Indian-origin banker gets 13 years imprisonment in Singapore

Singapore, July. (HS):  A private banker of Indian origin was sentenced to 13 years in custody under ‘Computer Misuse Act’ after accepting 20 and 30 other charges of counterfeiting and fraud. Kale Jagdish Purshottam defamed a million dollars from accounts of ‘Barclays Bank’ customers between June 2010 and January 2013.

Purushottam remitted a million dollars by using a fake signatures of his existing customers to pay the old customers. He then made more unauthorized transactions for the recovery of the amount, but failed to do so and there was a loss of at least one million dollars.

Prior to joining the British Bank in February 2010, Purushottam worked for UBS Singapore, where he was the manager of the company called ‘Red Oak’. The company had alleged that by misusing the money in the bank account, it made unauthorized foreign currency transactions also.

Deputy Public Prosecutor Jean Ting told that Purushottam also agreed to pay 1.4 million dollar to Red Oak to avoid legal action.Ting told the court that he had about 81 unauthorized transactions like this.