Ex-Police Sergeant charged with $760,000 credit union loans fraud revealed in ICAC graft probe
2023-3-14
A then Police Sergeant was charged by the ICAC today (March 14) for allegedly deceiving the Hong Kong Police Credit Union (HKPCU) into granting four loans totalling over $760,000 to him by making false representations about his loans from and monthly loan repayments to banks or financial institutions. The fraud offences were revealed in the course of a corruption investigation by the ICAC.
Law Chi-man, 50, then Police Sergeant, faces four counts of fraud, contrary to section 16A(1) of the Theft Ordinance. He was released on ICAC bail, pending his appearance in the West Kowloon Magistrates’ Courts on Thursday (March 16) for plea.
The alleged offences took place between August 2017 and October 2020. At the material time, the defendant was a Police Sergeant and a member of the HKPCU, which provided saving and financial services to its members. During the period, the defendant allegedly induced the HKPCU to grant him four loans totalling over $760,000 by making false representations.
The ICAC investigation revealed that the defendant falsely represented to the HKPCU in the first three applications forms that he did not have any loan from banks or financial institutions, while he in fact owed outstanding debts of several hundred thousand dollars to two banks and a financial institution. Meanwhile, he understated his monthly loan repayments of several ten thousand dollars to another two banks and the aforementioned financial institution when he made the fourth loan application.
Had the HKPCU known that the information contained in the four loan application forms of the defendant was false or incomplete, it would not have processed the applications.
The Police has rendered full assistance to the ICAC during its investigation into the case.
Law Chi-man, 50, then Police Sergeant, faces four counts of fraud, contrary to section 16A(1) of the Theft Ordinance. He was released on ICAC bail, pending his appearance in the West Kowloon Magistrates’ Courts on Thursday (March 16) for plea.
The alleged offences took place between August 2017 and October 2020. At the material time, the defendant was a Police Sergeant and a member of the HKPCU, which provided saving and financial services to its members. During the period, the defendant allegedly induced the HKPCU to grant him four loans totalling over $760,000 by making false representations.
The ICAC investigation revealed that the defendant falsely represented to the HKPCU in the first three applications forms that he did not have any loan from banks or financial institutions, while he in fact owed outstanding debts of several hundred thousand dollars to two banks and a financial institution. Meanwhile, he understated his monthly loan repayments of several ten thousand dollars to another two banks and the aforementioned financial institution when he made the fourth loan application.
Had the HKPCU known that the information contained in the four loan application forms of the defendant was false or incomplete, it would not have processed the applications.
The Police has rendered full assistance to the ICAC during its investigation into the case.