GBC NEWS

Saturday 23 August 07:31

Former compliance officer charged with half million pound fraud

Author: GBC

Date: 20 February 2014 at 07:47

A former Senior Compliance Officer at local bank, Lombard Odier, appeared before the Magistrate’s Court this morning facing charges of fraud. 50-year-old Andrew Smith allegedly stole over 488 thousand euros and 170 thousand pounds between November 2012 and August 2013.

He’s been charged with Fraud by Abuse of Position. The allegation is that the money was stolen from clients of the bank, and from people who were falsely induced into believing themselves to have invested funds with a legitimate bank.

Mr Smith is represented by David Dumas QC. He’s been bailed out in the sum of £40,000 and will next appear before the Magistrate’s Court on 28th March.

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