Hong Kong Tycoons Deny Wrongdoing

Posted April 3rd, 2012 at 10:35 am (UTC-5)
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Two of Asia's wealthiest tycoons say they are innocent of suspected bribery, after their arrests last week in Hong Kong as part of one of the city's largest graft probes in decades.

Billionaire brothers Raymond and Thomas Kwok spoke publicly Tuesday for the first time since their arrests March 29. They said they have done nothing wrong and insisted it was business as usual in their property development empire.

The duo — whose reported wealth exceeds $18 billion — told reporters sales and development plans at their Sun Hung Kai Properties would go forward as scheduled. The company owns some of Hong Kong's largest properties.

Last week's arrests also included a former top Hong Kong government official, Rafael Hui, who was accused of misconduct in office.