A German bank manager who secretly transferred money from wealthy customers to the accounts of customers in serious debt has been given a 22-month suspended sentence.

The court ruled that the 62-year-old woman, dubbed a modern day Robin Hood by the German media, did not have to serve time behind bars as she did not benefit personally from the illegal transactions.

Between 2003 and 2005 she transferred a total of 7.6 million euros from various bank accounts. She returned some of the money to its rightful owner, but because some of the poorer customers remained in debt, over one million euros was lost for good.

The woman has since been fired from her job as bank manager and reportedly is now living in poverty herself.