A former Hong Kong lawmaker and his son have been remanded in custody after being found guilty of conspiracy to defraud for transactions related to a publicly listed company almost a decade ago.
A District Court judge on Monday revoked the bail of Chim Pui-chung, 78, and son Ricky Chim Kim-lun, 55, after delivering the guilty verdict. The elder Chim represented the financial services sector in the Legislative Council between 2004 and 2012.
Businesswoman Wong Poe-lai, 68, was convicted of money laundering in the same case.
Judge Ernest Lin Kam-hung handed his 104-page judgment to the trio’s lawyers and postponed the court session for an hour to allow them to discuss their course of action.
All three were remanded in custody.
The court earlier heard that merchant Ma Zhonghong, an associate of Wong’s, conspired with the Chims and other unidentified people to commit fraud by concealing his agreement to pay HK$210 million (US$27 million) to the duo to gain control of between 70 per cent and 75 per cent of Hong Kong-listed Asia Resources Holdings.
