Ex-Hong Kong lawmaker Chim Pui-chung jailed for 2 years, 10 months in fraud case

Former Hong Kong lawmaker Chim Pui-chung has been jailed for two years and 10 months after being found guilty of conspiracy to defraud over transactions related to a publicly listed company nearly a decade ago.

District Judge Ernest Lin Kam-hung on Monday also sentenced the ex-lawmaker’s son, 55-year-old Ricky Chim Kim-lun, to three years and one month in prison over his role in the case.

Businesswoman Wong Poe-lai, 68, who was convicted of money laundering in the same case, was sentenced to two years.

The court earlier heard that merchant Ma Zhonghong, an associate of Wong’s, conspired with Chim, his son and other unidentified people to commit fraud by concealing his agreement to pay HK$210 million (US$27 million) to the Chims to gain control of between 70 and 75 per cent of Hong Kong-listed Asia Resources Holdings.

Chim Pui-chung, who represented the financial services sector at the Legislative Council from 2004 to 2012, was a substantial shareholder in the company. His son also served as its chairman between 2008 and 2014.

The Independent Commission Against Corruption said the deal constituted a back-door listing because it denied the stock exchange and other shareholders the opportunity to scrutinise the transaction.