Senior branch manager of insurance company and wife in court over commissions fraud
2018-7-25
A senior branch manager of an insurance company and his wife appeared in the Eastern Magistracy today (July 25) after being charged by the ICAC with defrauding the insurance company of extra commissions totalling over $12,000 by falsely representing that the wife was the handling agent of two insurance policies.
Alan Lo Wing-cheong, 53, senior branch manager of AXA China Region Insurance Company Limited (AXA), and his wife Cindy Au Kit-mui, 48, insurance agent of AXA, who were charged on Monday (July 23), faced two joint charges of fraud, contrary to Section 16A of the Theft Ordinance. Lo alone faced another charge of fraud.
No plea was taken today. Principal Magistrate Mr Peter Law Tak-chuen adjourned the case to September 19 for plea.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
At the material time, Lo was a senior branch manager of AXA, a licensed insurer in Hong Kong, with Au working as his down-line insurance agent.
The joint charges alleged that on January 14, and October 12, 2010, Lo and Au falsely represented to AXA respectively that Au was the handling agent for two insurance policy applications, and with intent to defraud, induced AXA to underwrite and issue the two policies and to pay commissions or other payments in relation to the policies, which resulted in benefit to Au or prejudice to AXA.
ICAC enquiries revealed that believing that the information in the above insurance policy applications was genuine, AXA had paid extra commissions of over $12,000 in total to Lo and Au.
The remaining charge alleged that on October 12, 2010, Lo falsely represented to a client of AXA that one of the above insurance policies was a five-year term insurance plan, and with intent to defraud, induced the client to take out the policy and to pay premiums for the insurance plan, which resulted in benefit to Lo and Au or prejudice to the client.
ICAC enquiries revealed that the insurance plan was in fact a 10-year term policy, and the client had paid a premium of around $96,000 yearly.
The defendants were each granted cash bail of $5,000, and ordered not to interfere with prosecution witnesses.
AXA had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by ICAC officer Dick Ngan.
Alan Lo Wing-cheong, 53, senior branch manager of AXA China Region Insurance Company Limited (AXA), and his wife Cindy Au Kit-mui, 48, insurance agent of AXA, who were charged on Monday (July 23), faced two joint charges of fraud, contrary to Section 16A of the Theft Ordinance. Lo alone faced another charge of fraud.
No plea was taken today. Principal Magistrate Mr Peter Law Tak-chuen adjourned the case to September 19 for plea.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
At the material time, Lo was a senior branch manager of AXA, a licensed insurer in Hong Kong, with Au working as his down-line insurance agent.
The joint charges alleged that on January 14, and October 12, 2010, Lo and Au falsely represented to AXA respectively that Au was the handling agent for two insurance policy applications, and with intent to defraud, induced AXA to underwrite and issue the two policies and to pay commissions or other payments in relation to the policies, which resulted in benefit to Au or prejudice to AXA.
ICAC enquiries revealed that believing that the information in the above insurance policy applications was genuine, AXA had paid extra commissions of over $12,000 in total to Lo and Au.
The remaining charge alleged that on October 12, 2010, Lo falsely represented to a client of AXA that one of the above insurance policies was a five-year term insurance plan, and with intent to defraud, induced the client to take out the policy and to pay premiums for the insurance plan, which resulted in benefit to Lo and Au or prejudice to the client.
ICAC enquiries revealed that the insurance plan was in fact a 10-year term policy, and the client had paid a premium of around $96,000 yearly.
The defendants were each granted cash bail of $5,000, and ordered not to interfere with prosecution witnesses.
AXA had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by ICAC officer Dick Ngan.