5 to appear in court over loan deception
Five people, including three property agents, will appear in court today on charges of deception involving loans obtained from the Housing Authority and a bank.
Yung Siu-ling, 35, and Yung Siu-wah, 36, both property agents; Danny Chung Man-fai, 21; Lam Kin-chun, 21; and Yu Ming-wai, 42 - allegedly submitted fake supporting documents and inflated the purchase prices of two properties.
Independent Commission Against Corruption officers arrested the five on Wednesday.
They will appear in North Kowloon Court to face a total of seven counts of conspiracy to defraud.
On the first charge, Yung Siu-ling faces one count of conspiring with others to defraud a bank by inflating the purchase price of a property in Apliu Street from $580,000 to $860,000.
He is alleged to have conspired to defraud by falsely stating information about his employment and salary in applying for a loan under the authority's home assistance loan scheme and a mortgage loan from a bank.
In the second set of charges, Yung Siu-ling, Yung Siu-wah and Chung face a joint charge of conspiring to defraud the bank into granting a $505,000 mortgage loan to Chung.
They allegedly provided false information in a loan application and inflated the purchase price of another property, also in Apliu Street, from $580,000 to $850,000.
Chung is also alleged to have conspired to defraud the Housing Authority by falsely stating the information about his employment and monthly income in his loan application.
Yu also faces two similar offences of conspiracy to defraud the authority and the bank by similar means. The alleged offences took place between February and December last year.
The ICAC said the five were arrested during an anti-graft operation in relation to a fraudulent scheme to obtain loans from the authority and a number of banks.
