Company director charged by ICAC for using fake identity to open bank accounts


A company director was charged by the ICAC yesterday (June 11) for allegedly obtaining services by deception by using a fake identity to open a number of bank accounts at two banks.

The ICAC investigation stemmed from a corruption complaint alleging manipulation of share prices of listed companies, leading to an operation jointly mounted by the ICAC and the Securities and Futures Commission in August last year. Subsequent ICAC investigation revealed the offences in the present case. The company director was charged by the ICAC yesterday after seeking legal advice from the Department of Justice. The original corruption investigation is continuing that the ICAC does not rule out further prosecution.

Fang Siyuan, 37, faces two counts of obtaining services by deception, contrary to section 18A(1) of the Theft Ordinance. He was released on ICAC bail, pending his appearance in the Eastern Magistrates’ Courts tomorrow (June 13) for mention. The prosecution will later apply to transfer the case to the District Court for plea.

In November 2020 and September 2021, the defendant respectively met with staff members of two banks for opening personal bank accounts.

The charges allege that the defendant dishonestly obtained services from the two banks by deception, namely opening eight personal bank accounts, including a securities account, by falsely representing that he was Fong Tim who was holding a Mexican passport.

In the account opening process, the defendant presented the passport to bank staff and signed to confirm that the information he provided was true and correct. The ICAC investigation revealed that the name and date of birth shown on the passport differed from the information shown on other identity documents of the defendant.

Had the two banks known that the defendant had identities bearing different names and dates of birth, they would not have approved his account opening applications.

The two banks concerned have rendered full assistance to the ICAC during its investigation into the case.
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