Ex-JPMorgan banker has case to answerLocal | 24 Sep 2020 2:46 pm
Former managing director of JPMorgan Catherine Leung Kar-cheung on trial for allegedly bribing the chairman of a company by offering his son a job in exchange for business preference has a case to answer.
Leung has chosen not to give evidence personally, the case will be summed up next Tuesday on October 29.
Prosecutors alleged Leung had a corrupt purpose when she hired Ang Ren-yi, son of Kerry Logistics Network chairman Ang Keng-lam through the “client referral program,” which allowed staff to refer the children or relatives of the company’s existing and potential clients for training, or employment.
Ang Ren-yi was allegedly given the job before completing legal and compliance vetting, which would examine if there are any conflicts of interest in hiring him.
Prosecutor Robert Lee Shiu-keung SC said the job was an incentive for Ang Keng-lam to favor JPMorgan for his company's initial public offering.