Category: Luxembourg
Embezzled 7.85 million euro trial begins
23/10/2009, by Adam Walder
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LUXEMBOURG - The case of a former employee of Crédit Européen, now ING, who embezzled 7.8 million euros over thirty years, goes to court at the beginning of November

 A woman who had embezzled a total of eight million euros over thirty years and lived a life of luxury will start at the beginning of November in a hearing at the District Court of Luxembourg.

The accused is said to have embezzled money from accounts of the Crédit Européen, as it was at the time, from its customers. 7.85 million is said to have been  stolen by the  now 63-year-old, during a thirty years period without anyone suspecting the withdrawals. A total of 108 victims could be identified.

According to the Soir newspaper in Belgium, just under 500 000 euros were seized when the affair came to light in 2004. The woman apparently led a very glamorous life and frequent visited casinos.

Investigations have revealed that the embezzled money came primarily to customers in the Belgian subsidiary of ING at the Cloche d'Or, and an official receipt from the bank was produced for the money.  However the money was then migrated into the culprit's own accounts.

The victims have been sent a report that  states that a civil action against the ING Luxembourg has  been launched . ING had apparently tried a civil case out of court, by striving for a comparison of different victims and their differing loses. ING, however, failed to reach an agreement on the amount of compensation.

The trial before the Luxembourg correctional police will begin on Tuesday 3rd November and is scheduled for four days.

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