Hong Kong Authorities Crack Down on Bid-Rigging: 20 Arrested in Corruption Sweep
“The joint operation conducted by the ICAC and the Competition Commission demonstrated the determination of the two agencies in cracking down on corruption and potential anticompetitive activities in building maintenance,” the South China Morning Post said. Raids on approximately 40 premises, including residences and offices linked to the suspects, yielded electronic devices and documents related to maintenance project work. The evidence collected will aid ongoing investigations into bid manipulation and inflated contract amounts.
The suspects stand accused of corrupt practices and anticompetitive behavior aimed at manipulating bidding processes to benefit associated contractors. Their actions, which if confirmed would be in violation of the Prevention of Bribery Ordinance and the Competition Ordinance, also included influencing project supervision and payment releases.
Despite facing resistance from some individuals who obstructed the investigation, authorities have stood firm in their intention to move forward with the case. Obstruction of the investigation is a punishable offense under Sections 52 and 54 of the Competition Ordinance.
Featured News
Big Tech Braces for Potential Changes Under a Second Trump Presidency
Nov 6, 2024 by
CPI
Trump’s Potential Shift in US Antitrust Policy Raises Questions for Big Tech and Mergers
Nov 6, 2024 by
CPI
EU Set to Fine Apple in First Major Enforcement of Digital Markets Act
Nov 5, 2024 by
CPI
Six Indicted in Federal Bid-Rigging Schemes Involving Government IT Contracts
Nov 5, 2024 by
CPI
Ireland Secures First €3 Billion Apple Tax Payment, Boosting Exchequer Funds
Nov 5, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Remedies Revisited
Oct 30, 2024 by
CPI
Fixing the Fix: Updating Policy on Merger Remedies
Oct 30, 2024 by
CPI
Methodology Matters: The 2017 FTC Remedies Study
Oct 30, 2024 by
CPI
U.S. v. AT&T: Five Lessons for Vertical Merger Enforcement
Oct 30, 2024 by
CPI
The Search for Antitrust Remedies in Tech Leads Beyond Antitrust
Oct 30, 2024 by
CPI