A Korean couple who admitted trying to borrow $US20 million ($46 million) from a Takapuna bank with a forged document have been ordered to leave on the first available flight.
They claimed to lead a United States-based mission that would use the loan to build a hospital and hotel in New
Zealand to rehabilitate prostitutes.
Leaving New Zealand was a condition of the 12-month suspended sentences they received in the Auckland District Court. Judge Stan Thorburn also fined Sin Ae Ko and her husband, Pyang Sup Sim, $5000 each for uttering a forged document, payable if they fail to leave within 28 days.
Their lawyer, Graeme Newell, said they had no money. Their tickets for Korea were due to expire and they could use them to catch the next flight.
He said the offence was naive and failed to yield any money.
But the summary presented by crown counsel Mike Heron said criminals were targeting banks, individuals and organisations worldwide through fraudulent use of documents called prime bank instruments. This innovative strain of fraud capitalised on the mutual trust banks had, which was the basis of international finance.
Last November 13, the defendants went to the Takapuna branch of the ASB and introduced themselves as senior officers with the Samaria Missions USA Inc. They sought to borrow $US20 million to build a hospital, hotel and missionary centre. The hotel and hospital would employ prostitutes as part of their rehabilitation.
As security, they produced a Citibank Philippines time certificate of deposit in Ko's name for $US25 million, with the intention that the ASB would obtain a standby letter of credit from Citibank covering the loan.
However, the fraud squad found that Citibank Philippines did not issue time certificates, and that Samaria Missions had no accounts with the bank. A search of addresses frequented by the couple revealed other false bank documents.
