For Kwok brothers, it appears mum knows best
By Bloomberg | China Daily | Updated: 2014-12-25 07:26
Mother knows best when it comes to running the world's second-largest real estate company.
That's one conclusion from the graft trial of Hong Kong's billionaire Kwok brothers, which ended on Tuesday with Thomas Kwok jailed for five years for corrupting Rafael Hui, the city's chief secretary from 2005 to 2007. His younger brother Raymond Kwok, who was also a defendant in the case, was acquitted of all charges.
Thomas and Raymond wrested control of developer Sun Hung Kai Properties Ltd from their eldest brother Walter in 2008 after their mother intervened, according to testimony heard in the trial which started seven months ago.
Photo