The Independent Commission Against Corruption of Hong Kong announced today (22nd) that last week it carried out a joint operation codenamed "Sniper" with the Financial Reporting Bureau to search an accounting firm and its affiliated company offices and arrested 9 people, of which 5 were involved in receiving one in Hong Kong. The chairman of a listed Macau construction company paid more than HK$1 million in bribes to prepare a false accountant’s report to assist the company in applying for a main board listing on the Hong Kong Stock Exchange.
According to the department, all the arrested persons have been released on bail pending further investigation, and the investigation is still continuing.
The Independent Commission Against Corruption announced today that it had taken a joint operation codenamed "Sniper" with the Financial Reporting Bureau last week.
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The arrested persons include accounting firms and fellow companies 3 accountants and 2 auditors
The ICAC stated that it searched the offices of an accounting firm and its fellow companies with the Bureau of Finance and Remittance last week, and revealed that the address was the Hong Kong registered business address of a Hong Kong-listed Macau construction company.
Two arrested persons have served as chief financial officers of the construction company involved
The ICAC stated that nine people were arrested in the operation, including three accountants and two auditors from accounting firms and similar companies.
Two of the accountants successively served as the chief financial officer of the construction company.
Preparation of false accountants' report involving bribery to help apply for listing on the Main Board of the Hong Kong Stock Exchange
The Department continued that the five accountants or auditors were suspected of accepting bribes of over HK$1 million from the chairman of the construction company in order to prepare a false accountant report for the construction company to use when applying for listing on the Main Board of the Hong Kong Stock Exchange.
The ICAC stated that it suspected that some of the businesses mentioned in the accountant's report did not exist, and the report or concealed some connected transactions.
The Macao Independent Commission Against Corruption also opened a case to investigate and search the construction company’s Australian office
According to the department, the Macao Independent Commission Against Corruption has also initiated investigations into possible crimes committed by relevant persons in the local territory, and searched multiple locations in Macao, including the construction company’s office in Macao.
In addition, the ICAC also met with multiple people and searched multiple locations during the operation.
According to the department, the arrested person has been released on bail pending further investigation, and the investigation is still continuing, and it is not appropriate to make further comments.
The ICAC and the FRC signed a memorandum of understanding in September this year to strengthen cooperation to jointly combat corruption, illegal activities and irregularities involving listed entities.
The ICAC accused a job-seeking security guard for $5,000 bribery of Swire Properties’ recruitment officer, Li Mouren, director of the ICAC’s control of Maorong Industrial, for defrauding Bank of China’s US$5.5 million letter of credit. Huang Yaoming was arrested by the ICAC this morning for suspected involvement in the 2018 Legislative Council by-election