Retired C&E Inspector and wife charged by ICAC over $1.5m housing allowance fraud
2024-11-22
A retired Inspector of the Customs and Excise Department (C&E) and his wife were charged by the ICAC yesterday (November 21) for allegedly concealing their non-compliance of the relevant live-in requirement under the Home Financing Scheme (HFS) for civil servants to deceive the government into granting them housing allowance totalling over $1.5 million.
Terrance Lau Bun, 56, retired Inspector of the C&E; and his wife Liu Ching, 51, accountant, jointly face one count of fraud, contrary to section 16A of the Theft Ordinance. The couple was released on ICAC bail, pending their appearance at the Eastern Magistrates’ Courts next Monday (November 25) for plea.
According to the government regulations, an eligible civil servant purchasing a residential property can apply for Home Financing Allowance and Downpayment Loan at a concessionary interest rate under the HFS. The applicant is required to live in the property as stated in the application, while letting or subletting of the property is prohibited.
In April 2012, Lau, who served as C&E Inspector, and his wife, Liu, submitted an application form to the Treasury under the HFS for their property in Yau Ma Tei. The application was later approved with a downpayment loan of $1.21 million and a monthly allowance of approximately $16,000 granted.
It is alleged that between July 2014 and July 2022, the couple concealed from the Treasury that they had moved out of the property, with an intent to defraud, induced the Treasury to continue to grant allowance totalling over $1.5 million to Lau, and allow Lau to make loan repayment with a concessionary interest rate.
The ICAC investigation arose from a corruption complaint referred by the C&E. Enquiries revealed that Lau and his wife did not fulfil the relevant live-in requirement of the HFS, and the property was leased to different tenants for profit at the material time.
The Treasury and the C&E had rendered full assistance to the ICAC during its investigation into the case.
Terrance Lau Bun, 56, retired Inspector of the C&E; and his wife Liu Ching, 51, accountant, jointly face one count of fraud, contrary to section 16A of the Theft Ordinance. The couple was released on ICAC bail, pending their appearance at the Eastern Magistrates’ Courts next Monday (November 25) for plea.
According to the government regulations, an eligible civil servant purchasing a residential property can apply for Home Financing Allowance and Downpayment Loan at a concessionary interest rate under the HFS. The applicant is required to live in the property as stated in the application, while letting or subletting of the property is prohibited.
In April 2012, Lau, who served as C&E Inspector, and his wife, Liu, submitted an application form to the Treasury under the HFS for their property in Yau Ma Tei. The application was later approved with a downpayment loan of $1.21 million and a monthly allowance of approximately $16,000 granted.
It is alleged that between July 2014 and July 2022, the couple concealed from the Treasury that they had moved out of the property, with an intent to defraud, induced the Treasury to continue to grant allowance totalling over $1.5 million to Lau, and allow Lau to make loan repayment with a concessionary interest rate.
The ICAC investigation arose from a corruption complaint referred by the C&E. Enquiries revealed that Lau and his wife did not fulfil the relevant live-in requirement of the HFS, and the property was leased to different tenants for profit at the material time.
The Treasury and the C&E had rendered full assistance to the ICAC during its investigation into the case.