Hong Kong’s Court of Appeal has upheld a 10-year prison sentence for a former UBS Group AG banker convicted of laundering nearly HK$135 million ($17.2 million) stolen from a client on the Chinese mainland.
The ruling, handed down Wednesday, marks the end of a closely watched case involving Suen Kin Wing, 38, a former associate director at UBS’s Hong Kong office. Prosecutors said Suen exploited his position to defraud a client and used the proceeds to fund a lavish lifestyle that included luxury cars and overseas property purchases.
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