UNMAPPED FIELD root_ARCHIVEENTRY_METADATA_cci_tag_label = 'COURTS'
A former partner of international law firm K&L Gates accused of stealing at least HK$780 million of clients' funds was yesterday declared bankrupt by the High Court.
Mr Justice Aarif Barma of the Court of First Instance allowed the bankruptcy petition against Navin Kumar Aggarwal filed by Macau casino Melco Crown Gaming, to whom Aggarwal owes about HK$4.6 million.
Aggarwal, who faces three counts each of theft and forgery, will next appear in criminal court on August 27. His alleged theft was initially put at HK$16.6 million, but prosecutors revised it to HK$780 million. He is being held at Lai Chi Kok Reception Centre.
Aggarwal, who become a partner of K&L Gates in 2000 and resigned in June last year when his alleged crime came to light, wrote a letter of confession to the firm, saying he stole the money between January and July 2010 for gambling.
Aggarwal has liabilities of about HK$217 million and assets worth HK$45 million, according to a judgment handed down yesterday.