Former Hong Kong bank manager guilty of HK$21 million fraud of Japanese investors

Anti corruption investigation reveals culprit helped illegal syndicate by issuing false bank documents to deceive investors

A former manager at Standard Chartered Bank has admitted to helping an illegal syndicate deceive Japanese investors into pouring more than 400 million yen (US$2.7 million) into projects in Africa, following an investigation by Hong Kong’s anti-corruption agency.

The Commission Against Corruption (ICAC) said on Monday that Leung Ho-yin, a former relationship manager at the bank, had pleaded guilty to two counts of conspiracy to defraud.

The watchdog first investigated the corruption report and found that Leung, along with his colleagues Woo Man-ho, Chan Tak-ching, and a self-employed financial consultant, Law Man-fai, had conspired to defraud between January 2015 and September 2016.

They did this by issuing false bank documents to trick various Japanese investors into investing in ADF Capital Limited and other companies.

Former Hong Kong bank manager guilty of HK$21 million fraud of Japanese investors

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