Taiwan - Arrest made in $1.6 million PO savings heist

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A former post office clerk has been arrested in Taipei in connection with the theft of almost NT$40 million (S$1.6 million) in postal savings belonging to the town hall and residents of a small island five years ago, police said yesterday.

Ho Ping-huei, who was then a clerk at the post office of Tungying in Matsu County, allegedly stole NT$20 million from the town hall's savings account, and a total of over NT$17 million from the accounts of 150 residents, police said.

Ho was filling in for the post office's manager who was on vacation when the theft occurred in October 2006.

Police said all the money was remitted to an account belonging to Ho's wife and relatives on Taiwan's main island. The money was then withdrawn.

The manager returned to work to find that both the money and Ho were missing, police said, adding a warrant for his arrest was later issued.

Following his arrest five years later, the 46-year-old Ho divulged that he committed the crime to pay off heavy debts incurred from illegal futures trading in the black market, police said.

But the suspect refused to reveal the whereabouts of the money, the police said, adding the court has already ordered that Ho be detained.

Tungying, which lies close to China's southeastern coast, serves as a small military base. The post office, with a staff of less than 10 people, is the only public facility on the island that offers savings services.

Ho was also involved in a motorcycle theft case, for which another warrant for his arrest was issued in 2006.

Police investigating a gang of motorcycle thieves nabbed him on Friday in the streets of Taipei, and later found that he was also involved in the postal savings theft.

Police said cash of more than NT$10,000 was found on the suspect when he was arrested.