Former private banker gets 20 weeks' jail for forgery

[Sephiroth]

Former private banker gets 20 weeks' jail for forgery
By Claire Huang | Posted: 04 February 2013 1238 hrs

SINGAPORE: A former private banker has been sentenced to 20 weeks' jail for forgery, involving losses of about S$2 million.

Jegathes V Baradan, 50, was convicted of 12 counts of forgery. The prosecution proceeded on four of the 12 charges.

He committed the offences between 2008 and 2010, when he was a banker with Merrill Lynch International Bank Limited, and later with Credit Industriel et Commercial.

The Malaysian citizen issued fraudulent letters to his clients, which stated promises of the bank extending credit financing services, among other things.

The letters deceived third-party companies into paying his clients and suffering losses totalling about S$2 million.

-CNA/ac

 

[hokkien]

Very short jail term for this ah neh:(

 

[Hudson]

Moral of the story - want to do, do it big.

S$2 million for 20 weeks - very worth. It is $14,285.71 per day with free food and lodging too.

Think alot of brothers here don't mind 20 weeks for half that amount since there are people who are prepared to queue for bak kaw (a few hours work) for only S$50.