SINGAPORE: Four men have been charged in relation to attempts to obtain over S$6 million (US$4.7 million) in fraudulent mortgage loans using a professional violinist’s landed residential property as collateral.
As part of the scheme, the men allegedly took on various roles to forge the alleged victim’s identity card, use it to impersonate him and submit fraudulent documents to apply for mortgage loans.
The violinist, Mr Elgar Kwek Chong Hee, was purportedly lured away from his Katong home so property valuations could be conducted on the place, the police said in an earlier news release.
He later lodged a police report after discovering that a caveat had been lodged against his property for a loan application that he had not authorised.
The four Singaporean men charged on Tuesday (Nov 10) were: Andrew Li Xianneng, 36, Lazarus Ching Fei Fan, 27, Ernest Fan Zhenhao, 39, and Terence Tan Jun Ming, 29.
Preliminary investigations suggested that fraudulent documents had been used to apply for mortgage loans with Mr Kwek’s property used as collateral, the police said in an earlier news release.
Further investigations suggested that the four men had worked with a fifth man, named in charge sheets as Cozen Nova Khor, with the intent to obtain fraudulent mortgage loans of more than S$6 million from two credit companies using Mr Kwek’s property as collateral.
Li was charged with conspiring with Mr Khor and a person named only as Joydep to unlawfully issue an identity card.
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