Rafael Hui negotiated a private consulting agreement with the billionaire brothers running Sun Hung Kai Properties Ltd. at the same time the Hong Kong pension authority he headed agreed to renew its lease with the company in 2003, the city’s High Court was told.
Hong Kong’s anti-corruption agency searched a JPMorgan Chase & Co. office in the city March 26 amid a U.S. investigation into the bank’s hiring practices, according to two people with knowledge of the matter.
Thomas and Raymond Kwok, the billionaire brothers who run Hong Kong’s second-largest developer, used sham contracts to disguise millions of dollars of payments to the Chinese city’s former No. 2 official, the High Court was told.
Sun Hung Kai Properties Ltd., Hong Kong’s biggest developer by market value, said an executive director was arrested by the city’s anti-corruption body as part of an investigation into alleged bribery.