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Hong Kong businessman Jason Poon granted bail in HK$6 million fraud case
Cash bail was set at HK$100,000, and the case will be moved to District Court with a potential total sentence cap of seven years.
Hong Kong businessman Jason Poon Chuk-hung and his wife, Carrie Chu Shu-fong, were granted bail after facing charges related to an alleged defraudment of a government financing scheme during the Covid-19 pandemic, involving HK$6 million, according to SCMP Economy.
Poon, 56, and Chu, 54, were told at Kowloon City Court on Monday that proceedings for their fraud and money laundering charges will be transferred to the District Court, where the maximum sentence for any number of charges is capped at a total of seven years imprisonment.
Magistrate Arthur Lam Hei-wei granted the pair cash bail of HK$100,000 and imposed conditions including remaining in Hong Kong and reporting weekly to a police station.
The defendants are set to return to Kowloon City Court on November 2 to handle documentation for the transfer, and they are expected to enter their pleas at the District Court at a later stage.