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Chinese Student Gambles Away Stolen Money

19 November 2004

NEW ZEALAND – As reported by the New Zealand Herald: "Gambling was the downfall of a Chinese student who took part in a sophisticated bank-related swindle that gained $287,000.

"Xiang Wu Zhang, 24, was jailed for two years nine months by Christchurch District Court Judge David Holderness yesterday.

"He admitted conspiring to cause loss by deception, four counts of fraudulently obtaining documents, four of fraudulently using documents, attempting to use a document, 14 of causing loss by deception, and accessing a bank computer dishonestly.

"The judge said none of the money was left, all of it gambled at Auckland's Sky City Casino. A probation report noted the offending was skilful and the result of planning and fine-tuning.

"…In New Zealand to study English, Zhang got involved in heavy gambling which resulted in him borrowing money from an associate in Hong Kong.

"The associate persuaded Zhang to become director of a bogus organisation, and the offending all flowed from there, the judge said…"

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