Senior Police Constable admits accepting $50,000 unauthorised loans
2008-5-27
A Senior Police Constable, charged by the ICAC, today (Tuesday) admitted at Shatin Magistracy that he had accepted unauthorised loans totalling $50,000 from his friend, a “loan-shark”.
Eric Chan Koon-kin, 43, who was attached to the Enforcement and Control Division of Traffic Kowloon West Headquarters, pleaded guilty to three counts of prescribed officer accepting an advantage, contrary to Section 3 of the Prevention of Bribery Ordinanc e.
Co-defendant Siu Suk-yee, 39, who lent money to Chan, admitted two counts of lending a total of $47,000 at an effective rate of interest exceeding 60 per cent per annum.
Magistrate Mr Li Wai-chi adjourned the case until June 10 for sentence, pending probation and community service order reports. Chan was granted cash bail of $3,000, while Siu was remanded in the custody of the Correctional Services Department.
The court heard that between August 31 and September 28, 2006, Chan had borrowed three loans of $50,000 from Siu, without the general or special permission of the Chief Executive.
On Siu’s request, Chan signed an “IOU”, undertaking to make 18 monthly repayments.
According to the agreed terms in the “IOU”, the annual interest rate for the first loan of $2,000 was 123.46%, while the interest rate for another loan of $45,000 was 135.16%.
The court heard that as at December 2006, Chan had not fully repaid the loans to Siu.
The prosecution was today represented by prosecuting counsel Sabrina See, assisted by ICAC officer Bonnie Mak.
Meanwhile, Chan was charged today with two counts of conspiracy to pervert the course of public justice in a separate case, which arose from the same corruption investigation.
The charges allege that on two occasions between July 9 and October 23, 2006, Chan had conspired with another person to pervert the course of public justice by falsely representing to the Police that that person had been the driver of a vehicle, which had been detected committing a road traffic offence whilst being driven on a public road.
Chan has been released on ICAC bail, pending his court appearance at 9:30 am in Kowloon City Magistracy on Thursday (May 29).
Eric Chan Koon-kin, 43, who was attached to the Enforcement and Control Division of Traffic Kowloon West Headquarters, pleaded guilty to three counts of prescribed officer accepting an advantage, contrary to Section 3 of the Prevention of Bribery Ordinanc e.
Co-defendant Siu Suk-yee, 39, who lent money to Chan, admitted two counts of lending a total of $47,000 at an effective rate of interest exceeding 60 per cent per annum.
Magistrate Mr Li Wai-chi adjourned the case until June 10 for sentence, pending probation and community service order reports. Chan was granted cash bail of $3,000, while Siu was remanded in the custody of the Correctional Services Department.
The court heard that between August 31 and September 28, 2006, Chan had borrowed three loans of $50,000 from Siu, without the general or special permission of the Chief Executive.
On Siu’s request, Chan signed an “IOU”, undertaking to make 18 monthly repayments.
According to the agreed terms in the “IOU”, the annual interest rate for the first loan of $2,000 was 123.46%, while the interest rate for another loan of $45,000 was 135.16%.
The court heard that as at December 2006, Chan had not fully repaid the loans to Siu.
The prosecution was today represented by prosecuting counsel Sabrina See, assisted by ICAC officer Bonnie Mak.
Meanwhile, Chan was charged today with two counts of conspiracy to pervert the course of public justice in a separate case, which arose from the same corruption investigation.
The charges allege that on two occasions between July 9 and October 23, 2006, Chan had conspired with another person to pervert the course of public justice by falsely representing to the Police that that person had been the driver of a vehicle, which had been detected committing a road traffic offence whilst being driven on a public road.
Chan has been released on ICAC bail, pending his court appearance at 9:30 am in Kowloon City Magistracy on Thursday (May 29).