Property News · August 21, 2020

Hong Kong Justice Secretary’s Standard Chartered mortgage is under scrutiny as US sanctions on city officials sever banking ties


Two of the seven Hong Kong officials sanctioned by the United States government have outstanding mortgages held with international banks, obligations which are coming under scrutiny as financial institutions move to sever ties with them to comply with US regulations.Secretary for Justice Teresa Cheng Yeuk-wah took out a mortgage with Standard Chartered Bank for her HK$26 million (US$3.4 million) Tuen Mun villa, bought in 2008, according to Land Registry records. Commissioner of Police Chris…

Source : South China Morning Post
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