Hong Kong stamp duty

ICAC probe Franklin Lam's property sales

PUBLISHED : Friday, 02 November, 2012, 9:18pm
UPDATED : Friday, 02 November, 2012, 9:22pm

The Independent Commission Against Corruption (ICAC) has launched an investigation into the sale of two flats by Executive Council member Franklin Lam Fan-keung, according to a pan-democrat who earlier filed a complaint.

Lam sparked controversy over accusations that he benefitted from insider information after he put two Mid-Levels flats up for sale just weeks before the government introduced new measures to curb property prices.

He has denied knowing such measures were imminent, but members of the Democratic Party and the League of Social Democrats have filed complaints with the ICAC.

One of the complainants, LSD vice-chairman Avery Ng Man-yuen said on Friday afternoon he had made a statement with the anti-corruption agency relating to the case. He also quoted ICAC officers as saying they had launched an investigation.

The ICAC said it would not comment if it was investigating Lam’s dealings.

Lam on Thursday gave a new version of his dealings with a property agent who sold one of the flats. Earlier, Lam said he told the agent at Centaline Property Agency that he could pocket the difference between the asking price and the price paid for the Casa Bella flat 14B.

The Exco member said on Thursday the Centaline agent rejected his offer and suggested the money be given to charity.

Centaline chairman Sherman Lai Ming-kai said on Friday the company usually did not accept this surplus from clients.