Ex-legal clerk charged by ICAC in $20m mortgage loans and money laundering case has sentence increased to 75 months after review
2022-7-14
A former legal clerk, charged by the ICAC with defrauding two licensed money lenders of mortgage loans totalling $20 million and laundering part of the sums, had his jail term increased from 47 months to 75 months after the Court of Appeal (CA) review his sentence today (July 14).
Kevin So Kam-wai, 46, former legal clerk of the now defunct K.L. Leung & Co. (KLL-solicitors), was convicted of four charges at the District Court in January 2021 and was subsequently jailed for 47 months in March 2021. The four charges concerned were two of fraud, one of using copies of false instruments and one of dealing with property known or believed to represent proceeds of an indictable offence (commonly known as money laundering), respectively contrary to Section 16A(1) of the Theft Ordinance, Section 74 of the Crimes Ordinance and Section 25(1) of the Organised and Serious Crimes Ordinance.
The Department of Justice (DoJ) subsequently sought a review of Kevin So’s sentence. The application was today heard by Mr Justice Derek Pang Wai-cheong, Madam Justice Maggie Poon Man-kay and Madam Justice Anthea Pang Po-kam, all Justices of Appeal of the CA. In allowing the DoJ’s application, the CA increased the sentence of Kevin So to 75 months.
Co-defendant Jacky So Yun-yue, 53, former legal executive of KLL-solicitors, was jailed for 30 months after being convicted of one count of money laundering jointly charged with Kevin So. He subsequently lodged an appeal against his conviction, which was upheld by the CA today.
The court heard that at the material time, Kevin So and Jacky So were respectively legal clerk and legal executive of KLL-solicitors. Jacky So was also a director of Chilly Associates Limited (Chilly), an offshore company.
Kevin So, as a legal clerk of KLL-solicitors, handled the purchase of a private residential property in Kennedy Town by a couple (the property owners). However, after the transaction was completed in July 2014, the relevant title deed was not furnished to the couple.
In November 2014, Kevin So falsely represented to Sky Credit Limited (Sky Credit), a licensed money lender, that he was authorised by the property owners to handle an application for a mortgage loan of $10 million. Relevant documents purportedly signed by the property owners were submitted to Sky Credit.
Believing that the documents were genuine, Sky Credit released the loan of $10 million into a bank account of Chilly upon an authorisation purportedly signed by the property owners.
ICAC investigation revealed that Jacky So disposed of the loan by transferring over $7.1 million to the bank account of Kevin So and $2.2 million to settle a payment owed to a client of KLL-solicitors. Jacky So kept the remaining $700,000 in his personal bank account.
In March 2015, Sky Credit instituted a civil claim against the property owners, KLL-solicitors and Chilly after it discovered that the repayments of the loan were running into arrears.
The court heard that on March 19, 2015, Kevin So used copies of two letters purportedly issued by the property owners to instruct another solicitors firm which he worked for at that time to act on the behalves of the property owners in the civil claim. The property owners were not aware of the civil claim.
Between February 1 and June 19, 2015, Kevin So also falsely represented to Jafoon Finance Company (Jafoon), another licensed money lender, that the property owners had authorised him to handle an application for another mortgage loan of $10 million on the property.
Believing in Kevin So’s representation which was supported by the authorisation purportedly signed by the property owners, Jafoon released the loan of $10 million, which was later used to repay the loan of Sky Credit.
The court heard that the property owners had never obtained or instructed anyone to obtain the aforesaid two loans totalling $20 million.
The prosecution was today represented by Deputy Director of Public Prosecutions Vinci Lam, prosecuting counsel Juliana Chow and Senior Public Prosecutor Marcus Lee, assisted by ICAC officer Bonnie Mak.
Kevin So Kam-wai, 46, former legal clerk of the now defunct K.L. Leung & Co. (KLL-solicitors), was convicted of four charges at the District Court in January 2021 and was subsequently jailed for 47 months in March 2021. The four charges concerned were two of fraud, one of using copies of false instruments and one of dealing with property known or believed to represent proceeds of an indictable offence (commonly known as money laundering), respectively contrary to Section 16A(1) of the Theft Ordinance, Section 74 of the Crimes Ordinance and Section 25(1) of the Organised and Serious Crimes Ordinance.
The Department of Justice (DoJ) subsequently sought a review of Kevin So’s sentence. The application was today heard by Mr Justice Derek Pang Wai-cheong, Madam Justice Maggie Poon Man-kay and Madam Justice Anthea Pang Po-kam, all Justices of Appeal of the CA. In allowing the DoJ’s application, the CA increased the sentence of Kevin So to 75 months.
Co-defendant Jacky So Yun-yue, 53, former legal executive of KLL-solicitors, was jailed for 30 months after being convicted of one count of money laundering jointly charged with Kevin So. He subsequently lodged an appeal against his conviction, which was upheld by the CA today.
The court heard that at the material time, Kevin So and Jacky So were respectively legal clerk and legal executive of KLL-solicitors. Jacky So was also a director of Chilly Associates Limited (Chilly), an offshore company.
Kevin So, as a legal clerk of KLL-solicitors, handled the purchase of a private residential property in Kennedy Town by a couple (the property owners). However, after the transaction was completed in July 2014, the relevant title deed was not furnished to the couple.
In November 2014, Kevin So falsely represented to Sky Credit Limited (Sky Credit), a licensed money lender, that he was authorised by the property owners to handle an application for a mortgage loan of $10 million. Relevant documents purportedly signed by the property owners were submitted to Sky Credit.
Believing that the documents were genuine, Sky Credit released the loan of $10 million into a bank account of Chilly upon an authorisation purportedly signed by the property owners.
ICAC investigation revealed that Jacky So disposed of the loan by transferring over $7.1 million to the bank account of Kevin So and $2.2 million to settle a payment owed to a client of KLL-solicitors. Jacky So kept the remaining $700,000 in his personal bank account.
In March 2015, Sky Credit instituted a civil claim against the property owners, KLL-solicitors and Chilly after it discovered that the repayments of the loan were running into arrears.
The court heard that on March 19, 2015, Kevin So used copies of two letters purportedly issued by the property owners to instruct another solicitors firm which he worked for at that time to act on the behalves of the property owners in the civil claim. The property owners were not aware of the civil claim.
Between February 1 and June 19, 2015, Kevin So also falsely represented to Jafoon Finance Company (Jafoon), another licensed money lender, that the property owners had authorised him to handle an application for another mortgage loan of $10 million on the property.
Believing in Kevin So’s representation which was supported by the authorisation purportedly signed by the property owners, Jafoon released the loan of $10 million, which was later used to repay the loan of Sky Credit.
The court heard that the property owners had never obtained or instructed anyone to obtain the aforesaid two loans totalling $20 million.
The prosecution was today represented by Deputy Director of Public Prosecutions Vinci Lam, prosecuting counsel Juliana Chow and Senior Public Prosecutor Marcus Lee, assisted by ICAC officer Bonnie Mak.