Pages

Sunday, November 29, 2009

Robin Hood Banker Gave Millions To Poor

A German bank manager who secretly transferred millions of pounds from rich clients to debt-ridden customers has been spared jail.

The 62-year-old, dubbed the "Robin Hood banker", was found guilty of moving a total of 7.6 million euros (£6.85m) between 2003 and 2005.

She carried out 117 separate transfers to try and stop people's accounts closing due to lack of funds.

As a rule, the banker - whose name was not reported under German media conventions - moved the money back when the indebted clients were solvent again.

But 1.1 million euros (£991,000) was lost when certain customers were unable to pay their debts.

A court, in the western city of Bonn, took a lenient view of the fraud because the defendant owned up immediately and did not take any money for herself.

A judge also said the banker had suffered enough after losing her job and paying compensation.

The manager was given a 22-month suspended jail term, a court spokesman said.

According to press reports, she now lives off a tiny pension.

No comments:

Post a Comment