Jail for securities officer who stole client shares

A securities firm employee who manipulated the company's computer system to take shares from clients' accounts and sell them was jailed yesterday for six years and four months.

Siu Leung-to, who was a settlement officer at Taifair Securities and not licensed by the Securities and Futures Commission (SFC) at the time of the offences, pleaded guilty in the Court of First Instance yesterday to five counts of theft and one of money laundering.

The thefts occurred between March and June 2009 and the total in proceeds from the shares sold in the case was more than HK$3 million.

via Business feed http://www.scmp.com/business/money/markets-investing/article/1105690/jail-securities-officer-who-stole-client-shares