Ho Fuk Wing

Ho Fuk Wing, known colloquially as the el chinito de RECADI, is a Chinese businessman, naturalized Venezuelan citizen, who was arrested between 1989 and 1992 and sentenced for "fraudulent exploitation" of the RECADI exchange control system.

Detention

On 28 April 1989, judge Luis Guillermo La Riva López issued an arrest warrant against the Chinese businessmen, naturalized Venezuelan citizens, Ho Fuk Wing and Ho Fuk Shum. On 1 June, Ho Fuk Wing was stopped by a traffic police officer in Valencia when he committed a traffic violation at a traffic light in the urbanization El Trigal. Both were charged with the crime of "fraudulent use" of state money for founding 19 fake import companies between 1984 and 1986 and obtaining dollars at preferential rates from the government. The arrest warrants were part of those issued against five businessmen for false imports into Venezuela as part of the Differential Exchange Regime. Ho Fuk Wing was imprisoned for three years before being sentenced and detained for an additional four months.

Legacy

Ho Fuk Wing is often cited as the only person convicted of corruption related to the RECADI exchange control, so the Venezuelan slang has adopted the expression "chinito de RECADI" to refer to a scapegoat.