Ex-property agent charged by ICAC admits $4.9m mortgage loan fraud
A former property agent, charged by the ICAC, admitted at the District Court today (January 30) that he had deceived a bank, the Hong Kong Mortgage Corporation Limited (HKMC) and its subsidiary into maintaining to grant a mortgage loan of about $4.9 million to him by making false representations that a residential property was for self-use. The offences were revealed in the course of a corruption investigation by the ICAC.