Imprisoned Billion Finance boss Simon Chan Ying-ming had an extra 23 months slapped on his jail term yesterday after being criticised by an appeal judge for his 'reckless greed and ambition'.
The rogue businessman was originally jailed last December at the District Court for six months after running a bogus bank which squandered $100 million of depositors' cash.
However, Chan will not walk free on April 12 as planned after a bid by the Secretary for Justice to increase his jail term succeeded at the Court of Appeal.
In total, he will spend two years and five months behind bars.
Mr Justice Noel Power dubbed Chan's crime of 'considerable gravity', and described him as being 'driven by reckless greed and ambition'.
The former chairman of Billion International Holdings had admitted his guilt in flouting the law by soliciting and taking cash deposits from clients without the authority to do so.
Billion Finance was set up as a money lending business in 1993, but by 1995 the company was taking deposits from the public.
