Friday, 21st February 2014

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Bank compliance officer charged in 570,000 fraud case

 As a result of an investigation by the Serious Crime Unit of the Royal Gibraltar Police, officers have charged a 50 year old local man with fraud by abuse of position.

 Andrew Smith, 50, of Castle Road, formerly employed as a Senior Compliance Officer with local bank Lombard Odier Gibraltar has been charged with ‘fraud by abuse of position’ in relation to allegedly stealing a total €488,921 and £170,150 from clients of the bank and also from persons who were falsely induced into believing themselves to have invested funds with a legitimate bank. Smith was bailed out on his own recognizance to appear at the Magistrates’ Court at 10am today.

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