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The Independent Commission Against Corruption (ICAC) has charged the father of a former listed company deputy general manager over his alleged role in a major cross-border corruption conspiracy involving bribes totaling approximately AUD$25 million (approximately HK$140 million).
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The charges follow a prior prosecution by the anti-graft watchdog, which previously charged the former deputy general manager and his mother with bribery for allegedly showing favor to an Australian businessman regarding the listed company’s overseas property investments.
Following further investigation and legal advice from the Department of Justice, the executive's father was also formally charged for his involvement in the scheme.
The father, 77-year-old Ng Cho-wong, has been released on ICAC bail pending his appearance at the Eastern Magistrates’ Courts for mention on Wednesday.
His son, 46-year-old Ng Wai, is scheduled to appear in the same court on the same day.
The two charges against Ng Cho-wong allege that between June 2014 and November 2021, he conspired with his son, Ng Wai, and another individual, Han Shang-min, to accept bribes from an Australian property developer.
These illicit gains reportedly included cash totaling AUD$22 million (approximately HK$123.6 million) and an investment opportunity contract that yielded an additional profit of about AUD$3 million (approximately HK$16.9 million).
In exchange for these benefits, Ng Wai allegedly used his position to show favorable treatment to the Australian businessman and his associated companies in relation to the business operations of Beijing Capital Land Limited (BCL).
The ICAC's investigation initially arose from a corruption complaint. Subsequent inquiries revealed that, following Ng Wai’s recommendations, BCL had invested in various property development projects in Australia worth a cumulative total of approximately AUD$820 million (approximately HK$4.6 billion) since 2014.
The watchdog noted that the vast majority of these high-value projects were developed by corporate entities associated directly with the Australian businessman in question.
