HK hotel owner defrauds ICBC
Print Edition
Hong Kong’s anti-corruption body has charged a hotel owner with defrauding China’s biggest lender by assets, Industrial and Commercial Bank of China Ltd, of loans totalling 200 million Hong Kong dollars (US$25.8 million).
Lau Hei-wing, 59, the owner of Kimberley Hotel, faces three counts of fraud for making false statements to the bank’s Hong Kong unit to get loans to renovate the hotel, the Independent Commission Against Corruption said on Thursday.
In a statement, it said Lau “allegedly induced ICBC to release the three sums of money,” between February and April 2010 by falsely claiming the money would be used exclusively for the renovation.
Lau was released on bail pending a court appearance.
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