Singapore News

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HK family pays ransom for safe return of son

Posted by jtsmyth8 on July 16, 2008

The mother of one of Hong Kong’s richest tycoons paid nearly 77 million US dollars (S$103.7 million) for his release after he was kidnapped by a notorious gangster, a report said on Wednesday.

Ms Kwong Siu-hing, the 79-year-old chairman of Sun Hung Kai Properties, met gangster Cheung Tze-keung, known as ‘Big Spender’, days after he kidnapped her eldest son Walter Kwok in September 1997, The Standard reported.

Accompanied by one of her younger sons and Mr Kwok’s wife, Ms Kwong offered Cheung 600 million dollars to get her eldest son back.

The ransom in 1,000 dollar notes was packed inside 20 large carrier bags and driven in two Mercedes saloon cars to a quiet lane in Central district, the report said, quoting a source close to the family.

Cheung and his accomplice drove the two cars away with the cash. (story)

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