The Independent Commission Against Corruption has arrested bankrupted jewellery tycoon Tse Sui-luen over allegations related to illegal commissions and tax evasion.
The anti-graft body said in a statement yesterday that the management of a listed company was suspected of offering kickbacks to employees at several travel agencies if they arranged for tour groups to visit the company's shops.
Although the company was not named in the statement, sources revealed that the ICAC arrested Mr Tse, former chairman of Hong Kong-listed Tse Sui Luen Jewellery (TSL), his son and incumbent chairman Tommy Tse Tat-fung, a former deputy chairman and three other company managers in an operation code named 'Pearl' on Tuesday.
Also taken into custody were three existing and former employees of a travel agency, believed to be S.K.Y. Travel, and two other unnamed individuals.
The ICAC said the company chairman might also face charges relating to the misappropriation of company funds totalling more than $2 million, while other employees were suspected of helping to cover up the alleged theft.
Calls to TSL and S.K.Y. were not returned yesterday.
