An alleged $14 million fraud, involving a former vice-president of Bank of America (Asia) and seven senior executives from a number of companies, was yesterday moved up to be heard at the District Court.
The eight defendants - including former Bank of America vice-president Chiu Yu-man - will enter their pleas at the court on March 16 after being charged by the Independent Commission Against Corruption (ICAC) last month.
A count of 52 charges have been laid against the defendants following the alleged offences which took place between November 1995 and June 1996.
The ICAC claims 20 charges involve a plot to defraud Bank of America (Asia) into issuing letters of credit by using falsified claims that they related to genuine business contracts.
The remaining 32 charges involve the alleged laundering of $14 million raised as a result.
Magistrate Garry Tallentire yesterday adjourned the case at Eastern Court to be heard at the District Court.