Latest BankAsiana News
Sep 24, 2014
View/Post Comments U.S. Attorney Paul J. Fishman speaks at a press conference. (File Photo) NEWARK — A former executive at a Fort Lee bank accused of stealing more than $1 million from her employer surrendered to the FBI on Tuesday, U.S. Attorney Paul J. Fishman said. Miye "Karen" Chon, 34, of Englewood Cliffs, allegedly stole more than $1 million from customer certificate of deposit accounts at BankAsiana by transferring money into the bank's vault cash account and physically removing the cash from the vault, documents said. Chon worked at BankAsiana until its acquisition by Wilshire Bank in October 2013. As an operations officer and later an assistant vice president, Chon had access to to customer accounts, as well as the bank's internal account records, computer system and vault, documents said. She avoided detection by ensuring that funds were transferred back into the CD accounts before they matured, documents said. Chon embezzled money dozens of times, taking tens of thousands of dollars at a time, up to as much as $100,000, documents said. Wilshire claims the scheme cost more than $1.4 million. Wilshire investigated after a customer found discrepancies in tax forms and account records. The bank traced the unauthorized transfers to Chon, documents said. Chon faces up to 30 years in prison and a possible $1 million fine, plus restitution. Wilshire Bank filed a lawsuit in March accusing Chon and Suk Joon Ryu, former chief operating officer of BankAsiana, of taking part in the scheme. Both have denied the accusations, the Record reported. Myles Ma may be reached at email@example.com . Follow him on Twitter @MylesMaNJ . Find NJ.com on Facebook .