Jail for ex-bank mortgage officer who helped others obtain loans after submitting solid paperwork

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SINGAPORE – While working as a contract financial institution mortgage officer at OCBC Bank, he helped two prospects obtain loans after submitting solid paperwork for them.

Nicholas Lau Wei Chong’s offences brought on OCBC to endure losses totalling greater than $36,000 after the pair did not make any repayments.

But the financial institution rejected a 3rd buyer’s bank card and mortgage functions for $18,000.

The trio’s names have been redacted from courtroom paperwork, and as an alternative, recognized as A1, A2 and A3.

Lau, 26, who has made no restitution, was on Tuesday (April 26) sentenced to eight months’ jail after he pleaded responsible to a few counts of utilizing a solid doc as real.

Deputy Public Prosecutor Samyata Ravindran informed the courtroom that on the time of the offences, Lau was working as a mortgage ambassador on the financial institution’s branches at Hougang Mall and Ang Mo Kio Hub.

His job concerned serving to mortgage candidates with the method of filling within the related paperwork.

Lau additionally testified that he was anticipated to ask the candidates to go online to their Central Provident Fund (CPF) account with him current to examine their CPF statements and to overview their unique payslips earlier than he submitted copies of the stated paperwork with the appliance.

The courtroom heard {that a} girl recognized as A1 received to know one “Jayden Sim” by way of a bunch on messaging platform Telegram.

Sim provided her help in acquiring a mortgage or bank card from a financial institution “within a short time”. He directed her to search for Lau on the financial institution’s Hougang Mall department to have the appliance processed, stated the DPP.

The prosecutor didn’t state how Lau and Sim received to know one another.

Lau was working on the Hougang Mall department on Feb 11, 2020, when he attended to A1 who signed a bank card and a “cash-on-instalments on credit card” software kind.

A1 additionally offered her identification card for Lau to make a replica, however she didn’t hand her payslip or CPF statements to him.

The DPP stated: “The accused (Lau) obtained from an unknown particular person a solid payslip for January 2020 pertaining to A1 purportedly issued by Antaes Asia.

“The accused fraudulently certified that he had seen the original of the above mentioned document and submitted it to OCBC along with the (application) form, even though he had not received the said original from A1 and had reason to believe that the said document was forged.”

OCBC later accepted A1’s software for a $15,000 mortgage however she didn’t make any repayments. She additionally charged gadgets to the bank card issued to her. As a end result, OCBC suffered losses of $17,000.

Using the same methodology, Lau later helped A2 acquire a mortgage. The financial institution suffered a lack of greater than $19,000 after A2 did not make any repayments.

The financial institution rejected A3’s functions, the courtroom heard.

Court paperwork don’t disclose the result of Sim’s circumstances.

In a press release on Tuesday, police stated: “In April 2020, (officers) obtained info that solid payslips and CPF employment contribution statements had been submitted to OCBC as proof of revenue to assist (a number of) functions for bank cards and loans.

“Investigations showed the applicants had initially responded to loan advertisements that they came across on online platforms, which offered assistance in obtaining a loan or credit card from a bank within a short time and for a service fee.”

Lau’s bail was set at $30,000 on Tuesday, and he was ordered to give up himself on the State Courts on May 5 to start serving his sentence.

This article has been edited for readability. 

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