Hong Kong Property Manager Embezzles HK$60 Million, Sentenced to 18 Years

Systematic Fraud Uncovered

Wong Wai-lun, a 53-year-old former property manager at Choi Ming Court in Tseung Kwan O, Hong Kong, has been sentenced to 18 years in prison for orchestrating a massive embezzlement scheme. Wong systematically stole over HK$60 million (approximately Rp128.67 billion) from his employer through various fraudulent means between 2011 and 2021.

Methods of Embezzlement

Wong exploited his position by manipulating financial records using simple yet effective methods. He used everyday office tools like scissors, craft knives, and glue to forge bank confirmation letters, passbooks, and account statements. The convicted former manager would alter check amounts by adding zeros to the figures and then forge signatures to make the transactions appear legitimate.

Corporate Background

Wong worked at Guardian Management Services Limited, the property management company responsible for Choi Ming Court, since 1998. The corporation that owned the property was established in 2002 and maintained 10 bank accounts with a strict fund withdrawal system requiring at least three authorized signatures per transaction. Wong's actions breached this internal control system, allowing him to transfer large sums to his personal accounts.

Legal Proceedings

Wong pleaded guilty to five counts of theft at the Hong Kong High Court. His sentencing marks a significant conclusion to a case that highlights the importance of internal controls and oversight in corporate financial management.