Man sentenced for deception

A 58-year-old man was sentenced to six years' imprisonment for offences including deception and false accounting at the Court of First Instance today (August 30).

The man was arrested in New York and extradited to the Commercial Crime Bureau on February 7, 2007.

Enquiries revealed that the defendant was the owner of a garment trading company and has purchased gambling chips at HK$1.13 million with his credit cards but failed to make repayment in 1993. He also made use of forged invoices and receipts to acquired loans amounted to HK$1.2 million from a bank which was subsequently defaulted. Defendant further provided 22 letters of indemnity to two negotiating banks with a view to facilitate payment but the buyers did not accept the goods and the man defaulted the indemnity which was amounted to HK$38 million.

The man had fled to the United States in 1993 and was arrested in New York on May 18, 2006. He was subsequently extradited to The Commercial Crime Bureau on February 7, 2007 and the trial commenced at the Court of First Instance on August 14, 2007.

The defendant was subsequently charged 31 counts for evasion of liability by deception, false accounting and procuring the making of an entry in the record of a bank. He was found guilty of the offences on August 29 and the sentence was meted out today.


Police Report No. 7
Issued by PPRB

End/Thursday, August 30, 2007