Christopher Ho Wing-on is a rich man, allegedly worth more than US$500 million. But he was accused in court of partially building his fortune by siphoning assets from disgraced tycoon James Ting's failed electronics empire Akai Holdings in the late 1990s.
Ho also has deep past links with Ernst & Young Hong Kong, Akai's former auditor that last month paid about US$400 million to settle a separate audit negligence case brought against it by the collapsed electronics company's liquidator, Borrelli Walsh.
Ho and his company, Grande Holdings, do not admit any liability.
In November 1999, two months before Akai's banks realised the company was insolvent and began proceedings to wind up the company, Ho and Ting signed an agreement transferring all of Akai's businesses to Grande, according to a 2001 High Court ruling.
Grande makes its money from licensing the Akai and Sansui trademarks to electronics manufacturers and managing the distribution of these branded goods, according to its most recent annual report.
The Hong Kong stock exchange has never publicly investigated the asset transfer.
Ho was a partner with Ernst & Young until 1990. He was also Akai's audit engagement partner at the company.
