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Hong Kong Tycoon, Ex-Official Jailed for Corruption

Former co-chairman of Sun Hung Kai Properties Thomas Kwok (L) and former executive director of Sun Hung Kai Properties Thomas Chan (C) sit near Correctional Services officers as they arrive at the High Court in Hong Kong, December 23, 2014.

A billionaire Hong Kong property developer has been found guilty of corruption and sentenced to five years in prison.

The territory's High Court on Tuesday found Thomas Kwok guilty of conspiracy to commit misconduct after he paid bribes of over $1.1 million to a former top Hong Kong official. He was also ordered to pay a $64,000 fine.

The official who accepted the bribes was Rafael Hui, Hong Kong's former number two leader. He was found guilty of misconduct and conspiracy to commit misconduct and sentenced to seven and a half years in prison.

Rising property prices, social inequality, and government corruption have helped generate a sense of resentment among many Hong Kongers, and the corruption trial served to worsen that sentiment.

The 63-year-old Kwok, who pleaded not guilty, was co-chairman of Sun Hung Kai Properties, Hong Kong's largest real estate developer, which has helped build many of Hong Kong's highest-profile buildings.