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.
A photo of the forged NRIC that was seized as a case exhibit. (Photo: Singapore Police Force)
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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.
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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.
Source: CNA/bg
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