Hong Kong charges ex-JPMorgan banker in ‘princeling’ bribery case
Hong Kong’s anti-corruption agency said Thursday it has charged JPMorgan’s former Asia investment banking vice chair with two counts of bribery for trying to hire the son of an IPO client.
Catherine Leung Kar-cheung
faces two counts of bribery, according to the Independent Commission Against Corruption or ICAC.
Leung, 51, allegedly offered a job to the son of the chairman of a logistics company in 2010 and 2011.
The job offer was a reward for the chairman “showing favor” to JPMorgan for his company’s IPO, according to the ICAC.
Leung was released on bail.
She’s scheduled to appear in court on May 20, the ICAC said.
According to the ICAC release,
JPMorgan’s “client referral program” dates back to at least 2007.
“Senior staff at or above the rank of executive director or managing director, such as the defendant, could refer candidates to [JPMorgan] for the junior post of analyst or associate,” the ICAC said.
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