Hong Kong law firm employee arrested over suspected HK$10m theft from clients

Ten clients approached the firm with complaints on Monday after it failed to collect deposits from flat sales

PUBLISHED : Tuesday, 30 August, 2016, 9:36am
UPDATED : Tuesday, 30 August, 2016, 11:32pm

An employee at a law firm in Mong Kok has been arrested on suspicion of stealing more than HK$10 million in deposits from clients in property transactions.

About 10 clients approached the firm in the Kowloon Building on Nathan Road on Monday after it failed to collect deposits from flat sales.

One of the clients told media his relative had sold a flat for HK$9.7 million and was introduced to the firm by a property agent.

The man said about HK$200,000 in initial deposit was collected earlier. The firm promised to pay the remaining deposit of HK$770,000 from the buyer on Monday, but failed to do so.

The employee concerned had allegedly claimed there were problems with the paperwork.

The man approached the firm on Monday, when he met some other clients who were there for the same reason.

Officers arrested the 53-year-old worker on Monday night. He was charged with one count of theft and will appear at Kowloon City Court on Wednesday.

A police spokesman said 12 people had complained about the firm.

The man was believed to have personal financial troubles and had allegedly asked the clients to leave the payee box on the cheques blank so that he could take the money.

Yau Tsim District Crime Squad launched an investigation.

The Law Society said it was learning more about the case from the firm.