A businessman has been jailed four years and nine months by the District Court for a $1.2 million fraud over the transfer of Food & Environmental Hygiene Department market stalls.

Chan Kam-keung, 52, was earlier found guilty of 24 counts of fraud. Chan's wife Yu Fong-wah, 49, was also convicted of six similar charges and jailed three years.

Deputy Judge Symon Wong said custodial sentences must be imposed in view of the premeditated scam spanning a period of time and the huge amount of money deceived. The judge also reprimanded the defendants for showing no remorse.

The couple were Tai Po Temporary Market tenants. When it was due for demolition, tenants were invited to bid for stalls in the new Tai Po Complex.

Between June 2003 and February 2004, Chan, on various occasions together with Yu, falsely represented to nine people that they could arrange for the latter to transfer their market stalls from the temporary market to the new market so they could continue to operate their business. The couple obtained over $1.22 million from the victims under different false pretexts.

The couple were only allocated two stalls in the new market, which they sublet to other people. None of the victims were assigned any stalls from the defendants.