SINGAPORE – A former bank executive who cheated seven people of nearly $2 million in total was sentenced to seven years’ jail on Monday (May 10).
Han Delong, 34, had earlier pleaded guilty to 27 charges involving more than $1.2 million in total. They include five counts of criminal breach of trust, seven of cheating, and one of forgery.
Another 67 charges linked to the remaining amount were taken into consideration by District Judge John Ng during sentencing.
The court had earlier heard that the victims were Han’s clients when he was working for UOB as a senior personal banker between August 2014 and December 2015.
At that time, he was responsible for the sale and marketing of its wealth products such as unit trusts and structured deposits.
Between Feb 28 and Dec 7, 2015, he promoted fictitious fixed deposits purportedly issued by UOB to one of his victims.
She entrusted him with cash totalling $95,000, which he misappropriated.
The court had heard that he also cheated three other victims using a similar method between July and October 2015.
Han resigned from UOB in December 2015.
But he continued promoting a fictitious fixed deposit purportedly offered by the bank to the first victim. She was duped into handing over another $20,000.
From March 2016 to January 2017, Han worked for OCBC as a premier relationship manager and was responsible for its wealth products.
He continued targeting his victims while working for OCBC and even after he left the bank.
Court documents state that some of the money misappropriated by Han was transferred to various recipients, including his brother.
In 2019, OCBC said that Han was dismissed after his attempt to defraud a customer was discovered. The matter was also reported to the police.
He has since made restitution of $275,000, which was taken into account by District Judge John Ng during sentencing on Monday.
The judge, however, said that Han’s repayment of a separate sum of $350,000 to some of his victims – money he had obtained from his later victims – was “just one method of continuing the offence”.
Han’s jail term has been backdated to Oct 8, 2019, when he was remanded.
For each of his cheating offences, Han could have been jailed for up to 10 years and fined.
He could have been jailed for life, or for up to 20 years, and fined for each of his criminal breach of trust offences.
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