SFO Investigates Multi-Million Dollar ASB Fraud

Article – Businesswire

Aug 31 (BusinessWire) – The ASB has called in the Serious Fraud Office after firing an employee of more than 10 years over a fraud over investment advice involving millions of dollars belonging to 22 customers.

SFO Investigates Multi-Million Dollar ASB Fraud

Aug 31 (BusinessWire) – The ASB has called in the Serious Fraud Office after firing an employee of more than 10 years over a fraud over investment advice involving millions of dollars belonging to 22 customers.

“The Bank has already made restitution to customers where irregularities have been confirmed, and we will continue to work with them to ensure that no customer is adversely affected,” ASB said in a statement late this evening..

The elaborate fraud involved an employee, acting alone, making fictitious investments on customers’ behalfproviding investment advice to customers involving several million dollars.

(BusinessWire)

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1 comment:

  1. upurs, 1. September 2009, 11:35

    yeah nz banks/emplolyees, MADOFF with nzers hard earned money and this is just the first of many