Ex-director on fraud charge

A FORMER company director arrested at Kai Tak airport at the weekend after arriving from Singapore appeared in court yesterday charged with conspiracy to defraud.

Edward Lee Jim Teck, 42, former director of Kingsley Finance, is accused of conspiring with Victor Tan Khai Chong and others to defraud the Ka Wah Bank between May 1984 and November 1985.

It is alleged that the offence was committed by causing or permitting banking facilities to be granted to Lee without adequate security, by causing or permitting the account to be operated for the benefit of Tan and other directors of the bank and by causing or permitting the account to be operated without intention of repayment.

No plea was taken and Magistrate Michael Hill in Eastern Court adjourned the case until Friday pending legal advice.

Lee, who was granted bail of $200,000 cash and $200,000 surety, was ordered to surrender his travel documents.