Hsin-Yu Tsai: Bank clerk to face fresh charges over alleged $2.4m fraud
A former clerk at an inner city bank branch allegedly transferred millions of dollars into an account she created.
Central Sydney
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A former bank employee accused of funnelling millions of dollars from a client’s account through fraudulent transactions could yet face more charges, a court has heard.
Hsin-Yu Tsai allegedly stole $2.4 million while employed as a clerk at a Commonwealth Bank branch in Sydney’s CBD between September 2015 and January 2016.
Almost four years later Strike Force Chipalee detectives arrested her on December 11, 2019, after being alerted to the allegedly fraudulent activity in March.
The Chippendale woman has been charged with knowing dealing with the proceeds of crime, dishonestly obtaining financial advantage and stealing more than $15,000 as a bank clerk – but Downing Centre Local Court heard on Wednesday police expect to lay additional charges.
According to court documents, on September 3, 2015 the now 31-year-old allegedly transferred $2.25 million of client Julius Quan’s money into a fresh account she secretly created in the name of another person.
Police will allege in court the former clerk also withdrew $150,000 from Mr Quan’s account.
Tsai, who also goes by the name Angela, is accused of sending the $2.25 million to a business account via an international money transfer, before $2.24 million was transferred into the coffers of her relative, a 29-year-old man, five days later.
The man, who was also employed at the bank, has also been charged over the alleged activities and remains before the courts having been arrested at Sydney Airport on October 21, 2019.
It is alleged he used the money to buy more than $500,000 worth of items and deposited $1.4 million in his bank account, while Tsai allegedly made transfers into her own account totalling $750,000.
Tsai did not appear in court on Wednesday where her matter was adjourned until February 27.
She was released on bail following her arrest, which was continued.
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