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Written by: Zheng Qiuling
2020-01-17 20:44
Last updated: 2020-01-17 20:44Liu Jiacong, the former financial director and company secretary of the listed company Huaxin Real Estate Finance Co., Ltd., conspired to receive about 590,000 yuan in illegal commissions to engage an accountant building to provide services and outsource other work of the listed company to a company The consultant company he owned, defrauding a listed company of more than 2 million yuan, was previously sued by the Independent Commission Against Corruption, and was convicted today (17) in the District Court. Judge Lao Jieyi adjourned the case until February 21 and sentenced. The accused was remanded in custody for the time being.
The Independent Commission Against Corruption previously sued the former financial controller and company secretary of the listed company Huaxin Real Estate, accusing him of conspiring to receive about 590,000 illegal commissions and defrauding the company of more than 2 million yuan. He was convicted today (17th) in the District Court. (Profile picture)
Defendant awarded company financial advice to company in his own name
Defendant Liu Jiacong (44), a former chief financial officer and company secretary of Huaxin Real Estate, was convicted on two counts, that is, a conspiracy to make an agent accept the benefit and violate Section 9 (1) (a) of the Prevention of Bribery Ordinance Section and section 159A of the Crimes Ordinance, and a fraud which violates section 16A of the Theft Ordinance.
The case revealed that the defendant was the head of the accounting department at the time of the case and was responsible for handling all accounting and financial matters of Huaxin Real Estate and its subsidiaries. Watson Real Estate decided in May 2015 to acquire a company for more than 336 million yuan. The defendant proposed to outsource the relevant preparatory work to an independent third party, and obtained the proposal from Huaxin Real Estate. The defendant subsequently outsourced the relevant internal control review, taxation, financial consulting and consulting services of the acquisition to an accounting firm.
During the period from May 2015 to June 2016, Huaxin Real Estate and its subsidiaries paid a total of 754,000 yuan to the accounting firm for the relevant services, of which about 590,000 yuan was subsequently transferred to the defendant's bank account. The funds remain in the possession of the accountant building.
The case also revealed that the defendant established Xiqing Business Consulting Co., Ltd. on June 19, 2015, his sole director and shareholder. During the period from June 2015 to October 2016, the defendant did not disclose his interest in Xiqing to Huaxin Real Estate and did not solicit quotations from other contractors, causing Huaxin Real Estate and its subsidiaries to engage Greek Qing provides a variety of accounting, tax, research, financial consulting and consulting services.
The defendant, as the head of the accounting department of Huaxin Real Estate, agreed and approved 15 invoices issued by Xi Qing. Xi Qing was awarded more than 2 million yuan in total. If Huaxin Real Estate learns that the defendant is a director of Xiqing or holds any interest in Xiqing, it will not engage Xiqing to provide such services and pay related fees.
Watson Real Estate provided full assistance during the ICAC's investigation of the case. The prosecution was represented by the prosecutor's counsel, Shen Zhongping, with the assistance of ICAC officers Zhang Shuyi and Chen Beiyuan.
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ICAC