Ex-bank officer to be charged for cheating and money laundering offences involving almost $2m

A 33-year-old former Senior Personal Banker will be charged in court on Tuesday (Oct 8) for multiple offences, including defrauding victims of almost $2 million.

This comes after investigations by officers from the Commercial Affairs Department, said the police in a statement on Monday (Oct 7).

The offences, which include cheating and money laundering committed between February 2015 and April 2018, had resulted in his victims sustaining losses totalling $1,969,000.

The man is accused of having defrauded his victims into parting with their money under the pretext that it would be used towards placements in fixed deposits or investments in financial products.

To assure his victims, he allegedly resorted to the use of forged documents.

The man is also accused of attempting to obstruct the course of justice by trying to tamper with the evidence of two witnesses after he suspected that the police had started investigations.

The accused will be charged in court with the following offences:

• Six counts of criminal breach of trust by agent. If convicted, he faces imprisonment for life or a jail term of up to 20 years, and shall also be liable to a fine for each charge;

• One count of forgery for the purpose of cheating. If convicted, he faces a jail term of up to 10 years and a fine;

• 11 counts of cheating and dishonestly inducing a delivery of property. If convicted, he faces a jail term of up to 10 years and shall also be liable to fine for each charge;

• One count of attempted cheating and dishonestly inducing a delivery of property. If convicted, he faces a jail term of up to five years and a fine;

• Eight counts of forgery. If convicted, he faces imprisonment a jail term of up to four years and/or a fine for each charge;

• Two counts of attempting to obstruct the course of justice. If convicted, he faces a jail term of up to three-and-a-half years and/or a fine for each charge; and

• 65 counts of converting or transferring benefits of criminal conduct (money laundering) the Corruption, Drug Trafficking and Other Serious Crimes (Confiscation of Benefits) Act. If convicted, he faces a jail term of up to 10 years and/or a fine of up ro $500,000.