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Lawyer charged with conspiracy to cheat bank of mortgage loans
Published on Mar 31, 2015 12:08 PM
Mohammed Lutfi Hussin, 48, faces nine charges of conspiring to cheat OCBC Bank of delivering a total of $6.2 million as mortgage loans in 2005 and 2006. -- ST PHOTO: WONG KWAI CHOW
By Elena Chong
SINGAPORE - A lawyer was hauled to court on Tuesday for his role in a housing loan scam.
Mohammed Lutfi Hussin, 48, faces nine charges of conspiring with Mohammad Sauki Mawadi, a former real estate agent, to cheat OCBC Bank of delivering a total of $6.2 million as mortgage loans in 2005 and 2006.
Court documents say that Sauki dishonestly submitted documents as part of a mortgage loan application to OCBC for nine properties by inflating their purchase prices and induced the bank to approve and deliver higher mortgage loans.
The loans approved by the bank ranged from $320,000 to $1.4 million for options to buy properties in Woodlands, Sembawang, Pasir Ris and Serangoon Gardens.
