4 men, 27 to 39, to be charged for allegedly trying to get over S$6 million in mortgage loans in scheme using fake IC & documents without owner’s knowledge

Four men, aged 27 to 39, will be charged on Nov. 10 with their alleged involvement in a fraudulent mortgage loan scheme.

The scheme apparently used a residential property as collateral without the owner’s knowledge.

Caveat

On Apr. 3, the police received a report that the victim discovered a caveat had been lodged against his property in connection with a loan application he had not authorised.

Preliminary investigations revealed that fraudulent documents had been used to apply for mortgage loans, with the victim’s property used as collateral.

Through follow-up investigations, officers from Bedok Police Division identified the four men allegedly involved.

They were arrested during a two-day operation on Apr. 14 and 15.

Police also seized a forged identity document and mobile phones.

Accomplice

Further investigations revealed that the four men apparently worked with another man with the intent to fraudulently obtain mortgage loans of more than S$6 million from two credit companies, using the property as collateral.

The 39-year-old man allegedly impersonated the victim and used forged identity documents to facilitate the loan applications.

The victim was also apparently lured away by the 27-year-old man from his home on two occasions under false pretences.

While the victim was away, the 29-year-old man allegedly gave valuers access to the victim’s property to conduct valuations without his knowledge.

The 36-year-old man allegedly helped forge an NRIC used to facilitate the fraudulent scheme.

Efforts to trace the remaining accomplice are ongoing.

Charges

The 27-year-old man, who allegedly arranged to lure the property owner away from his home on two occasions to facilitate the property valuations, will be charged with two counts of abetment of cheating under Section 420 read with Section 116 of the Penal Code 1871.

The offence carries a jail term of up to 10 years, and the offender may also be liable to a fine or caning, or both.

The 29-year-old man who allegedly facilitated access to the property for a property valuation will be charged with one count of abetment of cheating under Section 420 read with Section 116 of the Penal Code 1871.

The offence carries a jail term of up to 10 years, and the offender may also be liable to a fine or caning, or both.

The 36-year-old man, who allegedly made arrangements for a forged identity card to be produced, will be charged with one count of abetting the unlawful issue of an identity card under Section 16(2)(c) of the National Registration Act 1965 read with Section 109 of the Penal Code 1871.

The offence carries a fine of up to S$10,000 or a jail term of up to 10 years, or both.

The 39-year-old man, who allegedly impersonated the property owner and used forged identity documents to sign loan documents and obtain property-related documents from law firms, will be charged with two counts of abetment of cheating under Section 420 read with Section 116 of the Penal Code 1871.

He will also be charged with one count of possession of a forged identity card under Section 16(2)(b) of the National Registration Act 1965, and three counts of using as genuine a forged electronic record under Section 471 read with Section 468 and 109 of the Penal Code 1871.

The offences of cheating and using as genuine a forged document for the purpose of cheating each carry a jail term of up to 10 years, while the offence under Section 16(2)(b) of the National Registration Act 1965 carries a fine of up to S$10,000 or a jail term of up to 10 years, or both.