Four men to be charged over alleged mortgage loan fraud involving property owner's home
The men allegedly used forged documents to apply for loans secured against a residential property without the owner's knowledge.
· CNA · JoinRead a summary of this article on FAST.
Get bite-sized news via a new
cards interface. Give it a try.
Click here to return to FAST Tap here to return to FAST
FAST
SINGAPORE: Four men aged between 27 and 39 will be charged in court on Tuesday (Nov 10) over their alleged involvement in a scheme aimed at fraudulently obtaining more than S$6 million (US$4.68 million) in mortgage loans.
The men allegedly worked with another man to fraudulently obtain mortgage loans from two credit companies, using a residential property as collateral without its owner's knowledge, police said on Monday.
The case came to light on Apr 3, when the property owner discovered that a caveat had been lodged against his property in connection with a loan application he had not authorised.
Preliminary investigations found that fraudulent documents had been used to apply for mortgage loans, with the victim’s property used as collateral.
CNA Games
Guess Word
Crack the word, one row at a time
Buzzword
Create words using the given letters
Mini Sudoku
Tiny puzzle, mighty brain teaser
Mini Crossword
Small grid, big challenge
Word Search
Spot as many words as you can
Show More
Show Less
Further investigations revealed that a 39-year-old man had allegedly impersonated the property owner and used forged identity documents to facilitate the loan applications.
A 27-year-old man allegedly lured the property owner away from his home on two occasions under false pretences.
During the owner's absence, a 29-year-old man allegedly facilitated access to the property for valuers to carry out valuations without the owner's knowledge.
A 36-year-old man allegedly helped arrange for a forged identity card to be produced for use in the scheme.
Officers from Bedok Police Division identified the four men and arrested them during a two-day operation on Apr 14 and 15.
A forged identity document and mobile phones were seized as case exhibits.
The police said efforts to trace the remaining accomplice were ongoing.
CHARGES
The 27-year-old man, who allegedly arranged for the property owner to be lured away from his home, will face two counts of abetment of cheating.
The 29-year-old man, who allegedly facilitated access to the property for valuation purposes, will face one count of abetment of cheating.
The 36-year-old man will be charged with one count of abetting the unlawful issue of an identity card.
The 39-year-old man will face six charges: Two counts of abetment of cheating, one count of possessing a forged identity card and three counts of using as genuine a forged electronic record.
He allegedly impersonated the property owner and used forged identity documents to sign loan documents and obtain property-related documents from law firms.
The offence of abetment of cheating carries a jail term of up to 10 years, with offenders also potentially liable to a fine, caning or both.
Abetting the unlawful issue of an identity card and possessing a forged identity card each carry a maximum jail term of 10 years, a fine of up to S$10,000, or both.
The offence of using as genuine a forged document for the purpose of cheating carries a jail term of up to 10 years.
Sign up for our newsletters
Get our pick of top stories and thought-provoking articles in your inbox
Get the CNA app
Stay updated with notifications for breaking news and our best stories
Get WhatsApp alerts
Join our channel for the top reads for the day on your preferred chat app