Former Hong Fuk Court committee member, wife bailed
On.cc · 1 SOURCESabout 3 hours ago5 MIN
Summary
A former member of the 12th management committee of the Incorporated Owners of Hong Fuk Court in Tai Po, Kong Cheung-fat (江祥發), and his wife Cheung Yeuk-lan (張若蘭) appeared at Sha Tin Magistrates’ Courts on September 1 over alleged fraud linked to the 100% Personal Guarantee Special Concessionary Loan Scheme. Prosecutors said the case had already been referred for legal advice and would be a District Court matter, so the defendants were not required to enter pleas at this first hearing. The court adjourned the case to October 6 to allow preparation of transfer documents, while both defendants were granted bail of HK$10,000 each subject to conditions. The charges concern two allegedly fraudulent loan applications totaling HK$331,300 and a money-laundering allegation over handling the same sum
Key Points
- The case was first mentioned at Sha Tin Magistrates’ Courts on September 1 before Acting Principal Magistrate Cheng Kei-hong, with no plea taken from either defendant
- Kong Cheung-fat, 65, and Cheung Yeuk-lan, 62, both reported as directors of an interior design engineering company, face two fraud charges and one money-laundering charge
- Prosecutors alleged that between February 8 and June 30, 2022, false information about the company’s sales decline was given to support loan applications
- The alleged deception was aimed at inducing HSBC and the Hong Kong Mortgage Corporation Insurance Limited to approve loans of HK$231,300 and HK$100,000
- A separate charge alleges that between April 4 and July 25, 2022, the pair handled HK$331,300 in a HSBC account, knowing or suspecting it represented crime proceeds
Why It Matters
The case centres on alleged abuse of a government-backed financing channel created to support small and medium-sized enterprises, making it relevant to public confidence in relief lending and oversight. For Hong Kong readers, the proceedings also show how alleged false statements in loan applications can lead not only to fraud charges but also to a separate allegation over handling the funds obtained