Bank vows full responsibility following alleged RM400k misappropriation by employee

Chong Chieng Jen (file photo)

By DayakDaily Team

KUCHING, Nov 29: Padungan assemblyman Chong Chieng Jen has applauded a financial institution for taking swift action after news surfaced of an alleged fraud involving one of its employees, who reportedly misappropriated RM400,000 belonging to them.

Chong said he received a call this morning from the bank’s State director, who assured him that the bank had moved immediately once the matter came to light.

“The director also assured me that they will take full responsibility for the wrongful act of the staff and return the money upon conclusion of the investigation,” he said in a statement.

Chong, who is the chairman of the Democratic Action Party (DAP) Sarawak and MP for Stampin, said he has also informed the victims of the latest update.

While the investigation continues, Chong remains hopeful that the victims will recover their money soon.

On Friday (Nov 28), it was reported that a married couple’s lifetime savings amounting to RM400,000 had allegedly disappeared after they withdrew their investments from a unit trust management company and attempted to reinvest them in a financial product promoted by a bank employee.

They were given forms to sign and receipts that appeared official, and all cash transactions took place inside the bank branch, handled solely by the employee.

The couple later discovered the employee had been suspended over issues related to the same product. When they checked with the bank, they were told no such accounts existed, and no deposits had been made. — DayakDaily