Monday, March 19, 2012

Standard Chartered Banker Held in China Requests Lawyer - Bloomberg

AppId is over the quota
AppId is over the quota

Requests by Wu Yidian Eden, the Standard Chartered Plc (STAN) private banker being detained by police in China, to meet with a lawyer have been passed on to Chinese authorities, the Singapore Consulate-General in Shanghai said.

Staff of the consulate visited Wu, 31, who is being held in Jiangyin, a city in coastal Jiangsu province, on March 16, attache Lynn Ho said in an e-mailed response to queries today. Police have held Wu, a naturalized Singapore citizen, since March 6 in an investigation of one of her clients, according to Jason David Tan, Wu’s fiance.

The Singapore government’s representative in Shanghai will keep in touch with Wu and the Chinese authorities and continue to assist her and her family, Ho said.

Three calls to the Jiangyin police press office and five calls to the government press office in Wuxi, which has jurisdiction over Jiangyin, weren’t answered.

Standard Chartered, the London-based lender whose pretax earnings from China doubled in 2011, said it isn’t under investigation. The lender declined to comment further as it’s an ongoing investigation.

Wu’s client allegedly fled with as much as $50 million embezzled from Agricultural Bank of China Ltd., Tan said.

To contact the reporter on this story: Sanat Vallikappen in Singapore at vallikappen@bloomberg.net

To contact the editor responsible for this story: Chitra Somayaji at csomayaji@bloomberg.net


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