Superintendent of Police charged for allegedly deceiving $2.25m loans from financial institutions
2003-6-2
A Superintendent of Police, arrested by the ICAC during a corruption inquiry, was today (Monday) charged for allegedly deceiving loans totalling $2.25 million from a finance company, a bank and two licensed money lenders.
Philip Cheng Po-yan, 46, will appear in Eastern Magistracy at 9:30 am tomorrow on three counts of obtaining a pecuniary advantage by deception, as well as five similar charges and two counts of fraud in separate cases.
Also charged in connection with one of the cases are Connie Lam Lai-wa, 39, company director; Cheng Ka-kiu, 25, marketing executive; and Tsui Po-sum, 34, clerk. They will also appear in Eastern Magistracy tomorrow morning, each facing one count of obtain ing a pecuniary advantage by deception.
In the first case, Cheng Po-yan faces three counts of dishonestly obtaining personal loans totalling $540,000 for Lam Lai-wa, Cheng Ka-kiu and Tsui Po-sum from a finance company by deception.
Cheng Po-yan, who allegedly acted as a guarantor in the above loan applications, was said to have misrepresented his true and complete financial liabilities by failing to disclose mortgages and personal loans obtained from other financial institutions.
Lam Lai-wa, Cheng Ka-kiu and Tsui Po-sum each faces one count of obtaining a personal loan by furnishing a false employment letter.
In the second case, Cheng Po-yan was charged with five counts of dishonestly obtaining personal loans totalling $960,000 from a finance company and a bank by similar deceptive means.
Cheng Po-yan also faces two counts of fraud, which allege him of inducing two licensed money lenders to grant him personal loans totalling $750,000.
The alleged offences in the above cases took place between January 2000 and July 2001.
The defendants have been released on ICAC bail, pending their court appearances tomorrow.
Philip Cheng Po-yan, 46, will appear in Eastern Magistracy at 9:30 am tomorrow on three counts of obtaining a pecuniary advantage by deception, as well as five similar charges and two counts of fraud in separate cases.
Also charged in connection with one of the cases are Connie Lam Lai-wa, 39, company director; Cheng Ka-kiu, 25, marketing executive; and Tsui Po-sum, 34, clerk. They will also appear in Eastern Magistracy tomorrow morning, each facing one count of obtain ing a pecuniary advantage by deception.
In the first case, Cheng Po-yan faces three counts of dishonestly obtaining personal loans totalling $540,000 for Lam Lai-wa, Cheng Ka-kiu and Tsui Po-sum from a finance company by deception.
Cheng Po-yan, who allegedly acted as a guarantor in the above loan applications, was said to have misrepresented his true and complete financial liabilities by failing to disclose mortgages and personal loans obtained from other financial institutions.
Lam Lai-wa, Cheng Ka-kiu and Tsui Po-sum each faces one count of obtaining a personal loan by furnishing a false employment letter.
In the second case, Cheng Po-yan was charged with five counts of dishonestly obtaining personal loans totalling $960,000 from a finance company and a bank by similar deceptive means.
Cheng Po-yan also faces two counts of fraud, which allege him of inducing two licensed money lenders to grant him personal loans totalling $750,000.
The alleged offences in the above cases took place between January 2000 and July 2001.
The defendants have been released on ICAC bail, pending their court appearances tomorrow.