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FCPA Blog Daily News

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Tuesday
Dec232014

Billionaire Kwok sentenced to five years in prison for Hong Kong bribes

Thomas Kwok (Image courtesy of Asia One)The former co-chairman of Hong Kong's biggest real estate developer Sun Hung Kai Properties Ltd was sentenced to five years in jail Tuesday after his conviction Friday for bribery.

Billionaire Thomas Kwok, 63, said he will appeal his conviction.

Rafael Hui, 66, the former head of Hong Kong's civil service from 2005 to 2007, was sentenced to seven and half years in jail for taking bribes from Kwok in exchange for giving Sun Hung Kai preferential treatment.

The court ordered Hui, who's bankrupt, to return about $1.5 million in bribes to the Hong Kong government.

Hui was convicted Friday of three counts of misconduct in public office and two counts of conspiracy to commit misconduct.

Kwok was found guilty of one count of conspiracy to commit misconduct.

His younger brother, Raymond Kwok, 61, the other co-chairman of Hong Kong-listed Sun Hung Kai, was acquitted of all bribery-related charges he faced.

Sun Hung Kai employees Thomas Chan and Francis Kwan were convicted of passing the bribes to Hui. Chan was sentenced to six years in prison and Kwan was given a five-year sentence.

The Kwok brothers are each worth about $10 billion.

Thomas Kwok resigned as co-chairman and managing director of Sun Hung Kai after his conviction.

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Richard L. Cassin is the publisher and editor of the FCPA Blog. He can be contacted here.