The case ropes in a host of local law firms and banks that were involved in the handling of the cash. [Courtesy]
When Chui Bing Sun heard from his former partner Chien Hoe Yong last year after a 12-year silence, he was hugely elated by his business proposal.
When Mr Yong, a Chinese businessman based in Hong Kong, and Sun, a Malaysian national, first met in 2006, they forged a business partnership that gave rise to Sun International Group Ltd, a company listed on the Hong Kong Stock Exchange.
Sun International also went by a host of other names, including ListCo, Galileo Holdings Ltd and Galileo Capital Group Ltd.
Chui resigned from the company in 2008 and is now a director of Checkmate Capital Limited, a firm based in Kwun Tong, Kowloon, China.
Yong also left and started his own company, Henco Management, which is said to deal in refining gold from the Democratic Republic of Congo (DRC) and reselling it for a huge profit.
And now documents filed in court in an ongoing case where Chui has sued Yong lay bare details of the fallout between the two erstwhile business partners over a multi-million-shilling fake gold scam.
According to court documents filed before Justice Said Chitembwe, Chui is seeking to recover Sh740 million he invested in a shadowy fake gold scam allegedly orchestrated by Yong.
The case also ropes in a host of local law firms and banks that were involved in the handling of the cash in what puts to the test the country’s privacy and financial…
