Former JP Morgan banker Catherine Leung denies graft

Local | 18 Jul 2019 4:11 pm

A former JPMorgan Asia investment banking vice-chair, Catherine Leung Kar-cheung, pleaded not guilty to charges of bribery today.

Leung was charged in May by Hong Kong's Independent Commission Against Corruption with bribing the then chairman of a potential client, a logistics company, by employing his son at the U.S. investment bank.

The prosecution in the Leung case said toay that Leung had "offered advantages" to

Keng-lam Ang, chairman of Kerry Logistics Network.

Leung did that in anticipation that Ang would return the favor by influencing Kerry Logistics and its parent Kerry Properties to give business to JPMorgan, the

prosecution alleged in its summary of facts.

Leung did not comment when approached by Reuters outside the court room. Ang and his son could not be immediately reached for comment via their current employer.

A Kerry Logistics representative said in an email that Ang stepped down from Kerry Logistics Network Limited's chairmanship in August 2012, and that JPMorgan did not participate in Kerry Logistics' IPO in December 2013. A spokeswoman for Kerry Properties did not immediately respond to a request for comment.

 

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