Former Standard Chartered Bankers Jailed for HK$28M Africa Investment Scam

Former Standard Chartered bankers jailed over HK$28m Africa investment scam

Two former relationship managers at Standard Chartered Bank in Hong Kong have been jailed for three years for swindling HK$28 million (US$3.6 million) from 21 Japanese investors who believed their money would fund development projects in Africa. The District Court on Thursday sentenced Woo Man-ho and Chan Tak-ching on a total of four counts of conspiracy to defraud arising from a transnational investment scam between January 2015 and September 2016. The defendants, both 39, had earlier pleade...

By Brian Wong