PracticeAccounting FirmsKPMG HK employee faces bribery charge

KPMG HK employee faces bribery charge

Hong Kong senior manager allegedly paid colleague HK$100,000 over Hontex IPO

A KPMG Hong Kong employee has been charged with bribing a colleague over the
IPO of a Chinese fabric maker.

The Independent Commission Against Corruption claims that Leung Sze-chit, a
32 year-old senior manager at the firm offered a subordinate HK$100,000 over the
floatation of Hontex International, which raised HK$1bn in December last year.

The firm uncovered the alleged payment through its internal hotline,
suspended the staff member and reported the matter to the authorities. KPMG is
co-operating fully with the subsequent inquiries, reports the
FT.

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