This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/business-18824276#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa
The article has changed 6 times. There is an RSS feed of changes available.
Version 2 | Version 3 |
---|---|
Thomas and Raymond Kwok charged in corruption scandal | Thomas and Raymond Kwok charged in corruption scandal |
(about 2 hours 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 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. |
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 Kwok brothers head Sun Hung Kai Properties, Asia's most valuable real estate company. | |
Their net worth is in the tens of billions of dollars, reports the BBC's Juliana Liu in Hong Kong. Their firm is behind two of the tallest buildings in Hong Kong, a place known for its towering skyscrapers. | |
The brothers appeared before the city's Independent Commission Against Corruption (ICAC) earlier on Friday. The two men left 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 above offences allegedly took place between June 2000 and January 2009, said an href="http://www.icac.org.hk/en/news_and_events/pr2/index_uid_1311.html" >ICAC statement. | |
The brothers were taken into custody in March but are free on bail. | |
Trading in shares of Sun Hung Kai was suspended shortly after the markets opened in Hong Kong. | |
Their prosecution set in train the highest-profile corruption case the city has ever seen, at a time of widespread anger about perceived collusion between the government and property tycoons, says our correspondent. |