18 Jul '11, 10am

Former StanChart consultant swindles more than S$105,000

Former StanChart consultant swindles more than S$105,000

SINGAPORE: A former personal financial consultant with Standard Chartered Bank, who was tasked to advise customers on its wealth management products, abused her position and siphoned off monies from their bank accounts instead. Ma Shumei, 26, transferred more than S$105,000 of customers' money without their authorisation into other accounts between October 2009 and February 2010. On Monday, the court heard that she got hold of her customers' money by forging their signatures. In most of the cases, Ma transferred the funds into her friends' bank accounts. They would then transfer the money back to her via internet banking. In the case involving the largest amount, Ma forged the signature of 61-year-old Brian Wayne McLachlan, one of the bank's customers, to open an e$aver Account under his name without his permission. She did this as such accounts are paperless and no physic...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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