ICAC charges ex-Greentown China chairman over alleged bribe
HK01 · 6 SOURCESabout 4 hours ago5 MIN
Summary
Hong Kong's Independent Commission Against Corruption has charged Zhang Ya-dong (張亞東), former chairman of Greentown China Holdings Ltd, with conspiracy for an agent to accept an advantage over an alleged HK$20 million bribe arrangement tied to a Dalian real-estate deal. The case was mentioned at Eastern Magistrates' Courts on Friday, October 9, after investigators alleged the payment helped secure Greentown China's acquisition of a local developer's equity for RMB440 million.
Key Points
- The 58-year-old defendant, Zhang Ya-dong, was charged with one count of conspiracy for an agent to accept an advantage under the Prevention of Bribery Ordinance and the Crimes Ordinance.
- Prosecutors allege that between January 2020 and March 2023, Zhang conspired with an intermediary, a Dalian property developer shareholder and Zhang's son.
- The alleged conspiracy involved accepting HK$20 million from the shareholder to cause Greentown China to obtain the developer's equity in the project.
- ICAC said the shareholder had been pitching the Dalian property project to Greentown China since 2019, before Zhang allegedly sought a bribe through the intermediary.
- Investigators suspect the alleged bribe was transferred in multiple payments through the intermediary into Zhang's son's bank account, while Greentown China gave full assistance during the probe.
Why It Matters
The case puts the spotlight on anti-bribery controls around major listed-company transactions handled in Hong Kong, especially where offshore or mainland property assets are involved. It also keeps attention on Greentown China after the company disclosed in June that ICAC officers had executed a search warrant at its main Hong Kong office on June 17