【Acrylic Painting by Dennis Tang】
(Paintings and Photos may not be relevant to the incident described)
The Carrian Group case is one of the largest fraud and corruption cases in the history of Hong Kong.
Carrian was founded by George Tan Soon-gin in 1977 and went public in 1980 through backdoor listing. In 1982, stock price of Carrian declined due to market reasons. It was later discovered that there was fraud with the company’s accounts, incluidng that a high-value transaction of Gammon House (now Bank of America Tower) was never succeed. The property was indeed sold to a related private company thus the so-called profit was on the book only. Carrian was filed for bankruptcy in 1982.
The Carrian case involving a sum of 6.6 billion dollars and litigation costs of more than 200 million dollar lasted for over 17 years. George Tan was sentenced to three years in prison but three people closely related to the case died mysteriously. One of those was Jalil Ibrahim who was an auditor of BMF Malaysia responsible to investigate Carrian related unauthorized loans. He was murdered and his body was found abandoned in a banana field near Tai Po Railway Station.
