Advertisement
Convoy fraud: Roy Cho could face seven years in jail after case is referred to District Court
- Cho, a former executive director at Convoy, was charged by the Independent Commission Against Corruption in May
- All six accused in cases related to fraud are out on bail
2-MIN READ2-MIN
Roy Cho Kwai-chee, the alleged mastermind in the fraud involving independent Hong Kong financial advisory firm Convoy Global holdings, could face longer jail time along with two associates, after a magistrate on Wednesday referred the case to the District Court, a higher court that can impose jail sentences of up to seven years.
A pretrial hearing is scheduled for September 2 to arrange the transfer.
Cho, 55, a former executive director at Convoy, was charged by the Independent Commission Against Corruption in May. On Monday, it levied the same charges against his associates, Christie Chan Lai-yee, 46, a former chief financial officer at Convoy, and Byron Tan Ye-kai, 51, a former executive director at the company.
An ICAC representative appearing before Principal Magistrate Peter Law Tak-chuen at the Eastern Magistrates’ Courts on Wednesday said the three accused colluded to have Convoy spend HK$89 million (US$11.39 million) on the acquisition of True Surplus International, an investment company, in September 2016.
Select Voice
Select Speed
1x
AI-generated voice