A former manager at Bank of East Asia has been sentenced to 10 years in jail for stealing a total of HK$65 million ($8.37 million) from his clients’ accounts and for forging documents to conceal his crimes.

A former manager at Bank of East Asia has been sentenced to 10 years in jail for stealing a total of HK$65 million ($8.37 million) from his clients’ accounts and for forging documents to conceal his crimes, according to the South China Morning Post.

The High Court judge, Mr Justice Patrick Li Hon-Leung, said he was puzzled how an initial debt of HK$4 million could have led the man to steal a far larger sum.

Ming Chi-lau, 57, had had earlier pleaded guilty to 11 counts of theft and eight counts of using a false instrument, the report said. The offences were carried out between 1997 and 2012. The judge was quoted as saying that the offences "greatly affected the goodwill of the Bank of East Asia and confidence of the public".

But he noted that Ming had been "remorseful and cooperative" since his crimes were discovered, the report said.

The court heard that Ming, who started his career at the bank as a clerk, had started stealing the money because of the collapse in the property market that had burdened him with substantial mortgage debt and credit card bills. In an attempt to recover the victims' losses, Ming invested in the stock market, which caused further substantial losses, the report said.

In mitigation, the court heard Ming, who has a clear record, is divorced with no children. He committed the crimes because of "a frightening circle of debt", his lawyer was quoted as saying.