23rd February 2021 – (Hong Kong) Two former senior executives and a manager of Convoy Global Holdings (Convoy) were accused of colluding with the general manager of a securities company to defraud over the acquisition of a company and a bond offering worth a combined HK$138.6 million and ostensibly arranged for the securities company to handle the allotment matters between 1st June 2014 and 27th April 2017. However, the actual placement was carried out by Convoy’s related companies in secret, and 96% of the commission was paid to Convoy’s related companies, involving HK$49.6 million. The above four persons denied two counts of conspiracy to defraud and one count of alternate charges of fraud. The case was heard in the district court today (23rd). The prosecution alleged that the exchange of information between two of the defendants showed that they were aware of the matter.
The four defendants include Convoy former executive director Mark Mak Kwong-yiu, 44, former manager Wong Shuk-on, 40, former Convoy chief financial officer Christie Chan Lai-yee, 46 and Gransing Securities general manager Lee Yick-ming, 48
Another -former Convoy executive director, Roy Cho Kwai-chee, the alleged mastermind of the fraud, was charged in May in 2020.