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ICAC Charges 72-Year-Old Woman for HKD400,000 Bribery of KPMG Staff to Assist Fabric Maker's Hong Kong IPO
The Independent Commission Against Corruption (ICAC) has charged an intermediary with allegedly offering a total of HKD400,000 in bribes in 2010 to two then managers of KPMG to ass...
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ICAC Charges 72-Year-Old Woman for HKD400,000 Bribery of KPMG Staff to Assist Fabric Maker's Hong Kong IPO
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The Independent Commission Against Corruption (ICAC) has charged an intermediary with allegedly offering a total of HKD400,000 in bribes in 2010 to two then managers of KPMG to assist fabric manufacturer Hontex International Holdings Company Limited in listing in Hong Kong. The 72-year-old defendant has been released on bail and appeared at the Eastern Magistrates' Courts today (15th).

The ICAC said the company was introduced by the defendant to appoint KPMG for audit services. The company was listed on the Main Board of the Hong Kong Exchanges and Clearing Limited in late December 2009 and was subsequently delisted in September 2013. In February 2010, the defendant allegedly offered cash bribes of HKD300,000 and HKD100,000 to a then senior manager and an assistant manager of KPMG respectively, as rewards for providing audit services to facilitate Hontex's initial public offering. The assistant manager refused the bribe and reported the incident to the firm. The ICAC received a referral from the Securities and Futures Commission at the end of March 2010. The defendant had already left Hong Kong at the time and was arrested by the ICAC earlier upon returning to Hong Kong. (ss/u)



This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.

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