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Police today (September 27) laid charges against five persons with conspiracy to defraud and 29 persons with fraud. The defendants will appear before Eastern Magistrates' Courts on October 8 and 10 respectively.
Police Commercial Crime Bureau (CCB) received a referral from Student Financial Assistance Agency (SFAA) in September 2010, alleging some applications for non-means-tested loans by using false documents were found. The loans, ranged from $34,800 to $69,600, accounted for a total amount over $3 million.
Since October 2010, officers of CCB have arrested 53 men and 18 women, aged 19 to 56, for conspiring with the intermediaries of educational institutions to apply for loans from SFAA by false documents.
Among the arrestees, twenty-eight men and six women, aged 19 to 51, were charged. The others had been released unconditionally.
Police Report No. 316
Issued by PPRB
Ends/Thursday, September 27, 2012
Issued at HKT 22:43
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