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  1. Villa Pinada boss cleared of fraud

    Posted Aug 18th 2005, 12:00am by Jonathan Li

    ... Jonathan Li Prosecution failed to prove developer and four others were guilty of $12.3m mortgage scams, says judge The developer of a luxurious residential project in Tuen Mun has been acquitted of mortgage frauds worth $12.32 million. District Court Judge Esther Toh Lye-ping said yesterday that the prosecution had failed to prove 49-year-old Tai Chi-wah, the developer ...

    http://www.scmp.com/article/512577/villa-pinada-boss-cleared-fraud
  2. Judge slams shower-cap ID parades

    Posted Jul 21st 2005, 12:00am by Jonathan Li

    ... Court yesterday for orchestrating mortgage frauds involving properties worth $38 million, was allowed to wear the disguises in two ID parades. The 'actors' recruited by police to line ... a fair identification parade. Under mortgage schemes prevalent in 2002 and 2003, homebuyers with as little as a $10,000 down-payment were routinely granted a first mortgage covering 70 per cent ...

    http://www.scmp.com/article/509029/judge-slams-shower-cap-id-parades
  3. Mortgage scam reaped rebates of more than $800,000, court told

    Posted Jun 22nd 2005, 12:00am by Jonathan Li

    ... Jonathan Li The mastermind of a mortgage scam swindled banks and developers out of more than $800,000 in rebates involving property worth $38 million, the District Court heard yesterday. ... to information given to police. Prosecutor Juliana Chow told the court Chan and his co-conspirators provided the banks with falsified financial information when applying for mortgages. The banks included ...

    http://www.scmp.com/article/505454/mortgage-scam-reaped-rebates-more-800000-court-told
  4. Another huge fraud rocks Bank of China

    Posted Apr 03rd 2005, 12:00am by Staff Reporter

    ... left idle since then. The fraud appears to have been an attempt by the developer to raise money to pay for the construction of the project. Mr Wang said the bank had granted mortgage loans ... the bank. 'It's a huge mortgage fraud case- one of the biggest in recent years,' said Li Xiaofeng. 'It would not have been possible to pull it off without some inside help.' ...

    http://www.scmp.com/article/495269/another-huge-fraud-rocks-bank-china
  5. Scam exposed as lending is tightened

    Posted Apr 03rd 2005, 12:00am by Staff Reporter

    ... by two lawyers- real-estate company Beijing Huayunda pulled off one of the biggest mortgage-loan frauds on the mainland. Mainland bank officials and regulators have repeatedly vowed to tighten ... Shi Ting Fearing a property bubble, mainland regulators have curbed banks' mortgage business The latest Bank of China loan scandal has come to light at a time when the central ...

    http://www.scmp.com/article/495252/scam-exposed-lending-tightened
  6. 'London gold' scam takes new forms

    Posted Jun 08th 2005, 12:00am by Elaine Wu

    ... Elaine Wu The 'London gold' scam has been finding fewer takers in recent years, but police have warned summer jobseekers that the notorious fraud is evolving to take different forms. Under the traditional fraud, a front company hires an unskilled worker on high wages. The victim is asked whether he or she would like to make big profits by joining the bosses ...

    http://www.scmp.com/article/503565/london-gold-scam-takes-new-forms
  7. Judge upholds 3 convictions against former star policeman

    Posted Sep 22nd 2005, 12:00am by Jonathan Li

    ... Jonathan Li Police superintendent Philip Cheng Po-yan will take his case to the Court of Final Appeal after a judge upheld three of his six convictions for attempted fraud and deception. ... of attempted fraud. She also quashed the convictions of Cheng's daughter, Cheng Ka-kiu, 26, on charges of giving false information about her employment status in loan applications. Cheng, 48, who ...

    http://www.scmp.com/article/517194/judge-upholds-3-convictions-against-former-star-policeman
  8. UK agents found to inflate rental quotes

    Posted Dec 07th 2005, 12:00am by Richard Warren

    ... Richard Warren in London British letting agents overstate rent valuations by up to 25 per cent, a survey reveals. Landlord Mortgages, Britain's biggest specialist buy-to-let loans ... could be rented for. The most excessive claims were made in London, where rents quoted to landlords were 25 per cent higher than those quoted to tenants, the mortgage lender reported. Letting ...

    http://www.scmp.com/node/528132
  9. City Briefs

    Posted Aug 25th 2005, 12:00am by Staff Reporter

    ... Fraud suspect says he gave rebates to syndicate A worker who admitted to swindling $646,000 in cash rebates from a bank for selling a property worth $2.1 million claimed he gave all but $20,000 to a syndicate. Wong Kin-man, 41, pleaded guilty yesterday to one count of conspiracy to fraud and one count of obtaining pecuniary advantage by deception between February and May 2003. ...

    http://www.scmp.com/article/513420/city-briefs
  10. Fixed-rate second mortgages on the table

    Posted Jun 01st 2005, 12:00am by Leland Sun

    ... mortgages in the market. This has nothing to do with the Hong Kong Monetary Authority relaxing its guidelines and permitting banks to offer top-up second mortgages over the 70 per cent loan-to-value limit. Second mortgages have been a useful financing product available from most property developers to entice potential buyers of their flats. Now, second mortgages are being offered ...

    http://www.scmp.com/article/502675/fixed-rate-second-mortgages-table

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