The District Court has sentenced a 40-year-old man to 65 months in jail for an $11 million mortgage fraud.

The defendant, together with other people, fraudulently applied to a local bank for a mortgage loan for two North Point residential flats between February and June 2006. The syndicate successfully applied for an $11 million loan after submitting false title deeds and other false documents to the bank.

The case came to light in June 2006 when one of the genuine flat owners found from bank letters that her flat had been mortgaged. The Commercial Crime Bureau arrested the defendant on March 14 last year in Chai Wan.

He was charged with aiding and abetting in dealing with property known or believed to represent proceeds of an indictable offence and conspiracy to defraud.

Another 35-year-old man and a 56-year-old woman arrested in connection with the same case had earlier been jailed for 42 and 44 months.