Hong Kong Agency Charges Former UBNZ Executive With Bribery
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The ICAC has charged a New Zealand woman for allegedly giving more than $73 million in bribes to an executive at a Hong Kong-listed company, to secure a $930 million acquisition deal for her asset holding firm.
The man who is accused of accepting the bribe has jumped bail and the anti-corruption agency has issued a warrant for his arrest.
Hao May, formerly known as May Wang, is a director of New Zealand-based UBNZ Assets Holdings.
The firm had been behind several failed multi-million-dollar bids for New Zealand dairy assets that were ultimately blocked by regulators.
She is accused of giving $73 million in bribes, along with two New Zealand properties, to the former executive director of Natural Dairy Holdings Ltd, Chen Keen.
The ICAC says the payments were given as a reward for the $930 million acquisition of her company.
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