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ICAC Charges Former HKEX Employee for Allegedly Accepting Bribes for Disclosing Confidential Info
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A then Assistant Vice President of HKEX (00388.HK) was charged by the ICAC last Friday (21st) for allegedly accepting bribes of $150,000 for disclosing confidential information of listed companies. Two other individuals were charged with perversion in respect of a criminal investigation by the ICAC and the Securities and Futures Commission (SFC) into suspected insider dealings. As the bribery investigation is ongoing, the ICAC would not rule out taking further enforcement actions or prosecuting other implicated individuals. Tam Cheuk-yin, former Assistant Vice President, IT Team of the Listing Division of the HKEX, faces two counts of public servant accepting an advantage, contrary to section 4(2)(a) of the Prevention of Bribery Ordinance. Co-defendants Alan Chau Tsz-kong, and Tang Hing-yu, jointly face one count of perverting the course of public justice, contrary to the Common Law. The trio were released on ICAC bail while their case is set for mention at the Eastern Magistrates’ Courts today (25th). The prosecution will apply to transfer the case to the District Court for plea. AASTOCKS Financial News Website: www.aastocks.com |
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