Six charged with MPF commissions fraud and false claims of accrued benefits
2018-7-10
A former sales manager of an insurance company and five members of two Mandatory Provident Fund (MPF) trustees have been charged by the ICAC with respectively defrauding about $21,000 in commissions by submitting MPF applications with false information, and making false statutory declarations to claim MPF accrued benefits totalling over $820,000.
Chan Wah, 40, former sales manager of ACE Life Insurance Company Limited (ACE), who was charged today (July 10) in one case, faces one count of fraud, contrary to Section 16A(1) of the Theft Ordinance. ACE was renamed as Chubb Life Insurance Company Limited (Chubb) in April 2016.
Five other defendants, who were charged yesterday (July 9) in five other cases, are Yau Siu-hung, 31, Poon Yau-sing, 59, Tsang Tak-sau, 29, Kwok Kam-fai, 48, all MPF scheme members of Bank Consortium Trust Company Limited (BCT); and Chan Chun-wing, 38, a MPF scheme member of HSBC Provident Fund Trustee (Hong Kong) Limited (HPFT). BCT and HPFT are two MPF trustees in Hong Kong.
They each face one count of making a false statutory declaration, contrary to section 36 of the Crimes Ordinance.
The cases arose from a corruption complaint alleging Chan Wah of having violated Section 9(3) of the Prevention of Bribery Ordinance by submitting some MPF applications with false information to ACE for deceiving sales commissions. Subsequent ICAC enquiries revealed the above alleged offences.
In the first case, Chan Wah was a sales manager of ACE and the up-line manager of an insurance agent. Chan could not engage in selling its MPF products as she was not a registered MPF intermediary, but the insurance agent possessed the qualification.
The charge alleges that between June 26, 2015 and February 2, 2016, Chan falsely represented to ACE and BCT that the insurance agent was the handling agent of 26 applications for a MPF product of BCT, and with intent to defraud, induced BCT to grant commissions and cash incentives to the insurance agent via ACE, which resulted in benefit to the insurance agent or prejudice to ACE and BCT.
ICAC enquiries revealed that BCT had released about $21,000 as commissions and cash incentives to the insurance agent, who returned $11,000 of it to Chan afterwards.
Chan has been released on ICAC bail, pending her appearance in the Eastern Magistracy on Thursday (July 12) for plea.
In the remaining five cases, Yau Siu-hung, Poon Yau-sing, Tsang Tak-sau, Kwok Kam-fai and Chan Chun-wing each face one count of making a false statutory declaration.
The charges allege that between July 3 and October 15, 2015, the defendants each knowingly and wilfully made a false statement in a “statutory declaration for claims for payment of accrued benefits on ground of permanent departure from Hong Kong” that he/she would depart from Hong Kong to reside elsewhere with no intention of returning for employment or to resettle in Hong Kong as a permanent resident whereas he/she had never intended to depart from Hong Kong permanently.
ICAC enquiries revealed that BCT had paid Yau, Poon, Tsang and Kwok MPF accrued benefits of over $580,000 in total, and HSBC Life (International) Limited, the administrator of HPFT, had paid Chan MPF accrued benefits of over $240,000 as a result of their false statutory declarations.
Yau, Poon, Tsang and Chan have been released on ICAC bail, pending their appearance in the West Kowloon Magistracy tomorrow (July 11) for plea, while Kwok has been bailed to appear in the Kowloon City Magistracy tomorrow for plea.
Chubb, BCT and HPFT have rendered full assistance to the ICAC during its investigation.
Chan Wah, 40, former sales manager of ACE Life Insurance Company Limited (ACE), who was charged today (July 10) in one case, faces one count of fraud, contrary to Section 16A(1) of the Theft Ordinance. ACE was renamed as Chubb Life Insurance Company Limited (Chubb) in April 2016.
Five other defendants, who were charged yesterday (July 9) in five other cases, are Yau Siu-hung, 31, Poon Yau-sing, 59, Tsang Tak-sau, 29, Kwok Kam-fai, 48, all MPF scheme members of Bank Consortium Trust Company Limited (BCT); and Chan Chun-wing, 38, a MPF scheme member of HSBC Provident Fund Trustee (Hong Kong) Limited (HPFT). BCT and HPFT are two MPF trustees in Hong Kong.
They each face one count of making a false statutory declaration, contrary to section 36 of the Crimes Ordinance.
The cases arose from a corruption complaint alleging Chan Wah of having violated Section 9(3) of the Prevention of Bribery Ordinance by submitting some MPF applications with false information to ACE for deceiving sales commissions. Subsequent ICAC enquiries revealed the above alleged offences.
In the first case, Chan Wah was a sales manager of ACE and the up-line manager of an insurance agent. Chan could not engage in selling its MPF products as she was not a registered MPF intermediary, but the insurance agent possessed the qualification.
The charge alleges that between June 26, 2015 and February 2, 2016, Chan falsely represented to ACE and BCT that the insurance agent was the handling agent of 26 applications for a MPF product of BCT, and with intent to defraud, induced BCT to grant commissions and cash incentives to the insurance agent via ACE, which resulted in benefit to the insurance agent or prejudice to ACE and BCT.
ICAC enquiries revealed that BCT had released about $21,000 as commissions and cash incentives to the insurance agent, who returned $11,000 of it to Chan afterwards.
Chan has been released on ICAC bail, pending her appearance in the Eastern Magistracy on Thursday (July 12) for plea.
In the remaining five cases, Yau Siu-hung, Poon Yau-sing, Tsang Tak-sau, Kwok Kam-fai and Chan Chun-wing each face one count of making a false statutory declaration.
The charges allege that between July 3 and October 15, 2015, the defendants each knowingly and wilfully made a false statement in a “statutory declaration for claims for payment of accrued benefits on ground of permanent departure from Hong Kong” that he/she would depart from Hong Kong to reside elsewhere with no intention of returning for employment or to resettle in Hong Kong as a permanent resident whereas he/she had never intended to depart from Hong Kong permanently.
ICAC enquiries revealed that BCT had paid Yau, Poon, Tsang and Kwok MPF accrued benefits of over $580,000 in total, and HSBC Life (International) Limited, the administrator of HPFT, had paid Chan MPF accrued benefits of over $240,000 as a result of their false statutory declarations.
Yau, Poon, Tsang and Chan have been released on ICAC bail, pending their appearance in the West Kowloon Magistracy tomorrow (July 11) for plea, while Kwok has been bailed to appear in the Kowloon City Magistracy tomorrow for plea.
Chubb, BCT and HPFT have rendered full assistance to the ICAC during its investigation.