Chu Hai College finance director arrested over alleged $770,000 theft

A finance director at Hong Kong Chu Hai College has been arrested for allegedly stealing more than HK$770,000 from the institution’s bank accounts, according to Sing Tao Probe, a sister publication of The Standard.

Police said the 49-year-old man, surnamed Yip, was arrested on April 30 on suspicion of theft. He has served as the college’s finance director since 2024.

The case surfaced after the college principal, Jane Zhang, received a bank alert on April 17 regarding three suspicious transactions. Funds were allegedly transferred from the school’s account to the suspect’s personal bank account.

Following discussions with the school’s board on April 29, the case was reported to police. Officers from the Tuen Mun District Crime Squad arrested the man on campus the following day.

He has been released on bail pending further investigation and is required to report to police on May 28.

 

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