Small and medium firm operators defraud banks of HK$31m

摘要

TWO small and medium enterprise (SME) operators have been charged by Hong Kong’s Independent Commission Against Corruption for their alleged roles in defrauding five banks of 41 loans totalling over HK$31 million and banking facilities totalling HK$22.5 million. They are also charged with deceiving a government department and a public body into acting as guarantors for loans and trade facilities totalling HK$15.8 million granted by the banks. In total they face 16 counts of conspiracy to defraud. The pair set up a company purportedly engaged in audio equipment trading.