A former Hang Seng Bank account manager, Cheung Ngai Yi, has been banned for life by the Securities and Futures Commission after being convicted of stealing over HK$1.5 million from a client. The District Court sentenced him to 30 months’ imprisonment for misappropriating the funds through 88 unauthorized ATM withdrawals over a nine-month period. The SFC stated that Cheung’s actions, which involved selling the client’s investments without authorization to fund his withdrawals, demonstrated a fundamental lack of the integrity required in the financial industry.
Resources: SFC bans Cheung Ngai Yi for life | Securities & Futures Commission of Hong Kong
