27th November 2023 – (Hong Kong) Bsinessman Cho Kwai-chee was served with a lawsuit last Friday for failing to repay loans within the agreed-upon timeframe, including compensation for the outstanding amount and accrued interest. However, the lawsuit does not specify the details of the loans in question or the exact amount being sought.
The plaintiff, identified as Chan Chi-fung, has filed the lawsuit against Cho Kwai-chee, alleging violations of three loan agreements by the defendant. According to the court filing, Cho failed to fulfil the repayment obligations outlined in the agreements, prompting the plaintiff to seek compensation, including interest and legal fees.
Cho Kwai-chee, a former director of Convoy Global Holdings, has previously been involved in a case related to alleged fraud in connection with two other former executive directors of Convoy Global Holdings. The case involved allegations of misleading the Stock Exchange of Hong Kong, Convoy Global Holdings, its board of directors, and shareholders by concealing the company’s subsidiary, Convoy Financial, during the acquisition of TRUE SURPLUS INTERNATIONAL INVESTMENT LIMITED. The three individuals were jointly charged with conspiracy to defraud and making false statements as company directors. In 2020, the District Court ruled that they were not guilty of the charges. The Department of Justice appealed the acquittal on the charge of conspiracy to defraud, but the appeal was rejected by the Court of Appeal in June of this year.