Five deny Hong Kong investment immigration fraud conspiracy
SingTao · 2 SOURCESabout 2 hours ago5 MIN
Summary
Five defendants pleaded not guilty on Monday at West Kowloon Magistrates’ Courts, sitting as a temporary District Court, to a total of 11 conspiracy to defraud charges linked to Hong Kong’s former Capital Investment Entrant Scheme. Prosecutors allege a former immigration consultancy owner and staff helped 11 mainland clients overstate or falsely present HK$10 million bond investments in applications to the Immigration Department, leading to residence approvals and later visa extensions.
Key Points
- The five defendants are former Richful Consultant (Greater China) Limited sole director and shareholder Tam Chi-ming (談智鳴), consultant So Tai-kit (蘇大杰), and applicants Li Ju (李菊), Wei Xinwen (魏新文) and Zhang Pingping (張萍萍).
- Tam faces 11 conspiracy to defraud charges, So faces two, and Li, Wei and Zhang each face one, with the consolidated case opening on September 14
- The prosecution said the 11 applicants submitted forms between 2013 and 2015, then declarations in 2018 stating they had subscribed HK$10 million in bonds issued by China Tian Chemical Group Limited
- Immigration approvals were granted to the 11 applicants and their families in 2018 and 2019, and stay extensions were later approved between 2020 and 2024 after further signed declarations were filed
- Bank records showed the applicants lacked sufficient funds unless Tam, Tam’s mother or Richful staff provided about HK$4.85 million to HK$9.71 million each; the consultancy side allegedly received HK$12.225 million in commission and bond interest
Why It Matters
The case goes to the integrity of a former immigration route that offered residence rights and, after seven years of continuous ordinary residence or compliance with investment rules, possible permanent residency or unconditional stay in Hong Kong. The trial is also likely to focus attention on whether declared qualifying investments were genuinely funded by applicants rather than by hidden loans, subsidies or side arrangements barred by the scheme.