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Property tycoons go on trial in Hong Kong

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Property tycoons go on trial in Hong Kong

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Published by Max Salsbury for 24dash.com in Housing

Government to 'help halt court actions' on home repossessions Government to 'help halt court actions' on home repossessions

The most high profile corruption trial in Hong Kong’s history started Thursday, with the defendants pleading not guilty to bribery charges relating to payments and loans of HK$34 million (around £2.5m), the South China Morning Post reported.

Property tycoons Thomas Kwok Ping-kwong and Raymond Kwok Ping-luen, chairmen of Sun Hung Kai Properties (SHKP), are standing trial along with former chief secretary Rafael Hui Si-yan, who allegedly received cash from the brothers between 2000 and 2009, the paper said.

The Kwok family owns part of the Seagrave Road site, which is the first phase of the controversial Earl’s Court redevelopment back in London.

Hundreds of reporters were at the Court of First Instance for the opening of the trial.

Hui and the Kwoks were arrested in March 2012. The trail is scheduled to last until mid-July.

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