A Superintendent of Police, charged by the ICAC, was today (Wednesday) convicted at Eastern Magistracy of deceiving loans totalling about $1.14 million from financial institutions.

Philip Cheng Po-yan, 48, was found guilty of five counts of attempting to obtain a pecuniary advantage by deception, and one of attempted fraud.

Co-defendants Cheng Ka-kiu, 26, and Tsui Po-sum, 35, were each convicted of one count of furnishing false information.

Magistrate Mr Eddie Yip adjourned sentencing until October 21, 2004, pending community service order and background reports. The defendants were remanded in the custody of the Correctional Services Department.

The court heard that between August 2000 and July 2001, Cheng Po-yan had obtained five personal loans, totalling $990,000, from JCG Finance Company Limited, Dah Sing Bank Limited and Wang Hang Credit Limited (Wang Hang).

In applying for the loans, Cheng Po-yan had misrepresented his true and complete financial liabilities by failing to disclose mortgages and personal loans obtained from other financial institutions.

By similar fraudulent means, Cheng Po-yan had induced SHK Finance Limited to grant him a personal loan of $150,000 in July 2001.

The court also heard that in August and October 2000, co-defendants Cheng Ka-kiu and Tsui each applied for a personal loan of $180,000 from Wing Hang.

In their applications, the co-defendants had furnished false information in relation to their employment records.

The court heard that Cheng Po-yan acted as guarantor for the co-defendants in their applications, which were subsequently approved by the finance company.

The prosecution was today represented by Ms Susanna Ku, counsel on fiat, assisted by ICAC officer Calvin Wong.