Businessman Jason Poon and wife granted bail over alleged HK$6 million loan fraud

Hong Kong businessman Jason Poon Chuk-hung and his wife have been granted bail after facing charges for allegedly defrauding a government financing scheme for businesses out of HK$6 million (US$765,000) during the Covid-19 pandemic.

Construction businessman Poon, 56, and his 54-year-old wife, Carrie Chu Shu-fong, were told at Kowloon City Court on Monday that proceedings for their fraud and money laundering charges would 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, while imposing other conditions, including remaining in Hong Kong and reporting weekly to a police station.

The defendants will return to Kowloon City Court on November 2 to deal with documentation for the court transfer. They are expected to enter their pleas at the District Court at a later stage.