Couple charged with HK$10m mortgage loans fraud
2018-8-13
A couple has been charged by the ICAC today (August 13) with defrauding a bank of two mortgage loans totalling HK$10 million by using false income proofs.
Tsoi Kam-hung, 29, and her husband Yang Yuansong, 28, face a joint charge of fraud, contrary to Section 16A of the Theft Ordinance. Tsoi alone faces a similar charge.
The defendants will appear in the Eastern Magistracy on Wednesday (August 15) for transfer to the District Court for plea.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
At the material times, Tsoi and Yang were clients of Bank of Communications Company Limited Hong Kong Branch (BOCM Hong Kong Branch).
Tsoi applied to BOCM Hong Kong Branch for a mortgage loan of HK$5 million for a property that she bought in April 2015.
The charge against Tsoi alleges that in June 2015, she falsely represented to BOCM Hong Kong Branch that she was employed by a company as a manager with a monthly salary of 48,000 Renminbi, and with intent to defraud, induced the bank to grant her the mortgage loan of HK$5 million, which resulted in benefit to her or prejudice to the bank.
Tsoi and Yang applied to BOCM Hong Kong Branch for another mortgage loan of HK$5 million for a property that the couple purchased in May 2016.
The other charge against Tsoi and Yang alleges that in June 2016, the couple falsely represented to BOCM Hong Kong Branch that Yang was employed by the company as a manager with a monthly salary of HK$61,500, and with intent to defraud, induced the bank to grant Yang the mortgage loan of HK$5 million, which resulted in benefit to the couple or prejudice to the bank.
BOCM Hong Kong Branch has rendered full assistance to the ICAC during its investigation into the case.
The defendants have been released on ICAC bail, pending their court appearance on Wednesday.
Tsoi Kam-hung, 29, and her husband Yang Yuansong, 28, face a joint charge of fraud, contrary to Section 16A of the Theft Ordinance. Tsoi alone faces a similar charge.
The defendants will appear in the Eastern Magistracy on Wednesday (August 15) for transfer to the District Court for plea.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
At the material times, Tsoi and Yang were clients of Bank of Communications Company Limited Hong Kong Branch (BOCM Hong Kong Branch).
Tsoi applied to BOCM Hong Kong Branch for a mortgage loan of HK$5 million for a property that she bought in April 2015.
The charge against Tsoi alleges that in June 2015, she falsely represented to BOCM Hong Kong Branch that she was employed by a company as a manager with a monthly salary of 48,000 Renminbi, and with intent to defraud, induced the bank to grant her the mortgage loan of HK$5 million, which resulted in benefit to her or prejudice to the bank.
Tsoi and Yang applied to BOCM Hong Kong Branch for another mortgage loan of HK$5 million for a property that the couple purchased in May 2016.
The other charge against Tsoi and Yang alleges that in June 2016, the couple falsely represented to BOCM Hong Kong Branch that Yang was employed by the company as a manager with a monthly salary of HK$61,500, and with intent to defraud, induced the bank to grant Yang the mortgage loan of HK$5 million, which resulted in benefit to the couple or prejudice to the bank.
BOCM Hong Kong Branch has rendered full assistance to the ICAC during its investigation into the case.
The defendants have been released on ICAC bail, pending their court appearance on Wednesday.