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  1. News - Hong Kong

    Former headmaster jailed for housing allowance fraud

    Posted Oct 23rd 2012, 12:00am by Thomas Chan

    ... Thomas Chan thomas.chan@scmp.com Former headmaster sentenced for fraud A former secondary school headmaster was given a six-month jail term yesterday after being found guilty of defrauding ... by providing false information. Au was released on bail pending an appeal. The magistrate said he had imposed a jail sentence because Au, who had pleaded not guilty to one count of fraud, "felt ...

    http://www.scmp.com/news/hong-kong/article/1067436/former-headmaster-jailed-housing-allowance-fraud
  2. Business - Banking & Finance - SETTLEMENTS

    JP Morgan to pay US$614m in mortgage fraud case

    Posted Feb 05th 2014, 01:29pm by Reuters

    ... Reuters in Washington JP Morgan reaches deal over mortgage fraud case JP Morgan Chase settled the latest in a string of legal claims on Tuesday when it agreed to pay US$614 million ... settlements, while the justice department is seeking US$2.1 billion in penalties from Bank of America after a jury found the bank liable for fraud over mortgages sold by its Countrywide unit. Last ...

    http://www.scmp.com/business/banking-finance/article/1421368/jp-morgan-pay-us614m-mortgage-fraud-case
  3. News - Hong Kong - COURTS

    District councillor gets deferred jail term over mortgage fraud

    Posted Dec 07th 2013, 03:52am by JULIE CHU

    ... granted him the mortgages. The judge also said the case was different from other fraud cases because the bank ultimately retained ownership of the properties. "I accepted Lam was too confused ... Julie Chu julie.chu@scmp.com Judge says Hang Seng Bank 'recklessly' granted home loans obtained with false documents Councillor gets deferred jail term over bank fraud A district ...

    http://www.scmp.com/news/hong-kong/article/1374793/district-councillor-gets-deferred-jail-term-over-mortgage-fraud
  4. Business - Banking & Finance

    Wells Fargo fails to end US mortgage fraud lawsuit

    Posted Sep 25th 2013, 10:30am by Reuters

    ... mortgage lender of fraud, a victory for federal investigators pursuing cases tied to the recent housing and financial crises. US District Judge Jesse Furman in Manhattan said on Tuesday ... a favourite tool to address alleged mortgage fraud because of its 10-year statute of limitations, twice the length than allowed under other federal securities laws. The lawsuit against Wells Fargo ...

    http://www.scmp.com/business/banking-finance/article/1317378/wells-fargo-fails-end-us-mortgage-fraud-lawsuit
  5. Business - Banking & Finance

    US accuses Bank of America of mortgage-backed securities fraud

    Posted Aug 07th 2013, 12:40pm by Reuters

    ... securities. In 2011, the bank’s shares fell more than 20 per cent in a single day after American International Group filed a US$10 billion lawsuit accusing the bank of mortgage fraud. Weeks later, ... to take an aggressive approach to combatting financial fraud and uncovering abuses in the residential mortgage-backed securities market,” and is pursuing “a range of additional investigations.” ...

    http://www.scmp.com/business/banking-finance/article/1294929/us-accuses-bank-america-mortgage-backed-securities-fraud
  6. Business - Banking & Finance - COURTS

    Another ex-Rabobank trader pleads guilty to Libor rigging

    Posted Aug 20th 2014, 01:34am by Reuters

    ... of Justice said. The scope of the fraud was massive, but the scheme was simple LESLIE CALDWELL, JUSTICE DEPARTMENT Robson entered his plea before US District Judge Jed Rakoff in Manhattan to one ... of the fraud was massive, but the scheme was simple. By illegally influencing the Libor rates, Robson and his co-conspirators rigged the markets to ensure their trades made money," said Leslie ...

    http://www.scmp.com/business/banking-finance/article/1577197/another-ex-rabobank-trader-pleads-guilty-libor-rigging
  7. Property - International - SOUTH KOREA

    South Korea's homebuyers buoyed by eased mortgage curbs

    Posted Aug 27th 2014, 05:34am by BLOOM

    ... Bloomberg in Seoul Newly appointed finance ministerwants to revive the country's stagnant property market Homebuyers buoyed by eased mortgage curbs After moving six times in 10 years, chemical researcher Choi Youn-ho is hopeful easier mortgage rules will finally allow him to buy a home on the outskirts of Seoul for his family of four. "I'm sick and tired of finding ...

    http://www.scmp.com/property/international/article/1580843/south-koreas-homebuyers-buoyed-eased-mortgage-curbs
  8. Property - Hong Kong & China - MORTGAGES

    More homebuyers opting for cheaper Hibor-based mortgage loans

    Posted Aug 26th 2014, 09:51am by Sandy Li

    ... Sandy Li sandy.li@scmp.com Homebuyers shun banks' standard mortgage offerings in favour of the lower interest on products set in line with the local money market rate Cheaper ... of mortgage applicants opting for loans priced with reference to Hibor- the wholesale money market on which banks raise their funding- rose from 42 per cent in January to 77 per cent in June, Hong ...

    http://www.scmp.com/property/hong-kong-china/article/1580731/more-homebuyers-opting-cheaper-hibor-based-mortgage-loans
  9. Four arrested over mortgage fraud

    Posted Jul 12th 2006, 12:00am by Agnes Lam, Clifford Lo

    ... for conspiracy to defraud in an operation against a mortgage fraud syndicate alleged to have cheated a bank out of $11 million in two separate mortgage applications. The arrests were made on Monday ... across the city and seized fake identity cards and papers including conveyancing documents. Mr Tsang said that to prevent similar mortgage fraud, banks should do more checking and that people ...

    http://www.scmp.com/article/556292/four-arrested-over-mortgage-fraud
  10. News - World - BANKING

    Bank of America to pay US$16 billion over flawed security mortgages

    Posted Aug 22nd 2014, 01:26am by GDN

    ... The Guardian in New York Bank of America to pay a record fine of US$17b Bank of America has agreed to pay a record US$16.65 billion to settle charges it sold flawed mortgage securities ... the mortgage-related conduct of major US banks ahead of the crisis. In July, Citigroup paid US$7 billion to settle its case and last November JPMorgan Chase agreed to pay US$13 billion to end an investigation ...

    http://www.scmp.com/news/world/article/1578802/bank-america-pay-us16-billion-over-flawed-security-mortgages

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