Hong Kong housewife swindles finance firms out of US$4 million by using forged documents to mortgage homes owned by in-laws, ex-clients
- Mary Wong, 44, took out 14 mortgages on four properties owned by mother-in-law, brother-in-law, sister-in-law and four former insurance clients
- Case first came to light in July 2014 after some of the victims were notified about the loans or received demand letters for repayment, High Court told
A Hong Kong housewife on Thursday admitted swindling more than HK$32 million (US$4.1 million) from financial institutions and lenders by using forged legal documents to mortgage properties owned by her in-laws and former clients.
Mary Wong, 44, took out 14 mortgages on four properties owned by her mother-in-law, brother-in-law, sister-in-law and four former insurance clients without their authorisation between December 2013 and April 2015.
Only one of the loans, HK$1.6 million out of HK$32.39 million, has been fully repaid, while more than HK$13.85 million remains outstanding.
The High Court heard the case first came to light in July 2014 after some of the victims were notified about the loans or had received demand letters for repayment, and reported the case.
Wong was arrested on October 30, 2014 and released on police bail on the same day.
But that did not stop her from taking out further loans on those properties to cover her expenses and settle debts.