Malaysian accused of possessing false US$516m bank statement

PUBLISHED : Monday, 10 June, 2013, 6:02pm
UPDATED : Tuesday, 11 June, 2013, 3:45am

A Malaysian man faced Eastern Court yesterday over an allegedly fake bank document involving US$516 million that was discovered in a probe into the collapse of the Hong Kong Mercantile Exchange (HKMEx).

Ong Shen Kuo, 59, is the seventh person arrested in the case.

The Malaysian passport holder was accused of possessing a false "proof of funds" statement, dated last year, which showed that a sum of US$516 million had been deposited into his account.

Prosecutor Ira Lui Tsz-ming said Ong, who is retired, travelled to Hong Kong frequently, but rarely stayed for more than two days at a time.

Lawyer Yuen Chi-keung, for Ong, said outside court that he had yet to apply for bail for Ong.

Principal Magistrate Bina Chainrai did not take a plea. Ong was remanded in custody. The case was adjourned to August.

According to information from the Companies Registry, Ong in March became director of Hong Kong Dongminjun, which is registered to an address on Hennessy Road and has share capital of HK$10,000.

The HKMEx surrendered its trading licence to the financial watchdog last month amid questions over its financial position.

It was founded by former executive councillor Barry Cheung Chun-yuen, who stepped down from all his public posts last month because he is under police investigation.

Three mainland men - Dai Linyi, Li Shanrong and Lian Chunren - have already faced court on the same charge of possessing false documents.

The other two people arrested - a man, 60, and a woman, 36, both from the mainland - were released on bail and must report back to police next month.