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Bank employee accused of embezzling more than US$2.6m
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A bank employee was arrested in Minhang District for allegedly embezzling more than 16 million yuan (US$2.6 million) from an account after guessing the password, local prosecutors said today.
The customer service manger surnamed Tang surrendered to police on November 28 because he lost the 16.2 million yuan that he had embezzled from a customer surnamed Tao.
Tang’s father gave him over 300,000 yuan and his mother-in-law gave him more than 3 million yuan to invest in futures in 2013. He lost all the money.
In order to pay back his father and mother-in-law, he embezzled the money from Tao’s account. He guessed the password and transferred the money to a new account opened in the name of a relative.
Tang transferred the money three times between February 2013 and February 2014 to an account belonging to his relative surnamed Wang, according to the bank. The prosecutors declined to name the bank involved in the case.
He lost all the money after investing in gold and silver futures in April 2014.
In June 2014, after Tao’s wife asked Tang to transfer their money to a foreign bank account, he asked for leave and disappeared.
When the Taos went to the bank to complete the transfer, other bank employees informed them they had insufficient funds. Employees later found a note left by Tang saying he had embezzled the money.
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