Chinese Estates Holdings

Hong Kong billionaire, Mr Joseph Lau, the chairman and chief executive of Chinese Estates Holdings, is facing prosecution over bribery and money laundering charges.

It is alleged that Mr Lau and another high-profile tycoon, Mr Steven Lo offered a HK$20 million (£1.6 million) bribe to a former Macau government official to secure the purchase of five plots of land near Macau international airport and the Cotai Strip.

Mr Lau denies the allegations.