Corruption Probe
The Hong Kong business community was shaken by the arrest of SHK Executive Director Thomas Chan by the Independent Commission Against Corruption (ICAC) on 19 March. There were further shock waves when eight people linked to the company in the afternoon on 29 March 2012. Co-chairmen Thomas and Raymond Kwok and five others were arrested by the ICAC as part of an extensive corruption probe. Rafael Hui, former chief secretary, was also taken in for questioning. They were later released on bail. The probe caused a 15 percent fall in the company's share price, and a downgrading of the company's outlook.
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Famous quotes containing the words corruption and/or probe:
“The time to guard against corruption and tyranny, is before they shall have gotten hold on us. It is better to keep the wolf out of the fold, than to trust to drawing his teeth and talons after he shall have entered.”
—Thomas Jefferson (1743–1826)
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—Martin Berkeley, and Jack Arnold. Helen Dobson (Lori Nelson)