Court extends order against college finance chief in HK$25m embezzlement case
Hong Kong Chu Hai College is pursuing legal action against its finance director, Ray Yip Kam-chun, and three other defendants for alleged embezzlement totaling HK$25 million. The college claims Yip disguised illicit transactions as legitimate expenses, including a "long service payment" despite still being employed. The court has extended an order against Yip and ordered him and his wife to disclose assets worth HK$50,000 or more within 21 days to aid the college's recovery efforts. AI
