AN accountant who embezzled more than $1.1 million from his employers yesterday offered his $700,000 flat as repayment. Chu Chiu-keung, 32, pleaded guilty in the District Court to eight counts of forging signatures on cheques. Between October 1990 and October 1991 Chu stole the money from two bank accounts held by his employer, King Chain Enterprise Limited. He transferred the cash to his own accounts or used it to pay off debts incurred on the bullion and forex markets. Only $104,900 was recovered. Defence counsel Mr Alan Hoo, QC, offered to transfer ownership of Chu's flat to the victim company. The move was supported by Mr Rodney Griffith, prosecuting, who said it would be a strong mitigating factor for Chu to repay the money. Judge Kilgour agreed and adjourned sentence until April 14 for a background report.
