The nephew of two knitting company directors yesterday admitted stealing $27.84 million from the family company. Che Wan-fung, 27, had been head of accounting at Wai Key Knitting Co since September 1994, the District Court heard. He was responsible for transferring funds, handling ledgers and issuing, but not signing, cheques. 'But Che, who was in need of money for his own purposes, began to forge the signatures of his uncles, Ho King-kai and Ho King-chung, on company cheques,' prosecutor Liza Lai said. Che admitted forging company cheques worth $27.84 million from April 1, 1996, until June 19 last year. When confronted, Che admitted embezzling the money. He returned $11.7 million but the remainder had been lost in investment schemes. Che will be sentenced today by Judge Esther Toh Lye-ping.