When Greed Infects the Ivory Tower The arrest of Ray Yip, finance chief of Hong Kong Chu Hai College, has shed light on a disturbing trend: corruption infiltrating academia.
For three years, Yip allegedly siphoned off HK$41 million from the college's coffers, with his wife and an engineering contractor handling the illicit proceeds.
Recent scandals involving financial mismanagement in Hong Kong's education sector are not isolated incidents.