Former Deloitte IT manager stole 423 laptops, sold them while on leave to cover stock trading losses

A former Deloitte IT manager in Hong Kong has been remanded in custody pending sentencing after admitting to stealing 423 laptops from the accounting firm's office over 17 months to fund his stock trading addiction, reported South China Morning Post (SCMP).

Ho Man-kit, 40, pleaded guilty to one count of theft at the District Court on Tuesday. He admitted to misappropriating Lenovo laptops worth HK$1.2 million (US$153,000) and selling them to an electronics recycler between September 2021 and February 2023.

Under caution, Ho said he had lost all the illegal proceeds through unsuccessful stock trading and remained in debt.

423 laptops stolen over 17 months

The theft came to light on February 13, 2023, when an IT engineer discovered that 399 laptops were missing from Deloitte's office at Cityplaza in Quarry Bay.

The engineer and an administrative officer reviewed live surveillance footage and found Ho, who was supposedly on leave, attempting to sell a box containing 15 laptops to a recycler at around 7.30pm that day, reported South China Morning Post (SCMP).

The pair intervened and stopped the transaction.

Two days later, Ho confessed his wrongdoing to his supervisor during a meeting and surrendered himself to police that afternoon.

A detective constable later recovered another 24 Deloitte laptops from the recycler's premises at Sin Tat Plaza in Mong Kok.

Ho claimed Deloitte allowed him to sell laptops

According to the recycler's owner, Ho claimed Deloitte had authorised him to sell the laptops, saying the computers were either outdated or had been purchased by mistake.

Bank records showed Ho received more than HK$458,000 from the illicit sales. He also claimed to have received cash from the recycler for the transactions.

Defence cites family and financial stress

Ho's defence counsel said during mitigation that he was ashamed of his actions and had attempted suicide the day before he turned himself in.

The court also heard that Ho was under significant family-related stress. His wife was experiencing postnatal depression, while his father, who had lung cancer, had undergone surgery, reported South China Morning Post (SCMP).

Sentence due on August 21

Deputy Judge Minnie Wat Lai-man will sentence Ho on August 21.

Theft is punishable by up to 10 years' imprisonment, although the maximum sentence is seven years when a case is heard at the District Court.