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Channel C, a well-known online media outlet, is currently facing severe financial difficulties, with all 29 of its editorial staff members owed a total of HK$66,000 in back pay, mandatory provident fund contributions, and miscellaneous expenses as of April 23.
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The crisis at Channel C came following allegations that its parent company and associated firms engaged in fraudulent activities, including the use of forged bank documents and transfer records to secure "Dedicated 100% Loan Guarantee Schemes" totaling HK$12 million.
Since April 23, there has been no new content on Channel C, indicating a halt in operations. The financial woes have affected all staff members, including full-time, part-time, and freelance employees, leading many to cease work, take leave, or resign. One employee reported being owed wages for three and a half months.
Last Wednesday (Apr 16), police arrested six individuals linked to the scandal. Those detained include a 29-year-old female director of Channel C’s parent company, a 45-year-old male director of a logistics company, his 35-year-old wife who is also involved in the logistics business, and a 42-year-old female employee from the same company.
Further investigations by East Week, the sister publication of The Standard, revealed that the owner of Channel C, surnamed Chan, has primary business interests in logistics. Chan later expanded into media by establishing a production company, initially funded by the logistics operations he runs with his wife. This connection has brought additional scrutiny to the financial practices of both the media outlet and its associated logistics businesses.
(Prashan Limbu)
