kong Exchange (HKEX) are set to begin a study on... Read more

Hong Kong To Issue First Stablecoin Licenses In March, Expand Crypto Regulation

Hong Kong will issue its first licenses for fiat-referenced stablecoin issuers in March and introduce new legislation l... Read more

MSIG Joins US$6B IFC Credit Insurance Facility To Boost Emerging Market Lending

MSIG USA and Mitsui Sumitomo Insurance (MSI Japan), together referred to as MSIG, have joined a new insurance-ba... Read more

Why The $2 Trillion Stablecoin Prediction Is Too Low

McKinsey estimates the stablecoin market will hit $2 trillion by 2028. But according to Sam Lin, COO of dtcpay, even th... Read more

RedotPay Eyes US IPO With Potential US$1 Billion Raise

RedotPay is reportedly exploring an IPO in the US that could raise more than US$1 billion, according to people famili... Read more