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Thursday, March 20, 2014, 12:52
Guarantor may lose HK$5m as suspect absconds
By chinadailyasia.com

HONG KONG - Hong Kong businessman Sindey Siu Yim-kwan, a former chairman of Pok Oi Hospital, was warned of the risk of losing HK$5 million on Wednesday if a young mainland woman involved in a HK$10-billion money laundering case failed to appear in court.

The 22-year-old woman, Zhao Danna, entered Hong Kong as a two-way permit holder. She is facing eight counts of dealing with property known or believed to represent proceeds of an indictable offence. The prosecution said the total amount involved had reached HK$10 billion.

Zhao was arrested in June last year and released on a HK$30 million bail in December, 2013. The HK$30 million includes the money and assets put up by her two guarantors, Siu and Zhao’s uncle Chiu Duen-shing. They each forked out HK$1 million in cash and HK$4 million in sureties as a pledge that she won’t abscond. However, Zhao hasn’t reported to police since January or showed up for a scheduled court hearing on Feb 19.

Siu was warned by Tsuen Wan Magistrates’ Court on Wednesday that the court might forfeit his HK$5 million if he failed to make make Zhao appear in court. Outside the court, Siu said he didn’t know Zhao directly but was acquainted with her husband and father-in-law. As far as he knew, she was helping a friend to run a company in Hong Kong.

 
 
 
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