Hong Kong bank manager steals $13 mn from customers
July 17th, 2009 - 10:33 am ICT by IANS ( Leave a comment )Hong Kong, July 17 (DPA) A bank manager in Hong Kong was Friday sent to jail for stealing almost $13 million from the accounts of wealthy customers.
A number of prominent Hong Kong socialites were among the victims of Cheuk Sau-yee, 31, a relationship manager in the private banking department of Hang Seng Bank.
Cheuk said she began taking the money to cover up for a $900,000 loss she made through a blunder on one client’s account, fearing the mistake would lead to her losing her $14,000-a-month job.
She made more than 150 unauthorised bank transfers to steal the money between February 2007 and June 2008, using some of the money to buy a luxury flat and repay credit card debts.
Cheuk admitted 17 counts of theft and was sentenced to six years and eight months in jail at a hearing in Hong Kong’s District Court Thursday.
Sentencing her, judge Joseph Yau said her behaviour had tarnished Hong Kong’s reputation as an international finance centre. All her clients have recovered their losses from the bank.
Cheuk’s boyfriend is accused of handling some of the cash. He has pleaded not guilty to money laundering and will face trial later this month.
- Masked woman distributes food, money among poor in Hong Kong - May 31, 2011
- New Zealander charged with stealing millions - Jan 05, 2012
- British financial advisor jailed for fraud - Dec 11, 2009
- Woman who treated daughters `worse than animals' jailed - Mar 13, 2009
- Hong Kong reduces plastic bags by 90 percent - Jul 05, 2010
- Hong Kong tutor faces jail for forcing pupil into having sex - Jun 25, 2009
- Two former employees of Bernard Madoff arrested - Nov 19, 2010
- Carey Mulligan's hair loss woes - Jan 09, 2011
- Celebrity beauty salon owner pleads guilty to cheating - Jan 23, 2011
- Trustee charges HSBC with funnelling disgraced Ponzi King Madoff's massive fraud - Dec 06, 2010
- LiLo promoting products on Twitter in exchange for money - Dec 17, 2010
- Kiwi banker steals $18m from customers, spends $3.4m on prostitutes! - Mar 18, 2010
- Actor Wesley Snipes ordered to begin three-year prison term - Nov 20, 2010
- LiLo fuming over jail sentence, says pal - Apr 24, 2011
- Bogus feng shui master jailed for duping Hong Kong model into sex - Jan 21, 2010
Tags: bank transfers, banking department, blunder, credit card debts, eight months, hang seng bank, hong kong bank, international finance centre, july 17, losses, mistake, money laundering, private banking, relationship manager, reputation, sau, six years, socialites, unauthorised, yau
