Malaysian accused of possessing false US$516m bank statement

A Malaysian man faced Eastern Court yesterday over an allegedly fake bank document involving US$516 million that was discovered in a probe into the collapse of the Hong Kong Mercantile Exchange (HKMEx).

Ong Shen Kuo, 59, is the seventh person arrested in the case.

The Malaysian passport holder was accused of possessing a false "proof of funds" statement, dated last year, which showed that a sum of US$516 million had been deposited into his account.

Prosecutor Ira Lui Tsz-ming said Ong, who is retired, travelled to Hong Kong frequently, but rarely stayed for more than two days at a time.

Lawyer Yuen Chi-keung, for Ong, said outside court that he had yet to apply for bail for Ong.