The police are currently pursuing four fugitives involved in a building fraud scheme involving over HK$60 million. Among them is a lawyer with the surname Yip. It is reported that subsequent investigations revealed more cases within the scheme. One of the cases involves a unit on Wing Kwong Street in To Kwa Wan, where individuals used fake identities to pose as the deceased owner who had been absent for 21 years. Together with a middle-aged woman named Leung, they borrowed money from "loan sharks". However, shortly after the woman committed the crime, she died by charcoal burning in Wong Tai Sin Tung Wui Estate in September last year, along with a female mahjong companion. Before her death, she accused "Mr. Yip" of being responsible for her demise. The police believe "Mr. Yip" is a key member of the fraud syndicate. Leung was suspected of believing Mr. Yip's words due to debt, assisting in the fraud to make a profit and repay debts, but unfortunately met a tragic end.
The Wing Kwong Street unit with a fake owner involved in the charcoal burning incident last year
On September 13 last year, a double suicide by charcoal burning occurred in Wong Tai Sin Tung Wui Estate involving two women. They were suspected to be mahjong companions and committed suicide due to debts. It was reported that the 57-year-old woman, Leung, who died left a message to friends mentioning that "if anything happens, it's Mr. Yip who caused my death". She also left a note to her family stating that "Mr. Yip" would return HK$2 million for the unit on Wing Kwong Street. These statements raised suspicions with the police. After breaking the building fraud scheme, it was revealed that Leung was a partner of the fake owner of the Wing Kwong Street unit and had connections to the fraud syndicate, possibly being one of the participants.
Leung was heavily indebted and acted as a guarantor for other friends. Overwhelmed by debt, she met "Mr. Yip" from a law firm in Mong Kok, who persuaded her to join the fraud syndicate to make huge profits.
The syndicate targeted vacant units previously owned by deceased or emigrated owners, using fake identity documents to falsely declare themselves as the rightful owners and apply for mortgages or sell the properties. The scheme involved 8 units, with 4 owners deceased, one emigrated, and one possibly still alive at the age of 128.
Leung and the "resurrected" owner borrowed money from "loan sharks"
One of the units involved was Unit 72 on Wing Kwong Street, To Kwa Wan, where the original owner was born in 1904 and had passed away in 1999. However, in May last year, he mysteriously "came back to life" and together with Leung, borrowed money from a financial company. In reality, the syndicate arranged for someone to impersonate the deceased owner using forged identity documents, falsely claiming to be born in 1934 and still alive, and borrowed money from "loan sharks" with Leung. Later that year, the imposter sold the unit to a man named Sum, who then arranged for an agent to negotiate with the Buildings Department for the acquisition.
Additionally, Leung and her husband jointly owned a unit in Lung Cheung Mansion on Waterloo Road, suspected to be involved with the fraud syndicate. In August last year, the property was transferred to Leung for HK$1.8 million, handled by a lawyer from the law firm in Mong Kok where "Mr. Yip" worked. Before and after the transfer, Leung applied for mortgages according to Land Registry data, attempting 14 mortgage loans from 12 financial companies or individuals, totaling over HK$4 million. The lawyer from the Mong Kok law firm and some of the financiers were related to the building fraud case (including units on Wing Kwong Street and Wellington Street). Eventually, Leung, trapped in debt, committed suicide with her female mahjong companion approximately three weeks after the property transfer.
Reporters went to the unit on Waterloo Road to inquire, and neighbors indicated awareness of the unit owner's connection to the building fraud case but were unclear about the family's situation. Subsequently, the building security guard asked the reporters to leave, revealing that the unit was currently unoccupied.
The police temporarily arrested 12 people
The police temporarily arrested 12 people, including the prominent barrister "Panda Barrister" Siu Chun-yan and his wife, lawyer Wai Pui-hin, and Lam Yan-fong. Some individuals involved in the case are still at large, and the police are currently pursuing "Mr. Yip", a couple responsible for impersonating the owners, and an individual assisting in money laundering.
The fraud syndicate targeted properties where the original owners had been deceased or emigrated for many years, or properties left unattended, colluding with individual lawyers from law firms, "Mr. Yip", and employees from financial companies. They used fake identity documents to process "affidavits of loss of title deeds" and then applied for loans from financial companies and sold the properties. After the buyers paid the purchase price to the law firms, according to the syndicate's instructions, the law firms first repaid the loans to the financial companies, and the remainder was transferred to the members' accounts in cash.
The Commercial Crime Bureau's Fraud Investigation Team received a referral from the Buildings Department at the end of last year, suspecting that fraudsters had illegally taken possession of a property on Wing Kwong Street, claiming it as their own and selling it to profit. Following investigations and intelligence analysis, the Commercial Crime Bureau found that the ownership of at least 8 properties had been illegally misappropriated using similar methods, involving a total of HK$62.7 million. Twelve individuals were arrested, including practicing barrister "Panda Barrister" Siu Chun-yan and his wife Jia Qianming, practicing lawyer Wei Peixuan, and Lam Yan-fong. Some suspects are still at large, and the police are currently pursuing "Mr. Yip", a couple who impersonated the owners, and an individual assisting in money laundering.
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