Four men to be charged over alleged mortgage loan fraud involving property owner's home

SINGAPORE: Four men aged between 27 and 39 will be charged in court on Tuesday (Nov 10) over their alleged involvement in a scheme aimed at fraudulently obtaining more than S$6 million (US$4.68 million) in mortgage loans.The men allegedly worked with another man to fraudulently obtain mortgage loans from two credit companies, using a residential property as collateral without its owner's knowledge, police said on Monday.The case came to light on Apr 3, when the property owner discovered that a caveat had been lodged against his property in connection with a loan application he had not authorised.Preliminary investigations found that fraudulent documents had been used to apply for mortgage loans, with the victim’s property used as collateral. Further investigations revealed that a 39-year-old man had allegedly impersonated the property owner and used forged identity documents to facilitate the loan applications.A 27-year-old man allegedly lured the property owner away from his home on two occasions under false pretences.During the owner's absence, a 29-year-old man allegedly facilitated access to the property for valuers to carry out valuations without the owner's knowledge.A 36-year-old man allegedly helped arrange for a forged identity card to be produced for use in the scheme.Officers from Bedok Police Division identified the four men and arrested them during a two-day operation on Apr 14 and 15.A forged identity document and mobile phones were seized as case exhibits.The police said efforts to trace the remaining accomplice were ongoing.CHARGESThe 27-year-old man, who allegedly arranged for the property owner to be lured away from his home, will face two counts of abetment of cheating.The 29-year-old man, who allegedly facilitated access to the property for valuation purposes, will face one count of abetment of cheating.The 36-year-old man will be charged with one count of abetting the unlawful issue of an identity card.The 39-year-old man will face six charges: Two counts of abetment of cheating, one count of possessing a forged identity card and three counts of using as genuine a forged electronic record.He allegedly impersonated the property owner and used forged identity documents to sign loan documents and obtain property-related documents from law firms.The offence of abetment of cheating carries a jail term of up to 10 years, with offenders also potentially liable to a fine, caning or both.Abetting the unlawful issue of an identity card and possessing a forged identity card each carry a maximum jail term of 10 years, a fine of up to S$10,000, or both.The offence of using as genuine a forged document for the purpose of cheating carries a jail term of up to 10 years.