The Wall St Journal reports that the private banker at the center of an embezzlement scandal involving Citigroup Inc. in Indonesia was convicted of fraud Wednesday in a case that dealt a blow to the U.S. bank's expansion in Southeast Asia's largest economy.
A Jakarta court convicted Inong Malinda Dee, 50 years old, of stealing $4.4 million from clients and sentenced her to eight years in prison. She was also ordered to pay a fine of $1.1 million.
"The defendant was found guilty of receiving money through 117 illegal transactions," said South Jakarta District Court Judge Gusrizal in comments broadcast on television…
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Find out more at http://online.wsj.com/article/SB10001424052970204603004577267013169779198.html
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