The former co-chairman of Hong Kong-listed developer Sun Hung Kai Properties Ltd, Thomas Kwok, was sentenced to five years in jail and a HK$500,000 ($64,440) fine on Tuesday in the city's highest profile graft case.
Rafael Hui, a former top Hong Kong government official who headed the civil service from 2005 to 2007, was sentenced to seven and half years in jail for his role in the scandal.
Their trial exposed the cozy relationship between the city's powerful developers and government in the former British colony, with Sun Hung Kai paying Hui millions of dollars in bribes to gain government favour. The court ordered Hui to return HK$11.182 million in bribes to the Hong Kong government.
The case shocked Hong Kong's business community, a small, close-knit group of tycoon-led families who control much of the city's business and hold substantial political influence.
In handing down the verdicts, Judge Andrew Macrae of the High Court said it was important for the Hong Kong government and business community to be "corruption free" as mainland China was determined to "eradicate the cancer of corruption".