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The District Court today (December 8) sentenced a 37-year-old solicitor to six years' jail for conspiracy to defraud and conspiracy to deal with property known or believed to represent proceeds of indictable offence.
The Court heard that the defendant was the proprietor of a law firm. Between February and May in 2006, the defendant presented some forged documents including, forged Hong Kong identity card, false income proof and forged title deeds to a local bank on behalf of his syndicate members who impersonated as a genuine property owners and applied for two fraudulent mortgages.
The loan proceeds were then transferred to a bank account of a local company. On the instruction of the defendant, the syndicate member subsequently withdrew the cash in cash. The local bank had lost HK$11 million in these fraudulent mortgage transactions.
The case came to light when one of the genuine property owners had received letter of the local bank regarding the approved mortgage. In fact, the property owner has never applied for loan mortgage.
In a pre-planned operation on July 2006, the defendant was arrested in his law firm with forged HKID and false income proof seized.
The defendant was convicted of the charges and sentence was handed out today (December 8).
Police Report No.10
Ends/Tuesday, December 8, 2009
Issued at HKT 23:57
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