Hong Kong Police Superintendent Convicted of HK$26 Million Mortgage Fraud

Superintendent Harbour Chan Hoi-kong, a senior Hong Kong police officer, has been found guilty of fraudulently obtaining mortgages worth over HK$26 million (US$3.32 million) by concealing his affiliation with the police force. Chan had claimed to be working in the private sector and earning between HK$115,000 and HK$246,500 per month, when in reality, he was making around HK$150,000 per month as a police officer.

Chan's co-defendant, businessman and former chief inspector Wong Ho-ngai, was also found guilty of one of the charges related to Chan's mortgage application with the Bank of East Asia. The court found that Chan was not a 'widely known public person' in terms of his identity as a police officer, despite his online presence and published works.

The pair conspired to conceal Chan's police identity while applying for the loans, falsely claiming that Chan was employed by a private company. Chan applied for mortgage refinancing at the Bank of East Asia and a mortgage from OCBC Wing Hang Bank, misrepresenting himself as the General Manager of Commander Capital Company Limited and providing false employment verification documents. The funds were used to settle Chan's existing debts.

Why this matters: This case highlights the importance of integrity and honesty, especially among high-ranking public officials. It emphasizes the need for thorough background checks and verification processes in the banking industry to prevent fraud and maintain public trust.

Chan was arrested in May 2021 after an investigation revealed his actual stake in the company and that the claimed salary was his quarterly dividend. Chan claimed he was unaware of the specifics and had instructed Wong not to list his bonuses as 'salary', but the court found both men guilty of fraud. The pair have been remanded in custody until their sentencing on May 17, and face a maximum sentence of 14 years in prison, though capped at seven years for a district court trial.

Key Takeaways

• Senior Hong Kong police officer found guilty of fraudulently obtaining HK$26M in mortgages.
• Concealed his police identity, falsely claiming to work in private sector with high salary.
• Co-defendant, a businessman, also found guilty of charges related to mortgage application.
• Case highlights importance of integrity and thorough verification in banking industry.
• Pair face up to 14 years in prison, though capped at 7 years for district court trial.