Ted Hui, a pro-democracy Hong Kong legislator, who fled to Europe, has called on regulators to investigate the actions of major banks including HSBC, after his accounts and those of his wife and parents were allegedly frozen.
Ted Hui fled to Denmark after facing criminal charges, was one of the several opposition lawmakers who quit the Legislative Council last month after four of his colleagues were dismissed from the Legislative Council.
Hui said some of his bank accounts had been unfrozen and he had moved funds swiftly from HSBC, adding he no longer trusted the global bank.
Hui, who faces charges linked to demonstrations in the city last year, took to social media on Sunday to say parents’ accounts with HSBC had been released and his account partially unfrozen following a suspension. On Monday, Hong Kong police on Monday froze the HSBC accounts of former lawmaker Ted Hui’s parents and spouse. According to reports by local media, at least five accounts worth hundreds of thousands of US dollars belonging to Hui and his family had been inaccessible since Saturday. Hui urged Hong Kong and international financial regulators to investigate his case.
The veteran activist had told Reuters via social media on Sunday that bank accounts belonging to him, his wife and his parents at Bank of China Hong Kong, HSBC and Hang Seng Bank were frozen. No further details were given.
The Hong Kong Police confirmed that Hui’s accounts and those of his parents were frozen as they were investigating the source and flow of funds. In July there was a crowdfunding campaign – aimed at launching a private prosecution against police. The campaign had raised HK$3.6 million (US$464,447), that was a cumulation of donations by 7,762 people. Hui at the time had said that after deducting administration fees and legal expenses, HK$2.2 million was deposited in an audited account of a law firm, and the amount was spent on relevant legal procedures. Authorities, however, claim that the Hui embezzled HK$850,000 from the funds and transactions related to that is currently being investigated.
The banking giant, HSBC has found itself caught in the cross-hairs of protests in Hong Kong, one of its biggest markets, as several of its branches were vandalised during some rallies. Hui said that the bank’s staff refused to provide any further information except that there were “remarks” placed on his accounts.
