SME director admits HK$25m loan fraud

A director of a small and medium enterprise admitted at the District Court today her role in defrauding five banks of 33 loans totalling about HK$25 million and banking facilities of HK$22.5 million, he Independent Commission Against Corruption, said.

She also admitted  deceiving a government department and a public body into acting as guarantors for loans and trade facilities totalling over HK$15.8 million granted by the banks.
 
Irene Ng Sio-I, 44, director of Southern Flash Enterprises, pleaded guilty to 14 counts of conspiracy to defraud. Two similar charges against Ng were left on file at the District Court.
 
Judge Tam Sze-lok adjourned the case to April 17 for sentence. The defendant was remanded in  custody.