A FORMER manager of the Hongkong Industrial and Commercial Bank and two company directors have pleaded guilty in the High Court to various charges of false accounting.
Lam Kam-wah, 41, and the directors of Wai Hung Kay Ltd (WHK), So Wing-you and Wong Shu-pui, both aged 42, admitted a total of 12 false accounting charges. The three will be sentenced on Friday by Deputy Judge Daniell.
Senior Crown counsel Mr Ian McWalters said Kwai Chung-based WHK traded mainly in imported plastic household goods.
Lam, who had been the manager of the North Point branch of Hongkong Industrial and Commercial Bank, became general manager of WHK in September 1988.
The court heard that the company held accounts with three banks, including Hongkong Industrial and Commercial Bank, which in late 1987 was taken over by Dah Sing Bank.
Each of the three banks had extended to WHK local letter of credit facilities.