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A 42-year-old man was sentenced at the District Court today (November 21) to six years and nine months' imprisonment for procuring the making of an entry in a bank by deception and using a false instrument.
The court heard that the defendant was a former account executive of an investment company in Hong Kong. In May 2004, he set up two mirror companies, in names similar to his clientsˇ¦ companies. Without his clients' authorisation, he sold all the shares in their accounts. He also submitted false instructions purportedly from clients to transfer the sale proceeds of $10 million to the two mirror companies. The case was handled by Commercial Crime Bureau after a report was received.
The man fled to Canada in May 2004. He was arrested in Canada in October 2009 and was subsequently extradited to Hong Kong on April 14, 2011.
The defendant was subsequently charged with two counts of procuring the making of an entry in a bank by deception and two counts of using a false instrument. He was convicted earlier and the sentence was handed down today.
Police Report No. 199
Ends/Monday, November 21, 2011
Issued at HKT 20:04
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