Sydney banker 'stole and spent $7m on prostitutes'!

Melbourne, February 7 (ANI): A banker in Sydney stole 7 million dollars from his employer and allegedly spent most of the amount on prostitutes.

Sung Kyu Chung, a senior manager in the Korea Exchange Bank's Sydney office, pleaded guilty to nicking 7.2 million dollars from the bank by fudging records and staging at least 77 false transactions.

The 41-year-old was charged in 2008 after auditors noticed massive discrepancies in the bank's finances, reports News.com.au.

Chung apparently flew business-class flights to Thailand and stayed in five-star hotel rooms.

He was said to have splashed staggering amounts while showering high-priced prostitutes with expensive gifts including a Mercedes-Benz sedan. He also transferred money to another Bangkok call-girl to buy a house.

Chung is due to be sentenced later this month. (ANI)