Bank official pockets 5 billion VND by inflating the price of damaged banknotes.

As the head of the treasury department of a foreign bank in Saigon, Loan embezzled 5 billion VND and then inflated the amount of damaged banknotes to cover the cost.

On July 10th, the Ho Chi Minh City Police completed their investigation and recommended that the People's Procuratorate prosecute Ho Thi Cam Loan (34 years old) for the crime of abusing trust to appropriate property.

Loan is a transaction and treasury control specialist at HSBC Bank (100% foreign-owned), working at the Cong Hoa branch (Tan Binh district). She is responsible for all aspects of cash handling, revenue and expenditure management, etc.

According to the investigation, taking advantage of managing the bank's large amount of cash, from September 2013 to May 2015, Loan inflated the amount of damaged banknotes to replace them with intact ones. The cashier also declared a lower cash balance than the actual amount reported to headquarters to pocket the difference... In total, Loan embezzled 5 billion VND.

After being discovered, Loan and her family sold their house and returned nearly 1.3 billion VND to HSBC Bank.

According to VNE