Former bank employee arrested for 500K fraud

 

Image: Sanook

 

Police yesterday arrested a 60 year old retired former bank employee who siphoned off 500,000 baht from customers and the bank.

 

The offences occurred between 1997 and 2000 while Suksan was a credit approval officer.

 

Suksan, from Tha Sai, Nonthaburi has admitted to stealing from the bank and customers ten times.

 

He was taken into custody on a warrant. The bank was not named. 

 

Source: Sanook

 

-- © Copyright Thai Visa News 2019-11-09

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wow those auditors must be on the ball , only 22 years later. (or did someone complain 22 years later) ha ha

6 minutes ago, mercman24 said:

wow those auditors must be on the ball , only 22 years later. (or did someone complain 22 years later) ha ha

The wheels of justice sometimes move very slow (extra, extra slow in Thailand unless you're a farang who did wrong).

Statute of limitations for bank fraud longer than for murder? Amazing Thailand 

2 hours ago, mercman24 said:

wow those auditors must be on the ball , only 22 years later. (or did someone complain 22 years later) ha ha

Bit of a long winded story, but tangentially relevant.

 

During the 80s, an oil company I worked for would receive cheques from petrol station owners for the delivery of petrol to those stations. The person who's job it was to receive those cheques would stick them in his drawer then, once a month, process them all in one go. That guy goes on holiday and is temporarily replaced for the time he is away; he then returns and resumes his role. Later in the year, the auditors turn up, do their thing then depart. A short while later the green light is given by the auditors and the books are signed off; everything appears to be kushty.

 

About 6 months later, a lawyer for the oil company is approached by another lawyer who tells him that he is representing a client who wishes to sell information to the oil company that will lead them to a fraud of £6 million. In return for the information, the anonymous client wants £1 million.

 

After a bit of internal consideration, the decision is made to pay the £1 million via escrow. The information they received was that cheques which should have been processed when the regular guy was on holiday were paid into a bank account ultimately belonging to the temp. The police were called, the temp prosecuted and some of the cash recovered. 

 

The story doesn't end there though. The oil company wanted to know who the anonymous source was so they hired a private detective to find out. Ultimately, he discovered that the source was actually the auditor who had signed off the books previously. By this time he had left the UK and was retired in the Caribbean and the company was embarrassed by their lack of controls throughout the whole affair so they decided not to pursue a prosecution, but they ensured he was struck off by the ICA.

I used to own a logistics company which included courier services.  One of my larger clients was a major check processing service that did receivables processing a lot of the high tech companies in my area, this being during the "Dot Com Boom". 

We had regular, daily routes stopping a these companies and picking up pouches filled with any checks that had come in that day.  It wasn't unusual to have several million dollars worth of checks in a single pouch.  These pouches we would deliver to the central processing center at the end of the work day.  Some days, if I was short a driver, I would go out and do the pick-up route.

 

One day, I spilled a large cup of coffee all over the front floor of my van...big mess.

I pulled into a parking lot and started sopping up the spilled coffee with some rags.  When I reached way under my drivers seat, I felt something odd....it was one of the check pouches.  I opened it and there was over $4 million  in checks, all dated from several months before. The pouch had somehow slipped under the seat and had never been noticed.

To say my brain nearly exploded in not much of an exaggeration.  My financial exposure was off the charts...I would be responsible for all interest un-accrued during the period from when the checks should have been deposited, not to mention the liability lawsuits that could result.

I rarely drink unless out with friends but there was a lounge nearby and I went in and had a stiff one while I tried to calm down and figure out what to do. I almost called both my lawyer and my accountant but a little voice inside my head said that maybe, just maybe,  since the client hadn't called screaming yet , then maybe they had not yet noticed the missing checks.  

As I said, the check processing firm was huge so the drop off procedure was quite mundane.  There was always a bunch of other couriers dropping pouches off.  We would each drop our pouches in a bin, take it to a counter where a busy clerk would sign for the bin and put it in a stack with others.

So this I did, dropping the months old pouch in a bin with a dozen others and walked out the door.

 

I sweated bricks for a couple of months thereafter but time went on and I never did heard a word about it. 

Lucky.

On 11/9/2019 at 1:45 PM, hanuman2543 said:

Statute of limitations for bank fraud longer than for murder? Amazing Thailand 

Statute of limitations for murder charges is 20 years in Thailand.

1 hour ago, Just Weird said:

Statute of limitations for murder charges is 20 years in Thailand.

Yes I know, but it seems that the fraud case is 19- 22 years ago and they want to prosecute  the man. So the statute of limitations for bank fraud is at least the same or longer

On 11/9/2019 at 11:12 AM, rooster59 said:

Former bank employee arrested for 500K fraud

 

That's all???  No wonder he got arrested.

 

If he was like the better Thai bank employee thieves, he would have stolen and spend many millions of other people's baht before the authorities got around to catching up with him/her.

 

For only 500K?? May as well make it worth the time in prison.

Go big or go home.