Man jailed for deception and theft

A 52-year-old man was sentenced to six years' imprisonment for procuring the making of an entry in a record of a bank by deception and theft at the District Court today (February 10).

The court heard that in 1994, a Director of a finance company informed by another finance company that the defendant taking 170 000 shares of stocks valued about $9.35 million which were owned by his company to pledge a loan for the defendant himself. He then made a report to the Police.

Investigations by the Commercial Crime Bureau revealed that the defendant had forged the signatures of the two Directors of the company and issued cheques amounting to $12.57 million to either his own company or to others for settling his security trading margin accounts or gambling debts between August 1991 and December 1993.

During the investigation, the Police found that the defendant absconded to Thailand and then to the Mainland in 1994 and sneaked back to Hong Kong about six year ago. Efforts were made to locate the defendant and finally he was arrested at his son's premises in Kwun Tong in October 2005.

The defendant was charged with 17 counts of procuring the making of an entry in a record of a bank by deception and one count of theft. He pleaded guilty to all charges in Janaury 26 this year and the sentence was meted out today.


Police Report No. 6

Issued by PPRB

End/Friday, February 10, 2005