Tai Po blaze survivors charged with fraud over HK$330,000 in Covid-19 relief loans
Former Wang Fuk Court residents accused of overstating business revenue decline to obtain government-guaranteed loans.
Quick Look
A couple who survived the Tai Po fire appeared in court charged with two counts of fraud and money laundering for allegedly obtaining HK$331,300 in Covid-19 relief loans through false revenue statements.
AI-generated summary
Why It Matters
The Personal Loan Guarantee Scheme was introduced in 2020 to aid companies struggling during the Covid-19 pandemic.
A couple who survived the deadly Tai Po blaze last year have been barred from leaving Hong Kong pending trial for allegedly obtaining more than HK$330,000 (US$42,000) in government-guaranteed loans by overstating the decline in revenue of their decoration business.
Former Wang Fuk Court residents Jason Kong Cheung-fat, 65, and Rosanna Cheung Yeuk-lan, 62, appeared in Sha Tin Court on Tuesday to face two counts of fraud and one of money laundering.
The couple were not required to enter pleas after prosecutors applied a five-week adjournment to prepare the paperwork to transfer the case to the District Court for trial.
According to a charge sheet available for press viewing, the defendants misrepresented to HSBC the decline in sales of Ace Interior Design & Engineering Company, of which they are directors, to support two applications under the 100 per cent Personal Loan Guarantee Scheme between February 8 and June 30, 2022.
The scheme was a relief measure introduced in 2020 to provide fully government-guaranteed loans to companies struggling to stay afloat during the Covid-19 pandemic.
Prosecutors also accused the couple of laundering the HK$331,300 they dishonestly obtained between April 4 and July 25 that year.
What to Watch
AI outlook — possibilities, not facts
Case transfer to District Court for trial
Very likely · Within weeks
Open Questions
- How did prosecutors uncover the revenue misrepresentation?
- What plea will the defendants enter at the District Court?
