Citibank Banker runs with MILLIONS ?!?

[ghosthunter]

I am hearing from the "grape-vine" more and more starting on Monday about a certain filipino-chinese banker from CITIBANK that ran with between P300M to over P1B depending on who you talk to.

I would assume this would hit the news by tonight or by the end of the week.

Anyone else heard more info on this?

[uls]

yep

ongpin branch daw

[tidus1203]

Ouch! But anyway barya barya lang yan para sa Ongpin branch of Citibank. That branch is probably the largest private bank in RP...

[Monseratto]

Walang Citibank sa Ongpin...probably you meant Binondo Branch in Sto Cristo across the church.

[tidus1203]

Yeah that one I suppose...

[chua_riwap]

He might be out of the country by now.......

[tidus1203]

Sigurado naman may money trail yan eh in how he transferred the money. The only way he can get away with money trail is by actually stealing physical money. P300M of P1000 bills anyone? The bank dosen;t even have that much physical paper I am sure...

[ghosthunter]

Sigurado naman may money trail yan eh in how he transferred the money. The only way he can get away with money trail is by actually stealing physical money. P300M of P1000 bills anyone? The bank dosen;t even have that much physical paper I am sure...

Electronic offshore bank account in the Cayman Islands?

[shakatak70]

Electronic offshore bank account in the Cayman Islands?

Or maybe in Cyprus

[vinj]

Should this be true, these types are probably not a one time big time thing and may have been accumulated and hidden over a span of time before he runs off and/or is discovered.

[tidus1203]

Electronic offshore bank account in the Cayman Islands?

Electronic transfer nga yung pinaka madali huliin eh... Pero kung sa Cayman Islands nga pahirapan yan, pero since crime naman ito and not private money mahuhuli din yan eventually...

[ghosthunter]

Electronic transfer nga yung pinaka madali huliin eh... Pero kung sa Cayman Islands nga pahirapan yan, pero since crime naman ito and not private money mahuhuli din yan eventually...

True. But from there it can be withdrawn or re-transferred to multiple secure accounts elsewhere and even converted to EURO, etc to make it harder to track.

Kinda like what they do in the movies.

All the guy needs is time. If he already planned it ahead of time, it will be difficult to find most of the money.

[tidus1203]

Basta if you have to go through banks to do your moves mahuhuli ka din. Even palit palitan mo pa ng currency yan lahat ng trades leaves paper trail...

[ghosthunter]

Basta if you have to go through banks to do your moves mahuhuli ka din. Even palit palitan mo pa ng currency yan lahat ng trades leaves paper trail...

Anyway, let us see what the news papers etc would report in the next few days.

[tidus1203]

In the old days one of the most popular way to launder money was to buy BEARER BONDS of a corporation.

What is a bearer bond, click HERE

Of course wala ng new bearer bonds because nga very easy way ito to launder money... Pero I know yung mga super long term bonds 50 years and such meron pa rin existing, meron pa ngang coupon yan eh that you tear to redeem your well coupon (or interest)...

[br733]

is this for real?

kahit na bvi, di ba there is some sort of disclosure needed as to owner or beneficiary? in this day and age may paper or electronic trail yan. there is no such a thing as a perfect crime.

any insiders from citibank care to share some info...?

reminds me of the performance / michael liew scam... they hired a financial detective and i think they were able to trace where the funds went to.

[niky]

So... bank run on Citibank? Eep. Mom keeps her savings there...

[CVT]

Oh wow! I just realized that!...

10.6K:horse:

[Monseratto]

reminds me of the performance / michael liew scam... they hired a financial detective and i think they were able to trace where the funds went to.

The investors in performance have yet to recover 1 cent of their money until now...They are trying to sue the bank (ABN-Amro) instead.

[shadow]

actually last month pa ito. the banker is anak ng isang Manila councilor. ang balita is natalo ng malaki sa casino sa Macau.

mga barkada kasi ng banker eh mga HK nationals meron mga resto sa Malate/Adriatico areas.

no biggie actually write off ng Citibank. what he did was all legit transactions daw kaya hinde nabuko agad, I just don't know the details kung ano exacto ginawa niya, I'll ask around and balita ko dito

eh kung sa orchestra binigay na tickets sa akin ng Citibank sa CATS eh hinde ako magkwento kaso balcony 2 lang binigay at sumakit ulo ko sa layo ng stage.:rofl: