Businessman Billy Cheung Yiu Tung returned to court today, pleading for bail as he battles multiple financial crime charges in one of the region’s largest fraud cases.
Cheung, who previously requested a deferral of his bail appeal on March 26, citing inadequate preparation, now faces a formidable legal battle.
He is charged with money laundering, embezzlement, misappropriation of funds, self-enrichment, and breach of trust.
His defense team, led by Fountain Advocates and Counsel Faustin Murangwa, maintained that the case is a civil debt dispute rather than a criminal matter.
They further argued that since the alleged offenses were not committed in Rwanda, the case should not fall under Rwandan jurisdiction.
Additionally, they cited Cheung’s poor health and claimed that he is not receiving adequate medical care in detention.
However, the prosecution strongly opposed the bail request, asserting that Cheung presents a significant flight risk.
They pointed to his extensive charge sheet and history of evading creditors.
Prosecutors allege that Cheung used BILLION-IDEAS HOLDINGS LTD as a contractor for THE NEW PARK LOCK UP OWNERS ASSOCIATION LIMITED while fraudulently appointing his other company, Guangdong Hao & He Engineering Co Ltd., as the project supervisor, to the detriment of the project and its promoters.
The prosecution further dismissed claims of inadequate medical care, stating that the prison authorities are fully responsible for addressing Cheung’s health needs.
The court has set April 8, 2025, at 3:00 PM for its ruling on the bail application.
