City’s court will sentence Si Rongbin, who vowed to rescue Multiply at one time, on February 4
Mainland businessman Si Rongbin, who once pledged to keep Indonesia's now-defunct Multiply afloat, was convicted by a court in the city on Thursday for failing to pay 3,000 of the former website’s employees on time.
Si, who was declared bankrupt last month, pleaded not guilty to 44 summonses over his role in the website’s failure to pay the wages and termination payments of the 3,000 employees worth a total of HK$730,000 within the legal seven-day limit.
Acting principal magistrate Joseph To Ho-shing stated in a written verdict that Si had been more concerned about the completion of share transfer in the company than about paying the employees on time.
“[Si] never set aside the sum of HK$14 million needed to pay all the staff members at the ramshackle Multiply on time ... [he strived] to oppose the winding up of Multiply and, in so doing, allowed the company to owe its employees wages,” the magistrate said.
The Sha Tin Court rejected Si’s submissions that Multiply was heavily in debt and that the firm had focused on its development and fundraising. “None ... is a reasonable excuse for owing payment to staff,” To said.
He added that Multiply could have ceased operation and avoid owing its staff their salaries.
The world's e-commerce and social networking site went closed on May 6, 2013 and ceasing all business operations on May 31, 2013 after its social networking portion was closed on March 16, 2013, following years of financial and managerial turmoil.
Under the Employment Ordinance, employers have the statutory responsibility to pay wages on time. The maximum penalty for wage offences is a fine of HK$350,000 and imprisonment of three years.
The Sha Tin Court adjourned sentencing to February 4.
