Citibank officer jailed for misappropriating more than $35,000
The banking sales officer took money from customers to pay debts, expenses
A Citibank banking sales officer who misappropriated $35,000 from his customers was jailed for 14 months yesterday. Jeremy Chong Zhen Wing, 25, was also involved in other cheating offences.
Yesterday, he pleaded guilty to two counts of cheating, and one count each of misappropriation and criminal breach of trust. Five other charges were also taken into consideration during sentencing.
As a banking sales officer, Chong would handle the application of new accounts, loans and credit card facilities for Citibank customers.
In May last year, two of the victims, Thirunavukkarasu Srinivasan and Juttu Sahadevan Sayee Sundarnath, visited the Citibank branch in Asia Square. They had wanted to deposit $15,000 into each of their accounts to activate their new accounts.
As they had only $1,900 with them, they handed the sum to Chong.
Deputy Public Prosecutor Krystle Chiang said: "The accused then told (the victims) to meet him at the Citibank branch located at Church Street the next day with the remaining outstanding sum."
The following day, Thirunavukkarasu and Juttu went to the branch to deposit the remaining sum through the cash deposit machine, but Chong told them they could not do so and offered to help them deposit the money. Instead, he used the $30,000 he received from them for forex trading, to pay off his debts, and for his own expenses.
In April, Chong also lied to another customer and took $5,000 from him, and later used the money for the same purposes.
Citibank has since made full restitution to the victims.