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Thomas and Raymond Kwok charged in corruption scandal Thomas and Raymond Kwok charged in corruption scandal
(about 3 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.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.The Kwok brothers head Sun Hung Kai Properties, Asia's most valuable real estate company.
The Hong Kong media turned out in force to see five of the city's most powerful men face a judge at the Eastern Magistrates Court on graft charges.
No pleas were entered. Four of the men walked past the crowd of journalists and into their cars. Only Raymond Kwok faced the cameras to declare his innocence.
The corruption case is the biggest Hong Kong has ever seen. Long-time politics watchers tell me they are in shock that men at the top of the political and business elite like Mr Hui and the Kwok brothers would be held to account in this manner.
The media circus will begin again in October, when the trial resumes. Already, there is talk of wider political fallout.
The new chief executive CY Leung will be under even more pressure to tackle misbehaviour among government officials. Earlier this week, a minister resigned after being arrested by the anti-corruption watchdog over a property scandal.
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.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.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 ICAC statement.The above offences allegedly took place between June 2000 and January 2009, said an ICAC statement.
The brothers were taken into custody in March but are free on bail.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.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.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.