Moulin Global Eyecare Holdings Limited
HKICPA bans Chau Li Shan, former Moulin accounting manager for 2 years
Ms Chau testified under immunity at the criminal trial of directors. This case serves as a warning to qualified accountants working at listed companies - you cannot turn a blind eye to fraud and claim that you were just acting under orders, and you have a positive obligation to blow the whistle, first to management or non-executive directors, and if they don't act, then to authorities directly, such as the SFC or police.
Moulin Global Eyecare v Inland Revenue
HK Court of Final Appeal, 13-Mar-2014
By a majority, the CFA rules that the Government gets to keep its windfall of tax paid on fake profits reported by Moulin. Lord Robert Walker, leading the judgment, attributes the actions of the fraudulent directors to the company, and says that the company "chose not to" object to the tax within the 1 month timeframe, even though it was still being run by fraudsters at that point (and they would of course not cause the company to correct the fake profits in the filings). Justice Robert Tang Ching is the lone voice of common sense. Webb-site now calls on the Government to table legislation to correct this anomaly.
Moulin Global Eyecare Trading Ltd v Inland Revenue
HK Court of First Instance, 15-Feb-2011
The Moulin liquidators succeed in a judicial review of the Inland Revenue's refusal to refund profits tax on the fictitious profits of Moulin which were produced by false accounting.
Six members of Moulin jailed for fraud
HK Police, 2-Dec-2010
Unlike the ICAC, the police don't say which company or person they are talking about, but it is undoubtedly Moulin, and by "members" they mean directors and employees.
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