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.
MORE SINGAPORE NEWS
Latest Photo Galleries on xinmsn
Francois Hollande on Tuesday installed a former banker and ally as economy minister in an emergency reshuffle seen as the "last chance" to h... More Francois Hollande on Tuesday installed a former banker and ally as economy minister in an emergency reshuffle seen as the "last chance" to haul France out of the biggest crisis of his presidency. Duration: 01:53
Date 16 mins ago, Duration 1:53, Views 0