Eight charged for $1m tax loan fraud following bank referral
2000-10-27
Eight persons, including a former bank manager, were charged by the ICAC for their alleged involvement in a $1 million tax loan fraud as a result of a referral from the bank management.
Siu Ying-yuen, 45, former branch operations and control manager of Belgian Bank; Lee Ning-ying, 53, Poon Chi-yin, 53, Cheung Chun-kong, 44, Leung Yau-sheung, 52, Fung Kam-shun, 52, all taxi drivers; Leung Yiu-sheung, 47, lorry driver; and Ho Heung-sing, 4 6, merchant, appeared in Eastern Court this (Friday) morning on a total of six conspiracy offences.
No pleas were taken. Magistrate Mr Timothy Casewell adjourned the case until November 17 this year, pending transfer to District Court.
The Belgian Bank had suspected that its staff might have accepted bribes for improperly approving loans and subsequently made a complaint to the ICAC.
The bank rendered full assistance to the ICAC which found that a bank manager and seven applicants had allegedly cheated tax loans from the bank with applications supported by false documents.
Enquiries also revealed that as a result of the scam, of the total $1,030,000 tax loans applied, the bank had released $280,000.
The six charges alleged that the defendants had conspired together and with a person nicknamed "Tai Luk Chan" and other persons unknown to defraud the Kwun Tong, Causeway Bay, Central, Hung Hom, Kowloon Bay branches of Belgian Bank.
They were said to have falsely represented that Lee Ning-ying, Poon Chi-yin, Cheung Chun-kong, Leung Yau-sheung, Leung Yiu-sheung and Li Yin-lai were genuine applicants for tax loans totalling $1,030,000, and submitted false documents to the bank to suppo rt the applications.
The defendants also allegedly procured the approval of the bank, and caused the bank to release sums totalling $970,000 to the applicants.
They were granted cash bail ranging from $500 to $10,000, and ordered to report to the Police once a week.
The prosecution was today represented by ICAC officer Aman Chee.
Siu Ying-yuen, 45, former branch operations and control manager of Belgian Bank; Lee Ning-ying, 53, Poon Chi-yin, 53, Cheung Chun-kong, 44, Leung Yau-sheung, 52, Fung Kam-shun, 52, all taxi drivers; Leung Yiu-sheung, 47, lorry driver; and Ho Heung-sing, 4 6, merchant, appeared in Eastern Court this (Friday) morning on a total of six conspiracy offences.
No pleas were taken. Magistrate Mr Timothy Casewell adjourned the case until November 17 this year, pending transfer to District Court.
The Belgian Bank had suspected that its staff might have accepted bribes for improperly approving loans and subsequently made a complaint to the ICAC.
The bank rendered full assistance to the ICAC which found that a bank manager and seven applicants had allegedly cheated tax loans from the bank with applications supported by false documents.
Enquiries also revealed that as a result of the scam, of the total $1,030,000 tax loans applied, the bank had released $280,000.
The six charges alleged that the defendants had conspired together and with a person nicknamed "Tai Luk Chan" and other persons unknown to defraud the Kwun Tong, Causeway Bay, Central, Hung Hom, Kowloon Bay branches of Belgian Bank.
They were said to have falsely represented that Lee Ning-ying, Poon Chi-yin, Cheung Chun-kong, Leung Yau-sheung, Leung Yiu-sheung and Li Yin-lai were genuine applicants for tax loans totalling $1,030,000, and submitted false documents to the bank to suppo rt the applications.
The defendants also allegedly procured the approval of the bank, and caused the bank to release sums totalling $970,000 to the applicants.
They were granted cash bail ranging from $500 to $10,000, and ordered to report to the Police once a week.
The prosecution was today represented by ICAC officer Aman Chee.