Former JPMorgan banker charged with bribery relating to Kerry Logistics’ IPO appears in court
- Catherine Leung Kar-cheung, the former managing director of JPMorgan Securities (Asia Pacific), released on bail of HK$20,000
- Prosecutors want case to be transferred to the District Court, seek adjournment till June 28
A former managing director of JPMorgan Securities (Asia Pacific), charged with bribery for allegedly hiring the son of a former chairman of Kerry Logistics Network as a favour to help win work on the company’s IPO, appeared in the Eastern Magistrates’ courts on Monday.
Hong Kong’s anti-graft body, Independent Commission Against Corruption, on Monday pressed two charges against JPMorgan’s Catherine Leung Kar-cheung, 51, for bribing Ang Keng-lam, the then chairman of Kerry Logistics’, by employing his son Ang Ren-yi, principal magistrate Peter Law Tak-chuen heard.
The charges allege that on January 19, 2010, and between June 2010 and October 2011, Leung offered to hire Ang Ren-yi as a reward for Ang Keng-lam showing favour to JPMorgan in hiring the bank for Kerry Logistics Network’s IPO work.
The prosecutor did not mention the job or title, but Bloomberg data showed that Ang junior was employed as an analyst at the bank covering energy and natural resources. He has been an executive director at Beijing Properties Holdings Limited since December 19, 2012.
Jason Tsang Wa-chan, a senior investigator at ICAC, who represented the prosecution side, requested that the case be transferred to the District Court and sought an adjournment till June 28.
