Bank employee in Seville appropriates 890,000 euros of its clients to invest in stock
| Date: February 21, 2010 | Source: Sources |
| Category: Bags and Markets | |
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An employee of the bank whose name has not been made public was arrested yesterday in Seville for misappropriating about 890,000 euros of its clients to invest in the stock market, which is that the high volatility of stock markets is, in many cases, encourage more risky for investors, as it has shown this employee. Has not yet transcended the entity for which he worked.
With the initials PAE, this man 35 years of age and no history, is charged with crimes of fraud, embezzlement and forgery. The investigation began in early November 2009, following a complaint of possession of a bank, who discovered how the accounts of several depositors had stolen money without authorization addressed to another entity.
The police has found that the transfers were directed to the account of a company authorized to operate in the stock which it held the prisoner, who diverted the money from their customers to invest in the floor.
Is accused of the crimes of misappropriation, the transfer of 887,827 euros from the bank accounts of the financial institution to which he had access to the occupied since, and forgery for allegedly complete and sign the necessary orders for the transfer of funds from one account to another, forging the signatures of authorized persons. He is credited also one of fraud by performing all these actions taking advantage of their professional relationship with that bank.
Such facts, questions again if the credit institutions put into practice the ethical code as necessary to ensure the security and stability in financial markets, more and more put into question in view of events.
