Woman sentenced for false accounting

A 50-year-old woman convicted of false accounting and using a false instrument was sentenced to five years' imprisonment at the District Court today (January 12).

The court heard that the woman was a Dealing Director of a securities company and was resigned in May 2002. The incident came to light in November 2002 when one of her clients asked the company about the dividend accrued from the shares he bought.

After checking, the company found that the client never had those shares in his account and that there was a large debit balance owed by the client to the company. The company then reported the case to the Police.

Further investigation by the Commercial Crime Bureau revealed that the woman had conducted unauthorised trading on 15 clients' accounts by forging a number of their signatures, changing their correspondence addresses and falsifying their statements. The total amount involved was $5 million. The woman was arrested in May 2003.

She was convicted for 18 counts of false accounting and three counts of using false instrument at the District Court on December 15, 2006 and the sentence was handed down today.


Police Report No. 7

Issued by PPRB

End/Friday, January 12, 2007