Hypo Salzburg – Million dollar fraud: prison sentence for ex-bank employee

“I am guilty” – those were the only words the former Hypo employee spoke to the judge on Tuesday. In addition, the main defendant remained silent in the proceedings surrounding the multimillion-dollar fraud at Hypo Salzburg. The ex-bank employee and her accomplice have both made extensive confessions.

The sentence for the woman: three years partially conditional, one year unconditional. Her accomplice lasted three and a half years without exception. The reason: the man has already been convicted several times. The ruling still gives the ex-Hypo employee the option of an ankle bracelet.

Revealed by internal bank investigation
According to the indictment, the woman and her accomplice allegedly made a total of 151 loans to fictitious customers since 2017. On the other hand, she is said to have pocketed the money of seventeen clients since 2006, which was actually intended as an investment. She also allegedly sold securities without a warrant and kept the proceeds. The accomplice allegedly forged documents for the crimes. The charges under the Criminal Code: breach of trust, embezzlement and falsification of documents

The whole thing came to light in 2021 through internal bank investigations. The investigations dragged on for two years. This was probably also possible because the main accused ex-employee still had extensive powers as a representative of the bank at the time.