fbpx
Connect with us

News

Former Bank Relationship Manager Charged For Using Customer’s Fixed Deposit To Buy Gold

Published

My Post 2021 10 26T163622.266
Source: CNN Indonesia & Bernama

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

A former relationship manager of a bank was brought before the Sessions Court on Monday (25 October) on charges of breach of trust of money amounting to RM411,442.17, belonging to a senior citizen, to buy seven gold bars without the man’s knowledge.

Based on a report by Sinar Harian, 43-year-old Mohd Saibulrijal Mohd Saad pleaded not guilty after the charges against him were read before Judge Datin Sabariah Othman.

The incident took place three weeks ago, 6 September, while Mohd Saibulrijal was the relationship manager of the bank. He was charged with breach of trust after he had withdrawn a fixed deposit of RM411,442.17 and had transferred it into a current account belonging to the elderly man.

Bank 2

He then purchased seven gold bars weighing 1.5 kgs worth RM376,110.72 for his own use, without the elderly man’s knowledge or permission.

The act was allegedly committed at a bank in a shopping mall in Bangsar, Brickfields, between 8.52am and 4.50pm.

This case is currently being investigated under Section 408 of the Penal Code, which carries a maximum jail sentence of 14 years, whipping and also a fine, if convicted.

The court allowed the accused a bail of RM30,000 with one surety and set 27 October as the date for the re-mentioning of the case.

Who knew that keeping your money at a bank isn’t even safe enough anymore.

What do you think about this? Let us know in the comment section.

 

Also read: “Malaysia’s First VIP Criminal” Tun M Weighs In On Court’s Decision To Temporarily Release Najib’s Passport

My Post 2021 10 26T123808.311

Source: Bernama

Follow us on Facebook, Youtube, Twitter, and Instagram for the latest stories and updates daily.

TRENDING TODAY