Sharechat Logo

SFO Investigates Multi-Million Dollar ASB Fraud

Monday 31st August 2009

Text too small?

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.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

SML - Synlait Milk Limited - Trading Halt of Securities
AIA - Auckland Airport announces board chair changes
AIA - Auckland Airport announces board chair changes
CEN - Tauhara commissioning progress update
FPH initiates voluntary limited recall
March 28th Morning Report
KFL Celebrates 20 Years of Excellence in Investment Mgmt.
SVR - Savor FY24 Earnings Guidance & Change in Banking Partner
NZK - NZ King Salmon Investments Limited FY24 Results
March 27th Morning Report