Disgraced businessman Jason Wong But-sit has failed to clear his name after the Court of Appeal upheld his conviction for false accounting yesterday. Mr Wong was the former CA Pacific chief, accused of stealing HK$248.9 million in late 1997 from CA Pacific Finance to fund the HK$1.24 billion purchase of Central's Century Square. In a dramatic turn of events, a Court of First Instance jury unanimously acquitted Mr Wong of stealing the money but convicted him of falsifying the loan agreement. The loan agreement was between CA Pacific Finance and China Star Consultants, an offshore company set up to purchase the building on CA Pacific's behalf. It lent HK$373 million to China Star. The jury also convicted Mr Wong's estranged wife Elizabeth Kong Suk-yee on a charge of false accounting over the loan agreement. Mr Justice Gareth Lugar-Mawson handed Mr Wong and Ms Kong suspended two-year jail terms. In attempting to quash their false accounting convictions, the pair argued before the Court of Appeal that the judge had made several errors in his summation to the jury. Counsel for the couple argued Mr Justice Lugar-Mawson had erred in his directions to the jury on the question of gain and loss and its role in the false accounting charge. The court was told the jury had been given no clear direction as to what they should look for in deciding whether there was a loss or gain. But Mr Justice Frank Stock dismissed the appeals. 'We are satisfied that the complaints are without substance and are, again, complaints which take little account of the realities of, and the true issues in, the case,' he said. Mr Justice Stock also brushed aside submissions that Ms Kong's chances for a fair trial had been tainted by outside publicity consisting of posters in Queen's Road about Ms Kong. He added he was 'surprised' such a ground had been advanced after the issue was raised during trial and dealt with by Ms Kong's counsel. During the trial, Mr Wong's defence had been that the group, which his family had built from scratch, had decided to buy the building and gave him full authority to gather the loans and make the initial HK$248 million deposit. The charges were laid after Mr Wong's elder brother and then chairman of Capital Asia, Alex Wong Ching-ping, informed police at the end of January 1998 of alleged loan irregularities. Within a week of Alex Wong talking to the Commercial Crime Bureau Mr Wong and Ms Kong were arrested. Their marriage dissolved before the end of the January 2000 court case.