Gov’t investigates Next Digital Limited over alleged fraud affairs

Clement Chan Kam-wing has been appointed as the inspector for the investigation.

The government has appointed Clement Chan Kam-wing as the inspector for the investigation of the alleged fraudulent financial affairs of Next Digital Limited (NDL).

“In invoking the statutory power to make this appointment, I have reviewed the relevant facts and circumstances in relation to the affairs of Next Digital Limited and all the available information,” Financial Secretary Paul Chan said.

He noted that upon his review it appeared to him that the NDL has been run in a manner unfairly prejudicial to the interest of shareholders and has been used to conduct unlawful activities.

In particular, Chan said senior executives of the NDL has allegedly committed criminal offences and/or misconduct amongst others.

“In view of the above, I consider it in the public interest to invoke the relevant statutory power to appoint an Inspector to investigate into the affairs of NDL,” he said.

“As a leading international financial and commercial centre, Hong Kong attaches paramount importance to upholding the integrity and reputation of its corporate sector and the corporate governance regime, which is the hard-earned result of the continuous efforts of the government, regulators, and the business community.” 

Clement Chanis a senior accountant and served as a former president of the Hong Kong Institute of Certified Public Accountants.

He was also a non-executive director of the Securities and Futures Commission.

Follow the link for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Unemployment rate rises to 5.4% from February to April
The total number of unemployed people stands at 206,100.   The unemployment rate rose by 0.4 percentage points to 5.4%  from February to April, when compared to the January to March period.    Based on the data from the Census & Statistics Department (C&SD), the total number of unemployed people from February to April was 206,100, an increase of 17,600 from the preceding three-month period.   Meanwhile, the number of unemployed rose by around 25,000 to 142,000, translating to a rate of 3.8%.   With the increase in the number of jobless and underemployed individuals, total employment dropped to 3,559,200, whilst the labour force fell to 3,765,300.   The deterioration of Hong Kong’s labour market however should see an improvement in the coming months, according to Secretary for Labour & Welfare, Dr Law Chi-kwong.   The receding local epidemic situation and progressive relaxation of social distancing measures, the new round of Consumption Voucher Scheme, and Other relief measures including the 2022 Employment Support Scheme should help drive improvement in the employment sentiment, said the C&SD.