Four mortgage loan applicants were charged by the ICAC today (August 16) in separate cases for allegedly defrauding a financial services company into granting them loans totalling about $13 million by making false representations about their occupations and salaries.

ICAC Commissioner Mr Woo Ying-ming today (August 14) issued the following statement:

A former branch manager of a currency exchange company, charged by the ICAC, today (August 12) admitted at the West Kowloon Magistrates’ Courts that he had used remittance application forms containing false information to deceive the company that a customer had settled the remittance amount in full before remitting a total of over $7.5 million.

A former co-owner of a button manufacturer and an insurance agent were charged by the ICAC today (August 11) for allegedly conspiring together to deceive the manufacturer into renewing its products liability insurance policies at inflated annual premiums for six years involving a total of over $470,000.

Two former insurance agents, charged by the ICAC, were respectively sentenced to 18 months’ jail and 160 hours of community service at the District Court today (August 5) for deceiving an insurer into releasing commissions and compensation totalling about $700,000 by making false representations on the occupations and incomes of nine insurance policy applicants, and falsely representing that they were injured after the insurance policies were successfully taken out.

A former sales manager of an insurance broker, charged by the ICAC, today (August 4) admitted at the Eastern Magistrates’ Courts that she had induced the firm into paying referral fees totalling over $19,000 to her husband by making false representations that he was the referrer of 18 insurances policies taken out by clients.

A candidate of the 2020 Legislative Council General Election (2020 LegCo Election) for the New Territories West Geographical Constituency was charged by the ICAC today (August 3) with lodging a false election return to the Registration and Electoral Office (REO) and attempted fraud over election expenses of over $46,000.

A former manager of a Korean chain restaurant was charged by the ICAC today (August 3) with deceiving the restaurant into paying wages totalling about $26,000 by falsifying the payroll records of eight part-time staff in the same month.

An applicant of the Community Care Fund (CCF), charged by the ICAC, was today (August 2) sentenced to five weeks’ imprisonment at the Kowloon City Magistrates’ Courts for bribing staff members of the CCF Secretariat in relation to his application for an allowance.

The ICAC today (August 1) charged a property buyer for allegedly deceiving a bank and the HKMC Insurance Limited (HKMCI) into granting a mortgage loan with a loan-to-value (LTV) ratio of 80 per cent, amounting to about $7.8 million, by making false representations that a flat was purchased for self-use.