SINGAPORE: A former bank relationship manager at Credit Suisse had her jail term cut from 13 years to 10 years and seven months after a successful appeal by her lawyers.
Soh Yuan-Yi, a 50-year-old Singaporean, had forged 112 bank instruction letters over seven years to carry out unauthorised transactions on clients’ accounts.
The 22 Credit Suisse accounts involved belonged to 15 clients, and Soh covered her offences by manipulating internal records, causing a net loss of about S$2.7 million (US$2.13 million) to the bank.
Credit Suisse paid S$14.3 million in compensation after the offences were uncovered. However, the appeal judge took issue with this figure and the way it was used.
Justice Hri Kumar Nair found that the trial judge had erred in several respects. These included a finding that Soh had benefited more from the crimes than she had, the fact that she took note of the compensation paid by Credit Suisse, when it should not have been considered at all, and the way she applied her sentencing approach.
Soh had pleaded guilty to 30 charges which included forgery and transferring benefits from criminal conduct, with another 123 charges taken into consideration.
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