Police arrest former Wang Fuk Court owners corporation member on fraud charges

已複製連結

Police arrested a man and a woman who are understood to be Kong Cheung-fat, a former member of the Wang Fuk Court Owners' Corporation, and his wife. They are suspected of defrauding the government’s Special 100% Loan Guarantee scheme.
The New Territories South Regional Crime Unit arrested the pair yesterday on charges of conspiracy to defraud and money laundering. In 2022, they applied for the Special 100% Loan Guarantee twice, allegedly misreporting their income from January to March 2020. By using records such as shareholder capital injections, they are accused of creating a false impression that their revenue had dropped significantly due to the pandemic to deceive the government into approving the loans. Most of the loan proceeds were withdrawn in cash, while some were transferred directly into Kong’s personal bank account.