Germany's 'Robin Hood banker' gets suspended sentence

25th November 2009, Comments 0 comments

The 62-year-old woman, dubbed the "Robin Hood banker", was found guilty of moving a total of 7.6 million euros between December 2003 and February 2005, in 117 separate transfers.

Berlin -- The manager of a bank branch in Germany who secretly transferred money from rich clients to heavily indebted customers was sentenced to a 22-month suspended jail term on Monday, a court spokesman said.

The 62-year-old woman, dubbed the "Robin Hood banker", was found guilty of moving a total of 7.6 million euros (11.4 million dollars) between December 2003 and February 2005, in 117 separate transfers.

Her altruistic aim was to prevent clients from seeing their accounts closed for want of funds.

As a rule, she transferred the money back when the indebted clients were solvent again, but 1.1 million euros were lost when certain customers were unable to pay their debts.

The court, in the western city of Bonn, took a lenient view of the fraud as she owned up immediately and took none of the money for herself.

They also judged she had suffered enough after losing her job and paying compensation.

According to press reports, she now lives off a tiny pension.

AFP/Expatica

0 Comments To This Article