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A 68-year-old man wanted for theft of about $16 million was extradited from the United States of America to Hong Kong today (December 23).
Initial enquiries revealed that the 68-year-old man was the shareholder of a company in Hong Kong. In March 1997, the man sold 40 percent of the shares of the company to two purchasers without transferring 30 percent of them after sale.
Between November 1997 and April 1998, the man had on several occasions withdrawn money from the company account without consent from the other shareholders.
A report was made by the victim to the Police in September 1998.
The total amount involved was about $15.8 million.
Police Commercial Crime Bureau took up the investigations and the 68-year-old man was found having left Hong Kong before the case was reported.
Upon the request from the Hong Kong Police, the 68-year-old man was subsequently arrested by the United States authorities in April 2003.
The man was extradited to Hong Kong today. He will be charged with 18 counts of theft later and will appear in the Eastern Magistrates' Courts tomorrow (December 24).
Police Report No.14
Ends/Friday, December 23, 2005
Issued at HKT 23:46
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