Corrupt Commonwealth Bank worker Angie Tsai learns fate in Sydney court

A CBA employee in Sydney who took millions from customers has learnt whether she is going to jail today.

Angie Tsai enters the Downing Centre on Friday. She did not come out after being jailed for at least two years. Picture: NCA NewsWire / Flavio Brancaleone

A Commonwealth Bank employee in Sydney who took millions from customers has been jailed for at least two years after a judge declared he could not be soft on white collar crime.

CBA teller Angie Tsai admitted to Downing Centre District Court that she siphoned the money in order to fund a lavish lifestyle she had lived with her ex-boyfriend before she was caught by internal investigators in 2019.

The 33-year-old, who pleaded guilty to dishonestly obtaining a financial advantage by deception, took $500,000 from a dead customer’s account in 2014 and took more than $2 million from another customer who was overseas in 2015.

Tsai (front) shortly after her arrest. Picture: Channel 7

The bank was affected overall to the tune of $3.5 million, the court heard.

Some of the money was used to pay off a home loan for a property in Kirribilli and Tsai also said her ex-boyfriend had bought a Ferrari as he wanted to meet new people in the Ferrari Owners’ Club.

Judge John Pickering SC said on Friday that the $600,000 Ferrari purchase was extreme but that Tsai herself had also benefited from the cash.

“Buying a Ferrari is perhaps the greediest thing someone can do from stealing money that there is in our world,” the judge said.

“(But) it was not as if she herself didn’t also share to live an extravagant life based on that money.”

Judge Pickering said he was in a difficult position in deciding how to punish Tsai as she was now in a new relationship with two young children who rely on her.

But he also said people who commit white collar crime should not get off scot-free despite her lawyers having pushed for her to avoid jail.

“White collar crime is something that is always difficult to compare, we sentence people for … robbery for tiny amounts of money to such significant terms and then you have someone who steals $3.5 million and ultimately counsel, on her behalf, submits that she should not even get full time custody,” Judge Pickering said.

“Indeed, one can imagine if our banking system was as simple as just letting employees take $3.5 million whenever they like - our economy wouldn’t last very long, the banks would collapse.

“You can’t seriously allow people who are employed by banks to steal $3.5 million and be treated lightly.”

Judge Pickering sentenced Tsai to three years and three months jail with a non-parole period of two years.

She will be first eligible for parole in December 2022.