The scandal of Kelly Hill, a private school for nobles, continued to ferment, turning from financial difficulties into family disputes.
The founder, WONG Pak Yin Edward (WONG Pak Yin Edward), broke with the brothers of WONG Chung Martin (WONG Chung Martin) who was the former chief financial officer.
Wang Zhong called Wang Baixian his elder brother, but Wang Baixian exploded that Wang Zhong was an adopted son adopted by his mother, not his brother.
Wang Baixian often refers to himself as an investor and his parents, saying that the school has only "come out of the mountain" when it is in crisis. However, his wife and mother have always served as directors of the company, and the employees all refer to him as the person in charge behind the scenes.
Wang Baixian was interviewed by a financial magazine in June this year and talked about the 3 billion yuan listing and financing plan, but he denied the plan to go public when he accepted the "Hong Kong 01" interview.
The reporter obtained the pre-listing financing briefing document, and Wang Zhongzhi has raised 20 million yuan.
Kelly Hill School Investigation and Page | Inside the Financial Distress Scandal of the British Noble School Hong Kong Branch
Kailishan School Investigation・1｜Wages, rents and debts were liquidated, founder Wang Baixian failed to explain his doubts
Kelly Hill School Investigation · 2｜The brothers broke apart and mutually exclusive embezzlement of 3 billion yuan of public funds to go public and hit the rocks
▼Mount Kelly Main School in Mount Kelly, UK▼
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Mount Kelly School in the United Kingdom is a traditional prestigious school located in Tavistock (Tavistock) in Devon, southwest England. Many graduates can progress to Oxford and Cambridge.
The non-profit-making "Kelly Hill Foundation" authorized Wang Baixian's affiliated company to open a Hong Kong branch in 2016, with an annual tuition fee of 150,000 to 200,000 yuan for primary and secondary schools, so that they can be promoted to the UK school.
▼Wang Baixian took the initiative to invite a visit▼
Wang Baixian's wife and mother serve as directors of the company
The Hong Kong school broke out in financial difficulties this year. Wang Baixian issued a statement in May this year saying that the authorized company is called "KA Holdings Limited" and has terminated the contract with the school's "Mount Kelly International Limited".
However, according to the Registrar of Companies, "KA Holdings", "Mount Kelly International", and the "Mount Kelly Foundation" responsible for the bonds, the directors are Wang Baixian's wife, Lu Qiaoer, and mother, Tang Guizhen.
According to the Education Bureau, Tang Guizhen is the superintendent of Kailishan School.
Lu Qiaoer and Tang Guizhen resigned from the board of directors of Mount Kelly International in July, and the company changed its name to "PM Education Operation".
The "Mount Kelly Foundation" has been compulsorily liquidated.
▼Kelly Hill 2016 groundbreaking ceremony for Tuen Mun So Kwan Wat but the school failed to be established▼
Brother came out and manipulated behind the scenes
Wang Baixian has always been the person behind the scenes, but he often regards himself as an investor representative and ordinary parent. The younger brother Wang Zhong, who is the chief financial officer, has always come forward to the outside world, including the groundbreaking ceremony of Tuen Mun So Kwan Wat in November 2016, but the school failed afterwards. .
Former CFO of Mount Kelly and Wang Baixian’s younger brother Wang Zhong said in an interview with "Hong Kong 01": "Wang Baixian directly intervenes and participates in the operation of schools, large and small, and he allocates funds financially."
Wang Baixian once sent a letter to his parents, saying that he would succeed in his deeds.
But his wife and mother have been serving as directors of school-related companies.
(Photo by Zheng Zifeng)
The brother filed a report to chase the brother's debts and the brother reported to warn brother
Wang Zhong filed a petition in early August this year, and demanded more than 10 million yuan from Wang Baixian.
According to the filing, in 2018, Wang Baixian borrowed a total of 9.5 million yuan from Wang Zhong for the school, but only 7 million yuan was put into the school's account, and 2.5 million yuan went to Wang Baixian's private account.
In July, Wang Baixian accused Lieutenant General Wang of transferring 600,000 yuan from Mount Kelly International to his personal account.
The police arrested Wang Zhong on suspicion of theft in August and was released on bail.
WONG Chung Martin, the former financial director of Mount Carey School, was interviewed by "Hong Kong 01" and talked about his relationship with his brother Wang Baixian and the confusion of school accounts.
(Photo by Yu Junliang)
Brother said there was a missing cheque
"From September last year, I saw that the operation of the school became paralyzed, and the large expenses were not paid. Why didn't the expenses of several hundred yuan be paid? Some people deliberately hide the school construction and tuition fees, and the school has no income." Wang Baixian pointed out. In July, I received a bank notice that some checks were not cashed, only to discover that it was some of the lost checks. "This is just the beginning of everything. We never thought it was Martin (Wang Zhong), maybe the money was at fault."
However, Wang Zhong denied Wang Baixian’s allegation, "I have properly recorded all the money handed to me by the company, and all the documents." He also claimed that the transfer of 600,000 yuan to the police by Wang Baixian had been accounted for and filed. "He also knows this matter. And I am authorized to use company funds."
Wang Baixian, the founder of Kelly Hill School in Hong Kong, accepted an interview with "Hong Kong 01" and transferred the responsibility for school accounting problems to his non-born brother Wang Zhong.
(Photo by Yu Junliang)
Transfer to private account Wang Baixian: Absolutely appropriate
Mount Kelly International's BOC account in May this year was circulated among the faculty and staff. Among them, a number of sums totaling 880,000 yuan were transferred to Wang Baixian's private account.
Wang Baixian admitted to reporters that the bill was genuine and that it was accidentally leaked. The reason for the transfer was "to fight fast" before transferring the money.
