PROPERTY developer Oxley issued a clarification on Wednesday (Jul 24) night following articles that reported the alleged involvement of its executive chairman and chief executive officer, Ching Chiat Kwong, in a corruption investigation against public officials in Venice, Italy. 

Ching said the allegations are “unfounded and untrue”, and has engaged lawyers to advise him on the matter. 

The company said the chief executive was acting in his personal capacity in Italy, and that the transactions and investigations were not related to Oxley. The mainboard-listed property developer noted that the investigation has not affected the group’s business and operations. 

The group was responding to three news articles detailing Ching’s involvement in a corruption probe involving Venice mayor Luigi Brugnaro who allegedly granted favours to developers in exchange for kickbacks. 

The Associated Press reported on Jul 17 that Brugnaro and two aides are being investigated for allegedly agreeing to ensure approvals for a 348,000 square metre residential and commercial project by Ching for 150 million euros (S$218.4 million). 

The development was for a piece of land Brugnaro bought for five million euros at a public auction before he was mayor. 

In a bourse filing, Ching clarified that the allegations were brought about by Claudio Vanin, the de facto director of a general contractor company that was appointed to develop property projects in Tuscany and Venice – Ching’s personal investments. 

Vanin had accused Ching of allegedly reaching an agreement with the Veni...