Student ‘spends $1m on handbags’ after bank glitch

Christine Jiaxin Lee, 21, was arrested at Sydney Airport and she still allegedly owes £1. million to her bank after the money was transferred into her Westpac account.

Christine Lee has appeared in court, accused of a $4.6 million fraud after Westpac inadvertently gave her an unlimited overdraft facility.

An Australian court has granted bail to a Malaysian woman who withdrew more than A$4.6m (£2.3m) mistakenly made available to her by a bank.

Prosecuting attorney Marc Turner pushed back, saying Lee applied for the emergency passport within weeks of learning that a warrant had been issued for her arrest.

Christine Jiaxin Lee became an accidental millionaire after being given access to the funds by Westpac bank four years ago, when she was 18.

‘She was taken by immigration and will be held in detention at Villawood, ‘ a police source said.

According to a report via The Daily Telegraph, police allege that over a nine-month period, about $33,000 per week was sent to bank accounts with no connection to Westpac bank.

But Lee’s lawyer said she was simply going to visit her parents, who were unaware of her arrest in Australia.

“It’s not proceeds of crime, it’s money we all dream about”, Ms Stapleton said.

The court heard that she was aware police were trying to contact her and she obtained the passport.

Lee’s legal aid lawyer told the court her client had spent some A$1million on handbags, luxury items and some transfers while the other A$3.3 million remained outstanding.

Vincent King knew nothing of his girlfriend’s million-dollar windfall. She is also not allowed to apply for another passport.

Following her arrest at the airport on Wednesday night, Australian Federal Police transferred her into the custody of NSW Police, who took her to Mascot police station.

She is due to appear in court next on June 21.