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ICAC Arrests 22 People for Suspected Corruption in Grand Renovation Projects, Blocking $100M+ in Contracts
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The ICAC combated suspected corruption and other related illicit activities involving the grand renovation projects of seven housing estates and buildings across the territory, arresting a total of 22 individuals. The arrestees included the directors and staff members of four project consultancy firms and three project contractors, as well as some of the chairpersons of incorporated owners (IO) of the estates and buildings concerned. The operation involved the grand renovation projects at three housing estates, three residential buildings and an industrial building across the territory in Tsuen Wan, Sham Shui Po, Tai Kok Tsui, San Po Kong, Kwun Tong, Sheung Wan and Shau Kei Wan. The individual contract sum ranged from $2 million to over $100 million, while the total contract sum amounts to over $200 million. Two of the projects, worth totalling over $100 million, were still at the preparatory stage. The ICAC’s operation prevented the award of the two contracts concerned. AASTOCKS Financial News |
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