A prominent pro-Beijing lawyer has been charged by Hong Kong’s corruption watchdog in an alleged bribery scandal involving a holdings company.
Kennedy Wong Ying-ho — a Hong Kong Supreme Court solicitor and a member of China’s top political advisory body — was charged by the Independent Commission Against Corruption (ICAC) on Saturday, August 1.
Wong is alleged to have offered money in his capacity as the director of Perfect Ace Investments to a former director of Ocean Grand and Chemicals Holdings Limited, a publicly-listed company with which he entered a restructuring agreement in 2007.
Two other former directors of Perfect Ace Investments, Chui Chuen-shun and Richard Yin, were also charged.
Wong was also charged with offering HK$15 million worth of share options for HK$1.8 million to the executive director of the same company to take part in the acquisition of five subsidiaries of another company, 3D-GOLD Jewellery Holdings Limited.
A statement by the ICAC said Wong entered into a restructuring agreement with Ocean Grand Chemicals Holdings in October 2007, after it went into liquidation in 2006. Restructuring was completed in September 2008 after Wong and other investors came to the aid of the beleaguered company and became major shareholders of the firm, with Wong becoming the company’s chairman.
Ocean Grand Chemical Holdings was renamed Hong Kong Resources in January 2009, and in July that year it acquired five subsidiaries from the then publicly-listed 3D-GOLD, following negotiations with the provisional liquidators.
Wong is also the managing partner of Philip KH Wong, Kennedy YH Wong & Co, a law firm founded by his father. He is the brother of Ada Wong Ying-kay, a former Wan Chai District Council chairwoman, who is also a partner of the same law firm.
Chui’s daughter Cathy Chui, former TVB presenter, is married to Martin Lee Ka-shing, the son of property tycoon Lee Shau Kee.
The three men are due to appear in Eastern Magistrates’ Court on Wednesday, August 5. All three defendants have been released on bail pending their court appearance on Wednesday.