Canto-pop concert promoter Abba Chan Tat-chee is expected to testify today against his three alleged co-conspirators over the misappropriation of more than HK$72 million from Hong Kong-listed China Science Conservational Power (CSCP).
Chan, 60, also known as 'Uncle Ba' for his work in the entertainment industry, will be a key prosecution witness in the trial of Hon Ming-kong, 41, former chairman of CSCP, Anthony Chow Ho-tung, 48, executive director and financial controller of CSCP, and Kan Lai Lai-kan, 40, an employee of a subsidiary company, Sharpo Solutions.
Chan was appointed chairman of CSCP in February 2004 after acquiring 52.6 per cent of the company's shares. He became the company's executive director in November that year.
In September 2006, he admitted misappropriating more than HK$25 million from the listed company and pleaded guilty to six charges of conspiracy to defraud, conspiracy to steal, theft, and money laundering.
He is expected to be sentenced on the conclusion of the present trial.
Yesterday, the three accused pleaded not guilty to 14 charges, including conspiracy to steal, conspiracy to defraud, and publishing a false statement in the company's 2004 annual report.
Prosecutor John Dunn told District Court Judge Stanley Chan Kwong-chi the three had stolen at least HK$14 million from CSCP between January 2004 and May 2005.