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You are here: Home / News / World News / Former K&L Gates attorney jailed in Hong Kong for fraud

Former K&L Gates attorney jailed in Hong Kong for fraud

October 3, 2013 By Northwest Asian Weekly

By Staff
Northwest Asian Weekly

A former senior partner in the Hong Kong offices of K&L Gates is serving 12 years in jail for what the South China Morning Post is calling Hong Kong’s biggest fraud case.

The Morning Post reported that Navin-Kumar Aggarwal, 47, pleaded guilty in connection with a HK$8.5 billion fraud and money laundering scheme to pay off gambling debts.

The scheme victimized 92 potential investors, two clients and the K&L Gates law firm between 2007 and 2011, according to the paper.

Aggarwal conducted the scheme through the K&L Gates accounting staff in order to pay off his own gambling debts, the newspaper reported.

According to the newspaper, Aggarwal would approach potential investors with a false business opportunity and ask them to deposit money with the law firm. Aggarwal would then funnel the clients’ money through a dormant account, which he had taken over.

The law firm ended up paying compensation to the defrauded clients and faced lawsuits as a result of the scheme, according to the paper.

K&L Gates is the international law firm created by the merger of Kirkpatrick & Lockhart Nicholson Graham with Preston Gates and Ellis, the Seattle-based international law firm founded by William Gates, Sr. (end)

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Filed Under: World News Tagged With: 2011, 2013, HK, Hong Kong, Northwest Asian Weekly, South China Morning Post, Vol 32 No 41 | October 5 - October 11, William Gates

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