hongkong.scmp.com
Thursday, September 12, 2002
Banker guilty of $0.5m theft
MO PUI YEE
A former bank manager embezzled more than half a million dollars from a customer's fixed-deposit account to pay off his credit card debts after forging his signature on withdrawal forms, a court heard yesterday.
Wong Kai-cheung, 45, ex-assistant manager of the Hong Kong Chinese Bank, withdrew funds from Ip To-leung's account on seven occasions between April and September last year totalling $526,679, the District Court heard.
Wong pleaded guilty to seven counts of obtaining property by deception and one of using a false instrument before Deputy Judge Michael Jenkins.
Prosecutor Michael Arthur said Mr Ip, 54, had contacted Wong in May 1997 on the advice of an ex-colleague. Mr Ip opened a fixed-deposit account at the bank's Queensway branch in Admiralty, where Wong worked, and deposited $544,878 in pension funds.
But Wong, who was responsible for Mr Ip's account, withdrew funds on seven occasions last year after forging Mr Ip's signature on fake forms.
In January, Wong gave fake forms to Mr Ip confirming his account balance. However, when Mr Ip contacted the bank it said it had not issued them. Further, Mr Ip was told Wong had been dismissed by the bank on September 26 last year amid lay-offs.
Wong was arrested at home on February 22. He freely admitted the offences, telling police he had spent all the money he embezzled to settle credit card debts, the court heard.
Deputy Judge Jenkins asked the prosecution to check whether Mr Ip had received compensation from the bank and adjourned sentencing Wong until September 25 for reports. |
