Hong Kong anti-graft agency receives complaint about CY Leung's HK$50m deal
A formal complaint has been lodged with Hong Kong’s anti-corruption agency regarding Chief Executive Leung Chun-ying’s £4 million (HK$50m) deal with a listed Australian engineering firm.
A formal complaint has been lodged with Hong Kong’s anti-corruption agency regarding Chief Executive Leung Chun-ying’s £4 million (HK$50m) deal with a listed Australian engineering firm.
Pan-democrat lawmakers have already announced plans to investigate Leung’s conduct in the Legislative Council.
A previously undisclosed contract dated December 2, 2011 – months before Leung became chief executive but a week after his declaration to run for the top job – sets out an agreement for engineering company UGL to pay him £4 million. The payments were made in two instalments, in 2012 and last year.
UGL sought to buy insolvent property services firm DTZ, of which Leung was a director and chairman of its Asia-Pacific operations. Leung announced his resignation from DTZ on November 24, 2011, and officially left the company on December 4.
Two days before his departure, he entered into the contract with UGL under which he would receive the money if he did not compete with UGL or DTZ. No other DTZ directors received such an offer.
