12 months' jail for swindler claiming 'insider' horse racing tips
2004-3-9
An unemployed man was today (Tuesday) sentenced to 12 months' imprisonment at Eastern Magistracy for deceiving over $120,000 from a victim by advertising "insider" horse racing tips, and inducing the victim to deposit money into his telebet and bank accou nts on various pretexts.
Kwan Wan-lung, 35, earlier pleaded guilty to one count of obtaining property by deception, and one of procuring the making of an entry of a bank record by deception.
Magistrate Mr Ian Candy said the defendant deserved a custodial sentence in view of the fraudulent plot, which lasted a certain period of time.
The case arose from a corruption complaint. Subsequent ICAC inquiries revealed the deception offences.
The court heard that Kwan operated a company named Ma Sen Tips through a website, claiming that he could obtain horse racing tips from "insiders" for sale.
In November 2001, Kwan put up notices on Ma Sen Tips outside an off-course betting centre. The victim saw the notice and contacted Kwan by telephone.
On January 20, 2002, Kwan asked the victim to deposit $2,000 into his telebet account, so that he could place bets on the victim's behalf. The victim did so accordingly.
Kwan later told the victim that he had won $290,000 in a horse race, and requested the victim to pay $61,000 as "service charge" before releasing the dividend to him. The victim deposited the money into Kwan"s bank account as told.
Two days later, Kwan told the victim that the bank account holding his dividend had been frozen due to an ICAC investigation.
Kwan requested the victim to transfer more funds into the account so as to "distract" the alleged ICAC inquiry.
The victim followed Kwan's instruction, and deposited over $57,000 into Kwan's account. A few days later, Kwan transferred $12,000 back to the victim's account.
On June 18, 2002, Kwan told the victim that in order for the bank to release the dividend of $290,000, he had to give the relevant bank employee a sum of $29,000 as "tea money". The victim deposited $14,500 as partial payment into another account provide d by Kwan.
Afterwards, the victim kept chasing Kwan up for the dividend, but to no avail. Since June 2002, the website ceased operation.
The court heard that Kwan's bank accounts had never been frozen by the ICAC, while the "bank employee" concerned was not a staff of any banks, but was in fact Kwan's girlfriend.
The prosecution was today represented by ICAC officer Chong Kwok-sum.
Kwan Wan-lung, 35, earlier pleaded guilty to one count of obtaining property by deception, and one of procuring the making of an entry of a bank record by deception.
Magistrate Mr Ian Candy said the defendant deserved a custodial sentence in view of the fraudulent plot, which lasted a certain period of time.
The case arose from a corruption complaint. Subsequent ICAC inquiries revealed the deception offences.
The court heard that Kwan operated a company named Ma Sen Tips through a website, claiming that he could obtain horse racing tips from "insiders" for sale.
In November 2001, Kwan put up notices on Ma Sen Tips outside an off-course betting centre. The victim saw the notice and contacted Kwan by telephone.
On January 20, 2002, Kwan asked the victim to deposit $2,000 into his telebet account, so that he could place bets on the victim's behalf. The victim did so accordingly.
Kwan later told the victim that he had won $290,000 in a horse race, and requested the victim to pay $61,000 as "service charge" before releasing the dividend to him. The victim deposited the money into Kwan"s bank account as told.
Two days later, Kwan told the victim that the bank account holding his dividend had been frozen due to an ICAC investigation.
Kwan requested the victim to transfer more funds into the account so as to "distract" the alleged ICAC inquiry.
The victim followed Kwan's instruction, and deposited over $57,000 into Kwan's account. A few days later, Kwan transferred $12,000 back to the victim's account.
On June 18, 2002, Kwan told the victim that in order for the bank to release the dividend of $290,000, he had to give the relevant bank employee a sum of $29,000 as "tea money". The victim deposited $14,500 as partial payment into another account provide d by Kwan.
Afterwards, the victim kept chasing Kwan up for the dividend, but to no avail. Since June 2002, the website ceased operation.
The court heard that Kwan's bank accounts had never been frozen by the ICAC, while the "bank employee" concerned was not a staff of any banks, but was in fact Kwan's girlfriend.
The prosecution was today represented by ICAC officer Chong Kwok-sum.