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
she deserved it..