Article published: 10:03 AM Monday July 20, 2009
Bank mistake gives NZ couple millions
The couple flees overseas Bank worker says she is now set for the sack
The Kiwi bank employee behind a decimal point blunder that handed millions to a fugitive couple is set to get the sack.
The Westpac staff member responsible for crediting a young New Zealander and his girlfriend with $NZ10 million ($8.05 million) has told a newspaper she is to be "managed out" of her job this week. Her error, in which the decimal point for a $NZ100,000 ($80,500) overdraft facility was misplaced, has proven both embarrassing and hugely costly for the Australian-owned bank. Leo Gao, who owned a failed petrol station in the tourist town of Rotorua, managed to transfer $NZ3.8 million ($3.06 million) of it into an overseas account before fleeing to China and the casino mecca, Macau, in May.
His girlfriend, Kara Hurring, business partner Huan Di Zhang and mother Lei Gao have also disappeared. A source close to the unidentified worker told New Zealand's Sunday Star-Times newspaper she was under intense scrutiny and has been put on stress leave since the incident. "She said: 'They are going to try to manage me out' and that's exactly what's happening," the source said.
The Kiwi bank employee behind a decimal point blunder that handed millions to a fugitive couple is set to get the sack.
The Westpac staff member responsible for crediting a young New Zealander and his girlfriend with $NZ10 million ($8.05 million) has told a newspaper she is to be "managed out" of her job this week. Her error, in which the decimal point for a $NZ100,000 ($80,500) overdraft facility was misplaced, has proven both embarrassing and hugely costly for the Australian-owned bank. Leo Gao, who owned a failed petrol station in the tourist town of Rotorua, managed to transfer $NZ3.8 million ($3.06 million) of it into an overseas account before fleeing to China and the casino mecca, Macau, in May.
His girlfriend, Kara Hurring, business partner Huan Di Zhang and mother Lei Gao have also disappeared. A source close to the unidentified worker told New Zealand's Sunday Star-Times newspaper she was under intense scrutiny and has been put on stress leave since the incident. "She said: 'They are going to try to manage me out' and that's exactly what's happening," the source said.
The source said the mistake had been "highly, highly upsetting" for the woman, who had more than 30 years' banking experience. If fired, she was in danger of losing her house and the chances of finding another bank job in the recession were slim because "she's no spring chicken". The source said: "It's very disappointing the bank is hanging her out to dry."
"It's phenomenal she's being treated like this - mistakes like this happen all the time in the banking industry. "The only reason she's getting it in the neck is because the a---hole took off with the money." Meanwhile, Detective Senior Sergeant Mark Loper, who is heading the police investigation, said efforts to track down Mr Gao were "progressing as expected".
"We're still doing our investigations and we're getting closer," he said. But he dismissed as "media stuff" recent claims that Ms Hurring, who had an on-again off-again relationship with Mr Gao, planned to come home soon and cut a deal with police to give evidence against Mr Gao.
There have been other claims that it will be impossible to bring Mr Gao to justice in New Zealand without co-operation from Chinese authorities.
This is because there is no extradition agreements between the two nations and Mr Gao, with his millions, could be considered an attractive asset to China.
Source: www.news.com.au
http://www.news.com.au/westpac-staffer-set-for-sack-over-8m-error/story-0-1225752118421?from=public_rss
"It's phenomenal she's being treated like this - mistakes like this happen all the time in the banking industry. "The only reason she's getting it in the neck is because the a---hole took off with the money." Meanwhile, Detective Senior Sergeant Mark Loper, who is heading the police investigation, said efforts to track down Mr Gao were "progressing as expected".
"We're still doing our investigations and we're getting closer," he said. But he dismissed as "media stuff" recent claims that Ms Hurring, who had an on-again off-again relationship with Mr Gao, planned to come home soon and cut a deal with police to give evidence against Mr Gao.
There have been other claims that it will be impossible to bring Mr Gao to justice in New Zealand without co-operation from Chinese authorities.
This is because there is no extradition agreements between the two nations and Mr Gao, with his millions, could be considered an attractive asset to China.
Source: www.news.com.au
http://www.news.com.au/westpac-staffer-set-for-sack-over-8m-error/story-0-1225752118421?from=public_rss
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