New Times Energy Corporation Limited
Guilty Chiang 'mastermind' of HK$3.7m scam
HK Standard, 10-Jun-2011
Ann Chiang Lai-wan reportedly said: "She did not expect such a verdict. No clothing and skin-care products were prepared." - which begs the question, what kind of skin-care products does one need for jail? Sunscreen, perhaps? Are black-and-white stripes still fashionable attire or is an orange jumpsuit more suitable? What would Martha Stewart advise?
Lily Chiang & others: reasons for verdict
HK District Court, 7-Jun-2011
D1=Lily Chiang, D2=Shah Tahir Hussain, D3=Pau Kwok Ping. Testifying under immunity were Iris Yip Yuk Chun, Becky Poon Pik Kiu, and Tang Wai Shing, who were all found to be co-conspirators. So was Teli Chan Yim Fong - but she has not been prosecuted.
Lily Chiang v Secretary for Justice
HK Court of Final Appeal, 26-Mar-2010
"Choice of the venue for a prosecution is clearly a matter covered by Article 63 of the Basic Law which gives control of prosecutions to the Secretary for Justice without any external interference."
The Dilution Solution
In the ongoing Pacific Challenge story, the board has made its next move after their cash acquisition of Cents.com was blocked by independent shareholders. Now they are trying to issue shares to "independent third parties" to raise cash for which there is no present need. Kistefos, a Norwegian 26% independent shareholder, spoke exclusively to Webb-site.com
Cents and Sensibility
Internet incubator E1 Media, the largest shareholder of Pacific Challenge Holdings Ltd, has failed in a blatant attempt to siphon HK$170m of cash out of PCH in return for a wildly over-valued Cents.com Ltd. In a rare success for minority shareholders, the deal was overturned. We look into the background and tell you how it happened... (11-Jul-2000)
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