Then Police Constable charged by ICAC over Credit Union loan fraud by concealing $500,000 debts
2024-11-27
A then Police Constable was charged by the ICAC today (November 27) for allegedly deceiving the Hong Kong Police Credit Union (HKPCU) into granting him a loan of over $57,000 by concealing his other loans totalling over $500,000 obtained from six financial institutions.
Ma Wai-cheong, 47, then Police Constable, faces one count of fraud, contrary to section 16A(1) of the Theft Ordinance. He was released on ICAC bail, pending his appearance at the West Kowloon Magistrates’ Courts on Friday (November 29) for plea.
The ICAC investigation arose from a corruption complaint referred by the Police. The above fraudulent act was revealed during the corruption probe.
HKPCU provides loan service to its members. In July 2019, the defendant applied for a personal loan with the HKPCU. He declared on the application form that he had not obtained any loan from other banks or financial institutions.
It is alleged that the defendant falsely represented to the HKPCU that the content and information contained in the application form was complete and accurate, and with intent to defraud, induced the HKPCU to grant him a loan of over $57,000.
ICAC enquires revealed that when the loan application with the HKPCU was made, the defendant had obtained loans totalling over $500,000 from six financial institutions and that he was required to make repayments of over $24,000 each month.
The Police and HKPCU had rendered full assistance to the ICAC during its investigation into the case.
Ma Wai-cheong, 47, then Police Constable, faces one count of fraud, contrary to section 16A(1) of the Theft Ordinance. He was released on ICAC bail, pending his appearance at the West Kowloon Magistrates’ Courts on Friday (November 29) for plea.
The ICAC investigation arose from a corruption complaint referred by the Police. The above fraudulent act was revealed during the corruption probe.
HKPCU provides loan service to its members. In July 2019, the defendant applied for a personal loan with the HKPCU. He declared on the application form that he had not obtained any loan from other banks or financial institutions.
It is alleged that the defendant falsely represented to the HKPCU that the content and information contained in the application form was complete and accurate, and with intent to defraud, induced the HKPCU to grant him a loan of over $57,000.
ICAC enquires revealed that when the loan application with the HKPCU was made, the defendant had obtained loans totalling over $500,000 from six financial institutions and that he was required to make repayments of over $24,000 each month.
The Police and HKPCU had rendered full assistance to the ICAC during its investigation into the case.