Former HSBC Swiss private bank manager steals $3.2m from rich Turkish clients
Geneva — A former wealth manager with HSBC Holdings’s Swiss private bank in Geneva has been accused of stealing about 3-million Swiss francs ($3.2m) from his rich Turkish clients, drip-feeding money from their accounts over a period of two years. The alleged theft by the banker, who can’t be identified under Swiss law, went undetected for so long because he robbed no more than 10,000 francs from his clients at one time, the Tribune de Genève cited the police as saying. The bank and prosecutors confirmed the allegations. He also stole money by approaching HSBC’s cash desk, saying he was taking out cash for his clients who were in town, and then covering his tracks with falsified signatures, according to the paper’s report on the allegations. The former employee’s ruse was discovered when he tried to withdraw a larger sum that raised the alarm, the paper said. "This case is about a former employee engaging in misconduct for his personal financial gain," said Michael Spiess, a spokesma...
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