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Chinese Estates Chairman Charged With Bribery in Macau

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.