HK Deutsche Bank exec charged with taking $3.2mln in bribes
by Staff Writer on January 12, 2012
A senior executive of Deutsche Bank AG has been charged in Hong Kong with accepting bribes in return for giving advice on trading derivative warrants, the city’s anti-graft watchdog said on Thursday.
The Independent Commission Against Corruption (ICAC) said Ma Sin-chi, a 37-year-old managing director at Deutsche Bank, is alleged to have accepted HK$24.8 million ($3.2 million) in bribes as reward for giving advice on the trading of derivative warrants issued by his employer.
Four stock investors, Ha But-yee, 60, Ha Shing-ming, 32, Ha Shing-chi, 29, and Ha Sau-mei, 39, are alleged to have paid the bribes to Ma between Jan. 16, 2007 and May 7, 2008.
Read the full story at Reuters.
Leave your comment