The ICAC has charged Tam Chi-ming, former proprietor of Wealth Concepts Consultancy, and five others, including four investment entrant applicants and a company employee, with conspiracy to defraud the Immigration Department (ImmD) by submitting false investment representations to secure immigration approvals under the now-suspended Capital Investment Entrant Scheme. Tam, initially charged in June, faces 10 additional charges following further investigation, alleging fraudulent schemes between 2016 and 2024 involving HK$10 million investments falsely claimed in bond assets. The defendants, released on bail, will appear in court for mention, with the case expected to transfer to the District Court. The ICAC continues to review and strengthen oversight of immigration and talent admission schemes with government support.
Resources: https://www.icac.org.hk/en/p/press/index_id_2013.html