The troubled Directorate on Corruption and Economic Crime (DCEC) boss, Tymon Katholo’s private Anti-Corruption Consultancy and Forensic Investigations firm-Tyedo Investments has suspended operations amid the storm faced by the owner.
A Chinese tycoon who served 13 years in prison for bribery and embezzlement and is still wanted by Hong Kong’s anti-corruption agency has taken a position as an adviser to a cosmetics and skincare products manufacturer in Shanghai, according to a news report.
Zhou Zhengyi, also known as Chau Ching-ngai, was sentenced in 2007 to 16 years in prison for his crimes but released early in August. He was once Shanghai’s wealthiest man and the 11th richest in mainland China, with an estimated fortune of US$320 million from property development and stock market speculation.
He is still wanted by the Independent Commission Against Corruption in Hong Kong for allegedly conspiring with others to defraud shareholders and making false statements, but the former British colony does not have an extradition deal to bring suspects from mainland China.