Ex-insurance manager charged with $330,000 bonus fraud
2019-12-6
A former manager of an insurance company has been charged by the ICAC today (December 6) with deceiving the company into hiring two unqualified persons as down-line agents, and granting the manager a bonus of about $330,000.
Ann Kwong Sau-mei, 56, former insurance manager of ACE Life insurance Company Limited (ACE), faces two counts of fraud, contrary to Section 16A(1) of the Theft Ordinance. ACE was renamed as Chubb Life Insurance Company Limited (Chubb) in April 2016.
The defendant will appear at the Eastern Magistracy next Tuesday (December 10) for plea.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
The defendant joined ACE as an insurance manager in May 2014. Under her employment contract, she would be entitled to receiving a bonus of about $330,000 if she could maintain nine down-line agents as at the end of April 2016.
Should the defendant wish to employ a person as her down-line agent, she has to submit an application form stating the applicant’s working experience, together with relevant supporting documents to ACE.
The charges allege that on April 14 and 20, 2016, the defendant falsely represented to ACE that an applicant had worked at two companies and another applicant had all the work experiences as stated in his application form, and with intent to defraud, induced ACE to offer employment to them, which resulted in benefit to the defendant or in prejudice to ACE.
The defendant has been released on ICAC bail, pending her court appearance next Tuesday.
Chubb has rendered full assistance to the ICAC during its investigation.
Ann Kwong Sau-mei, 56, former insurance manager of ACE Life insurance Company Limited (ACE), faces two counts of fraud, contrary to Section 16A(1) of the Theft Ordinance. ACE was renamed as Chubb Life Insurance Company Limited (Chubb) in April 2016.
The defendant will appear at the Eastern Magistracy next Tuesday (December 10) for plea.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
The defendant joined ACE as an insurance manager in May 2014. Under her employment contract, she would be entitled to receiving a bonus of about $330,000 if she could maintain nine down-line agents as at the end of April 2016.
Should the defendant wish to employ a person as her down-line agent, she has to submit an application form stating the applicant’s working experience, together with relevant supporting documents to ACE.
The charges allege that on April 14 and 20, 2016, the defendant falsely represented to ACE that an applicant had worked at two companies and another applicant had all the work experiences as stated in his application form, and with intent to defraud, induced ACE to offer employment to them, which resulted in benefit to the defendant or in prejudice to ACE.
The defendant has been released on ICAC bail, pending her court appearance next Tuesday.
Chubb has rendered full assistance to the ICAC during its investigation.