A pedestrian using a smartphone is silhouetted as buildings stand in the background in the Central district of Hong Kong, Nov 3, 2019. (CHAN LONG HEI / BLOOMBERG)
HONG KONG – A Hong Kong judge on Monday found JPMorgan’s former vice chairman of Asia investment banking, Catherine Leung, not guilty of bribery following her trial held late last year.
Leung was accused of bribing the then chairman of Kerry Logistics Network Ltd, Ang Keng-lam, by employing his son Ang Ren-yi at the US investment bank’s Hong Kong office in 2010.
Catherine Leung was accused of bribing the then chairman of Kerry Logistics Network Ltd, Ang Keng-lam, by employing his son Ang Ren-yi at the US investment bank’s Hong Kong office in 2010
She did so, the prosecution told the court, in anticipation that Ang would influence his company to give JPMorgan a role on its up-coming initial public offering (IPO).
Leung’s barrister, however, argued Leung had played a fairly minor role in the hiring and had relied on the bank’s human resource processes.
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Leung did not comment when approached by Reuters outside the courtroom on Monday. Neither of the Angs could be immediately reached via their current employer.
Ang Ren-yi worked at JPMorgan from June 2010 until October 2011, according to court documents.