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Challenge could see Wong's life go down the tube

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Why you can trust SCMP

It looks as if Jason Wong But-sit's luck is running a bit dry.

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The former 'boss' of CA Pacific - the family-run brokerage that spectacularly crashed back in 1998 - is facing yet another day in court.

Mr Wong may have thought the tables turned in his favour when he walked free from the High Court in 2000 with a suspended sentence for false accounting.

The jury had found that, yes, he did make a bogus loan agreement but, no, he wasn't guilty of then using it to steal HK$248 million from CA Pacific Finance.

This sum was needed to fund the HK$1.24 billion purchase of Central's Century Square building in late 1997.

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Mr Wong found himself on the wrong side the law after his brother Alex called the cops.

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