bulletEDITOR'S PICKS

 

Asia could have capital outflows: Aberdeen

From Asia Apr 17 2015 @ 04:04

Asian markets could see capital outflows when the US raises interest rates, according to Hugh...
view article

New Cyprus laws protect offshore homeowners from bank seizure

From Europe Apr 16 2015 @ 17:11

New Cyprus laws to protect offshore homeowners

New laws designed to protect homes from being seized by Cypriot banks are set to be passed in...
view article


bulletRELATED ARTICLES

 

bulletNEWS

 

LATEST NEWS

Valuation gap drives China demand for HK stocks

Valuation gap drives China demand for HK stocksThe huge surge in money flowing into Hong Kong stocks, which pushed the Hang Seng...
view article

London & Colonial launch flexible SIPP...

From Products Apr 17 2015 @ 12:53

Three Europe ex-UK equity funds to keep an eye...

From Products Apr 17 2015 @ 11:00

MORE FROM Asia

LATEST NEWS

Asia could have capital outflows: Aberdeen

Asia could have capital outflows: AberdeenAsian markets could see capital outflows when the US raises interest rates,...
view article

Schroders launches flexible catastrophe bond...

From Products Apr 16 2015 @ 17:18

New Cyprus laws protect offshore homeowners...

From Europe Apr 16 2015 @ 17:11

MORE FROM Asia

LATEST NEWS

Australian regulator steps up financial advice probe

Australian regulator steps up financial advice probeAustralia's corporate, markets and financial services regulator said it is...
view article

Asian equities team at OMGI gets Hong Kong...

From Asia Apr 16 2015 @ 13:07

Guernsey removed from Italian tax blacklist

From Tax & Regulation Apr 16 2015 @ 12:30

MORE FROM Tax & Regulation



Stan Chart banker quizzed on $50m client theft

From People Mar 16 2012 BY: Will Jackson , Online editor , Expert Investor Europe

Add to My News Comments (0)

Add to My News Print

Add to My News

add to twitter

add to linkedin


Standard Chartered's Shanghai Tower office

Standard Chartered's Shanghai Tower office

Police in China have detained a Shanghai-based private banker at Standard Chartered, in relation to a wealthy client who allegedly stole money from Agricultural Bank of China.

According to the Financial Times, naturalised Singaporean citizen Wu Yidian Eden is in custody, having been asked to cooperate with a police investigation into a Standard Chartered client accused of stealing a “large” sum of money from the state-owned Chinese bank.

The BBC reports that the amount in question was almost $50m.

Wu’s fiancĂ©, who spoke with the FT, said her detention followed a notification to police that she intended to visit Singapore this month for their wedding. Jason Tan told the newspaper that Wu is being held without charge, but is under investigation for allegedly “harbouring a fugitive”.

According to the report, the Standard Chartered client alleged to have stolen the money, an executive from the Jiangyin branch of Agricultural Bank of China, has fled the country.

In relation to Wu’s detention, a Standard Chartered spokesperson told International Adviser: "We are unable to comment on Eden’s detention as this is part of an ongoing investigation by the police but we can confirm that Standard Chartered is not being investigated."

According to Standard Chartered’s website, the company opened its first office in China in 1858 and was the first foreign bank to launch onshore private banking and unsecured personal loans there. Today, it has 82 branches and more than 6,400 employees in the country.

Add to My News Comments (0)

Add to My News Print

Add to My News

add to twitter

add to linkedin


COMMENTS


Have your say

(Be the first to) Have your say!

Please sign in or register here to leave a comment. Registration is free and only takes a few moments.






Share us on Twitter

SHARE US ON TWITTER
Join the community

Join us on Linked In

SHARE ON LINKED IN
Inform your colleagues

Switch to our mobile site

SWITCH TO MOBILE SITE
News on the go

Back tot he top of the page

BACK TO TOP OF PAGE
Just click here...