Former NAB employee Kevin Chen jailed for stealing $620,000 to buy land, clear credit card debt
A “trusted” NAB employee who worked at the bank for 10 years has been caught using his high-level Docklands HQ access to fleece almost $620,000.
Wyndham Leader
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A “trusted” NAB employee who stole $620,000 to buy land and clear debts has been jailed.
Kevin Chen, 39, was sentenced in the County Court on Monday to a minimum two years’ jail after pleading guilty to theft charges.
Chen was working at NAB’s Docklands office in the litigation department when he put a deposit on a $460,000 block of land.
When he was knocked back on a loan to pay the balance, he turned to thievery, using his high-level computer system access to manipulate NAB bank accounts and funnel $455,000 to the land conveyancer to complete the sale.
Chen, who was “no doubt buoyed by the simplicity” of his first theft, decided to do it again to pay off significant loan and credit card debt he and his pregnant wife had racked up, this time funnelling $162,000 into his Commonwealth bank account.
All up, Chen stole $617,991.88 between December 2018 and February 2019.
The court heard NAB fraud investigators were “relatively easily able to associate” Chen to his unknowing conveyancer.
NAB fraud officers interviewed Chen in March 2019 then he was “immediately terminated”.
The bank referred Chen to Victoria Police in May 2019.
Chen made full admissions to the first theft but his second swindle wasn’t detected until August 2019.
The court heard Chen worked in various roles at the bank including assessing insurance on loans and handling defaulted accounts.
The former Taiwanese army conscript worked as a child minder, a pizza delivery driver and an English teacher prior to joining NAB in 2009.
Judge Paul Lacava said Chen was a “trusted employee” who had been “very familiar with the workings of the bank”.
“Offending of this kind which involves a breach of trust by an employee is very serious,” Judge Lacava said.
“Employees in a position of trust like you must be deterred in engaging in this sort of conduct.”
Chen has yet to repay any money but has agreed to pay compensation.
The block of land is currently under a restraining order and would most likely be confiscated unopposed.
Chen was jailed for a maximum three years and six months.
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