A scheme member of Mandatory Provident Fund (MPF) Scheme was convicted today (14 July 2010) and fined $6,000 at the Kwun Tong Magistracy for breaching section 43E(1) of the Mandatory Provident Fund Schemes Ordinance (the "Ordinance") by making false and misleading statements submitted in documents to approved MPF trustees.

According to the prosecution, the defendant, Li Patrick Fai, applied to two trustees on 8 September 2009 and 10 September 2009 respectively for early withdrawal of his MPF accrued benefits on the grounds of permanent departure. Investigation by the MPFA found that the defendant had recklessly provided false and misleading statements in claiming that he had not previously claimed payment of accrued benefits on the grounds of permanent departure on an earlier departure date. The defendant pleaded guilty to two counts and was fined $3,000 for each summons, totalling $6,000.

End/Wednesday, 14 July 2010