Police Constable charged for alleged loan-sharking and dealing with illegal proceeds
2008-5-7
The ICAC has charged a Police Constable for his alleged role in loan-sharking activities and dealing with illegal proceeds.
Chan Wai-wing, 37, faces four charges - two of aiding and abetting a person to lend money at an excessive rate of interest which exceeds 60 per cent per annum, one of lending money at an excessive rate of interest which exceeds 60 per cent per annum, and one of dealing with property knowing or believing it to represent the proceeds of an indictable offence.
The defendant will appear in Eastern Magistracy at 9:30 am on Friday (May 9) for plea.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
One of the charges alleges that the defendant had aided and abetted an unknown person in September 2005 to lend $100,000 at an effective rate of interest exceeding 60 per cent per annum, namely, approximately 481 per cent per annum.
A similar charge alleges the defendant of aiding and abetting an unknown person in February 2007 to lend $100,000 at an effective rate of interest exceeding 60 per cent per annum, namely, approximately 570 per cent per annum.
The defendant is also alleged of lending $20,000 in May 2007 at an effective rate of interest exceeding 60 per cent per annum, namely, approximately 514 per cent per annum.
The remaining charge alleges that between October 2005 and May 2007, the defendant had dealt with a sum of $512,400, knowing or having reasonable grounds to believe that the sum of money, in whole or in part, directly or indirectly represented the proceed s of an indictable offence.
The defendant has been released on ICAC bail, pending his court appearance on Friday.
Chan Wai-wing, 37, faces four charges - two of aiding and abetting a person to lend money at an excessive rate of interest which exceeds 60 per cent per annum, one of lending money at an excessive rate of interest which exceeds 60 per cent per annum, and one of dealing with property knowing or believing it to represent the proceeds of an indictable offence.
The defendant will appear in Eastern Magistracy at 9:30 am on Friday (May 9) for plea.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
One of the charges alleges that the defendant had aided and abetted an unknown person in September 2005 to lend $100,000 at an effective rate of interest exceeding 60 per cent per annum, namely, approximately 481 per cent per annum.
A similar charge alleges the defendant of aiding and abetting an unknown person in February 2007 to lend $100,000 at an effective rate of interest exceeding 60 per cent per annum, namely, approximately 570 per cent per annum.
The defendant is also alleged of lending $20,000 in May 2007 at an effective rate of interest exceeding 60 per cent per annum, namely, approximately 514 per cent per annum.
The remaining charge alleges that between October 2005 and May 2007, the defendant had dealt with a sum of $512,400, knowing or having reasonable grounds to believe that the sum of money, in whole or in part, directly or indirectly represented the proceed s of an indictable offence.
The defendant has been released on ICAC bail, pending his court appearance on Friday.