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Results 1 - 10 of 1151 for mortgage fraud

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  1. Official with multiple home loans denies fraud

    Posted Mar 14th 2008, 12:00am by Staff Reporter

    ... September 2004 and January 2006. Prosecutor Flora Cheng told the judge that Au had dishonestly concealed his existing loans when he applied for the four mortgages. Ms Cheng said the first fraud ... Yvonne Tsui A chief immigration officer has denied fraudulently obtaining more than HK$6.5 million in mortgage loans from three banks. The District Court was told that Louis Au Chun-hung, ...

    http://www.scmp.com/article/629771/official-multiple-home-loans-denies-fraud
  2. Immigration officer cleared of fraud charges

    Posted Apr 24th 2008, 12:00am by Staff Reporter

    ... Yvonne Tsui A chief immigration officer walked free yesterday after a judge found him not guilty of concealing information about his debts in four mortgage applications with three banks. Louis Au Chun-hung, 54, had applied for HK$6.5 million in mortgage loans from HSBC, Bank of East Asia and Wing Lung Bank between September 2004 and January 2006. Deputy District Court Judge ...

    http://www.scmp.com/article/634912/immigration-officer-cleared-fraud-charges
  3. Regulator cracks whip on banks over credit fraud

    Posted Jun 06th 2008, 12:00am by Tom Miller

    ... Regulatory Commission has sent a notice to commercial lenders telling them to strengthen risk management and beware 'the three fakes'- fake mortgages, fake prices and fake payments- ... increasingly wary about the outlook elsewhere, the regulator fears that banks will bear the brunt of risks taken by irresponsible developers. A minority of developers have fabricated mortgage contracts ...

    http://www.scmp.com/article/640460/regulator-cracks-whip-banks-over-credit-fraud
  4. Woman, 74, jailed for welfare fraud

    Posted Mar 28th 2008, 12:00am by Paggie Leung

    ... guilty plea, age and restitution she has made. He ordered Lui, who earlier pleaded guilty to a count of fraud, to pay back the rest of the money by September 30. The court heard that Lui, who ... payments and used to buy a HK$180,000 flat in Yau Ma Tei with a loan from a finance company. Yesterday Mr Chan said the flat, which Lui sold last month for double the purchase price, was mortgaged ...

    http://www.scmp.com/article/631543/woman-74-jailed-welfare-fraud
  5. HK stocks knocked off rebound course by news of SocGen fraud

    Posted Jan 25th 2008, 12:00am by Nick Westra

    ... emergency funds in the wake of a US$7.1 billion fraud by one of its traders. Hong Kong's blue-chip index shed early gains after Societe Generale's announcement, plunging 1,487.3 points in just over an hour. The benchmark closed 550.9 points or 2.29 per cent lower at 23,539.27. The French bank said it would have to raise about US$8 billion to cover losses from the fraud ...

    http://www.scmp.com/article/624235/hk-stocks-knocked-rebound-course-news-socgen-fraud
  6. Rogue trader shows lessons not learned

    Posted Jan 26th 2008, 12:00am by Staff Reporter

    ... these institutions used faulty models that underestimated the risks of complex financial instruments based on those housing mortgages and assets. Frauds are often uncovered during times of financial distress ... deception. The fraud he allegedly perpetrated through unauthorised trades in European futures markets has cost his employer Euro4.9 billion (HK$56 billion), the largest in banking history. The case ...

    http://www.scmp.com/article/624371/rogue-trader-shows-lessons-not-learned
  7. 50 top managers guilty of HK$3b in deceit in past 5 years, ICAC says

    Posted Dec 09th 2008, 12:00am by Staff Reporter

    ... Joshua But Fifty people from the top management of locally listed companies have been convicted of dishonesty in the past five years, with the total amount of fraud and corruption topping ... Commission Against Corruption revealed that 18 cases concluded since 2004 involved HK$2.5 billion of fraud or scams on letters of credit. Another HK$200 million involved bribery or kickbacks, ...

    http://www.scmp.com/article/663136/50-top-managers-guilty-hk3b-deceit-past-5-years-icac-says
  8. In Brief

    Posted Oct 04th 2008, 12:00am by Staff Reporter

    ... cent. The highest base salaries were those in business development, procurement, marketing and account director roles. Tough economic times result in increased fraud cases Companies worldwide have lost an average of US$8.2million due to fraud over the past three years, according to a recent survey. The survey by risk consulting firm Kroll and the Economist Intelligence Unit of 890 ...

    http://www.scmp.com/article/654941/brief
  9. CSRC tightens rules

    Posted Aug 26th 2008, 12:00am by Staff Reporter

    ... on their holdings in US subprime-related securities. Many listed lenders have also invested in bonds issued or guaranteed by the two troubled US mortgage finance giants, Fannie Mae and Freddie Mac, raising ...

    http://www.scmp.com/article/650327/csrc-tightens-rules
  10. Purchasers resort to brokers for mortgages

    Posted Oct 04th 2008, 12:00am by Sandy Li

    ... continuing worries about falling property prices. Pan Asian Mortgage, which launched its mortgage brokerage services in July, and mReferral Mortgage Brokerage Services are two firms profiting from the global credit crisis as banks tighten lending. Frankie Wong, the chief operating officer at Pan Asian Mortgage, said the firm had seen a rise in new business recently as banks gave some customers ...

    http://www.scmp.com/article/654970/purchasers-resort-brokers-mortgages

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