A FORMER bank executive who made unauthorised withdrawal of
funds from customers' accounts was jailed a total of 10 months on
Monday for forgery, cheating and money laundering.
Ma Shumei, 26, an ex-personal financial consultant with Standard
Chartered Bank, admitted to eight of 23 charges. She was attached
to the Scotts Mall branch when she committed the crimes between
October 2009 and February last year.
Investigation showed that she forged bank documents in two
victims' names to fraudulently siphon money from their bank
accounts. She first transferred the criminal proceeds to two
intermediary accounts belonging to her two friends.
After they had received the funds, her friends transferred the
money to Ma's bank account via Internet or gave her in cash. She
used the criminal proceeds to primarily repay her debts.
She was found out when the Indonesian customer notified the bank
after finding unauthorised transactions of her account in March
last year
-- ST