Comm Bank staff in alleged fraud: report

Staff at Australia's biggest lender, Commonwealth Bank, have been accused of being complicit in an elaborate fraud worth $76 million.

Two men will reportedly face court after they allegedly masterminded a $76 million Ponzi scheme that involved some Commonwealth Bank staff.

The bank staff received secret commissions for their role in the alleged fraud, which was ignored by management at Australia's biggest lender, Fairfax Media reports.

The pair who allegedly concocted the scam are not CBA employees but are accused of using forged documents to borrow millions of dollars for several property developments that never got off the ground.

They've reportedly been charged with nearly 100 fraud and deception offences and are due to face court in February 2017.


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Source: AAP



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