Ex-HSBC executive jailed in Hong Kong over bribe

A former senior executive in HSBC's commercial banking department was jailed for 20 months in Hong Kong yesterday for taking a $60,000 bribe from a client. The city's District Court sentenced Chen Ching-hsiao, 47, after he pleaded guilty this month to...

A former senior executive in HSBC's commercial banking department was jailed for 20 months in Hong Kong yesterday for taking a $60,000 bribe from a client.

The city's District Court sentenced Chen Ching-hsiao, 47, after he pleaded guilty this month to accepting a bribe, a judiciary spokesperson said.

As part of his sentencing, Mr Chen was ordered to pay the bank $60,000, the amount that he accepted to approve a $10-million loan for a Taiwanese client two years ago, she added.

Mr Chen, who is also Taiwanese, was the bank's senior vice-president of commercial banking in Hong Kong.

An internal investigation uncovered his illegal activities.

The sentencing judge said he passed a "lenient" sentence because of Mr Chen's remorse and low chance of re-offending, Radio Television Hong Kong reported.

Sign up to our free newsletters

Get the best updates straight to your inbox:

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.