The 2 are stated to have defrauded seven banks of loans and banking amenities worth about HK$160mn, and deceived the TID and HKMC into issuing loan ensures.
Hong Kong’s ICAC (Unbiased Fee Towards Corruption) has charged a director and clerk of an SME for defrauding seven banks of 99 loans totalling over HKD 124 million and banking amenities totalling HKD 34.5 million.
The 2 people are additionally stated to have deceived a authorities division and a public physique into performing as guarantors for loans and amenities totalling HKD 8.four million granted by the banks.
Desmond Chan Chi-hung, sole director and shareholder of now-defunct Mondex Worldwide Industries, and Pun Ching-man, a clerk answerable for the corporate’s administration, collectively face 19 counts of conspiracy to defraud, the ICAC stated.
Eight prices relate to an alleged conspiracy to defraud BOCHK, Citibank HK, Dah Sing Bank, DBSHK, HSBC and ICBC Asia with false supporting paperwork in purposes for banking amenities. The banks granted amenities worth over HKD 34.5 million to Mondex.
Six prices relate to an alleged conspiracy to defraud BOCHK, Citibank HK, Dah Sing Bank, DBSHK, HSBC and Wing Lung Bank with paperwork supporting false transactions with six Mondex suppliers. The banks granted 99 loans worth over HKD 124 million to Mondex, the place the loan quantities had been launched on to the suppliers.
Three prices relate to an alleged conspiracy to defraud the HKMC (Hong Kong Mortgage Company) with false data in purposes for the SFGS (SME Financing Assure Scheme). The HKMC issued three ensures for numerous sorts of amenities totalling HKD 6.four million for Mondex.
Two prices relate to an alleged conspiracy to defraud the TID (Commerce and Business Division) with falsely data in utility kinds for working capital loan ensures below the SGS (SME Financing Assure Scheme). The TID issued two ensures for time period loans worth HKD 2 million for Mondex.
The Jap Magistrates’ Courts on Friday (Could 29) transferred the case to District Court docket for plea.
The ICAC’s assertion is obtainable right here.
In an identical case involving one other SME often known as Southern Flash Enterprises, a director was not too long ago sentenced to 44 months’ imprisonment for her position in defrauding 5 banks, the TID and HKMC.
BOCHK, Citibank HK, Dah Sing Bank., DBSHK, fraud, HKMC, HSBC, ICBC, loan assure, Mondex, TID, Wing Lung Bank