Ex-senior regional manager of insurer charged by ICAC over commission fraud
2022-6-7
The ICAC today (June 7) charged a former senior regional manager of an insurance company with deceiving the insurer into paying commissions and bonuses totalling over $87,000 to her and her daughter-cum-downline insurance agent by making false representations that three insurance policies were handled by her daughter.
Christina Yiu Po-nga, 64, former senior regional manager of Prudential Hong Kong Limited (Prudential HK), faces three counts of fraud, contrary to Section 16A(1) of the Theft Ordinance.
The ICAC investigation arose from a corruption complaint. Upon completion of the investigation, the Commission sought legal advice from the Department of Justice, which advised charging the defendant. She was released on ICAC bail, pending her appearance in the Eastern Magistrates’ Courts on Thursday (June 9) for plea.
The offences took place between February 2012 and March 2015 when the defendant was a senior regional manager of Prudential HK. During the period, her daughter was a down-line insurance agent of hers. In March 2014, her daughter was demoted by the company.
When an insurance product was sold by an insurance agent of Prudential HK, the relevant handling agent and up-line manager would respectively receive a commission and an overriding commission from the company.
The charges allege that the defendant, by falsely representing to Prudential HK that her daughter was the handling agent of three insurance policies, and with intent to defraud, induced Prudential HK to underwrite and issue those insurance policies and to pay commissions or other payments in relation to them to the defendant and her daughter.
ICAC investigation revealed that Prudential HK had released commissions, overriding commissions and bonuses totalling over $87,000 to the defendant and her daughter for the above three policies.
Prudential HK has rendered full assistance to the ICAC during its investigation into the case.
Christina Yiu Po-nga, 64, former senior regional manager of Prudential Hong Kong Limited (Prudential HK), faces three counts of fraud, contrary to Section 16A(1) of the Theft Ordinance.
The ICAC investigation arose from a corruption complaint. Upon completion of the investigation, the Commission sought legal advice from the Department of Justice, which advised charging the defendant. She was released on ICAC bail, pending her appearance in the Eastern Magistrates’ Courts on Thursday (June 9) for plea.
The offences took place between February 2012 and March 2015 when the defendant was a senior regional manager of Prudential HK. During the period, her daughter was a down-line insurance agent of hers. In March 2014, her daughter was demoted by the company.
When an insurance product was sold by an insurance agent of Prudential HK, the relevant handling agent and up-line manager would respectively receive a commission and an overriding commission from the company.
The charges allege that the defendant, by falsely representing to Prudential HK that her daughter was the handling agent of three insurance policies, and with intent to defraud, induced Prudential HK to underwrite and issue those insurance policies and to pay commissions or other payments in relation to them to the defendant and her daughter.
ICAC investigation revealed that Prudential HK had released commissions, overriding commissions and bonuses totalling over $87,000 to the defendant and her daughter for the above three policies.
Prudential HK has rendered full assistance to the ICAC during its investigation into the case.