Bouquet for cracking fraud
Officers of the Fraud Division of Commercial Crime Bureau (CCB) have cracked a complex bank fraud case in which 14 lending banks were defrauded of $153 million in invoice financing loans by two culprits using over 300 false invoices between January and July, 2007.
After 45 days of trial at the Court of First Instance, the two culprits were convicted of 14 counts of fraud and sentenced to imprisonments for seven years and three months and eight years and three months respectively.
On July 28, representatives of the victimised banks called at CCB and presented complimentary banners to Acting Senior Superintendent Ho Ying-foo and the Officer-in-Charge of the case, Acting Chief Inspector Tang Shun-yan, for their leadership and professionalism in investigating the fraud.
