Superintendent of Police jailed for deceiving $1.1m loans from financial institutions
2004-10-21
A Superintendent of Police, charged by the ICAC, was today (Thursday) sentenced to three months' imprisonment at Eastern Magistracy for deceiving loans totalling about $1.14 million from financial institutions.
Philip Cheng Po-yan, 48, was earlier found guilty by Magistrate Mr Eddie Yip 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, who were each convicted of one count of furnishing false information, were each sentenced to two weeks' imprisonment today.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the deception and fraud offences.
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.
Cheng Po-yan was granted cash bail of $80,000, pending his appeal against conviction. He was also ordered not to leave Hong Kong, and to report to the Police twice a week.
The prosecution was today represented by Ms Susanna Ku, counsel on fiat, assisted by ICAC officer Calvin Wong.
Philip Cheng Po-yan, 48, was earlier found guilty by Magistrate Mr Eddie Yip 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, who were each convicted of one count of furnishing false information, were each sentenced to two weeks' imprisonment today.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the deception and fraud offences.
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.
Cheng Po-yan was granted cash bail of $80,000, pending his appeal against conviction. He was also ordered not to leave Hong Kong, and to report to the Police twice a week.
The prosecution was today represented by Ms Susanna Ku, counsel on fiat, assisted by ICAC officer Calvin Wong.