Ex-Credit Suisse VP who forged bank letters in multimillion-dollar case gets jail term cut on appeal
Soh Yuan-Yi had her jail term reduced from 13 years to 10 years and seven months, with the appeal judge finding that the trial judge had erred in several respects.
Soh Yuan-Yi, a former Credit Suisse relationship manager, had her 13-year jail sentence reduced to 10 years and seven months following an appeal by her legal team. The Singaporean, 50 years old, was found guilty of forging 112 bank instructions over seven years, causing unauthorized transactions on 22 clients' accounts. The 15 clients involved lost approximately S$2.7 million (US$2.13 million) due to Soh's actions.
Initially, Credit Suisse compensated S$14.3 million for Soh's crimes and related trades, but the appeal judge ruled this figure should not be considered in sentencing. Justice Hri Kumar Nair pointed out multiple errors in the original sentencing, such as misjudging Soh's benefit from the crimes, including the value of a property purchased by Soh and her husband (S$1.37 million) which was later sold for S$1.45 million. This property should have been factored into Soh's net benefit, reducing it to S$1.4 million.
The appeal judge also disagreed with the application of a two-stage sentencing process for some offenses. With these adjustments, Soh Yuan-Yi's revised jail term is now 10 years and seven months.
Written by urgent.news from CNA - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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