Hong Kong: Hong Kong acquits former JPMorgan banker over ‘princeling’ hire

A senior Asia investment banker who previously worked at JPMorgan Chase has been acquitted of bribery charges connected to the bank’s hiring of well-connected Chinese “princelings” to win business in the country.

A Hong Kong court on Monday found Catherine Leung, JPMorgan’s former vice-chair of Asian investment, not guilty.

Ms Leung was charged in 2019 by the territory’s Independent Commission Against Corruption with bribing the chairman of a logistics company nine years earlier. The ICAC alleged that she offered the executive’s son employment at JPMorgan’s Hong Kong office in order to help the US bank secure work on the company’s initial public offering.

Ms Leung, 52, left JPMorgan in 2015. She had faced two charges of offering an advantage to an agent. She declined to comment following the verdict. JPMorgan also declined to comment.

The original full article can be found at ft.com

(Photo: Reuters)

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