Tweet
NCB executive on fraud charges to appear in court 
Monday, 21 December 2009 
A senior executive of the National Commercial [COLOR=blue! important][COLOR=blue! important]Bank[/COLOR][/COLOR] (NCB) is scheduled to appear in the [COLOR=blue! important][COLOR=blue! important]Corporate[/COLOR][/COLOR] Area Criminal Court Monday on fraud charges.
st1\:*{behavior:url(#ieooui) }Lowell Spence, the regional manager for NCB Insurance [COLOR=blue! important][COLOR=blue! important]Services[/COLOR][/COLOR] Limited was charged two weeks ago with stealing more than $5 million from the bank.
He was picked up by detectives from the Fraud Squad.
NCB called in the police after an internal audit uncovered the fraud.
It is alleged that in 2007, Mr. Spence, in his capacity as [COLOR=blue! important][COLOR=blue! important]Relief[/COLOR][/COLOR] Manager, manipulated the [COLOR=blue! important][COLOR=blue! important]system[/COLOR][/COLOR] at the Annotto Bay branch and siphoned off more than $5 million.
Mr. Spence, who has been charged with money laundering, obtaining money by fraud and conspiracy, was offered station bail in the sum of $500,000.
The bank is conducting a follow-up audit to determine the extent of the fraud.
Monday, 21 December 2009 A senior executive of the National Commercial [COLOR=blue! important][COLOR=blue! important]Bank[/COLOR][/COLOR] (NCB) is scheduled to appear in the [COLOR=blue! important][COLOR=blue! important]Corporate[/COLOR][/COLOR] Area Criminal Court Monday on fraud charges.st1\:*{behavior:url(#ieooui) }Lowell Spence, the regional manager for NCB Insurance [COLOR=blue! important][COLOR=blue! important]Services[/COLOR][/COLOR] Limited was charged two weeks ago with stealing more than $5 million from the bank.
He was picked up by detectives from the Fraud Squad.
NCB called in the police after an internal audit uncovered the fraud.
It is alleged that in 2007, Mr. Spence, in his capacity as [COLOR=blue! important][COLOR=blue! important]Relief[/COLOR][/COLOR] Manager, manipulated the [COLOR=blue! important][COLOR=blue! important]system[/COLOR][/COLOR] at the Annotto Bay branch and siphoned off more than $5 million.
Mr. Spence, who has been charged with money laundering, obtaining money by fraud and conspiracy, was offered station bail in the sum of $500,000.
The bank is conducting a follow-up audit to determine the extent of the fraud.