Four individuals orchestrated an unauthorized plot to extract millions in capital from credit companies VM Capital and Comfort Credit. The conspirators coordinated bogus property valuations by booking the owner for musical performances while forging Singpass data and identity cards. Terence Tan Jun Ming aided the venture by coordinating viewings and transferring title deeds across legal offices. While Tan faces a pre-trial conference this month, legal proceedings for the remaining co-accused will resume in December.
Key points
Four men stand accused of attempting to defraud two financial firms of S$6.2 million.: Four men stand accused of attempting to defraud two financial firms of S$6.2 million.
The fraudulent mortgage plot was uncovered when the victim discovered an unauthorized cav…: The fraudulent mortgage plot was uncovered when the victim discovered an unauthorized caveat on his property.
Legal proceedings have commenced with one pre-trial conference set for this month and oth…: Legal proceedings have commenced with one pre-trial conference set for this month and others adjourned to December.
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The professional violinist was purportedly lured away from his landed home in Katong so property valuations could be conducted on the place without his authorisation.
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…
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