2023-07-10 12:53:00
The ICAC uncovered that a fireman defrauded a finance company by failing to fully disclose outstanding loans. (Photo from Hong Kong and Taiwan)
The ICAC stated that during the investigation of a corruption case, it was revealed that a firefighter failed to fully disclose the outstanding loan in order to defraud a finance company of granting him a loan of 300,000 yuan. The 27-year-old defendant, Li Liefeng, pleaded guilty to one charge of fraud in the Sha Tin Magistrates’ Court. The acting chief magistrate Zheng Jihang adjourned his sentencing until the 24th of this month, pending the request for the defendant’s community service order report. The defendant was remanded in custody of the Correctional Services Department.
The case revealed that the defendant applied for a loan of 400,000 yuan from Dazhong Finance at the end of April 2021, and declared that there were only two outstanding loans totaling more than 130,000 yuan. Volkswagen Finance then granted a loan of RMB 300,000 to the defendant. The ICAC received a complaint investigation and found that the defendant did not fully disclose the outstanding loans to Volkswagen Finance, including two outstanding loans approved by a bank and another finance company with a total of regarding 180,000 yuan.
The ICAC stated that the defendant not only falsely claimed to Dazhong Finance that the information on the loan application form was true and complete, but also falsely claimed that apart from the relevant declarations on the application form, there were no other outstanding loans. If Public Finance knew that the defendant had other outstanding loans, or that the information on the loan application form was not true and complete, it would not have granted him a loan of $300,000.
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