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Enoch Yiu

A former director of Convoy Global Holdings, a key figure in the HK$715 million (US$91 million) legal battle involving surrounding Hong Kong’s biggest financial scandal in decades, has re-emerged in the city after being unreachable for a year.
“There are some people who use various reasons to try to contact myself or my family in what amounts to harassment,” said Dr Roy Cho Kwai-chee, in a quarter-page advertisement on Wednesday in the Chinese language daily newspaper Sing Tao Daily.

Cho, whose whereabouts are not known, said in his advertisement that he had engaged the law firm KCL & Partners to protect his reputation, and that he would take legal action to defend himself and his family.
The law firm did not respond to several requests by South China Morning Post to contact Cho.
Convoy sues ex-directors for stealing from financial adviser’s US$520m stock placement
Trading in Convoy’s shares had been suspended in Hong Kong since December 2017, after the Independent Commission Against Corruption (ICAC) and the Securities and Futures Commission (SFC) initiated a joint action to investigate it for corruption and market misconduct. The agencies raided Convoy's office in December 2017 and arrested four people, including Convoy's former chairman Quincy Wong Lee-man. The company has since appointed a new team of senior managers.
Explainer: Who’s who in the tangled web of the Convoy enigma
Convoy’s senior officials, led by chairman Johnny Chen Chi-wang, have filed writs against Cho and other related parties involved in a complex network of companies for their role in the company’s HK$4.043 billion (US$520 million) private placement in 2015.
In one of the writs, Convoy claims HK$715 million in compensation from Cho and 12 others – nine persons and three companies – for a series of transactions that had led to losses at Convoy Collateral.
Cho was dismissed from Convoy’s board last year after the company, the largest independent financial consultant in Hong Kong, could not contact him.
Formal hearings on these writs is expected to begin early next year.
The High Court last week began hearings involving the second largest shareholder in Convoy Global Holdings, Kwok Hui-kwan, who has launched a bid to overrule the company chairman’s decision in December 2017 to revoke his voting rights.


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Shares of Convoy Global Holdings, one of Hong Kong’s largest financial advisory firms, have been suspended from trading in Hong Kong since early December 2017. Photo: Bloomberg

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Performance of key MPF fund classes in July (%) Month-on-month Year-to-date Asia (ex-Japan) equity fund Asia bond fund China equity fund European equity fund Global bond fund Global equity fund Grater China equity fund Lifestyle fund (40%-60% equity) Lifestyle fund (80%-100% equity) DIS - Core accumlation fund * Performance is culculated from April 3 to July 25 Sources: Convoy, MPFA, Thomson Reuters Lipper SCMP

Press briefing by the executives of Convoy Financial Services Limited, featuring Chief Executive Officer Henry Shin Kin-man (left); Group President and Executive Director Ng Wing-fai (middle) and Interim Chairman and Executive Director Johnny Chen Chi-wang (right), in Fortress Hill. Photo: SCMP / Winson Wong

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Pedestrians walk past the "@Convoy" building, which houses the headquarters of Convoy Global Holdings Ltd., in Hong Kong, China, on Monday, Dec. 11, 2017. Convoy confirmed that three executive directors were arrested by the anti-corruption agency, including Chairman Wong Lee Man, according to a filing late Friday. Photographer: Anthony Kwan/Bloomberg

Quincy Wong, chief executive officer of Convoy Financial for XXIV watch magazine. 23JUN15

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Convoy sues executives for theft, ratcheting up its clean-up effort before a boardroom showdown

Pedestrians walk past the "@Convoy" building, which houses the headquarters of Convoy Global Holdings Ltd., in Hong Kong, China, on Monday, December 11, 2017. Convoy confirmed that three executive directors were arrested by the anti-corruption agency, including Chairman Wong Lee Man, according to a filing late Friday. Photo: Bloomberg

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Johny Chen (Centre), Chairman of Convoy Global Holdings speaks to the media after an Extraordinary General Meeting for shareholders, at Hutchison House in Central. 29DEC17 SCMP / Roy Issa

Chairman and Executive Director Quincy Wong Lee-man attends Convoy Financial Services Holdings Ltd. press conference on proposed main board listing on the SEHK Monday June 28th, 2010, at the Convoy Wealth Centre on Des Voeux Road Central in Sheung Wan. 28JUN10

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Hong Kong shares of Convoy were suspended on December 7, after its stock dropped 7.2 per cent in a single day. Photo: Bloomberg

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Convoy former director Roy Cho Kwai-chee places quarter-page ad in Chinese language daily newspaper Sing Tao Daily


Convoy former director Roy Cho Kwai-chee places quarter-page ad in Chinese language daily newspaper Sing Tao Daily.


Independent Commission Against Corruption (ICAC)

Banking & finance

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Crime in Hong Kong

Key figure in Hong Kong’s biggest financial scandal at Convoy Global surfaces in a newspaper advertisement to defend himself

.css-1mniedq{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;}Convoy former director Roy Cho Kwai-chee places quarter-page ad in Chinese language daily newspaper Sing Tao Daily

Convoy former director Roy Cho Kwai-chee places quarter-page ad in Chinese language daily newspaper Sing Tao Daily