PCCW's former group finance director Lam Sing-keung has been convicted at the District Court of conspiracy to defraud the company of over $430,000 in accounting service fees.

Lam, 48, was found guilty of one count of conspiracy to defraud today. Deputy Judge Josiah Lam adjourned the case until June 21 for sentencing. The defendant was granted $50,000 cash bail and ordered to surrender all travel documents and not to leave Hong Kong.

The court heard that between January 1 and 17, 2005, Lam conspired with another person to defraud PCCW by falsely representing in a debit note that Baker Tilly Hong Kong had rendered accounting services for various PCCW entities on the Mainland in 2004 at the agreed fee for the services rendered, amounting to $432,000.

He also submitted a payment request for professional fees charged by Baker Tilly Hong Kong for accounting services on the Mainland for 2004 in the same total amount.

As a result of the false representation, PCCW was caused to make payment to Baker Tilly Hong Kong for settling the debit note, the court was told.