SINGAPORE, Nov 9 — A total of four men, aged between 27 and 39, will be charged in court tomorrow for their alleged involvement in a fraudulent mortgage scheme that involved the use of a residential property without the rightful owner's knowledge.

Police said in a news release today that the four men were arrested during a two-day operation on April 14 and 15.

The case came to light on April 3, after the victim discovered that a caveat had been lodged against his property in connection with a loan application that he had not authorised.

Preliminary investigations later revealed that fraudulent documents had been used to apply for mortgage loans, with the victim’s property used as a collateral.

The quartet had purportedly worked with another man with the intention to fraudulently obtain mortgage loans of more than $6 million from two credit companies — using the property as a collateral.

As part of the scheme, the 39-year-old man allegedly impersonated the victim and used forged identity documents to facilitate the loan applications.

Meanwhile, a 27-year-old man lured the victim away from his home on two occasions under false pretences, while a 29-year-old man facilitated access to the victim’s property for valuers to conduct property valuations.

The 36-year-old man's role was purportedly to assist in forging an NRIC that was then used to facilitate the fraudulent scheme.

Efforts to trace the fifth person, whom the four had worked with, are ongoing.

Both the 27- and 29-year-old men face charges of abetment of cheating. The offence carries an imprisonment term of up to 10 years, and the offender may also be liable to a fine or caning, or both.

The 36-year-old man will be charged with abetting the unlawful issue of an identity card, which carriers a penalty of an imprisonment term of up to 10 years, a fine of up to S$10,000 (RM31,714), or both.

The 39-year-old man, who impersonated the property owner and used forged identity documents to sign loan documents and obtain property-related documents from law firms, will be charged with two counts of abetment of cheating, one count of possession of a forged identity card, and three counts of using as genuine a forged electronic record.

Those found guilty of cheating and using as genuine a forged document for the purpose of cheating can be jailed for up to 10 years for each charge, while possessing a forged identity card carries a penalty of up to 10 years' jail, a fine of up to S$10,000, or both. — AsiaOne