Stanley Au Chong-kit, chairman of Delta Asia Financial Group, said in a statement with the title “Forgive and Forget” yesterday that he had received “the official confirmation from the US government that without further litigation, or any admission of liability by any party, the sanctions on Banco Delta Asia, imposed in 2005, have been formally lifted.”
Au said his bank was “pleased with this action by the Financial Crimes Enforcement Network of the US government,” adding that “this is an important step forward” for his bank “and for me personally”.
Au also thanked the leaders of the central and local governments “for their concern and empathy”. He also said he would continue to work with his daughter and successor Au Lai-chong “to expand our diverse businesses, turning a new page with more promising prospects,” adding that “when the time is appropriate, we will seek to resume our US dollar business.”
The statement quoted Mahatma Gandhi as saying: “Forgive and forget but never forget to forgive”.
Au, 80, pointed out that Delta Asia Financial Group will celebrate its 85th anniversary this year.
Some 15 years ago, the US Treasury ordered US companies and financial institutions to cut links with Banco Delta Asia on account of money-laundering allegations concerning the bank’s business ties with North Korea. Au steadfastly denied any wrongdoing.
“Even though I have been through a very difficult time [during the past 15 years], it is time to let go of the past and move forward,” said Au, who ran in the chief executive election in 1999 won by Edmund Ho Hau Wah.
