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A 46-year-old man was today (September 18) convicted of charges related to mortgage fraud and sentenced to three years and eight months' imprisonment at the District Court.
The court heard that between December 2005 and May 2006, the defendant, together with other people, fraudulently applied to a local bank via a law firm for mortgage loan of two residential flats located in North Point. The syndicate successfully applied for a loan of $11 million after submitting false title deeds and other false documents to the bank.
The case came to light when one of the genuine flat owners later found from bank letters that her flat had been mortgaged.
Investigation was taken over by the Police Commercial Crime Bureau and the defendant was subsequently arrested on June 4, 2012 when he returned to Hong Kong via Lo Wu Boundary Control Point.
He was then charged with two counts of conspiracy to defraud. He was convicted of the charges and the sentence was handed down at the District Court today.
Other four defendants, aged from 39 to 61, were arrested in connection with the same case have earlier been sentenced and jailed for 42 to 72 months respectively.
Police Report No. 258
Issued by PPRB
Ends/Tuesday, September 18, 2012
Issued at HKT 20:24
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