After being dismissed, Walter Kwok revealed that he had caused the deaths of his younger brother and Hui Si-yan, leading to their imprisonment.
Walter Kwok (former)Sun Hung Kai PropertiesThe chairman is indeed considered one of the key figures who "brought down" Sun Hung Kai Properties' "century corruption case" (the Hui Si-yan case), which "harmed" his younger brother Thomas Kwok, leading to his imprisonment. This case, involving the highest-ranking official and super-rich man in Hong Kong's history, originated from an internal power struggle within the Kwok family that escalated into a "revenge" drama.
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The trigger for the Guo family's internal strife: confidante Tang Jinxin (Ida Tong) + the aftermath of the kidnapping.
- Walter KwokHe was kidnapped by Cheung Tze-keung in 1997. After his release, his personality changed drastically (bipolar disorder, paranoia), and he lost trust in the people around him.
- He rekindled his old flame with his confidante Tang Jinxin (who was 3 years older than him and they were childhood sweethearts). Tang accompanied him on many trips and golf games, and was even accused of interfering in Sun Hung Kai Properties' business.
- Mrs. Kwok Siu-hing (Mother) and her two younger brothers strongly opposed Tang's involvement in the company. In 2002, Mrs. Kwok personally set "eleven family rules" to prohibit Tang from marrying into the Kwok family, participating in the company, or entering the office, etc. The three brothers signed to confirm this.
- In 2008, Walter Kwok wanted Tang to join the board of directors or the company, which crossed a line. Kwok's mother, along with Walter Kwok's brothers, forced Walter Kwok to take a leave of absence and resign as chairman and CEO under the pretext of "personal reasons," relegating him to a non-executive director position, with the duties shared by his two younger brothers. Walter Kwok was ousted, and his beneficiary rights to the family trust were also stripped.
Walter Kwok "explodes in a major scandal": He reports to the Independent Commission Against Corruption (ICAC), triggering a century-old corruption case.
- After being ousted, Walter Kwok was unwilling to accept defeat and, starting in 2008, repeatedly provided the Independent Commission Against Corruption (ICAC) with internal information and leads from Sun Hung Kai Properties, accusing his two younger brothers and...Xu ShirenThe corruption allegations include accepting benefits from Sun Hung Kai Properties, living in a Leighton Hill mansion without paying rent, and receiving HK$8.5 million in "consulting fees."
- The Independent Commission Against Corruption (ICAC) received an anonymous letter (rumored to have been provided by Walter Kwok or his circle of associates), and after nearly four years of investigation, it launched a large-scale operation on March 29, 2012, arresting Walter Kwok, Raymond Kwok, Rafael Hui, Chan Kui-yuen, Kwan Hung-sang, and others.
- Walter Kwok himself was also investigated by the Independent Commission Against Corruption (ICAC) (arrested in May 2012), but was ultimately not prosecuted, presumably because he provided clues and was treated as a "tainted witness".
- The trial lasted 131 days, and the verdict was delivered in December 2014: Hui Si-yan was sentenced to 7.5 years in prison, Kwok Ping-kwong to 5 years in prison (a fine of HK$500,000 plus a 5-year ban from serving as a director), Chan Kwok-yuen to 6 years in prison, and Kwan Hung-sang to 5 years in prison; however, Kwok Ping-luen was acquitted.
- When Kwok Ping-kwong was released from prison in 2019, the Kwok family spent more than HK$1 billion on legal fees to fight the case, and Sun Hung Kai Properties' stock price once plummeted, with its market value evaporating by HK$38 billion.
Walter Kwok's "revenge" mentality
- Hong Kong media and insiders say that after being ousted, Walter Kwok viewed his two younger brothers as enemies, and his whistleblowing was the climax of this "prince's revenge."
- Grandma Guo once advised him to "leave Tang Jinxin, and everything can be discussed," and even offered him 20 billion to start his own business, but he refused.
- The incident completely shattered the Kwok family, causing the brothers to turn against each other and their mother to be heartbroken. In 2018, Walter Kwok suffered a stroke and passed away. In their eulogies, Thomas Kwok and Raymond Kwok wrote "We will always remember our brother," barely bringing the matter to a close.
- In his later years, Walter Kwok founded the Empire Group, but it was far smaller than Sun Hung Kai Properties. His life was largely ruined by internal strife, the aftermath of being kidnapped, and his confidante.
In 2014, he received approximately HK$54 billion in assets and founded Empire Group, attempting to rebuild Sun Hung Kai Properties. In 2016, he invested in Tuen Mun land and converted a seamen's home in Tsim Sha Tsui into a hotel, and partnered with Taiwanese businessmen in mainland China to raise US$10 billion for cross-strait projects... He wanted to prove himself. But fate was unkind.
On August 27, 2018, he suffered a stroke and collapsed, remaining in a coma for 54 days. His organs failed, and he was kept alive only by intubation. On October 20, his family agreed to remove the life support. He passed away at the age of 68. His Forbes estate was valued at HK$60 billion, ranking him 10th among Hong Kong's richest people.
No will was left, and Tang Jinxin was repeatedly barred from visiting him in the hospital. After her death, she wanted to claim her inheritance but had no rights—no title, no status, not a penny. His wife, Li Tianying, received 30 billion, while the remaining three children divided equally. His eldest son, Guo Jijun, took over the management of Sun Hung Kai Properties' hotels, while his second daughter, Guo Huishan, and second son, Guo Jihao, took control of the Empire Group. After the Seamen's Home Hotel was completed, a fire broke out. Although no one was injured, it seemed like a final mockery of fate: in his life, Guo Bingxiang had achieved nothing he desired.
From prince to cripple, from emperor to vengeful ghost king, from a fortune of 60 billion to dying with his life hanging by a thread—Wallace Kwok used the ICAC's knife to cut off his brother's freedom and shatter his own life.
This is not a corruption case; it is a tragic tale of fratricide. The ICAC's executioner's blade has plunged the entire Kwok family into a bloodbath.
When the spotlight shines on the courtroom, Hong Kong people see not only corrupt officials and tycoons, but also the most twisted abyss of human nature: how power, women, hatred, and betrayal can tear an empire spanning three generations into a bloody mess overnight.
Walter Kwok, the man who should have possessed everything, ultimately ruined his brothers, his family, and his entire life with his own hands. This case, known as the "corruption case of the century," superficially appears to be a case of collusion between officials and businessmen (Hui Si-yan receiving benefits from Sun Hung Kai Properties in exchange for government information), but at its core, it's a blood debt from the Kwok family's internal strife—the eldest brother was ousted, then turned around and caused his younger brother's imprisonment, severely damaging the family's vitality. The Hong Kong business community still regards it as a classic lesson of "family feuds destroying empires": when money reaches a certain level, hatred is more terrifying than money itself.
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