Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Ex-Hong Kong official sentenced to three years in prison in U.S. bribery case

Published 03/25/2019, 09:33 PM
Updated 03/25/2019, 09:33 PM
© Reuters. Chi Ping Patrick Ho is sentenced by U.S. District Judge Loretta Preska in New York

By Brendan Pierson

NEW YORK (Reuters) - A former Hong Kong government official was sentenced to three years in prison on Monday by a U.S. judge following his conviction for bribing officials in Chad and Uganda in exchange for contracts for a Chinese energy company.

Chi Ping Patrick Ho, 69, was sentenced by U.S. District Judge Loretta Preska in Manhattan federal court, where he had been found guilty of seven criminal charges last December. Ho, who has been in jail since his arrest 16 months ago, had sought a sentence of time served, while prosecutors had sought five years.

Preska said her sentence took into account Ho's "extraordinary" history of charity, which included becoming a mentor to another prison inmate whom she had sentenced.

"I feel great remorse that my actions and my situation have caused too heavy a burden on my family," Ho said in court before being sentenced. "I am deeply sorry."

Edward Kim, Ho's lawyer, said he and his client were considering options for appeal.

Ho was arrested in November 2017 on charges of violating U.S. foreign corruption law, money laundering and conspiracy. Prosecutors said he arranged bribes on behalf of Shanghai-based energy conglomerate CEFC China Energy.

At the time of his arrest, Ho was secretary-general of the Hong Kong-based China Energy Fund Committee, which was funded by CEFC China Energy.

Prosecutors said Ho caused the energy company to offer a $2 million bribe to the president of Chad, Idriss Deby, in 2015 in exchange for exclusive oil rights in that country.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The government of Chad has denied the U.S. charges.

Prosecutors also said that Ho caused $500,000 to be wired to Uganda's foreign minister in 2016, with the promise of further payments in the future, to secure favors for the Chinese company, including the potential acquisition of a Ugandan bank.

Sam Kutesa, who previously served as president of the U.N. General Assembly, has been Uganda's foreign minister since 2015. Uganda has denied the allegations.

In arguing for a tougher sentence, prosecutors said in court filings that Ho had not accepted responsibility, pointing to emails he sent from jail.

In one email, Ho described himself as "the first of the sacrificial lambs" of hostility between the United States and China.

Ho sent that email following an exchange about the arrest of Huawei Technologies Co Ltd Chief Financial Officer Meng Wanzhou on U.S. charges in Canada, which has fueled tensions between the two countries.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.