Citibank exec guilty of stealing USD 4M

A Jakarta court has found a former executive at Citibank guilty of fraud and embezzling money from customers’ accounts. Malinda Dee’s lavish lifestyle finally caught up with her when the South Jakarta District Court ruled that she used customers’ money to buy 2 Ferraris, a Humvee, a Mercedes, a Porsche, among others. She was ordered jailed for 8 years. The case has prompted a wide-scale probe into banking fraud in Indonesia, home to some of Asia’s richest people. The charges against Dee also caused sanctions on Citibank.

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