Joseph Lau, the billionaire chairman of Chinese Estates Holdings Ltd., will stand trial for bribery and money laundering in Macau in connection with a land purchase in the world’s biggest gambling hub.
Macau’s Court of Criminal Instruction accepted charges brought by the public prosecutor against Lau, rejecting a request to dismiss the case on lack of evidence, the developer said yesterday in a statement to the Hong Kong stock exchange. Chinese Estates didn’t immediately respond to a fax request for comment from Lau.
