Former insurance agent convicted of fraud in Hong Kong

Former insurance agent convicted of fraud in Hong Kong | Insurance Business Asia

Former insurance agent convicted of fraud in Hong Kong

A Hong Kong insurance agent has been convicted of fraud, having illegally collected commissions and bonuses of over HK$120,000 (SG$21,000).

Former FWD Life Insurance agent Wong Chau-ying, 26, had obtained the money by making false representations about handling several insurance policies, The Standard reported. On Monday, Wong pleaded guilty to two counts of conspiracy to defraud, as he stood trial at the Kowloon City Magistrates’ Court. The case was heard by Magistrate Stephanie Tsui May-har.

The court learned that Wong committed the crime between December 2018 and June 2019.

During that period, FWD Life Insurance received three policy application forms that were submitted via Wong’s computer account. The insurer, which believed that Wong was behind these applications, awarded him commissions of over HK$75,000 and bonuses of about HK$46,000.

However, a graft investigation launched by the Independent Commission Against Corruption proved that the three insurance application forms were not handled by Wong. The commission also found that Wong was outside of Hong Kong when two of the suspected application forms were submitted to the company via his computer account, the report said.

Wong was previously released on bail, and his sentencing is scheduled on Dec. 19.