Former Standard Chartered Head of Private Banking Charged for Accepting HK$150,000 Bribe
Former Standard Chartered Head of Private Banking (China), Ryan Gwee Yuan-kerr, has been charged by the ICAC (Hong Kong Independent Commission Against Corruption) for accepting a bribe of HK$150,000 from a client for handling bank accounts held by the client and companies. He faces one count of agent accepting an advantage, contrary to Section 9(1)(a) of the Prevention of Bribery Ordinance.
“ Former Standard Chartered Head of Private Banking Charged for HK$150,000 Bribe by Chinese Customer “
The incident occurred when Ryan was the Head of Private Banking of SCB China. He was responsible for leading a team and at the same time, directly manage customers and promote various banking services to them. On 11th August 2011, he accepted HK$150,000 from a then chairman cum major shareholder of an insurance company as a reward for handling his bank account and bank accounts of the companies.
The case arose from a corruption complaint and thereafter, subsequent ICAC enquiries revealing the above alleged offence.
About Standard Chartered
Standard Chartered Bank (LSE:STAN) was formed in 1969 through the merger of two separate banks, the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China. These banks had capitalised on the expansion of trade between Europe, Asia and Africa. Operating in around 67 markets around the world, Standard Chartered Bank provides a wide-range of products and services for personal and business customers and generates more than 90 percent of income and profits from Asia, Africa, and Middle East.
- Origin : London, UK
- Assets : $ 640.48 billion
- Revenue : $ 15.29 billion
- Employees : 84,000
Official Website: www.sc.com
News & Media: Press Release
Updated on 8th August 2016