05/07 Bribery trial opens for ICBC (Asia) managers

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Two senior employees of ICBC (Asia) stood on trial Monday for charges of accepting bribery in ralation to a loan application in the Hong Kong District Court, said a report of a Hong Kong-based newspaper.

The two people who got involved in the case were Derick Chan Po-fui, head of the corporate banking department and Chan Yick-yiu, former head of the corporate financing department.

Zeng Wei, major shareholder-cum-director of United Win Holdings Ltd.

A third person, Zeng Wei, major shareholder-cum-director of United Win Holdings Ltd, also faced charges of paying bribery, but failed to appear in court yesterday and the court issued a warrant for his arrest.

Derick Chan was charged with taking money from Zeng Wei for assisting hime in extending repayment period of loans owed by Zeng or his companies to the bank.

Chan Yick-yiu faced bribery charges that claimed he accepted bribery from Zeng for assisting him or his companies in preparing credit proposals for loan applications to ICBC (Asia).

Derick Chan Po-fui admitted partial accusations and awaited verdict, while Chan Yick-yiu denied all the charges against him.