Forex hero charged with fraud

In August 2004 a currency salesman at Forex travelled to Thailand and persuaded a 28 year old colleague, who had stolen 2.8 million kronor, to return home.

Now the company hero is being prosecuted for embezzlement, after having swindled Forex out of 1.8 million kronor, reported Helsingborgs Dagblad.

After his contribution beyond the call of duty, the 32 year old was for a while beyond suspicion. But he has now been forced to admit that he used colleagues’ PIN codes and manipulated exchange rates.

One of his managers noticed that profits from currency sales at weekends were strangely low. A computer expert at Forex in London trawled through 40 million transactions and discovered that the fault always occurred at the desk manned by the 32 year old.

The man and his former colleague deny that there is any connection between their respective frauds.

TT/The Local