Thousands of protesters turn out outside government headquarters in Hong Kong, Friday, Sept. 7, 2012. Parents, teachers and pupils along with activists in the former British colony continued their protest against the government's plan to introduce a new subject "Moral and National Education" into a new curriculum, starting from new school year. (AP Photo/Kin Cheung)
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Thousands of protesters turn out outside government headquarters in Hong Kong, Friday, Sept. 7, 2012. Parents, teachers and pupils along with activists in the former British colony continued their protest against the government's plan to introduce a new subject "Moral and National Education" into a new curriculum, starting from new school year. (AP Photo/Kin Cheung)
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Thousands of protesters show the "stop" sign outside government headquarters in Hong Kong, Friday, Sept. 7, 2012. Parents, teachers and pupils along with activists in the former British colony continued their protest against the government's plan to introduce a new subject "Moral and National Education" into a new curriculum, starting from the new school year. (AP Photo/Kin Cheung)
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A student directs the protesters outside government headquarters in Hong Kong, Friday, Sept. 7, 2012. Parents, teachers and pupils along with activists in the former British colony continued their protest against the government's plan to introduce a new subject "Moral and National Education" into a new curriculum, starting from new school year. (AP Photo/Kin Cheung)
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John Shum, filmmaker and veteran pro-democracy activist who helped Chinese students during the June 4, 1989 Tiananmen Square crackdown in Beijing, center, stages a hunger strike with other Hong Kong veteran activists outside the government headquarters during a protest urging the government to cancel a new additional course called "Moral and National Education" which is to be introduced into the school curriculum, starting from the new school year, in Hong Kong, Thursday, Sept. 6, 2012. The writing on the headbands reads "Hunger Strike." (AP Photo/Kin Cheung)
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A hunger strike protester, left, is greeted by a supporter outside the government headquarters in Hong Kong, Friday, Sept. 7, 2012. Protesters urged the government to cancel new additional course, "Moral and National Education" subject, to be introduced for school curriculum, starting from a new school year. (AP Photo/Kin Cheung)
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Father ties a black ribbon on his daughter's wrist to demand withdrawal of the national education plan at a primary school in Hong Kong, Friday, Sept. 7, 2012. Protesters urged the government to cancel new additional course, "Moral and National Education" subject, to be introduced for school curriculum, starting from a new school year. (AP Photo/Kin Cheung)
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Hong Kong Chief Executive Leung Chun-ying attends a news conference at the government headquarters in Hong Kong, Friday, Sept. 7, 2012. Leung said he is willing to have an open dialogue with opponents of national education. Protesters urged the government to cancel new additional course, "Moral and National Education" subject, to be introduced for school curriculum, starting from a new school year. (AP Photo/Kin Cheung)
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Sun Hung Kai Properties Ltd. Joint Vice Chairmen and Managing Director Raymond Kwok arrives at the Eastern Court in Hong Kong Friday, March 8, 2013. Billionaire property brothers Thomas and Raymond Kwok are at the center of a Hong Kong graft probe have pleaded not guilty to corruption charges. The Kwoks were arrested by anti-corruption police and charged last year along with a former senior government official and two others. The brothers are joint chairmen of Sun Hung Kai Properties, one of the city's biggest developers. (AP Photo/Vincent Yu)
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Sun Hung Kai Properties Ltd. Joint Vice Chairmen and Managing Director Thomas Kwok, center, arrives at the Eastern Court in Hong Kong Friday, March 8, 2013. Billionaire property brothers Thomas and Raymond Kwok are at the center of a Hong Kong graft probe have pleaded not guilty to corruption charges. The Kwoks were arrested by anti-corruption police and charged last year along with a former senior government official and two others. The brothers are joint chairmen of Sun Hung Kai Properties, one of the city's biggest developers. (AP Photo/Vincent Yu)
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Former Hong Kong Chief Secretary Rafael Hui, arrives at the Eastern Court in Hong Kong Friday, March 8, 2013. Billionaire property brothers Thomas and Raymond Kwok at the center of a Hong Kong graft probe have pleaded not guilty to corruption charges. The Kwoks were arrested by anti-corruption police and charged last year along with a former senior government official and two others. The brothers are joint chairmen of Sun Hung Kai Properties, one of the city's biggest developers. Hui is alleged to have provided land sale information to the Kwoks between 2005 and 2007. (AP Photo/Vincent Yu)
HK tycoon brothers plead not guilty in graft case
HONG KONG (
AP) — Hong Kong's billionaire Kwok brothers pleaded not guilty to graft charges on Friday, setting the stage for the city's biggest corruption trial in years.
The pleas entered by Thomas and Raymond Kwok all but ensure their case will head to trial in the city's High Court.
The brothers are joint chairmen of Sun Hung Kai Properties Ltd., one of Hong Kong's biggest developers. Forbes estimates they are the third richest people in Hong Kong, with a combined net worth of $20 billion.
Anti-corruption police arrested and charged the Kwoks last year, along with three others. Prosecutors had alleged that the prominent developers gave bribes in exchange for lucrative information on pending land sales. But they slightly revised the charges, dropping the bribery charge against Raymond Kwok. The brothers still face charges of misconduct and providing false information.
The three other defendants also pleaded not guilty. They include Rafael Hui, formerly the second highest ranking government official; a former senior officer at stock exchange operator Hong Kong Exchanges and Clearing; and an executive director at Sun Hung Kai.
Hui is alleged to have provided land sale information to the Kwoks between 2005 and 2007
The corruption scandal shocked the southern Chinese financial center, where residents have traditionally revered the city's tycoons. But widening inequality, much of it linked to skyrocketing housing costs in the densely populated city, means that has given way in recent years to public anger over the billionaire class, many of whom made their fortunes in property.
Prosecutor Kevin Zervos said at the brief hearing that 72 witnesses would testify.
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