bulletEDITOR'S PICKS

 

Pension flexibility extended but advice restricted to FCA regulated firms

From Retirement Jul 21 2014 @ 16:46

Increased flexibility on pensions announced in the UK Budget earlier this year will be extended...
view article

HMRC tax avoidance proposals receive Royal Assent

From Tax & Regulation Jul 21 2014 @ 04:00

Proposals by HM Revenue & Customs to crack down on tax avoidance have now received Royal Assent.
view article


bulletRELATED ARTICLES

 

bulletNEWS

 

LATEST NEWS

NBAD asset management MD and CIO steps down

NBAD asset management MD and CIO steps downMark Watts, the managing director and chief financial officer of the asset...
view article

£250bn money laundering 'storm'...

From Tax & Regulation Jul 23 2014 @ 11:52

Structured product specialist IDAD expands Asia...

From People Jul 23 2014 @ 11:44

MORE FROM People

LATEST NEWS

Saudi Arabia opens $530bn stock market to FFIs

Saudi Arabia opens $530bn stock market to FFIsSaudi Arabia is to open its stock market to direct investment by foreign financial...
view article

RDR compliant reports creating wealth manager...

From United Kingdom Jul 22 2014 @ 15:35

HK investors to increase Asian allocation...

From Asia Jul 22 2014 @ 15:09

MORE FROM Middle East

LATEST NEWS

Ex-JPM Cazenove chairman fined £450k by FCA

Ex-JPM Cazenove chairman fined £450k by FCAThe Financial Conduct Authority has fined the ex-chairman of JP Morgan Cazenove...
view article

Singapore to regulate ‘non-conventional...

From Asia Jul 22 2014 @ 14:12

Fines weigh heavy on Credit Suisse earnings

From United Kingdom Jul 22 2014 @ 11:45

MORE FROM United Kingdom



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...