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Property tycoon Thomas Kwok guilty of corruption: HK court

HONG KONG — A Hong Kong jury found a billionaire property developer and a former top government official guilty of corruption today (Dec 19) after a high profile trial that amplified anger at the city’s elite.

Thomas Kwok, co-chairman of Hong Kong developer Sun Hung Kai Properties, arrives at the High Court in Hong Kong, Dec 19, 2014.  Photo: AP

Thomas Kwok, co-chairman of Hong Kong developer Sun Hung Kai Properties, arrives at the High Court in Hong Kong, Dec 19, 2014. Photo: AP

HONG KONG — A Hong Kong jury found a billionaire property developer and a former top government official guilty of corruption today (Dec 19) after a high profile trial that amplified anger at the city’s elite.

The property magnate Thomas Kwok was convicted of conspiracy for making HK$8.5 million (S$1.44 million) of payments to city official Rafael Hui.

At the time of the offences, Hui was Hong Kong’s No 2 official. He was found guilty on charges of misconduct and conspiracy to commit misconduct in public office. Kwok’s younger brother Raymond, also a billionaire, was found not guilty.

Anti-corruption police arrested and charged the Kwok brothers in 2012. Prosecutors alleged that the prominent developers gave bribes in exchange for lucrative information on pending land sales. They later slightly revised the charges, dropping the bribery charge against Raymond Kwok.

“I’m feeling very conflicted,” Raymond Kwok said outside the High Court. “I’m happy that the verdicts proved my innocence. On the other hand, I’m unhappy that Thomas Kwok was found guilty.”

The corruption scandal shocked the southern Chinese financial centre, where residents have traditionally revered the city’s tycoons. But widening inequality, much of it linked to skyrocketing housing costs in the densely populated city, means that has given way in recent years to public anger at the billionaire class.

The Kwok brothers, who are joint chairmen of Sun Hung Kai Properties, are two of the world’s wealthiest people. They have overseen construction of some of Hong Kong’s landmark buildings, including the Sun Hung Kai Centre.

Thomas Kwok was remanded in custody until Monday when the court will announce sentences. He could face a prison sentence of up to seven years.

Two middlemen, Thomas Chan and Francis Kwan, were found guilty of conspiracy charges. AP

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