Ex-credit officer allegedly stole $750,000 loan payments to support luxury life
2000-4-18
An ICAC investigation earlier revealed that a former credit control officer of a Japanese bank operating in Hong Kong had allegedly pocketed loan payments totalling about $750,000 to support a luxury life.
Leung Tze-kin, 27, formerly employed by ORIX Asia Limited (ORIX), was yesterday charged with 17 theft charges. No plea was taken when he appeared at Eastern Court this morning.
Magistrate Mr Ian Candy adjourned the case until May 9, 2000, pending transfer to the District Court.
The suspected scam was revealed in an ICAC investigation into an allegation that a former loan officer of a restricted licensed bank might have offered bribes to his supervisor and other staff to cover up his fraudulent activities.
ORIX operates in Hong Kong as a restricted licensed bank which offers credit services such as hire purchase, property mortgage loans and business loans.
While being employed by ORIX, Leung was responsible for liaising with clients who failed to repay loans according to the agreed schedule and negotiating with them repayment terms. He also collected cash or cheques from clients which were arrears loan pay ments.
The charges alleged that Leung had stolen cash and cheques totalling $748,054 handed to him by customers to credit their loan accounts with the bank between September 1994 and August 1998.
It was suspected that the defendant had used the stolen proceeds to purchase cars and support a luxury life.
Leung was granted bail of $10,000 in cash and ordered by the court not to leave Hong Kong and not to interfere with prosecution witnesses. He is also under a court order to reside at his present address and to inform the ICAC of any change of address wit hin 24 hours.
Leung Tze-kin, 27, formerly employed by ORIX Asia Limited (ORIX), was yesterday charged with 17 theft charges. No plea was taken when he appeared at Eastern Court this morning.
Magistrate Mr Ian Candy adjourned the case until May 9, 2000, pending transfer to the District Court.
The suspected scam was revealed in an ICAC investigation into an allegation that a former loan officer of a restricted licensed bank might have offered bribes to his supervisor and other staff to cover up his fraudulent activities.
ORIX operates in Hong Kong as a restricted licensed bank which offers credit services such as hire purchase, property mortgage loans and business loans.
While being employed by ORIX, Leung was responsible for liaising with clients who failed to repay loans according to the agreed schedule and negotiating with them repayment terms. He also collected cash or cheques from clients which were arrears loan pay ments.
The charges alleged that Leung had stolen cash and cheques totalling $748,054 handed to him by customers to credit their loan accounts with the bank between September 1994 and August 1998.
It was suspected that the defendant had used the stolen proceeds to purchase cars and support a luxury life.
Leung was granted bail of $10,000 in cash and ordered by the court not to leave Hong Kong and not to interfere with prosecution witnesses. He is also under a court order to reside at his present address and to inform the ICAC of any change of address wit hin 24 hours.