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Thomas and Raymond Kwok charged in corruption scandal | Thomas and Raymond Kwok charged in corruption scandal |
(40 minutes later) | |
Two billionaire property developers in Hong Kong have been charged with bribery-related offences in a high-profile corruption case. | Two billionaire property developers in Hong Kong have been charged with bribery-related offences in a high-profile corruption case. |
Thomas and Raymond Kwok, co-heads of Sun Hung Kai Properties, are currently in court where charges are being read. | |
Authorities allege they gave bribes in exchange for information on land sales between 2005 and 2007. The brothers have previously denied the allegations. | Authorities allege they gave bribes in exchange for information on land sales between 2005 and 2007. The brothers have previously denied the allegations. |
Sun Hung Kai is Asia's most valuable real estate company. | Sun Hung Kai is Asia's most valuable real estate company. |
Rafael Hui, formerly Hong Kong's second highest ranking government official, has also been charged. | Rafael Hui, formerly Hong Kong's second highest ranking government official, has also been charged. |
The brothers appeared before the city's anti-corruption agency earlier on Friday. | The brothers appeared before the city's anti-corruption agency earlier on Friday. |
The two men left after their appearance at the Independent Commission Against Corruption without making any comments. | The two men left after their appearance at the Independent Commission Against Corruption without making any comments. |
Mr Hui, the Kwok brothers and two other businessmen face eight charges including conspiracy to offer advantages to a public servant and misconduct in public office. | Mr Hui, the Kwok brothers and two other businessmen face eight charges including conspiracy to offer advantages to a public servant and misconduct in public office. |
The brothers were taken into custody in March but are out on bail. | The brothers were taken into custody in March but are out on bail. |
Trading in shares of Sun Hung Kai were suspended shortly after the markets opened in Hong Kong. | Trading in shares of Sun Hung Kai were suspended shortly after the markets opened in Hong Kong. |