A former loans officer at the National Commercial Bank
who pleaded guilty to stealing $15 million from the institution has been
sentenced to three years in prison.
Kevin Marshall, who was attached to the Knutsford Boulevard branch was sentenced when he appeared before the Half-Way-Tree Criminal Court Wednesday.
Marshall had pleaded guilty to stealing $10 million, but prosecutors say the figure was $15 million.
His attorney urged senior magistrate Judith Pusey to give him a six month sentence, but the request was dismissed by the magistrate who argued that Marshall was placed in a position of trust at the bank and had breached the trust.
Marshall was charged in November last year after he fled the bank and went into hiding when the racket was uncovered.
The Fraud Squad had reported that between May 2008 and June last year, Marshall conspired with other persons and prepare more than 14 fictitious loan agreements totalling $15 million.
The money was funnelled through fictitious accounts created by Mr. Marshall who later pocketed the cash.
The management of the bank uncovered the irregularity in July last year and called in the police.
However, when investigators from the bank went to the New Kingston branch in search of him, he slipped out of the bank and went into hiding until his capture several months later.
And a senior executive of the National Commercial Bank appeared in court Tuesday on fraud charges.
Lowell Spence, the regional manager for NCB Insurance Services Limited was charged last month with stealing more than $5 million from the bank.
The case was mentioned before the Corporate Area Criminal Court.
He is to return on February 23 to answer to charges of money laundering, conspiracy to defraud and causing the bank to pay out money.
It is alleged that in 2007, Mr. Spence, in his capacity as Relief Manager, manipulated the system at the Annotto Bay branch and siphoned off more than $5 million.
He was arrested after an internal audit uncovered the alleged racket.
Kevin Marshall, who was attached to the Knutsford Boulevard branch was sentenced when he appeared before the Half-Way-Tree Criminal Court Wednesday.
Marshall had pleaded guilty to stealing $10 million, but prosecutors say the figure was $15 million.
His attorney urged senior magistrate Judith Pusey to give him a six month sentence, but the request was dismissed by the magistrate who argued that Marshall was placed in a position of trust at the bank and had breached the trust.
Marshall was charged in November last year after he fled the bank and went into hiding when the racket was uncovered.
The Fraud Squad had reported that between May 2008 and June last year, Marshall conspired with other persons and prepare more than 14 fictitious loan agreements totalling $15 million.
The money was funnelled through fictitious accounts created by Mr. Marshall who later pocketed the cash.
The management of the bank uncovered the irregularity in July last year and called in the police.
However, when investigators from the bank went to the New Kingston branch in search of him, he slipped out of the bank and went into hiding until his capture several months later.
And a senior executive of the National Commercial Bank appeared in court Tuesday on fraud charges.
Lowell Spence, the regional manager for NCB Insurance Services Limited was charged last month with stealing more than $5 million from the bank.
The case was mentioned before the Corporate Area Criminal Court.
He is to return on February 23 to answer to charges of money laundering, conspiracy to defraud and causing the bank to pay out money.
It is alleged that in 2007, Mr. Spence, in his capacity as Relief Manager, manipulated the system at the Annotto Bay branch and siphoned off more than $5 million.
He was arrested after an internal audit uncovered the alleged racket.
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