Roy Cho, alleged Enigma Network mastermind of Hong Kong’s biggest fraud case, claims trial as he pleads innocence
- Cho and his associates Christie Chan Lai-yee and Byron Tan Ye-kai are free on bail
- Trio could face seven years in jail if convicted
Roy Cho Kwai-chee, the alleged mastermind in the fraud involving Hong Kong’s largest independent financial advisory firm Convoy Global Holdings, pleaded not guilty along with two associates at a court hearing on Thursday.
The trial will take place on May 4 next year. No further details were disclosed and the trio continue to be released on bail.
If convicted, the District Court can impose jail sentences of up to seven years on each of them.
Cho, 55, a former executive director at Convoy, was charged by the Independent Commission Against Corruption in May. The same charges were levied against his associates, Christie Chan Lai-yee, 46, a former chief financial officer at Convoy, and Byron Tan Ye-kai, 51, a former executive director at the company.
Cho conspired to defraud Convoy and its affiliates, leading the company to invest more than HK$89 million (US$11.3 million) on the acquisition of True Surplus International, an investment firm, in September 2016, according to a court document presented by the prosecuting lawyer before Judge Ernest Lin Kam-hung.