Four charged in S$6M mortgage fraud that used a stranger's home

Police said Monday the four men were arrested during a two-day operation by Bedok Police Division on Apr 14 and 15. Officers seized a forged identity document and mobile phones as case exhibits. The men, aged 27 to 39, appear in court on Tuesday.

The crew allegedly targeted two credit companies, using the victim's home as collateral without his knowledge. According to police, the 39-year-old impersonated the property owner, leaned on forged identity documents to sign loan paperwork and pulled property-related documents from law firms. Fraudulent documents propped up the loan applications themselves.

Three others are accused of doing the groundwork. The 27-year-old allegedly lured the owner away from his home twice under false pretences. The 29-year-old allegedly let valuers inside for property valuations while the owner was gone. And the 36-year-old allegedly helped arrange a forged identity card for the plot.

The charges stack up differently for each man. The 27-year-old faces two counts of abetment of cheating. The 29-year-old faces one count of abetment of cheating. The 36-year-old is charged with one count of abetting the unlawful issue of an identity card. The 39-year-old faces six charges: two counts of abetment of cheating, one count of possessing a forged identity card and three counts of using as genuine a forged electronic record.

The case broke on Apr 3, when the owner discovered a caveat had been lodged against his property over a loan application he had not authorised. Penalties are heavy: abetment of cheating carries up to 10 years in jail, plus possible fines or caning. Abetting the unlawful issue of an identity card and possessing a forged identity card each bring up to 10 years, a fine of up to S$10,000, or both, while using a forged document to cheat carries up to 10 years. Police said the hunt for the remaining accomplice continues.