Corruption

[behappyalways]

(Mother trying to cover up for son.....what kind of family education???? )

The Low Official Found with Towering Pile of Cash, Gold and Properties
http://english.caixin.com/2014-11-20/100753459.html

[behappyalways]

Mapped: The world's most corrupt officials
http://www.telegraph.co.uk/finance/fina ... cials.html

[winston]

HK: Brokerage executive raided by ICAC

Anti-graft officers investigating suspected bribery searched a home of Wong Tung-ching, a senior executive at a unit of Guotai Junan Securities.

Independent Commission Against Corruption officers seized securities trading-account records and an agreement relating to a placement from the firm's office, Guotai Junan International Holdings (1788) revealed yesterday.

The raids took place on December 15 and nobody has been arrested.

The probe comes as parent firm Guotai Junan Securities, the mainland's No3 brokerage by assets, seeks approval for an initial public offering in the mainland.

At the Hong Kong unit, Wong oversees capital-market business such as IPOs and serves as an executive director and deputy chief executive officer.

"This investigation will continue to weigh on the firm's shares until it's clear what it's all about," said Francis Lun, chief executive of local broker Geo Securities. The stock fell 7.69 percent to HK$5.69 yesterday.

ICAC has invited Wong to visit its offices to assist with the investigation, the firm said, and it will provide more documents.

Meanwhile, NVC Lighting Holding (2222) founder and former chief executive Wu Changjiang is under arrest in Huizhou, Guangdong.

The top maker of lighting has accused Wu of embezzling nearly 600 million yuan (HK$750.7 million) from several of its bank accounts.

Source: BLOOMBERG

[behappyalways]

Depleted oil field highlights China's corruption crackdown
http://www.cnbc.com/id/102282721

[behappyalways]

Avon fined for bribing Chinese officials with Gucci bags
http://money.cnn.com/2014/12/18/news/av ... d=HP_River

[winston]

Hong Kong elite's mistresses, gangsters unveiled in graft trial

Hui said he traveled extensively, bought wine, spent HK$2 million (US$258,000) on classical music records over a few years, and another HK$1 million on a high-end stereo. His collection grew so large, he stored them in three converted bedrooms in his rent-free apartment provided by the Kwoks.

Hui testified he spent as much as HK$8 million buying properties, handbags and watches for a mistress, a young woman from Shanghai. He bet on horses and paid for their stabling at Hong Kong's exclusive jockey club, where he was a member and would treat guests to lavish meals.

Hui supported his lifestyle with sweetheart loans from his friends, and only paid off the interest. He borrowed some HK$30 million from the Bank of East Asia Ltd., which sued and bankrupted him last year when he failed to repay. Over three years he ran through HK$22 million in cash.

Despite cheating "to save some tax payments," he was HK$52 million in debt by 2010, he testified.

Thomas Kwok said he paid Hui HK$15 million a year for what he said amounted to a few phone calls a week, because the civil servant had turned down the other offers on his request.

Source: The Washington Post

http://www.smh.com.au/world/hong-kong-e ... 2bgr0.html

[winston]

HK

The Independent Commission Against Corruption has updated its code of conduct for members of public bodies to include tighter restrictions on employees receiving even gifts worth less than HK$500 ($64) without senior approval.

It described the update of the guidelines from its 2000 version as a precaution. (http://bit.ly/1AZ1Guy)

Source: SOUTH CHINA MORNING POST

[winston]

Hong Kong Magazine Reveals Crimes and Wealth of China's Former Security Czar

http://www.theepochtimes.com/n3/1162487 ... rity-czar/

[behappyalways]

Closer Look: PLA Transparency Exposes Depth of Its Graft Problem
http://english.caixin.com/2015-01-19/100775879.html


Guangdong Official Made Millions Selling Seats on Advisory Body
http://english.caixin.com/2015-01-19/100776015.html

[behappyalways]

以徐才厚为例，最重要的是卖官批发将军帽，在他担任军委副主席期间，全军上下跑官买官成风，「千军万马」和「百万雄师」成为人人皆知的潜规则，即升正军级要千万元价码，而升师级则要百万元代价，团、营、连亦层层明码标价，导致军心涣散，无人想正事、干正事，心思全用在请客送礼搞关系上

徐才厚胆子太大 他真把刘源整惨了(组图)
http://www.wenxuecity.com/news/2015/01/19/3962001.html