The Independent Commission Against Corruption of Hong Kong Wednesday jointly charged former Secretary for Development Mak Chai-kwong and Highways Department Assistant Director Tsang King-man over an alleged 700,000 HK dollars (about 90,310 U.S. dollars) housing fraud.
Between June 8, 1985 and Dec. 31, 1990, Mak, 62, and Tsang, 57, are alleged to have defrauded the government of private tenancy allowances totaling 445,000 HK dollars and 260,000 HK dollars respectively, by falsely representing that they did not have a financial or proprietary interest in the flat they leased, and that the lease in relation to each of them was a genuine lease with an unrelated third party.
They are also alleged to have concealed and not disclosed that they each had a financial or proprietary interest in the flat they leased and that the lease was with the wife of the other.
They have been released on bail, but will appear in a local court on Thursday. (1 U.S. dollar = 7.751 HK dollars)
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