A businessman and his wife were granted bail after appearing at Kowloon City Magistrates' Courts over allegations that false records were used to secure approval for a HK$6 million loan under a government-backed financing scheme. Neither was required to enter a plea at the 28 September hearing.
The prosecution alleges that, between 25 June and 30 July 2021, information submitted by the businessman and/or Lockill Biochemical Limited in a loan application was falsely presented as accurate. The alleged false material included company turnover, rent and payroll records.
The application involved The Hongkong and Shanghai Banking Corporation Limited and sought approval from HKMC Insurance Limited under the government-backed scheme. Together, the defendants face one fraud charge. The businessman faces three further charges alleging that he handled property known or reasonably believed to represent proceeds of an indictable offence, while his wife faces one such charge.
The alleged handling of the funds took place between 2 August and late August 2021. The businessman is alleged to have handled HK$2,894,634, while his wife is alleged to have handled HK$341,400.
Both defendants were ordered to provide HK$100,000 cash bail. Conditions include weekly reporting to police, residence at designated addresses, no contact with prosecution witnesses and a ban on leaving Hong Kong. The businessman was allowed to travel from 8 to 12 October. The case was adjourned to 2 November 2026 while prosecutors prepare papers for a proposed transfer to the District Court.