Hong Kong police have arrested the finance director of Hong Kong Chu Hai College for allegedly embezzling HK$770,000 ($98,312) after the tertiary education institute reported the incident to the city’s law enforcement agency.

On April 17, President of the college Jane Zhang was notified by the Bank of China about three unusual transactions from its bank account to the 49-year-old suspect’s personal account, according to local media reports.

Zhang decided to report to the police on April 29 after discussing the matter with the college’s board of directors, the reports added.

The suspect, surnamed Choi, was arrested the next day and later released on bail pending further investigation.

The 49-year-old has been the institute’s finance director since 2024, tasked with managing its financial affairs.

The case has been handed over to the Tuen Mun district crime squad.