Businessman Jason Poon and wife among six arrested for defrauding $6m in Covid loan scheme

Six individuals, including Hong Kong businessman Jason Poon Cheuk-hung and his wife, have been arrested in connection with a fraud scheme involving the government’s “Special 100% Loan Guarantee”, which was designed to assist small and medium-sized enterprises during the Covid-19 pandemic.

The group, which includes four employees of the surgical mask manufacturer Lockill, is accused of submitting false sales figures and exaggerated salary records in order to qualify for the loan scheme between April and June 2021.

Police allege the fraud amounted to HK$6 million in total, which was obtained through deceptive loan applications.

The case comes after police conducted arrests across several districts, including Kowloon City, Tsuen Wan, Kwai Chung, Tsim Sha Tsui, and the airport on the morning of March 18. 

The arrested individuals include 56-year-old Poon, chairman of construction concern group Chinat Monitor, and his 54-year-old wife, surnamed Chu, both of whom are currently being questioned at the police station. The four employees, aged between 31 and 53, include one man and three women.

Poon’s phone was unavailable for comment when reporters attempted to reach him. However, earlier this month, on March 14, he had posted a video on YouTube where he addressed an issue regarding his wife’s bank account.

He claimed that Standard Chartered Bank froze one of her accounts on March 12 without prior notice, citing a technical issue during a system update. The bank later explained that the account was under review, and the funds remained inaccessible.

In the video, Poon emphasized that he would not submit to actions without legal basis, insisting that he had not violated any Hong Kong laws, including the National Security Law.