Two richest HK property tycoons charged

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Two richest HK property tycoons charged

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Thomas and Raymond Kwok, two of the city's richest men were among five people charged.

13 July,2012 11:30 am

Two Hong Kong property tycoons and a former senior official were charged under anti-bribery laws on Friday, officials said, in the biggest graft scandal the regional banking hub has seen.Sun Hung Kai Properties co-chairmen Thomas and Raymond Kwok, two of the citys richest men, were among five people charged with a total of eight offences and will appear in court later Friday, an official statement said.Former chief secretary Rafael Hui was also charged, along with another Sun Hung Kai director, Thomas Chan, and Francis Kwan, former non-executive director of New Environmental Energy Holdings Ltd.The Kwoks are among Hong Kongs richest men and Sun Hung Kai is the citys biggest property developer by market capitalisation, having built some of the southern Chinese territorys biggest harbourside landmarks.Hui reportedly worked as a consultant for Sun Hung Kai, and is the most senior official ever arrested by the Independent Commission Against Corruption (ICAC).The eight charges include two of misconduct in public office and three of conspiracy to commit misconduct in public office, the ICAC said in a statement.Other charges included two of conspiracy to offer advantages to a public servant and one of furnishing false information.Hui, the former number two in the semi-autonomous southern Chinese city, faces two charges related to the rent free use of two flats and his acceptance of two unsecured loans.The value of the flats and loans was not provided.