Money lender duo charged with $600,000 referral fees fraud
2020-10-21
Two former staff members of a licensed money lender have been charged by the ICAC today (October 21) with conspiracy to defraud the company of referral fees totalling about $600,000 by falsely representing that 14 loan applications were referred by one of them.
Wong Hong-chuen, 40, former sales executive of KP Financial Services Limited (KPL), and Wong Kan, 38, former referral agent of KPL, jointly face one count of conspiracy to defraud, contrary to Common Law.
The defendants will appear in the Eastern Magistrates’ Courts on Friday (October 23) for the case to be transferred to the District Court for plea.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offence.
At the material time, Wong Hong-chuen and Wong Kan were respectively sales executive and referral agent of KPL, a local licensed money lender. Wong Kan would receive one per cent of the loan amount as referral fee if an application was successfully referred by him.
The charge alleges that between December 12, 2014 and October 14, 2015, Wong Hong-chuen and Wong Kan conspired together to defraud KPL by dishonestly falsely representing that 14 loan applications made with the company were referred by Wong Kan, thereby inducing KPL to pay Wong Kan totalling about $600,000 as his referral fees in connection with those loan applications.
KPL has rendered full assistance to the ICAC during its investigation into the case.
The defendants have been released on ICAC bail, pending their court appearance on Friday.
Wong Hong-chuen, 40, former sales executive of KP Financial Services Limited (KPL), and Wong Kan, 38, former referral agent of KPL, jointly face one count of conspiracy to defraud, contrary to Common Law.
The defendants will appear in the Eastern Magistrates’ Courts on Friday (October 23) for the case to be transferred to the District Court for plea.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offence.
At the material time, Wong Hong-chuen and Wong Kan were respectively sales executive and referral agent of KPL, a local licensed money lender. Wong Kan would receive one per cent of the loan amount as referral fee if an application was successfully referred by him.
The charge alleges that between December 12, 2014 and October 14, 2015, Wong Hong-chuen and Wong Kan conspired together to defraud KPL by dishonestly falsely representing that 14 loan applications made with the company were referred by Wong Kan, thereby inducing KPL to pay Wong Kan totalling about $600,000 as his referral fees in connection with those loan applications.
KPL has rendered full assistance to the ICAC during its investigation into the case.
The defendants have been released on ICAC bail, pending their court appearance on Friday.