Westpac bank gave Christine Jiaxin Lee an unlimited overdraft following a processing error in 2012
Malaysian student Christine Jiaxin Lee has pleaded innocence after spending $4.6 million after Westpac bank mistakenly transferred it to her account.
The student spent the money on designer goods after the bank accidently gave her an unlimited overdraft in 2012. Lee claimed she thought the money came from her parents.
The 21-yer-old chemical engineering student appeared in court in Australia facing charges of dishonesty obtaining financial advantage by deception and knowingly dealing with the proceeds of crime.
Lee reportedly noticed the unlimited overdraft in July 2014 and went on a $4.6 million spending spree that lasted 11 months.
Purchases included designer handbags, clothes, jewellery, mobile phones and a vacuum cleaner. Luxury items were bought from brands such as Chanel, Cartier and Christian Dior.
Lee reportedly spent $220,00 in Dior’s Sydney branch.
The transfer error was noticed by the bank in April 2015 when a senior manager phoned Lee to ask where the money was.
Lee allegedly tried to arrange for an emergency Malaysian passport so she could leave the country undetected. The student was then arrested in May 2015 at Sydney’s Kingsford Smtih Airport whilst trying to board a flight bound for Malaysia.
Appearing in court today, she pleaded not guilty.
Hugo Aston, Lee’s lawyer, said he felt confident that his client would be acquitted.