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Police Commercial Crime Bureau (CCB) today (September 18) arrested a 48-year-old man in connection with fictitious transactions totaling more than $530 million of a public listed company in Hong Kong.
On July 24, 2006, a public listed company in Hong Kong self-liquidated after discovering a shortfall of about RMB840 million in the bank balance of its Mainland subsidiaries.
The appointed provisional liquidator later discovered some accounting irregularies and reports were made to the Police CCB on August 4 and September 14 last year.
After extensive investigations, CCB Officers arrested the 48-year-old man of the listed company today. Three other men aged 33 to 50 and a 41-year-old woman had been arrested between August 2006 and February 2007, in connection with the case.
The five arrested are still being detained and will be charged with a total of 23 offences including conspiracy to defraud, conspiracy to steal, conspiracy to deal with proceeds of an indictable offence, false statement by a company director, theft, fraud, dealing with proceeds of an indictable offence and access to computer with dishonest intent.
They will appear in Eastern Magistracyˇ¦s Courts tomorrow (September 19).
Police Report No. 3
Ends/Tuesday, September 18, 2007
Issued at HKT 20:13
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