MPF intermediary convicted over false early withdrawal claims
HK01 · 6 SOURCESabout 3 hours ago5 MIN
Summary
A former MPF intermediary, Wong Kam-fai (黃錦輝), was convicted in the District Court on October 22 after trial over a scheme involving false applications for early withdrawal of Mandatory Provident Fund benefits. Prosecutors said he conspired with clients to tell Sun Life Trustee Company Limited that they planned to settle in mainland China and permanently leave Hong Kong, even though ICAC investigators found they had never done so and had no such intention. The case involved about HK$4.6 million in MPF money, while three clients had already pleaded guilty earlier. Acting Judge Warm So-ming adjourned the case to November 5 for mitigation and fixed sentencing for November 26, remanding Wong in custody.
Key Points
- Wong, 37, was a former FWD Life Insurance Company (Bermuda) Limited insurance agent and also worked as an MPF intermediary at the time of the offences.
- After trial, he was convicted of four counts of conspiracy to defraud and two counts of using false instruments, contrary to common law and section 73 of the Crimes Ordinance.
- The offences took place between July 2021 and November 2022, when clients were helped to open MPF accounts at Sun Life Trustee and transfer balances there before applying.
- False documents included statutory declarations appearing to have been signed before a lawyer, and employment contracts with a mainland employer that investigators said were untrue.
- ICAC said Wong charged clients from several thousand dollars to tens of thousands of dollars for handling the unlawful early-withdrawal applications, and has applied to confiscate his crime proceeds.
Why It Matters
The case underlines that the “permanent departure from Hong Kong” ground for early MPF withdrawal is subject to criminal enforcement if supported by false declarations or fabricated documents. It also serves as a warning to MPF scheme members and intermediaries that both applicants and facilitators can face prosecution, conviction and possible confiscation of illicit gains.