Hong Kong College of Education embezzlement case leads to two more arrests

Police in Hong Kong have arrested two additional individuals in connection with the embezzlement of funds from the Hong Kong College of Education. The new arrests involve a 50-year-old man and a 48-year-old woman, suspected of money laundering.

The investigation stems from an incident in April where the college's financial director, a 49-year-old man, was arrested for allegedly stealing approximately HK$770,000 from school bank accounts. Further inquiries revealed that between January 2023 and April 2024, the director is suspected of transferring a total of approximately HK$41 million into the private bank accounts of his friend and his wife.

The two new suspects appeared in the Tuen Mun Magistrates' Courts on August 12. The man faces nine counts of money laundering, while the woman faces six counts. The original financial director remains charged with theft.