Graft-accused Patrick Ho did not declare funding sources, report saysLocal | 24 Jul 2018 3:33 pm
Former home affairs secretary Patrick Ho Chi-ping, who is facing corruption charges in the United States, has reportedly ignored numerous requests by his offshore law firm to declare the funding sources of a company he set up with mainland energy investors, RTHK reports citing the news agency, FactWire.
FactWire reported that Ho has controlled at least two companies in the British Virgin Islands for years, and through one of them he had set up a local company, called China United Resources, with the mainlanders in 2013.
The report says that as Ho is classified as a "politically exposed person" because he was previously a minister, the law firm in Panama requested him to disclose the British Virgin Island company's finances, source of funds, as well as its ultimate beneficial owner. But none of the requests was answered over the years.
However, the FactWire report admitted there is no suggestion of any wrongdoing.
Ho is accused of offering bribes to senior officials from Chad and Uganda to secure business advantages for a Shanghai-based energy firm he represented. He has denied the charges and failed recently to get them thrown out.
Ho is currently in detention in New York.