SFO Investigates Multi-Million Dollar ASB Fraud

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

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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

SkyCity Appoints Chief Financial Officer
February 13th Morning Report
February 12th Morning Report
NZME 2025 Full Year Results Release Date
Turners Institutional Investor Day
February 10th Morning Report
PEB - Medicare Contractor Novitas Schedules Expert Panel
NZK Enters Into Wellboat Lease Agreement
Fonterra announces Mainland Group leadership change
OCA - Oceania announces Director changes as part of Board refresh