Six months for offering $684,000 bribes over bogus insurance policies
2013-3-27
A former insurance agent, charged by the ICAC, was today (Wednesday) sentenced to six months’ imprisonment at the Eastern Magistracy for conspiracy to offer over $684,000 in bribes to his supervisor for procuring bogus insurance policies from the latter.
Yu Chung-ming, 34, formerly employed by Dah Sing Insurance Services Limited (Dah Sing Insurance) as a team manager, was also ordered by Magistrate Ms Cheung Kit-yee to pay the company over $66,000 as restitution.
In sentencing, the magistrate remarked that the defendant’s jail term was reduced to six months taking into account his guilty plea, good background and ill health of his mother.
The defendant earlier pleaded guilty to one count of conspiracy to offer advantages to an agent, contrary to Section 9(2)(a) of the Prevention of Bribery Ordinance (POBO) and Section 159A of the Crimes Ordinance; and one of offering an advantage to an age nt, contrary to Section 9(2)(a) of the POBO.
The defendant also admitted one count of agents conspiring to use documents with intent to deceive his principal, contrary to Section 9(3) of the POBO and Section 159A of the Crimes Ordinance.
The court heard that between May 19, 2008 and October 28, 2009, the defendant was employed by Dah Sing Insurance as a team manager under the direct supervision of a branch manager.
For each new policy application the defendant procured, the branch manager was entitled to an overriding commission.
While being employed by Dah Sing Insurance, the defendant signed on the application forms and sales personnel reports in relation to 11 insurance policies purportedly handled by him.
In fact, all personal data of the policy applicants were supplied by the branch manager, and the defendant had never dealt with those applicants.
The allowances and commissions in relation to those bogus insurance policies were subsequently deposited into the defendant’s payroll account. The court heard that the defendant gave 14 pre-signed blank cheques to the branch manager to draw those allowances and commissions from the defendant’s bank account.
As a result, the branch manager withdrew a total of $658,000 from the defendant’s payroll account between August 13, 2008 and September 11, 2009 as rewards for helping him procure those bogus insurance policies.
On October 9, 2009, the defendant also received his salary of over $26,000 from Dah Sing Insurance. A few days later, he withdrew the money from his payroll account, and gave it to the branch manager for the same purpose, the court was told.
Dah Sing Insurance had rendered full assistance to the ICAC during its investigation.
The prosecution was today represented by Senior Public Prosecutor Cecilia Chan, assisted by ICAC officer Jenny Chau.
Yu Chung-ming, 34, formerly employed by Dah Sing Insurance Services Limited (Dah Sing Insurance) as a team manager, was also ordered by Magistrate Ms Cheung Kit-yee to pay the company over $66,000 as restitution.
In sentencing, the magistrate remarked that the defendant’s jail term was reduced to six months taking into account his guilty plea, good background and ill health of his mother.
The defendant earlier pleaded guilty to one count of conspiracy to offer advantages to an agent, contrary to Section 9(2)(a) of the Prevention of Bribery Ordinance (POBO) and Section 159A of the Crimes Ordinance; and one of offering an advantage to an age nt, contrary to Section 9(2)(a) of the POBO.
The defendant also admitted one count of agents conspiring to use documents with intent to deceive his principal, contrary to Section 9(3) of the POBO and Section 159A of the Crimes Ordinance.
The court heard that between May 19, 2008 and October 28, 2009, the defendant was employed by Dah Sing Insurance as a team manager under the direct supervision of a branch manager.
For each new policy application the defendant procured, the branch manager was entitled to an overriding commission.
While being employed by Dah Sing Insurance, the defendant signed on the application forms and sales personnel reports in relation to 11 insurance policies purportedly handled by him.
In fact, all personal data of the policy applicants were supplied by the branch manager, and the defendant had never dealt with those applicants.
The allowances and commissions in relation to those bogus insurance policies were subsequently deposited into the defendant’s payroll account. The court heard that the defendant gave 14 pre-signed blank cheques to the branch manager to draw those allowances and commissions from the defendant’s bank account.
As a result, the branch manager withdrew a total of $658,000 from the defendant’s payroll account between August 13, 2008 and September 11, 2009 as rewards for helping him procure those bogus insurance policies.
On October 9, 2009, the defendant also received his salary of over $26,000 from Dah Sing Insurance. A few days later, he withdrew the money from his payroll account, and gave it to the branch manager for the same purpose, the court was told.
Dah Sing Insurance had rendered full assistance to the ICAC during its investigation.
The prosecution was today represented by Senior Public Prosecutor Cecilia Chan, assisted by ICAC officer Jenny Chau.