HK$30m bail case guarantor warned he might lose HK$5m after money launderer fled
Businessman faces losing HK$5m if he can't convince magistrate he did his best to ensure alleged money launderer did not abscond
One of two guarantors of a woman charged with money laundering who jumped bail of HK$30 million in January appeared in Tsuen Wan Court yesterday.
Both Hongkongers have been summoned to court to explain the disappearance of Zhao Danna, 22, who went missing while awaiting trial for allegedly laundering HK$10 billion using eight Bank of China accounts.
Sidney Siu Yim-kwan and fellow guarantor Chiu Duen-shing face losing HK$5 million each - HK$1 million in cash and HK$4 million in sureties.
"It is the guarantor's role to guarantee a defendant returns to court," acting principal magistrate Joseph To Ho-shing told businessman Siu, 66, who appeared yesterday without a lawyer.
To told Siu to return to Tsuen Wan Court on April 7 with Chiu to explain how they had tried to ensure Zhao would return, in order for the court to decide if or how much of their sureties would be forfeited.
Chiu appeared last week to obtain approval to adjourn his hearing to April 7. Zhao was required to live at his address as part of her bail conditions.
The court was not told her relationship to the pair.