Hong Kong billionaire Kwok brothers facing trial

By KELVIN CHAN
Published on 09/03/2013 00:00

HONG KONG billionaire brothers, Thomas and Raymond Kwok, yesterday pleaded not guilty to corruption charges.

The case is now expected to be heard at the high court in the Chinese city.

The Kwoks are joint chairmen of Sun Hung Kai Properties, one of Hong Kong’s biggest developers.

Together they are estimated to have net worth of around £13 billion, making them the third richest individuals in Hong Kong, according to Forbes magazine.

They were arrested and charged by anti-corruption police last year. It is alleged the brothers bribed officials in exchange for information on pending land sales.

Three other defendantsalso pleaded not guilty to a slightly revised set of charges. They include Rafael Hui, formerly the second highest ranking government official in Hong Kong; a former senior officer at stock exchange operator Hong Kong Exchanges and Clearing; and an executive director at Sun Hung Kai. Hui is alleged to have provided land sale data to the Kwoks between 2005 and 2007.

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Hong Kong billionaire Kwok brothers facing trial

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