The Commission Against Corruption (CCAC) of Macao said Monday that it had cracked a case involving several bank workers who colluded with a crime syndicate to defraud mortgage loans.
Nine persons, including the mastermind and the core members of the syndicate and several bank workers, allegedly conspired with over 370 borrowers to falsify documents in order to defraud 11 banks into approving 362 fraudulent loan applications, which involved a sum totaling over 770 million patacas (about 96.4 million U.S. dollars), according to the CCAC.
The case had been referred to the Public Prosecutions Office upon completion of the investigation, said the CCAC. Following the suggestion of the office, the judge of the Criminal Investigation Court has ordered the application of coercive measures to prohibit the departure of some of the syndicate members.
