Banker Sung …  (성씨 외환은행 시드니점)  ‘stole $7m for sex with prostitutes’

The Sunday Telegraph February 07, 2010 11:37am

A Sydney banker who stole $7 million from his employer allegedly spent much of the cash on prostitutes, showering them with lavish gifts.

Sung …, 41, gave evidence in Sydney District Court last week where he has pleaded guilty to fraud charges.

The senior manager, who worked in the Korea Exchange Bank’s Sydney office, was charged in December, 2008 by City Central Fraud Unit detectives.

Chung faced a preliminary sentence hearing last week. He is due to be sentenced later this month.

The court heard he regularly splashed out on business-class flights to Thailand, where he would visit high-priced prostitutes and stay in five-star hotel rooms.

Read all about the banker here.

Can’t naver.com any Korean versions of this story. Perhaps I have mis-hangeulised his name. Netizens please correct.

(edit) Found the story in Hangeul on some Korean blogs but none of the Korean based newspapers.

To update after  Ramstad-Gate:  I wonder how female CEOs of big foreign companies (e.g. Pepsico and Kraft) feel (no pun intended) about their  companies’  investments in Korea?

Posted by Errol, filed under Economics. Date: February 7, 2010, 1:20 am | 1 Comment »