Former RBS trader sentenced to four years in jail


Shirlina Tsang, a former Royal Bank of Scotland Group Plc trader who pleaded guilty in Hong Kong to fraud for trying to hide losses of $30.8m, was sentenced to 50 months in jail.

Bloomberg News reports that Tsang, 43, had admitted to creating false records of her bond trading from mid-2010 until October 14, 2011 to make it appear she was generating profit at the bank.

Tsang was remorseful, admitted her mistake to RBS and repaid the bank her bonus.

Tsang's 'colossal misjudgment' was said to be due to work stress and depression caused by her brother’s death, he said. She could’ve been jailed for as long as seven years.

'Financial services offenses are being treated with increasing severity', said Denis Brock, a litigation partner at King & Wood Mallesons. 'This might suggest a trend that whilst individuals were, in the past, less familiar with the opprobrium which such offenses generated, there is no longer any excuse', he said.

Hit the link below to access the complete Bloomberg article:

Ex-RBS Trader Gets 50 Months in Hong Kong Jail for Fraud

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