A German bank employee dubbed the ‘Robin Hood banker' has been given a 22-month suspended prison sentence for secretly transferring money from the accounts of well-off customers to those of poorer clients.
The 62-year old woman was caught after transferring a total of £7m in 117 transfers to cover up unauthorised overdrafts she had granted to poor customers of the bank.
Losses of £1m were accrued when the customers were unable to repay the overdrafts. The woman has agreed to reimburse the bank for its losses from her pension pot.
As she did not profit personally from the fraud, and offered to repay the lost money, the court said it would exercise leniency by not subjecting her to a custodial sentence.
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Responding to letter from Treasury Committee chair Nicky Morgan