Miri MP files report against bank over loss of SGD272K from fixed deposit account

Dr Teo (middle) flanked by his lawyer Abun Sui (right) and financial clerk Lee Ping after lodging a police report.

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By Brad Rantayy

MIRI, Mar 5: Miri MP Dr Michael Teo Yu Keng has lodged a report against a local bank and two of its staff after money amounting to SGD272,893.74 has disappeared from the fixed deposit account he set up at the bank here.

He lodged the police report today at Miri Central Police Station (CPS), accompanied by his lawyer Abun Sui and financial clerk Lee Ping.

According to the report, Dr Teo claimed that he kept that amount in a fixed deposit account at the bank on April 4, 2014.

Two bank officers came to see him, promising to re-invest the amount for another two years at an interest rate of 7.1 per cent with a maturity date of April 4, 2016.

“Now, after the maturity date of two years, the money has disappeared in the bank and cannot be taken out,” he said in the police report.

He has also reported the case to Bank Negara. —DayakDaily