Hong Kong sends RBS trader to prison

She was sentenced for creating false bond trading records.

The District Court has sentenced Shirlina Tsang, a former Royal Bank of Scotland trader, to four years and two months in jail for trying to hide losses of nearly HK$240 million.

She admitted to creating fictitious bond trading records in 2010 and 2011 to make it appear she was making a profit. Her lawyer said her actions were due to work stress and depression caused by her brother's death.

The lawyer said Tsang was remorseful; admitted her mistake to RBS and gave her bonus back to the bank.

District Court Judge Garry Tallentire said this was an extremely serious offense, and that Tsang’s acts led to enormous losses by RBS. RBS discovered the fraud two years ago after an internal review.

Last Wednesday, another former RBS manager was jailed for four years after admitting to stealing more than HK$28 million from clients' accounts to cover up other investors' losses