A DIRECTOR of the collapsed CA Pacific Group and his wife were refused bail yesterday when they appeared in court accused of false accounting in relation to a $373 million loan.
Jason Wong But-sit, 40, and Kong Suk-yee, 31, were remanded in jail custody by magistrate Eddie Yip Chor-man who adjourned the case until March 6 so police could continue their investigation.
The couple are expected to head for the High Court this week in an effort to persuade a judge to release them on bail.
They were charged at 5 am yesterday after being arrested at the group's offices on Friday and questioned by police overnight. Looking pale and cold, the couple stood peering through the bars of the dock, flanked by five police officers, during the 30-minute hearing at Eastern Court.
Wong is accused of falsifying a loan agreement between China Star Consultants and CA Pacific Finance.
The charge states that details of the agreement, dated 23 September, 1997, purported to show that Wong had the authority to sign it on behalf of CA Pacific Finance Ltd.
These entries were false and deceptive and were made by Wong with the intention that either he or someone else would benefit or cause loss to another, it is alleged.
