Pair arrested over suspected property deed fraud

Police said on Sunday they had arrested two men on suspicion of stealing the deed to an elderly woman’s flat in Tai Kok Tsui and using it as collateral for a HK$6 million loan.

The force said that one of the suspects, aged 59, recently became friends with the 81-year-old victim, who had supposedly told him where she kept important documents.

Officers said the other suspect, aged 26, went to a financial company together with a woman – who pretended to be the flat owner – and used the paperwork to secure a loan, before depositing it into his account.

The police said this is what drew their attention, as the amount of money that was deposited did not match the suspect’s income.

The two men, who were arrested on Friday, are suspected of using a forged identity document, money laundering and conspiracy to defraud.