The Hong Kong government won’t appeal the acquittal of an ex-JPMorgan banker accused of bribery after offering a job to the son of a client.
Ex-banker Catherine Leung Kar-cheung was charged in 2019 with bribing the chair of Kerry Logistics by offering a job to his son, The Wall Street Journal reported.
Leung was acquitted of two counts of bribery on 1 February after a Hong Kong judge said it was not clear if she intended to win a deal via the job offer or was just trying to build a good relationship with the client.
The prosecution was brought by Hong Jong’s anti-corruption agency, the Independent Commission Against Corruption.
The case follows scrutiny of JPMorgan in the US over its so-called sons and daughters programme which involved hiring relatives of clients and potential clients to win investment banking mandates.
JPMorgan agreed to pay $264m in 2016 to the US government to resolve civil and criminal charges over breaches of the Foreign Corrupt Practices Act which outlaws bribery abroad.
Hong Kong’s Department of Justice told the WSJ that it could only appeal on matters of law and “no appeal is warranted in this case”.
A lawyer for Leung declined to comment to the WSJ.
Leung was a vice chair of JPMorgan’s Asia-Pacific investment banking business. She was charged in May with two counts of bribery.
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