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Standard Chartered Employee Released From Custody In China
Tom Burroughes
25 May 2012
Standard Chartered said its employee Wu Yidian Eden has been
released from police detention in China, this publication can confirm. Wu’s conditions of release included bail of 50,000 yuan (around
$7,900) and remaining in China
for one year, her fiance Jason David Tan reportedly said in an interview,
according to Bloomberg. Standard Chartered later confirmed details of the reports as accurate. The private-bank relationship manager, a naturalised Singapore
citizen, had been held since March 6 as part of an investigation of one of her
clients, according to Tan. The client had allegedly fled with as much as $50
million embezzled from Agricultural Bank of China Ltd., Tan said in March. A Standard Chartered spokesperson confirmed Wu’s release and said the bank isn’t being investigated and that it
couldn’t comment further on Wu’s case as it is part of a continuing
investigation by the police. Wu was held in Jiangyin, a city in coastal Jiangsu province, according to Tan.