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Ex-bank employee charged with forging documents to disburse housing loans worth S$7.7m

SINGAPORE — A former mortgage specialist at OCBC Bank has been charged on Thursday (Nov 9) with 13 counts of forging documents relating to housing loan applications amounting to a staggering S$7.7 million.

SINGAPORE — A former mortgage specialist at OCBC Bank has been charged on Thursday (Nov 9) with 13 counts of forging documents relating to housing loan applications amounting to a staggering S$7.7 million.

Between January 2014 and April 2015, Paul Liew Ziguang, allegedly forged the documents and led his employer to believe that his clients were earning higher annual incomes, or had enough cash to meet regulatory requirements.

As a result, OCBC approved the housing loans.

The documents Liew forged included IRAS Notice of Assessment, bank statements and pay slips.

In one instance in March 2015, he is said to have forged an IRAS Notice of Assessment bearing the name of one his clients, deceiving OCBC into approving a housing loan amounting to S$1,240,000.

Other loans disbursed ranged between S$230,000 and S$1,025,000.

Court documents did not show if the 30-year-old pocketed the amounts he cheated his employer.

Liew returns to court on Nov 23.

For forgery of documents for the purposes of cheating, he could face a jail term of up to 10 years, and fined, per charge.

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