bulletEDITOR'S PICKS

 

Bond portion control – Technical briefing

From Tax & Technical Dec 17 2014 @ 05:18

A bond’s ownership structure can be adapted, futureproofing a family’s investment as their needs...
view article

EEA action group claims FSA ‘unlawfully restricted human rights’

From Products Dec 15 2014 @ 17:27

An action group for life settlement fund investors has accused the FSA of “unlawfully restricting...
view article


bulletRELATED ARTICLES

 

bulletNEWS

 

LATEST NEWS

IFAs: Support trade associations or jeopordise independence

IFAs: Support trade associations or jeopordise independenceThe last month has been one of travel. Firstly a symposium to address in Toronto...
view article

Gov't proposes FCA enforcement overhaul

From Tax & Regulation Dec 19 2014 @ 11:46

SLI global expansion set to continue into 2015

From United Kingdom Dec 19 2014 @ 11:17

MORE FROM Analysis

LATEST NEWS

Axa agrees sale of Romanian business

Axa agrees sale of Romanian businessAxa has announced the sale of its life and savings insurance operations in Romania...
view article

HK firms must fix failures in sale practices...

From Asia Dec 18 2014 @ 15:57

Rysaffe set to continue following Gov’t...

From Tax & Regulation Dec 18 2014 @ 15:46

MORE FROM Europe

LATEST NEWS

JPM AM acquires Aviva Investors Asia Pacific platform

JPM AM acquires Aviva Investors Asia Pacific platformJP Morgan Asset Management has acquired Aviva Investors’ Asia Pacific Real...
view article

Jailed IFA banned from industry

From United Kingdom Dec 18 2014 @ 11:13

Barings to debut with three Hong Kong domiciled...

From Products Dec 18 2014 @ 10:54

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...