A finance broker has been arrested in Sydney, charged with attempting to steal $21.6 million from National Australia Bank Ltd (ASX: NAB).
The 64-year-old man was arrested at Blacktown Police Station on Tuesday morning, facing 4 charges relating to fraudulent bank deposit guarantees used to buy real estate for inflated commissions.
The same investigation resulted in the arrest earlier this year of a 38-year-old former NAB employee and a 47-year-old man. They both remain before the courts.
New South Wales police started its enquiries in February after the bank’s systems detected suspicious activities.
NAB executive group investigations and fraud head Chris Sheehan said no financial losses were actualised from the alleged fraud.
“NAB referred the matter to the authorities as soon as our systems detected unusual activity. We have continued to work closely with police throughout the investigation.”
He added that the former employee accused of the crimes was fired.
“NAB has zero tolerance for any criminal activity and any employee who knowingly engages in such conduct will be dismissed. Where we identify apparent criminal conduct, we immediately refer matters to the police.”
The man arrested this week is due to appear at Blacktown Local Court on Thursday.
The police investigation, dubbed Strike Force Exton, is continuing.
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Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post NAB almost had $22m defrauded before man’s arrest appeared first on The Motley Fool Australia.
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