Real estate moguls arrested for corruption

Rappler.com



Hong Kong’s anti-graft body arrested Thursday, March 29, two of Asia’s richest property developers, Thomas and Raymond Kwok. They are being investigated for alleged corruption. The Independent Commission Against Corruption (ICAC) said two senior executives and a former senior government official had also been detained in connection with alleged bribery offenses. “Another senior executive of the listed company and four others were earlier arrested for their alleged roles in the same case. While enquiries are continuing, no further comments will be made,” the ICAC said. The commission did not name the suspects but Sun Hung Kai Properties, the property giant co-chaired by the Kwok brothers, confirmed their arrest in a statement to the Hong Kong stock exchange late Thursday. Details in Rappler.

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