Finance company director allegedly deceived $700,000 from loan borrower
2000-4-17
The ICAC has arrested a finance company director for allegedly deceiving $700,000 from a timber merchant by lying that the money would be paid to a senior executive of a Mainland-funded financial institution for releasing a $23 million loan.
Chan Kai-yan, 52, of DM Capcol Group Limited (Capcol), was charged by the ICAC last Friday with two offences. When appearing in Western Court this (Monday) morning, he pleaded not guilty before Magistrate Mr Kevin Browne.
Capcol's main business was to introduce and arrange borrowers to obtain loans from banks and financial institutions. The company charged the borrowers consultancy fees for providing the services.
Chan was alleged of having dishonestly procured the execution of two cheques for $700,000 in total on August 20, 1997, by falsely representing to Ng Pak-min that the money was a reward for Hu Cheng, deputy general manager of Maxbusy Finance Company Limite d (Maxbusy) to assist Ng's loan application.
It was alleged that Capcol already charged Ng a consultancy fee and the defendant solicited an additional $700,000 claimed to be the commissions for Hu, without Hu's knowledge.
The case was adjourned until June 28 this year for trial. The defendant was granted cash bail of $15,000 and a surety of $35,000.
Ng, 50, was found guilty in September last year of attempting to offer $700,000, through Chan, to Hu, as a reward for Hu to approve the $23 million loan.
The prosecution was today represented by ICAC officer Anthony Chun Che-ying.
Chan Kai-yan, 52, of DM Capcol Group Limited (Capcol), was charged by the ICAC last Friday with two offences. When appearing in Western Court this (Monday) morning, he pleaded not guilty before Magistrate Mr Kevin Browne.
Capcol's main business was to introduce and arrange borrowers to obtain loans from banks and financial institutions. The company charged the borrowers consultancy fees for providing the services.
Chan was alleged of having dishonestly procured the execution of two cheques for $700,000 in total on August 20, 1997, by falsely representing to Ng Pak-min that the money was a reward for Hu Cheng, deputy general manager of Maxbusy Finance Company Limite d (Maxbusy) to assist Ng's loan application.
It was alleged that Capcol already charged Ng a consultancy fee and the defendant solicited an additional $700,000 claimed to be the commissions for Hu, without Hu's knowledge.
The case was adjourned until June 28 this year for trial. The defendant was granted cash bail of $15,000 and a surety of $35,000.
Ng, 50, was found guilty in September last year of attempting to offer $700,000, through Chan, to Hu, as a reward for Hu to approve the $23 million loan.
The prosecution was today represented by ICAC officer Anthony Chun Che-ying.