A woman was yesterday accused of fraudulently obtaining a HK$3.15 million mortgage for a property she sold to herself at an inflated price. The District Court heard that Cheung Sau-king, 53, bought a shop in Bonham Road for HK$2.7 million in March 2000 through a company she owned, and sold it to herself the same month for HK$5.2 million. The transaction was carried out through a transfer of shares in the company, Golden Treasure Investment, from purported owner Ho Chau to Cheung, said prosecuting barrister Peter Ip Tak-keung. Cheung, 53, had obtained a mortgage of HK$3.1 million from Allied Capital Resources (now Allied Bank). It was later discovered that Mr Ho had done some work for Cheung, but did not own shares in the company. Cheung pleaded not guilty to a charge of fraud before Deputy Judge Andrew Chan Hing-wai. Mr Ip said Cheung had stopped paying the mortgage installments in August 2002 and an investigation had later revealed that she had been the vendor of the property in the March transaction. The court was told that Mr Ho did not sign the agreement to transfer the shares of Golden Treasure in March 2000, and the document was therefore false. Cheung was arrested by the Independent Commission Against Corruption in August 2003. The hearing continues today before Judge Chan.