Tony Fung Kam-fai, proprietor of Dragon Win Motors, was sentenced to 38 months’ imprisonment for fraudulently obtaining a $3.8 million loan under the Special 100% Loan Guarantee (SLG) scheme by overstating employee numbers and payroll expenses. The ICAC investigation revealed that Fung falsified Mandatory Provident Fund (MPF) records and employee information to secure the loan, with the misrepresentation later discovered after the funds were granted. The court emphasized the premeditated nature of the crime and reduced the sentence slightly for a late guilty plea. The ICAC noted this case as part of broader investigations involving six SME proprietors, highlighting its commitment to maintaining integrity in Hong Kong’s business environment.
Resources: https://www.icac.org.hk/en/p/press/index_id_2015.html