SHKP former chairman Walter Kwok
Hong Kong’s highest-profile corruption case in decades took another turn on Friday, whenSun Hung Kai Properties (SHKP) said that its former chairman Walter Kwok had also been arrested.
According to a statement from SHKP, the eldest of the three Kwok brothers was arrested by the Independent Commission Against Corruption (ICAC) on May 3 in connection with its investigation into alleged bribery. The company said the arrest would not affect the normal business and operations of SHKP. Trading in shares of the blue-chip property developer and its affiliated unit SUNeVision were suspended until 1 p.m.
Walter’s two brothers, Thomas and Raymond, were arrested by the ICAC in late March, along with Thomas Chan, an executive director of the company, and Rafael Hui, formerly the city’s No. 2 government official.
During a press conference in early April, Raymond said he and his brother Thomas had done nothing wrong and hoped the investigation would prove their innocence without providing any further information.
Walter is a non-executive board member of SHKP. He had been the company’s chairman for close to two decades, until a feud with his brothers saw him replaced by their mother, Kwong Siu-hing, in 2008. Thomas and Raymond were elected joint chairmen during the company’s last annual general meeting in December, when the family matriarch stepped down from the post. Walter was also removed as a beneficiary from the Kwok family’s trust, but he continues to contest this. The Kwok family was ranked No. 3 on the Hong Kong Rich List in January, with a net worth valued at $15.4 billion.
From: http://2013rainbowroundtable.ning.com/profiles/blogs/another-arrest-for-billionaire-kwok-family
Replies
Well at least its a start but have to agree with "One".
I must agree with 1, also.
This article is confirmed in MSM on MSNBC. However I urge people to keep in mind that people arrested for breaking laws does not prove aliens are working in the background to change the world. Humanity is quite capable of holding its own revolutions as evidenced throughout our history. Arrested criminals are not evidence for alien intervention. Actual public alien contact is what is required for that to be proven. It is good to see people being arrested for their financial crimes however we must also keep in mind this man is already out on bail and could "disappear" anytime.