Man jailed for mortgage fraud
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	A 40-year-old man was today (May 13) convicted of charges related to mortgage fraud and sentenced to 65 months' imprisonment at the District Court.

	The court heard that between February and June 2006, the defendant, together with other people, fraudulently applied to a local bank for mortgage loan of two residential flats located in North Point. The syndicate successfully applied for a loan of $11 million after submitting false title deeds and other false documents to the bank.

     The case came to light in June 2006 when one of the genuine flat owners found from bank letters that her flat had been mortgaged.

	Investigation was taken over by the Police Commercial Crime Bureau and the defendant was subsequently arrested on March 14, 2007 in Chai Wan. 

	He was then charged with aiding and abetting dealing with property known or believed to represent proceeds of indictable offence and conspiracy to defraud. He was convicted of the charges and the sentence was handed down at the District Court today.

	Another 35-year-old man and a 56-year-old woman arrested in connection with the same case have earlier been sentenced and jailed for 42 and 44 months respectively.  

Police Report No. 4
Issued by PPRB

Ends/Tuesday, May 13, 2008
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