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Prosecuted for Renting High LTV Mortgage

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  1. #1

    If he obtained money (a loan) under false pretences (claiming it was for own use when he intended to rent it out), then that would fall within certain provisions of the Theft Ordinance.

    Not quite sure why it's the ICAC and not the Police/DOJ doing the prosecuting?


  2. #2
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    Sorry, but I'm still not sure why that shifts it from the purview of the Police/DOJ to the ICAC? The Police/DOJ deal with most crimes not involving corruption.
    emx and shri like this.

  3. #3

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    if this was the case, would a landlord who declared their mortgage to be a residential one be liable for prosecution?


  4. #4

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    Quote Originally Posted by hkaneshiro:
    if this was the case, would a landlord who declared their mortgage to be a residential one be liable for prosecution?
    Only liable if the mortgage has an LTV above the threshold max for buy to let. Thus that depends on when the mortgage was obtained.

    But even if liable, prosecution is improbable.

    As usual with HK, selective enforcement applies. Circumstance matters, it's important to note that the property in this case was NEVER lived in by the owner.

  5. #5

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    Quote Originally Posted by traineeinvestor:
    Sorry, but I'm still not sure why that shifts it from the purview of the Police/DOJ to the ICAC? The Police/DOJ deal with most crimes not involving corruption.
    Perhaps the answer is hidden in this term 'Senior station officer at Fire Services Department' aka Civil Servant!! Could be various reasons why certain agency was used to put someone in breach of contract/set an example etc etc..
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    Quote Originally Posted by ndt:
    Perhaps the answer is hidden in this term 'Senior station officer at Fire Services Department' aka Civil Servant!! Could be various reasons why certain agency was used to put someone in breach of contract/set an example etc etc..
    The ordinance seems very specific about what can be investigated / acted up by the ICAC. Really not sure if the report in the SCMP is incomplete (don't recall reading or paying any attention to this in the local media) and misses out on some specifics.

    Lets see if this makes its way to court.

  7. #7

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    Did find this ...

    https://news.mingpao.com/ins/%E6%B8%...1659336298569/

    May be because of HKMC involvement ... don't know if a govt official making false statements to another govt-ish body is under the scope of the ordinances the ICAC operates under.

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    I feel like I have walked into the middle of a conversation in the pub....what is this thread about????


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    Aiya . should have looked at the ICAC website for their press release.

    The ICAC investigation arose from a corruption allegation. Upon completion of the investigation, the ICAC sought legal advice from the Department of Justice, which advised charging the property buyer.
    https://www.icac.org.hk/en/press/index_id_1395.html

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    Quote Originally Posted by HK_Katherine:
    I feel like I have walked into the middle of a conversation in the pub....what is this thread about????
    Get thee back in the public bar!
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