Ex-district manager of insurance company admits attempted $1.4m special advance fraud
2018-7-9
A former district manager of an insurance company, who was charged by the ICAC, admitted in the Eastern Magistracy today (July 9) that he had attempted to induce the company to offer him over $1.4 million as special advance by using false income proofs.
Man Kin-shing, 42, former district manager of AXA China Region Insurance Company Limited (AXA), pleaded guilty to a charge of attempted fraud, contrary to Section 16A of the Theft Ordinance and Section 159G of the Crimes Ordinance.
Principal Magistrate Mr Peter Law Tak-chuen adjourned the case to July 30 for sentence, pending background and community service order reports, and granted the defendant cash bail of $10,000.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above offence.
The court heard that at the material time, the defendant applied for a job with AXA through its experienced hire programme, which included an offer of an incentive, namely special advance, calculated on the total income received by him from his previous employer in the past two years.
In the belief that the income proofs of the defendant were genuine, AXA recruited the defendant as district manager in May 2016 and offered him a special advance of over $1.4 million.
Before releasing the special advance to the defendant, AXA discovered irregularities in his income proofs and suspected that the amounts might have been inflated.
The court heard that the previous employer of the defendant confirmed his annual income for the financial years ended in March 2014 and March 2015 was at over $1.2 million and over $860,000 respectively.
ICAC enquiries revealed that the amounts in the income proofs for the two financial years submitted by the defendant to AXA were each inflated by $1 million.
In August 2016, AXA terminated the employment contract of the defendant and stop paying him the special advance of over $1.4 million.
AXA had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by ICAC officer Eastman Tang.
Man Kin-shing, 42, former district manager of AXA China Region Insurance Company Limited (AXA), pleaded guilty to a charge of attempted fraud, contrary to Section 16A of the Theft Ordinance and Section 159G of the Crimes Ordinance.
Principal Magistrate Mr Peter Law Tak-chuen adjourned the case to July 30 for sentence, pending background and community service order reports, and granted the defendant cash bail of $10,000.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above offence.
The court heard that at the material time, the defendant applied for a job with AXA through its experienced hire programme, which included an offer of an incentive, namely special advance, calculated on the total income received by him from his previous employer in the past two years.
In the belief that the income proofs of the defendant were genuine, AXA recruited the defendant as district manager in May 2016 and offered him a special advance of over $1.4 million.
Before releasing the special advance to the defendant, AXA discovered irregularities in his income proofs and suspected that the amounts might have been inflated.
The court heard that the previous employer of the defendant confirmed his annual income for the financial years ended in March 2014 and March 2015 was at over $1.2 million and over $860,000 respectively.
ICAC enquiries revealed that the amounts in the income proofs for the two financial years submitted by the defendant to AXA were each inflated by $1 million.
In August 2016, AXA terminated the employment contract of the defendant and stop paying him the special advance of over $1.4 million.
AXA had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by ICAC officer Eastman Tang.