Woman admits HK$10m mortgage loans fraud
2019-3-18
A woman, charged by the ICAC, admitted at the District Court today (March 18) that she had defrauded a bank of two mortgage loans totalling HK$10 million by using false income proofs.
Tsoi Kam-hung, 30, pleaded guilty to two charges of fraud, contrary to Section 16A of the Theft Ordinance, while the prosecution offered no evidence to a similar charge against her husband.
Judge Josiah Lam Wai-kuen adjourned the case to April 12 for sentence, pending a background report. Tsoi was granted bail.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above offences.
The court heard that at the material time, Tsoi was a property officer of MTR Corporation Limited earning a monthly salary of about HK$18,000.
In April 2015, Tsoi purchased a property in Tseung Kwan O at a consideration of over HK$9.4 million.
Two months later, Tsoi applied to a sub-branch of Bank of Communications Company Limited Hong Kong Branch (BOCMHK) for a mortgage loan.
In support of her application, Tsoi submitted to BOCMHK her income proofs, namely a copy of an employment letter issued by a company which showed that she had been employed as a manager with a monthly salary of 48,000 Renminbi; and a copy of the record of another bank showing three deposits of 48,000 Renminbi each in April, May and June 2015 respectively.
Believing that the documents provided by Tsoi were true and accurate, BOCMHK approved the application and granted her the loan of HK$5 million in July 2015.
The court heard that in June 2016, Tsoi and her husband jointly purchased a property in Ma On Shan at a consideration of over HK$12 million.
Later, Tsoi and her husband went to the sub-branch of BOCMHK to apply for a mortgage loan, with her husband as the borrower.
To support the application, Tsoi submitted to BOCMHK the income proofs of her husband, including a copy of an employment letter issued by the above company which showed that her husband had been employed as a manager with a monthly salary of HK$61,500, and records of BOCMHK showing three purported salary payments by that company to her husband in June, July and August 2016 respectively.
Believing that the documents provided by Tsoi and her husband were true and accurate, BOCMHK approved the application and granted her husband the loan of HK$5 million in August 2016.
BOCMHK had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by Senior Public Prosecutor Clara Ma, assisted by ICAC officer Joe Ng.
Tsoi Kam-hung, 30, pleaded guilty to two charges of fraud, contrary to Section 16A of the Theft Ordinance, while the prosecution offered no evidence to a similar charge against her husband.
Judge Josiah Lam Wai-kuen adjourned the case to April 12 for sentence, pending a background report. Tsoi was granted bail.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above offences.
The court heard that at the material time, Tsoi was a property officer of MTR Corporation Limited earning a monthly salary of about HK$18,000.
In April 2015, Tsoi purchased a property in Tseung Kwan O at a consideration of over HK$9.4 million.
Two months later, Tsoi applied to a sub-branch of Bank of Communications Company Limited Hong Kong Branch (BOCMHK) for a mortgage loan.
In support of her application, Tsoi submitted to BOCMHK her income proofs, namely a copy of an employment letter issued by a company which showed that she had been employed as a manager with a monthly salary of 48,000 Renminbi; and a copy of the record of another bank showing three deposits of 48,000 Renminbi each in April, May and June 2015 respectively.
Believing that the documents provided by Tsoi were true and accurate, BOCMHK approved the application and granted her the loan of HK$5 million in July 2015.
The court heard that in June 2016, Tsoi and her husband jointly purchased a property in Ma On Shan at a consideration of over HK$12 million.
Later, Tsoi and her husband went to the sub-branch of BOCMHK to apply for a mortgage loan, with her husband as the borrower.
To support the application, Tsoi submitted to BOCMHK the income proofs of her husband, including a copy of an employment letter issued by the above company which showed that her husband had been employed as a manager with a monthly salary of HK$61,500, and records of BOCMHK showing three purported salary payments by that company to her husband in June, July and August 2016 respectively.
Believing that the documents provided by Tsoi and her husband were true and accurate, BOCMHK approved the application and granted her husband the loan of HK$5 million in August 2016.
BOCMHK had rendered full assistance to the ICAC during its investigation into the case.
The prosecution was today represented by Senior Public Prosecutor Clara Ma, assisted by ICAC officer Joe Ng.