SME director admits $25m bank loans fraud
A director of a Small and Medium Enterprise (SME), charged by the ICAC, admitted at the District Court today (April 1) her role in defrauding five banks of 33 loans totalling about $25 million and banking facilities totalling $22.5 million, as well as deceiving a government department and a public body into acting as guarantors for loans and trade facilities totalling $15.8 million granted by the banks.