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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, co-heads of Sun Hung Kai Properties, are currently in court where charges are being read. 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.
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 Kwok brothers head Sun Hung Kai Properties, Asia's most valuable real estate company.
The two men left after their appearance at the Independent Commission Against Corruption without making any comments. 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 brothers were taken into custody in March but are out on bail. 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.
Trading in shares of Sun Hung Kai were suspended shortly after the markets opened in Hong Kong. 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.