Businessman jailed for six years over $80 million theft

The managing director of a listed company who stole $80 million to settle personal debts incurred from securities was jailed for six years yesterday.

John Chan Boon-ning, 36, was also disqualified from being a director of any corporation in the SAR for eight years. Chan, a managing director of Fairyoung Port Investment Ltd, was previously convicted of three charges of theft and four of false accounting. He had denied all the charges.