Channel NewsAsia
Updated: 02/04/2013 20:38 | By Channel NewsAsia

Former private banker gets 20 weeks’ jail for forgery

Former private banker gets 20 weeks’ jail for forgery


Former private banker gets 20 weeks’ jail for forgery

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

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