Property moguls defendants in corruption case trial
Property developers William Kuan Vai Lam and Sio Tak Hong have been confirmed as additional defendants in the ongoing corruption trial of Li Canfeng, the former director of the Land, Public Works, and Transport Bureau (DSSOPT).
Back in December, the city’s anti-corruption watchdog discovered in the course of their investigation into suspected bribery that Li had allegedly received several high-value benefits from business people, both directly and through family members.
The Commission Against Corruption revealed that Li stands accused of several crimes, including receiving bribes for illegal activity, money laundering, and document forgery. The other individuals involved have also allegedly committed these crimes.
The investigation had led to the detention of the former director and “two other suspects” who had obtained the support and cooperation of mainland authorities.
Media reports noted that these two suspects were named Kuan and Sio.
In a recent note, the Court of Second Instance has rejected the bail applications filed by Li, Kuan and Sio.
Property mogul Kuan is the president of the board of directors of the Association of Property Agents and Realty Developers of Macau, as well as the developer of Sun Kian Ip Group.
The latter was established by Ng Lap Seng, who made headlines back in 2017 for bribing two UN ambassadors to pave the way for building a multibillion-dollar conference center in Macau.
Kuan also holds various positions in the real estate sector, as well as being the owner of the Capitol Theater.
Sio is the executive chairman of the board of Capital Estate Ltd., an investment holding company that engages in the property investment and development, hotel operation, financial investment, and related activities in mainland China, Hong Kong, and Macau.
The property mogul is also the chairman of the board of Hotel Fortuna Limited in Macau, as well as a standing committee member of the Chinese People’s Political Consultative Conference of Guangdong province.
