Bail paid to keep former high-flying investment banker Ewan Launder out of jail has been slashed by more than half to $2.4 million - and is now earning interest.
A court hearing had to be scheduled to rectify a 'glitch' in the system which originally meant the money was not in an interest-bearing account, according to senior Government counsel Gordon Shiu.
The cash bail and $5 million surety are now accruing interest following the hearing, held behind closed doors.
Launder was originally released on the surety and cash bail of $6 million in April. The bail had since been cut to $2.4 million, Mr Shiu said.
The 62-year-old former chief executive of Wardley is facing 13 corruption charges relating to $43.95 million he allegedly took in bribes from former Carrian boss George Tan Soon-gin and two others.
Carrian's $1.8 billion failure gave Hong Kong its biggest corporate collapse and sparked a 13-year legal battle which saw Tan jailed for three years.
