Three fraudsters jailed

A woman and her two relatives in connection with offences arising from unauthorised money transfers from her employer were sentenced to imprisonments ranging from 21 months to four years and nine months at District Court today (September 21).

The court heard that the 44-year-old female defendant was a former employee of an international bank. After her resignation in July 2000, the bank found in an audit check that she had made a total of 68 unauthorised money transfers from the bank to 11 bank accounts under the name of her and her relatives, including her 45-year-old husband, her 35-year-old brother and her 41-year-old sister, between January 1999 and July 2000.

The case was reported to the Police and investigation was taken over by the Commercial Crime Bureau. Enquiries revealed that the stolen money, a total of $34.5 million, was used for securities trading and properties acquisitions.

Following extensive investigations into the case, the woman and her three relatives were arrested between August and November 2001. The woman was subsequently charged with fraud and procuring the making of an entry in a record of a bank by deception while her relatives were charged with dealing in property known or believed to represent proceeds of an indictable offence.

The woman, her husband and brother were convicted earlier and were today sentenced to imprisonments of four years and nine months, three years and three months, and 21 months respectively. Her sister was acquitted of the charge.


Police Report No. 4
Issued by PPRB

Ends/Thursday, September 21, 2006