Hong Kong charges billionaire Kwok brothers, former government official in graft case - InfoNews

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Hong Kong charges billionaire Kwok brothers, former government official in graft case

Sun Hung Kai Properties Ltd. Joint Vice Chairmen and Managing Director Raymond Kwok speaks to the media before leaving the Eastern Court in Hong Kong Friday, July 13, 2012. THE CANADIAN PRESS/AP, Kin Cheung
July 13, 2012 - 1:46 AM

HONG KONG - Billionaire brothers Thomas and Raymond Kwok and three other people have been charged in a graft case alleging that the prominent developers gave bribes in exchange for lucrative information on pending land sales.

Also charged Friday by Hong Kong's Independent Commission Against Corruption are former Chief Secretary Rafael Hui, a former senior officer of Hong Kong Exchanges and Clearing, and an executive director of Sun Hung Kai Properties, which the Kwok brothers co-chair.

Hui is alleged to have provided land sale information to the Kwoks between 2005 and 2007. The three were arrested in March, and they were to appear in court Friday to answer charges of bribery and misconduct in public office.

Trading in Sun Hung Kai shares was suspended shortly after the Hong Kong stock market opened Friday.

News from © The Associated Press, 2012
The Associated Press

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