Barry Cheung, the chairman and largest shareholder of Hong Kong’s failed commodities exchange that is being investigated by police, said it had received false financial documents.
“We have been victims in all of this,” Cheung said by phone today. “We were provided with documents we did not know were false.”
Hong Kong Mercantile Exchange surrendered its trading license in May after failing to attract sufficient revenue to support its operations and police have arrested nine and charged four in connection with the case. Ong Shen Kuo, who sent Cheung a false proof of funds for $516 million, was a middle man who didn’t know it was fake, his lawyer told a Hong Kong magistrates court.
Ong sent the document in hopes of helping to broker a fundraising deal on behalf of Cheung, Ong’s lawyer Kevin Egan said today.
Cheung, who resigned in May from all his public service positions including Hong Kong’s executive council, declined to comment on the specific case involving Ong.
“It’s unfortunate that every time this is mentioned we get dragged in,” he said. “We had nothing to do with it other than being provided with the false documents.”
To contact the reporter on this story: Eleni Himaras in Hong Kong at firstname.lastname@example.org