Legco Probe Into UGL Payments Comes Up Blank
"); jQuery("#212 h3").html("

"); });
2020-07-15 HKT 13:35
A Legco probe into former Chief Executive CY Leung’s acceptance of HK$50 million from the firm UGL has ended without reaching a conclusion, citing a lack of comprehensive evidence.
But a minority report from the pan-democrats said Leung's refusal to testify and provide enough evidence was "seriously regrettable".
Leung had said that the money was received before he became Hong Kong's leader, but lawmakers disputed this, and accused him of failing to declare a potential conflict of interest.
The probe committee was dominated by pro-Beijing lawmakers, and didn't have legal powers to call witnesses and documents.
Its chair, Paul Tse, told Legco it had much difficulty getting evidence for the inquiry.
In the report, he said Leung refused to testify, and many parties, such as CY’s former employers, the Chief Justice and the Exco secretariat, did not cooperate with the probe panel.
Tse said with how general the information they had at hand, the committee cannot draw any conclusions on their findings.
Tse said the committee concluded it’s difficult to proceed into fact-finding and discussion stage of the probe, given the circumstances.
However, accounting sector's Kenneth Leung led four democrats in issuing a minority report. He said Leung's attitude in not cooperating with the probe was seriously regrettable, as it meant the probe couldn't move forward and light couldn't be shed on the truth.
The lawmaker also condemned DAB lawmaker Holden Chow for holding secret talks with Leung about the scope of the probe, saying Chow had jeopardised the credibility of the probe and his personal integrity.
The probe’s report was submitted at the last session of this Legco term, after the committee was formed at the start of the term four years ago.
In late 2018, the ICAC decided to end its criminal probe against Leung without laying charges.
Hong Kong Fund Industry May Double With Tokenised Finance And 24/7 Trading Access
Hong Kong could potentially double the size of its fund industry by moving from legacy infrastructure to token-based fi... Read more
HKMA Alerts Public To Scam Website And Login Screens Posing As Official Site
The Hong Kong Monetary Authority (HKMA) has issued a public alert regarding a fraudulent website and online login scree... Read more
Hong Kong Fintech Promotion Blueprint Indicates 4 Incoming Flagship Projects
The Hong Kong Monetary Authority (HKMA) released the Hong Kong Fintech Promotion Blueprint on 3 February 2025, which sh... Read more
Visa To Enable Cross-Border Payments To 95% Of UnionPay Cardholders In China
At Web Summit Qatar, Visa and UnionPay International (UPI) announced an agreement to enable cross-border money transfer... Read more
HKMA Launches Fintech Blueprint With AI, DLT, Quantum And Cybersecurity Focus
The Hong Kong Monetary Authority (HKMA) published a Fintech Promotion Blueprint to support responsible innovation and f... Read more
How Gaming Giants Are Redefining The Experience Of Paying
Gaming isn’t just a hobby; it’s a global infrastructure challenge. In this episode Vincent Fong (Chief Editor, Fint... Read more
