Five charged for allegedly deceiving Housing Authority and bank loans
2004-11-4
Five persons were yesterday (Wednesday) charged by the ICAC for allegedly deceiving loans from the Hong Kong Housing Authority (HA) and a bank by submitting false supporting documents and inflating the purchase prices of two properties concerned.
The defendants are Yung Siu-ling, 35, a property vendor; Yung Siu-wah, 36, a property agent; Danny Chung Man-fai, 21, Lam Kin-chun, 21, and Yu Ming-wai, 42, all loan applicants.
They will appear in North Kowloon Magistracy at 9:30 am tomorrow (Friday) on a total of seven counts of conspiracy to defraud in three separate cases.
In the first case, Yung Siu-ling alone faces one count of conspiring with other persons to defraud a bank by inflating the purchase price of a property in Apliu Street from $580,000 to $860,000.
In respect of the same property, Lam was charged with two counts of conspiracy to defraud.
He is alleged to have conspired with other persons to defraud HA and the bank by falsely stating the information about his employment and monthly income in the applications for a loan under the Home Assistance Loan Scheme (HALS) of HA and a mortgage loan respectively.
In the second case, Yung Siu-ling, together with Yung Siu-wah and Chung, face a joint charge of conspiring with other persons to defraud the bank into granting a $505,000 mortgage loan to Chung by dishonestly representing false information in an applicati on for the loan, and by inflating the purchase price of another property in Apliu Street from $580,000 to $850,000.
Chung is also alleged to have conspired with other persons to defraud HA by falsely stating the information about his employment and monthly income in the application form for a loan under HALS.
In the third case, Yu faces two similar offences of conspiracy to defraud HA and the bank by similar fraudulent means.
The alleged offences in these cases took place between February and December last year.
The ICAC earlier mounted an operation in relation to a fraudulent scheme to obtain loans fron HA and a number of banks allegedly facilitated by corruption. The defendants were among a number of persons arrested in the operation.
The defendants have been released on ICAC bail, pending their court appearances tomorrow.
The defendants are Yung Siu-ling, 35, a property vendor; Yung Siu-wah, 36, a property agent; Danny Chung Man-fai, 21, Lam Kin-chun, 21, and Yu Ming-wai, 42, all loan applicants.
They will appear in North Kowloon Magistracy at 9:30 am tomorrow (Friday) on a total of seven counts of conspiracy to defraud in three separate cases.
In the first case, Yung Siu-ling alone faces one count of conspiring with other persons to defraud a bank by inflating the purchase price of a property in Apliu Street from $580,000 to $860,000.
In respect of the same property, Lam was charged with two counts of conspiracy to defraud.
He is alleged to have conspired with other persons to defraud HA and the bank by falsely stating the information about his employment and monthly income in the applications for a loan under the Home Assistance Loan Scheme (HALS) of HA and a mortgage loan respectively.
In the second case, Yung Siu-ling, together with Yung Siu-wah and Chung, face a joint charge of conspiring with other persons to defraud the bank into granting a $505,000 mortgage loan to Chung by dishonestly representing false information in an applicati on for the loan, and by inflating the purchase price of another property in Apliu Street from $580,000 to $850,000.
Chung is also alleged to have conspired with other persons to defraud HA by falsely stating the information about his employment and monthly income in the application form for a loan under HALS.
In the third case, Yu faces two similar offences of conspiracy to defraud HA and the bank by similar fraudulent means.
The alleged offences in these cases took place between February and December last year.
The ICAC earlier mounted an operation in relation to a fraudulent scheme to obtain loans fron HA and a number of banks allegedly facilitated by corruption. The defendants were among a number of persons arrested in the operation.
The defendants have been released on ICAC bail, pending their court appearances tomorrow.