Buddhist Temple Directors Siblings Sentenced to Heavy Prison Terms for Fraud#
People's Daily Hong Kong, November 21 - The fraud case involving the famous Hong Kong Buddhist temple "Yun Ci Hui Hai" was sentenced yesterday. Former chairman of Yun Ci Hui Hai Merit Society, Huang Xiaosui, and his brother Huang Huidong, were sentenced to 11 years and 7 and a half years in prison respectively, and were also deprived of their rights as company directors for 15 years. Both of their lawyers believe that the sentences are extremely severe.
The judge pointed out that the two defendants' crimes caused the 93 million yuan loan that Xin Hua Bank had lent to the two companies owned by the second defendant to become bad debt.
Huang Xiaosui (44 years old) and his brother Huang Huidong (34 years old, former director general manager of Jinke Digital International Holdings), forged a meeting resolution of the temple directors in early 1999, using the "Master's Hall" located at 22 Gen De Road, Kowloon Tong, worth 56 million yuan, as collateral to obtain credit services for Huang Huidong's two companies from Xin Hua Bank.
The judge pointed out that the defendants had long coveted the temple property. The property on Gen De Road was purchased by the "wealthy believer" Liu Baihang in 1995, and within two years, the defendants handed over the property to the bank for evaluation and planned to apply for a mortgage. Although they later abandoned the plan, they mortgaged the property again in 1999 to obtain 40 million yuan credit services for Huang Huidong's Dong Rong Limited and Jialing Automobile (China) Limited. Shortly after the mortgage, 20 million yuan was withdrawn from the credit account. As of now, the two companies still owe Xin Hua Bank 35 million yuan and 58 million yuan respectively. (Wu Ming)
Source: People's Daily, November 21, 2002
(Responsible editor: Zhuang Hongtao)
http://www.people.com.cn/GB/shizheng/18/21/20021121/871553.html