Two former Kingworld Medicines (HKG:1110) employees face charges for alleged false representations to defraud the company of services worth HK$1.1 million, according to a Wednesday press release by Hong Kong's Independent Commission Against Corruption.
Former Kingworld Medicine Healthcare General Manager Watson Yau Wei-ching and former marketing officer Alen Yu Yuen-to allegedly made false representations regarding consultancy and other services given by a secretarial services company, the commission said.
Yau and Yuen-to face two joint counts of fraud, while Yau faces another count of fraud. Asia Great Services director Chau Pak-ho, a business partner of Yuen-to, also faces money laundering charges.
Both Yau and Yuen-to have resigned from their posts between July and August, Kingworld said in a separate filing on Thursday.
The cases will not adversely impact the company as the amount only comprises a small percentage of its total assets, Kingworld said.
Shares closed 5% lower during Thursday's trading.
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