Hong Kong college sues finance head, director and firm over alleged HK$25m fraud

Hong Kong Chu Hai College has sued its finance head, along with a company and its director, for allegedly embezzling over HK$25 million (US$3.19 million) by disguising the transfers as academic and administrative expenses.The private institution filed the lawsuit in the High Court on Monday to reclaim what it said were misappropriated funds transferred to finance director Ray Yip Kam‑chun, Ho Chung-ling and Rivers Design Engineering “under the guise of payroll, autopay and academic expenses”.According to the writ, seen by the South China Morning Post on Tuesday, Yip allegedly took more than HK$17.3 million, while the other two defendants received over HK$7.7 million as part of the scheme.