Hong Kong's billionaire brothers arrested

Kwok brothers held by anti-corruption investigators, wiping billions of dollars off value of their property company.

    The commission said the Kwok brothers were arrested for committing crimes under the bribery ordinance[Reuters]
    The commission said the Kwok brothers were arrested for committing crimes under the bribery ordinance[Reuters]

    The brothers behind Hong Kong's largest property developer have been arrested on suspicion of corruption, the company has confirmed.

    Brothers Raymond and Thomas Kwok, who serve as co-chairmen and managing directors of Sun Hung Kai Properties, were detained on Friday by anti-corruption investigators over alleged bribery offences.

    A company statement said the Kwoks would continue with their duties, and that normal business operations would not be affected.

    The Independent Commission Against Corruption (ICAC), which did not confirm the identity of the suspects, also said it had arrested a former senior govenment official.

    The South China Morning Post newspaper identified him as former chief secretary Rafael Hui, who had worked as a special adviser to Sun Hung Kai.

    On its website, the ICAC said the arrests were linked to "alleged offences under the prevention of bribery ordinance and misconduct in public office".

    "Two senior executives of a listed company in Hong Kong and a former principal official of the Hong Kong Government have been arrested for suspected corruption," it said in a statement.

    Gary Plowman, a former government prosecutor, said he had been to the ICAC and was representing one of the arrested parties whom he declined to identify.

    "Nobody has been charged," Plowman said. "We react, we're not proactive. We are reactive in these situations," he said.

    The ICAC was set up in 1974 to root out what was seen as widespread corruption in the Hong Kong government at the time, especially in the police.

    It acts as a law-enforcement agency, able to arrest and detain suspects, and prosecutes cases in conjunction with advice from the department of justice.

    Shares in Sun Hung Kai Properties lost almost $5bn in value following the arrests, plunging more than 13 per cent.

    SOURCE: Agencies


    YOU MIGHT ALSO LIKE

    Interactive: Coding like a girl

    Interactive: Coding like a girl

    What obstacles do young women in technology have to overcome to achieve their dreams? Play this retro game to find out.

    Heron Gate mass eviction: 'We never expected this in Canada'

    Hundreds face mass eviction in Canada's capital

    About 150 homes in one of Ottawa's most diverse and affordable communities are expected to be torn down in coming months

    I remember the day … I designed the Nigerian flag

    I remember the day … I designed the Nigerian flag

    In 1959, a year before Nigeria's independence, a 23-year-old student helped colour the country's identity.