Pearl Oriental Oil official cleared of fraud

May 21, 2015 12:10
Lew Mon-hung (second from right), is shown with his defense team after he was acquitted of fraud of money laundering. Photo: HKEJ

A former senior official of a Hong Kong-listed oil company has been cleared of fraud and money laundering charges, the Hong Kong Economic Journal reported Thursday.

Lew Mon-hung, former vice chairman of Pearl Oriental Oil Ltd. (00632.HK), was found not guilty by a jury of eight men after 18 hours of deliberation.

Two women co-defendants were convicted.

Lew was indicted on one count of money laundering and two counts of fraud stemming from the company's acquisition of a United States natural gas field.

The offenses, which allegedly took place from 2009 to 2011, involved HK$400 million (US$58 million) and 450 million shares of the company.

Lew still faces a charge of perverting the course of justice over e-mails and letters he allegedly sent to Chief Executive Leung Chun-ying and Simon Peh, commissioner of the Independent Commission Against Corruption, in which he sought to stop an investigation by the anti-graft agency.

Translation by Vey Wong

[Chinese version中文版]

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Hong Kong Economic Journal