May Wang charged with bribery and money laundering

May Wang, who fronted a failed Chinese bid for the Crafar farm enterprise, has been charged with conspiring to bribe officials with properties and with laundering $150 million in crime proceeds.

Hong Kong's Independent Commission Against Corruption laid the charges yesterday and issued a warrant for the arrest of co-accused Jack Chen, also known as Chen Keen.

Ms Wang, also known as May Hao, faces one count of conspiracy to offer advantages to an agent and two counts of dealing with property known or reasonably believed to represent proceeds of a crime, ICAC said.

The conspiracy charge alleges that between May 2009 and March 2010, Ms Wang conspired together with Mr Chen, then an executive director of Natural Dairy (NZ) Holdings Limited (Natural Dairy), and other persons to offer two properties in Auckland and a sum of over $HK73 million to Mr Chen.

It is alleged that these were offered as rewards for Mr Chen to procure Natural Dairy to acquire UBNZ Assets Holdings Limited, a company owned by Ms Wang.

The additional charges relate to the alleged laundering of $150 million in crime proceeds between December 2009 and December 2010, ICAC said.

The charges follow a joint investigation into the company undertaken by the Serious Fraud Office in New Zealand and ICAC in Hong Kong.

The SFO began its investigation in September 2010 when the Natural Dairy bid to purchase the Crafar farms in 2010 was being assessed by the Overseas Investment Office (OIO).

SFO chief executive Adam Feeley said that contact with ICAC early in the SFO investigation made it "obvious for the two agencies to work together on the matter". 

“There was information in both countries that was vital to the investigation, and this outcome would not have been possible without early and ongoing collaboration.”

Mr Feeley said the SFO gave consideration to charging the matter in New Zealand.

“We believe that there is clear evidence of offending having occurred in New Zealand. However, the alleged crimes were primarily directed at Hong Kong and Chinese investors and we therefore consider it is more appropriate for the authorities in Hong Kong lay the charges.

“We assessed what possible charges may have been laid in New Zealand, and believe that the action being taken by ICAC fully deals with the concerns we identified in the course of our investigations.”

Natural Dairy is involved in manufacturing and exporting dairy products from New Zealand into China. Mr Chen was a director of Natural Dairy and its subsidiaries until October 2010. 

Ms Wang was bankrupted on December 8 last year. All up Ms Wang’s Dynasty Group owes about $22 million to creditors

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Why is this not surprising !

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Can somebody name the NZ advisors to May Wang ?

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Bill Ralston.

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Why is it that the majority of the immigrants sucking the beneift from NZ tax payers come from countries with the higest corruption.

I'm pleased to see the stories about May Wang -hopefully they alert NZers to the problems.

I see many immigrants (predominantly from Asia) who take gross advantage of NZ (eg business maing $11,000 'profit' pa 4 children through state school for free, eldest child has now had two children paid for by public health, 72 year old mother enojoying pension and HNZ home). I don't blame them, I blame the NZ immigration system - some of us with integrity would refuse but many would wonder why not take advantage?

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I think you need to read NZ's immigration requirements, which one of the strictest in the world. Your comment doesn't apply to the majority of immigrants in NZ.

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In response to Informed PR and khanaheer Sorry to disillusion you. I worked for Natural Dairy, the Hong Kong entity that had bought May Wang's UBNZ by the time I arrived on scene.
I was not employed by May Wang or UBNZ.
My involvement with Natural Dairy ended when the OIO declined its application in December 2010. Just sayin'

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Was and am not disilluned, Bill ! I just asked a simple question. The tone of your response though is interesting.. what is it that you're not saying in relation to this matter ?

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Bill, you can't actually "disillusion" someone. You can reveal something, that may cause a person to become disillusioned.

Semantics aside, you were quoted as being May Wang's advisor, when she was before the beak at the cnr. of Kingston and Albert Streets. And weren't you holding her hand, during the ghastly ordeal?

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At least the Hong Kong authorities have the balls to c harge the scumbags that break the law and also fleece people of money - unlike here in NZ.

Apart from May Wang fleecing many people in NZ and not being charged or banned, our authorities also are scared of the likes of the Hanover Finance and Strategic Finance directors and Consultants.

Great to see a juridiction that has the balls to protect it's people and financial systems.

All hui and no doey in NZ

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Agreed

Where are the investigations into Hanover and Strategic Finance etc? Waiting until after the World Cup in Strategic Finances case?

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Contractors at the Methven resort hotel will be pleased that at long last she has been found out.

They lost their money about 5 years ago when she refurbed that hotel after buying it with no or little cash and bank debt. the only one who didn't lose on that deal was her.

5 years later it takes Hong Kong authorities to fix the problem and take her out of action

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Wasn't Kerry Knight also advising this woman ?

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Yep and Kerry Knight being a Solicitor gave credibility to her cause when the exact opposite was the case -n and that is not said in hindsight - she had burnt enough people already with Dynasty before the dairy opportunity arose

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Since when does a "lawyer" give credibility to any one. This is another case when kiwi investors need to dig deep to find what is going on under the bonnet.

Figure heads whether they be TVNZ presenters / Rugby greats / ex Ministers of the Crown / Sporting heros / Senior Barristers fronting finance companies and shonky developers have sold their sole or their vanity to the shady operators.

Good job that Wang is going to be hounded down by the Hong Kong authorities, they will be able to reach into China if necessary to grab their target.

And for all the PR companies fronted by personalities (there are many) you should take a long look in the mirror when being asked to front these acquisitive businesses, because if they were able to stand on their good reputation they would do so on their own.

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You have it ariund the wrong way mate

People fronting these people and organisations should be held accountable and they should be the ones who have to have done their homework to vouch for who they represent -

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May Wangs behaviour has, for the last twenty years, been accepted corporate behaviour! What has changed? A few bankruptcy's, lots of Mums, Dads Grandma's and Grandpa's discover they've been defrauded of their savings. Oops!! better drag a few sacrificial goats before the courts to quieten the hoi poloi!
And so on we go. nothing will change. Will it Bill??

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