SINGAPORE — In an effort to pay back the credit card debts and money that he lost in foreign currency trading, a former service manager at Maybank dishonestly misappropriated more than S$1.4 million of the bank's money to help with his financial troubles.
SINGAPORE — In trying to pay back credit card debts and get back money that he had lost in foreign currency trading, a former service manager at Maybank dishonestly misappropriated more than S$1.4 million of the bank's money for his own use.
To open the safe, Phua had to first ensure that the security alarm was disarmed before using a key to unlock the cabinet, which housed the safe. Around March that same year, Phua decided to fund his gambling and forex trading using cash stored in Maybank's safe. Usually, he would store the misappropriated money in his bag, lock the safe, return the key to the drawer and reactivate the security alarm for the safe before leaving.
He would also make sure that the number and denomination of notes returned tallied with the safe's cash records that were kept at the branch.Over two occasions on the evening of June 10 in 2021, Phua dishonestly misappropriated S$404,000 from the safe and converted them into casino chips.His fiancee then encouraged him to confess to his wrongdoing and agreed to help him make full restitution to Maybank.
The cash officer agreed to help him on account that he told the branch manager. Both the manager and Maybank were informed by Phua of his wrongdoings on the same day.
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