bulletEDITOR'S PICKS

 

Brokers warn they will report those not complying in UAE

From Middle East Apr 23 2014 @ 16:15

Pressure is mounting on insurance brokers in the UAE as the full scale of the upcoming regulatory...
view article

High flyers: Intermediary profile St James Global

From Profiles Apr 23 2014 @ 10:52

The sky’s the limit for the chief executive of St James Global, Paul Nicholson, as his financial...
view article


bulletRELATED ARTICLES

 

bulletNEWS

 

LATEST NEWS

Kreston appoints director of client services

Kreston appoints director of client servicesIsle of Man-based Kreston has appointed a director of client services.
view article

Neuberger Berman launches emerging market debt...

From Products Apr 23 2014 @ 16:44

FCA appoints former Lehman Brothers director as...

From People Apr 23 2014 @ 16:39

MORE FROM People

LATEST NEWS

Brokers warn they will report those not complying in UAE

Brokers warn they will report those not complying in UAEPressure is mounting on insurance brokers in the UAE as the full scale of the...
view article

Schroders trims two funds from range

From Products Apr 23 2014 @ 12:11

Care cost confusion causes inheritance planning...

From Retirement Apr 23 2014 @ 11:52

MORE FROM Middle East

LATEST NEWS

Bribery trial of former Deutsche banker highlights City excess in Japan

Bribery trial of former Deutsche banker highlights City excess in JapanA former Deutsche Bank salesman on trial for bribing a public official in Japan...
view article

High flyers: Intermediary profile St James...

From Profiles Apr 23 2014 @ 10:52

Gap between investment expectations and reality...

From Products Apr 22 2014 @ 17:29

MORE FROM Asia



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 fiancé, 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...