The finance director of Hong Kong Chu Hai College has been arrested on suspicion of embezzling HK$770,000 (US$98,262) after the head of the institution reported the case to the police.
Jane Zhang, president of the Tuen Mun‑based college, contacted police on April 29 after the Bank of China alerted her on April 17 to three unusual transactions from the college to the suspect’s personal account, amounting to about HK$770,000, a police source said.
Zhang decided to report the matter after consulting the college’s board of directors.
The suspect, Ray Yip Kam‑chun, has served as the college’s finance director since 2024, overseeing its finances.
Police arrested Yip on Thursday and later released him on bail pending further inquiries.
The Tuen Mun district crime squad is investigating the case.
Hong Kong Chu Hai College is a private institution founded in Guangzhou in 1947 before relocating to Hong Kong in 1949. It offers a wide range of undergraduate and postgraduate programmes. -- SOUTH CHINA MORNING POST
