Jail for ex-bank loan officer who helped others receive loans after submitting forged documents

SINGAPORE – While working as a contract financial institution loan officer at OCBC Bank, he helped two clients receive loans after submitting forged documents for them.

Nicholas Lau Wei Chong’s offences precipitated OCBC to undergo losses totalling greater than $36,000 after the pair didn’t make any repayments.

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

The trio’s names have been redacted from court docket documents, and as a substitute, 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 3 counts of utilizing a forged doc as real.

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

His job concerned serving to loan candidates with the method of filling within the related documents.

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 test their CPF statements and to evaluate their authentic payslips earlier than he submitted copies of the stated documents with the appliance.

The court docket heard {that a} lady recognized as A1 bought to know one “Jayden Sim” via a gaggle on messaging platform Telegram.

Sim provided her help in acquiring a loan or bank card from a financial institution “within a short time”. He directed her to look 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 bought 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” utility type.

A1 additionally supplied 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) acquired from an unknown particular person a forged 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 authorised A1’s utility for a $15,000 loan however she didn’t make any repayments. She additionally charged gadgets to the bank card issued to her. As a consequence, OCBC suffered losses of $17,000.

Using an identical technique, Lau later helped A2 get hold of a loan. The financial institution suffered a lack of greater than $19,000 after A2 didn’t make any repayments.

The financial institution rejected A3’s purposes, the court docket heard.

Court documents don’t disclose the end result of Sim’s instances.

In an announcement on Tuesday, police stated: “In April 2020, (officers) acquired info that forged payslips and CPF employment contribution statements had been submitted to OCBC as proof of revenue to help (a number of) purposes 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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