Former Assistant Vice President of HKEX involved in bribery of HKD 150,000 and leaking confidential information, guaranteed bail, next hearing in January next year

The Independent Commission Against Corruption (ICAC) filed charges last Friday (November 21) against a former assistant vice president of the Hong Kong Exchanges and Clearing (00388.HK), accusing him of corruption and accepting bribes of HKD 150,000 in exchange for disclosing confidential information of listed companies. Two other individuals involved in the case were charged with obstructing justice in relation to the ICAC and the Securities and Futures Commission's (SFC) criminal investigation into insider trading.

The three individuals appeared for the first time today at the Eastern Magistrates' Court and did not need to enter a plea. Chief Magistrate Zhang Zhiwei, at the request of the prosecution, adjourned the case until January 2 next year, pending the preparation of documents required to transfer the case to the District Court for trial. During this period, the three individuals were granted bail ranging from HKD 10,000 to HKD 50,000 in cash.

The charges state that Tan Zhuoyan, as a public official, accepted HKD 30,000 from Zhou Zigang in Hong Kong on June 28, 2024, without reasonable justification, as an inducement or reward for disclosing confidential information of Yichang Dongyangguang Changjiang Pharmaceutical Co., Ltd.; and approximately HKD 120,000 from Zhou Zigang on December 23 of the same year, as an inducement or reward for disclosing confidential information of Ping An Health Medical Technology Co., Ltd., ESR Group Limited, and Goldlion Holdings Limited.

Zhou Zigang is also suspected of instructing another defendant, Deng Qingyu, to keep approximately HKD 3.9 million in cash, two watches worth over HKD 1 million, and a mobile phone, and interfering with the operation of the dashcam in Deng Qingyu's vehicle to influence the investigation