Publisher denies fraud

THE publisher of Tin Tin Daily News, former legislative councillor Ho Sai-chu, his wife, and two others yesterday denied a fraud charge in the District Court.

Ho, 54, his wife Ko Tze-ha, 47, accountant Larry Ng Lit-fai, 37, and solicitor Stephane Hui Bon-hoa, 40, have denied a joint charge of conspiracy to defraud Tin Tin Yat Pao (International) Ltd, its shareholders and creditors by the appropriation of the company's assets for their own or each other's gain between January 1, 1987, and June 1, 1990.

The Crown's written opening presented to the court alleged Ho and his wife dishonestly gained control of Tin Tin Yat Pao (International), which owned the publishing rights of Tin Tin Daily News, assisted by Ng, who acted as their accountant, and Hui, who acted as their solicitor.

''Since January 1987, the Hos have been acting illegally as directors of International. They did not operate any kind of business through International, but simply used the company as a vehicle through which they could misappropriate funds for their own gain,'' the written opening stated.

It was alleged that a total of $3.1 million was misappropriated by means which included an agreement between Tin Tin Yat Pao International Ltd and Selina Ho Ltd, which was controlled by Ko. Under the agreement, Selina Ho Ltd was paid for services described as accounting, secretarial and administration.

One ''employee'' was Ko Tze-ping, the younger sister of Ko, who, the prosecution claimed, was not able to work and was an outpatient at the Psychiatric Department at Queen Mary Hospital.

The Crown further alleged that expense payments included $280 for Ho when he was given tickets by police for speeding and driving a vehicle without a valid licence.