Ex-insurance manager jailed for fraud over down-line agent employment
2020-8-11
A former manager of an insurance company, charged by the ICAC, was today (August 11) sentenced to five months’ imprisonment at the Eastern Magistrates’ Courts for deceiving the company into hiring a person as her down-line agent with fake working experience.
Ann Kwong Sau-mei, 56, former insurance manager of ACE Life insurance Company Limited (ACE), was earlier found guilty of one count of fraud, contrary to Section 16A(1) of the Theft Ordinance. ACE was renamed as Chubb Life Insurance Company Limited (Chubb) in April 2016.
In sentencing, Magistrate Ms Stephanie Tsui May-har remarked that the case involved a premeditated fraud and breach of trust.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above offence.
The court heard that the defendant joined ACE as an insurance manager in May 2014. Under her employment contract, she would be entitled to receiving a bonus of about $330,000 if she could maintain nine down-line agents as at the end of April 2016.
Should the defendant wish to employ a person as her down-line agent, she would have to submit an application form stating the applicant’s working experience, together with relevant supporting documents to ACE.
In early 2016, the defendant discussed with a man about recruiting him as her down-line agent. They did not agree on the arrangement but the defendant submitted to ACE an application form signed by her stating that the man had assumed managerial posts at two companies between 2002 and 2016.
Believing that the information stated on the application form was genuine, ACE approved the employment of the man as the defendant’s down-line agent on April 26, 2016.
The man did not know he was employed by ACE, and he had never worked for the two companies which were owned and operated by the defendant and her son respectively.
The court heard that on April 21, 2016, the defendant maintained eight down-line agents. In June 2016, ACE granted her a bonus of about $330,000 in accordance with her employment contract as she maintained at least nine down-line agents, including the aforesaid man, by the end of April 2016.
Chubb had rendered full assistance to the ICAC during its investigation.
The prosecution was today represented by Acting Senior Public Prosecutor Paggie Lee, assisted by ICAC officer Leung Po-shan.
Ann Kwong Sau-mei, 56, former insurance manager of ACE Life insurance Company Limited (ACE), was earlier found guilty of one count of fraud, contrary to Section 16A(1) of the Theft Ordinance. ACE was renamed as Chubb Life Insurance Company Limited (Chubb) in April 2016.
In sentencing, Magistrate Ms Stephanie Tsui May-har remarked that the case involved a premeditated fraud and breach of trust.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above offence.
The court heard that the defendant joined ACE as an insurance manager in May 2014. Under her employment contract, she would be entitled to receiving a bonus of about $330,000 if she could maintain nine down-line agents as at the end of April 2016.
Should the defendant wish to employ a person as her down-line agent, she would have to submit an application form stating the applicant’s working experience, together with relevant supporting documents to ACE.
In early 2016, the defendant discussed with a man about recruiting him as her down-line agent. They did not agree on the arrangement but the defendant submitted to ACE an application form signed by her stating that the man had assumed managerial posts at two companies between 2002 and 2016.
Believing that the information stated on the application form was genuine, ACE approved the employment of the man as the defendant’s down-line agent on April 26, 2016.
The man did not know he was employed by ACE, and he had never worked for the two companies which were owned and operated by the defendant and her son respectively.
The court heard that on April 21, 2016, the defendant maintained eight down-line agents. In June 2016, ACE granted her a bonus of about $330,000 in accordance with her employment contract as she maintained at least nine down-line agents, including the aforesaid man, by the end of April 2016.
Chubb had rendered full assistance to the ICAC during its investigation.
The prosecution was today represented by Acting Senior Public Prosecutor Paggie Lee, assisted by ICAC officer Leung Po-shan.