Earls Court backer Kwok at risk of losing board positionComments Off on Earls Court backer Kwok at risk of losing board position
Thomas Kwok, who with his brother Raymond is worth an estimated $21 billion (£13.4 billion), was found guilty on Friday of bribing a former government official in Hong Kong’s biggest-ever corruption trial.
Thomas is appealing the conviction, which carries a maximum sentence of seven years in jail. But he is a non-executive director of Bank of East Asia, which is considering “whether Dr Kwok continues to be suitable” for the board.
Kwok is co-chairman of Sun Hung Kai Properties and one of Asia’s richest men.
In 2012 London developer Capital & Counties formed a joint venture with “interests of the Kwok family” to build the luxury Lillie Square residential scheme, which forms part of the £8 billion transformation of Earls Court.
Sources said Capco’s main contact was Thomas’s brother Raymond, who was cleared of all charges.