A former Standard Chartered senior customer director was jailed for six years yesterday for misappropriating more than HK$34 million of customers' money with forged documents.
Ronald Mok Wai-man, 45, created an overdraft drawdown facility for one of his customer's accounts and then accessed the money himself and lent it at a high interest rate to another customer who was in financial difficulties. He pocketed the repayment and then used another customer's money to repay the overdraft.
Mok had earlier been convicted on 22 counts, including using false instruments, theft, deception and money laundering, following a trial in the District Court.
The court heard that between 2002 and 2003 Mok increased the overdraft facility of one of his clients, Lok Heung Yuen Cafe Shop, from HK$5.5 million to HK$20 million, without the shop's authority.
Mok then used nine forged documents to transfer funds totalling HK$14.5 million to various accounts, including one belonging to another client, Lau Chun-fai.
Lau was in financial difficulties and Mok said he could source a loan at a higher interest rate. Lau agreed to the terms and Mok transferred about HK$8 million, part of the HK$14.5 million he had withdrawn from the cafe's account, to Lau.