Man admits loan papers were faked

An insurance company manager yesterday admitted providing false information to a bank in applications for loans involving more than $650,000.

Lam Yat-wah, 41, claimed he was working for another company when applying for the loans from HSBC, the District Court heard.

He offered false employment letters to back his applications, prosecutor David Leung Cheuk-yin said.

Lam, a manager of Canadian Eastern Life Assurance, pleaded guilty to 13 charges of furnishing false information between July 1996 and June 1997.

The prosecution said Lam made similar applications in his wife's name and helped three friends to do likewise.

The bank had granted a sum of $651,000 in loans, the court heard.