The reporter asked whether it was appropriate to transfer funds to a private account. He bluntly stated that it was "absolutely appropriate" and pointed out that his wife and director Lu Qiaoer had signed the authorization letter, but Wang Zhong's transfer was not authorized.
Mount Kelly International's BOC account in May this year was circulated among the faculty and staff. Among them, a number of sums totaling 880,000 yuan were transferred to Wang Baixian's private account.
(Provided by interviewee)
Former CFO: School funds are used for private expenses
Wang Zhong also provided a 200-page transaction record of the school with the Bank of China. Since 2016, there have been a number of funds transferred to Wang Baixian's private account, which was also used to pay his wife and several private residential rents.
"Why are there financial difficulties? Because Wang Baixian has been taking money from the company for personal expenses over the years, such as buying air tickets to travel, ordering wine, renting residences for employees, etc." Wang Zhong said.
Wang Zhong pointed out that he only counts cash. For many years, Wang Baixian has taken away 35 million yuan. "Too many expenditures caused by Wang Baixian are not worthy. We asked him to provide documents and audits, but he was unable to provide them."
In May 2021, Carey Hill School in Hong Kong sent a letter to parents stating that Wang Baixian had "returned" to the school.
(Photo by Zheng Zifeng)
Wang Baixian denies all allegations
However, Wang Baixian denied all of Wang Zhong's allegations.
The reporter asked, "There have been records of withdrawing school funds, paying rent, and buying alcohol over the years. Have you done it?" Wang Baixian responded: "No, absolutely not."
WONG Chung Martin (WONG Chung Martin) has always referred to Wang Baixian as his elder brother, but after the Kelly Hill School’s accounting problems broke out, Wang Baixian pointed out that Wang Chung was adopted by his mother, not his biological brother.
(Photo by Yu Junliang)
The mystery brother who broke his life experience: I have never heard of adoption
Wang Zhong called Wang Baixian his elder brother, but Wang Baixian exploded that Wang Zhong was an adopted son adopted by his mother, not his brother.
Wang Baixian described Wang Zhong as "gossip": "I don't want to talk too much about family affairs, now it is like this."
However, Wang Zhong said that he has never heard of adoption, and has always recognized the two as biological brothers, and then pointed out that Wang Baixian is not: "He has been dishonest in dealing with things for many years, covering up and deceiving left and right."
In Capital Magazine in June 2021, Wang Baixian visited CUHK to talk about listing plans.
(Capital Magazine website)
In June, talk about listing plans and deny in August
The brothers broke up, and the lawsuit did not end, but various scandals affected Kelly Hill's listing plan.
In June of this year, Wang Baixian accepted a magazine interview and talked about the expansion plan for financing and listing. He said that the group is valued at 3 billion yuan and plans to go public in 2023 with an annual income of 600 million yuan. It will also open branch schools in Japan, Malaysia, and mainland China.
However, Wang Baixian told the reporter of "Hong Kong 01" that there is no plan to go public. "Many people commercialize us. Some people deliberately say that we will go public. In fact, we can't go public at all. We can't control what others say."
Mount Kelly, Hong Kong raises funds through an offshore company in the Cayman Islands.
(Photo by Yu Junliang)
Cayman Islands offshore company raises 20 million yuan
Wang Zhong also accused Wang Baixian of raising more than 20 million yuan from the Cayman Islands-registered offshore company "Mount Kelly Cayman" last year without the knowledge of Mount Kelly and the school board.
However, Wang Baixian denied: "This is not a pre-IPO fundraising. It is an account in the Cayman Islands used to build the school. It is a global development. It will not be the same as the predecessors. It will not merge all (branch schools) together." He refers to the British Kay. Lishan will participate in the cooperation.
▼Kelly Hill Fundraising Profile ▼
The financing profile lists the former manager's information to clarify that he has long resigned
The reporter obtained a "Mount Kelly Cayman" financing profile in August 2020, setting out the listing plan on the Hong Kong Stock Exchange, which is consistent with Wang Baixian's interview with the magazine that the group valuation and listing schedule are consistent.
However, Liang Jinfang, the management listed in the document, clarified through "Hong Kong 01" that he has resigned from all positions in 2019 and has nothing to do with him. He is considering pursuing the matter.
Liang served as the Chief Operating Officer of the Tung Wah Group of Hospitals for 11 years, and also served as an executive director and school manager of Kelly Hill, Hong Kong.
"My idea has always been that no matter how he spends his money, it doesn't matter if the staff can receive salaries and the school can operate normally." Wang Zhong said bluntly, regretting not exposing the incident earlier.
▼Hong Kong Kelly Hill Tsim Sha Tsui Good Ownership School ▼
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Wang and Wang Baixian in uncompromising, reporters continue to investigate and found that Wang Baixian been in prison and was renamed in recent years also involved in the court case in court testimony and multi-access argument to differ materially, please refer to
the third episode reported
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Chen Huishan spoke for Kailishan in 2016, but she filed a petition in December 2017, requesting a refund of 1.92 million yuan in personal nomination bonds, or compensation for losses.
Kelly Hill pointed out that Chen had proposed to provide marketing services for the school in exchange for exempting her daughter's nomination voucher fee for admission to Kelly Hill in Hong Kong, but in the end she failed to perform the relevant work.
(Information Picture / Photo by Zhang Jiamin)
Carey Hill School Investigation 1｜Wages, rent and debts were liquidated, founder Wang Baixian failed to explain the question that the former high-level of Carey Hill was accused of stealing about 600,000 yuan from the school. A 34-year-old man was arrested for theft in Hong Kong Carey Hill School Ten former employees, including the vice principal, filed a claim that the school did not have representatives to attend the Kelly Hill British General School. The principal replied 01: Hong Kong branch school franchise has no right to intervene and ask for help
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