Thursday, April 8, 2010

KPMG makes the news with Hontex

Investors in HK/China sure need to dodge a lot of arrows... first from E&Y with Akai and now KPMG.

The ICAC said Leung Sze-chit, a senior manager at KPMG in Hong Kong, offered a HK$100,000 bribe to a subordinate "as a reward for preparing the accountant's report for the global offering of Hontex".

Laughable that the HK Legislator for Financial Services Chim Pui-chung gets into the act by farting "Who is checking things?". The same Chim Pui-chung who has served time in jail for.... fraud. Whose interests would this character have at heart?

Also laughable that there is some activity trying to airbrush history from the Wiki..

"He was also the legislative councillor from 1991 to 1998 until he was jailed for [[Conspiracy (crime)|conspiring]] to forge documents in 1998.[http://legalref.judiciary.gov.hk/lrs/common/ju/ju_body.jsp?DIS=3934 HONG KONG/SAR COURT OF APPEAL] After his release in 1999, he was re-elected unopposed to the legislative councillor in financial services constituency in 2004.[http://www.asiasentinel.com/index.php?option=com_content&task=view&id=1178&Itemid=32 Hong Kong's Bureaucrats and the Stock Exchange]"

No comments:

Post a Comment