Wai Hung clears names surrounding controversial fraud arrest

Hong Kong’s Independent Commission Against Corruption

Following controversies surrounding the Wai Hung Group Holdings, the company has clarified that Rita Santos, president of the regional council of the Portuguese Communities for Asia and Oceania and lawmaker Wu Chou Kit “are absolutely not involved in the related case and have not been investigated or arrested by law enforcement agencies.”

Santos and Wu are identified on the group’s website as independent non-executive directors.

To Plataforma, Santos clarified she is “merely one of the three independent non-executive directors in office” and that she was only made aware of the investigation by the authorities of Macau and Hong Kong, during an “online board meeting.”

“I have nothing to do with this investigation,” she stated.

Wu has also denied involvement in the fraud case.

The lawmaker issued a statement claiming recent media reports of his investigation or arrest related to the case are “untrue,” and said he reserves the right to take legal action

Meanwhile, the Hong Kong firms’ statement said Lam Chi Wing, another non-executive director, was not involved either.

The statement comes after Hong Kong’s corruption watchdog disclosed that it has apprehended seven executives suspected of engaging in fraudulent transactions and false accounting totaling HKD120 million.

Hong Kong sources said persons arrested include its chairman Li Kam-hung, executive director Yu Ming-ho, and accountants.

The company then clarified that the three non-executive directors, including Santos and Wu “had no knowledge of any actions related to the investigation and arrest of the Chairman, Mr. Li, and another executive director prior to the board meeting held on 22 August, 2024.”

The company described itself as a contractor providing fitting-out, repair and maintenance services in Macau, with casinos and hotels among its clients.

The company said the three non-executive directors are only responsible “for overseeing our group with an independent perspective and judgment.” LV/VC