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.......

[bender]

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

A bit OT but I went to this street to get to Tayhua, a known photography supply store. I could understand how that branch can get a lot of high money clients. It's practically next door to Divisoria. It's also one of the most crowded streets I've been to. Never going back again there.

[chua_riwap]

Update.....




http://newsinfo.inquirer.net/inquire...w-shiny-things

Ang’s father, Manila Councilor Bernie Ang, told the Inquirer that his son was being persecuted in an effort to prevent him from exposing purported irregularities in the American banking giant.

“There is a concerted effort to destroy him because Bryan was about to expose something he could not take...He was about to reveal those things and told the management about what he found wrong in the system, and they jumped the gun on him,” the father said.

In a statement issued Friday, Citibank said it was looking into “questionable” transactions initiated by a wealth management executive suspected to have swindled some depositors of its branch in Binondo, Manila.

Ang, 36, was not named in the statement. But banking sources confirmed it was he, and said he was believed to have slipped out of the country.

“We have filed criminal and civil cases against him, supported by his own admissions and very strong documentary evidence. We are working closely with the relevant authorities who are assisting us in this matter,” Citibank said.

Fear for his life

“Bryan is hiding, not because of the charges, but because he is scared for his life. He knows and is ready to reveal a lot of things,” the father said, adding:

“Why is he being vilified and crucified at all cost?”

The councilor cited claims where his son was accused of distributing fake certificates and withdrawing a client’s money.

“How was Bryan able to do that without the bank knowing?” he said. “The central bank (Bangko Sentral ng Pilipinas) conducts an audit every year. Citibank does an audit every year. The bank authenticates certificates. Don’t tell me they did not notice right away and only recently found out?”

The councilor pointed out that Ang had been with Citibank for 10 years and was a consistent winner of international awards as its top solicitor. “Why are they persecuting him now? Is it because they are hiding something?”

Irony

The councilor said Ang had realized that his wealth management job at Citibank was not doing the country any good because he was siphoning money abroad.

Early this month, Ang decided to inform Citibank of his misgivings—a move, the father said, that brought trouble for his son.

Ironically, the father said, Citibank issued a letter to its clients last month that it was to deal with Ang, but reportedly withdrew the letter this month after his son expressed his misgivings.

“They might have been scared of the exposé that Bryan was planning to do. Their intention now is to discredit him at all cost even if it makes the bank look stupid,” the councilor said.

He observed that the bank usually kept an issue like this under wraps but had surprisingly publicized it in Ang’s case.

“He is doing this (exposé) for the country,” the councilor said, adding that his son was open to testifying in a congressional inquiry should legislators decide to conduct a probe into Citibank’s alleged anomalies.

Isolated case

In its statement, Citibank said the employment of the person in question had been terminated.

“Although the investigation is still ongoing, we believe this is an isolated case, and we are taking all necessary measures to protect our clients,” the bank added.

It also said it had identified a “small” number of affected clients.

“We are reviewing these accounts, and our priority is to work closely with these clients to ensure a satisfactory outcome,” it said. With a report from Doris C. Dumlao

[shakatak70]

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?

eto sir, lumabas na..

http://business.inquirer.net/money/b...inondo-clients

[SIZE=3]US banking giant probes swindling of Binondo client[/SIZE]s


By Doris Dumlao
Philippine Daily Inquirer
First Posted 16:45:00 08/20/2010

Filed Under: Economy and Business and Finance, Banking, Crime


MANILA, Philippines – American banking giant Citibank is investigating some "questionable" transactions initiated by a wealth management executive suspected to have swindled some clients of the foreign bank's Binondo branch.

"We have filed criminal and civil cases against him, supported by his own admissions and very strong documentary evidence. We are working closely with the relevant authorities who are assisting us in this matter," Citibank said in a press statement Friday.

The statement did not name the executive but banking sources said it was someone named Brian Ang, who was believed to have slipped out of the country as of posting time.

Citibank said the person has been terminated from his employment.
"Although the investigation is still ongoing, we believe this is an isolated case, and we are taking all necessary measures to protect our clients," the bank added.

The bank said it has identified a "small" number of affected clients.
"We are reviewing these accounts and our priority is to work closely with these clients to ensure a satisfactory outcome," the bank said.

Tama ka shadow....anak nga ni konsehal.

[chua_riwap]

O di ba......wala na sa Pinas ang kumag.

[tidus1203]

Guys an idiot (that Brian Ang)... Obvious naman he won;t get away with it... Dealing transaction using banks is a sure way to get caught...

[uls]

kung accurate yung kwento ni shadow that the guy has gambling debts, he must have transferred clients money to the account/s of those he owes money to

OR

if he doesnt have gambling debts, he only wanted to accumulate a retirement fund hehe

he tranferred clients money to an account overseas which he created

[uls]

from the article:

American banking giant Citibank is investigating some "questionable" transactions initiated by a wealth management executive suspected to have swindled some clients of the foreign bank's Binondo branch.

The bank said it has identified a "small" number of affected clients.

syempre small number

wealth management yan eh

the guy is a private banker

small number of clients pero malaking amount handle niya

---

if the guy is working in Citibank's Citigold Wealth Management, each client has at least $100,000 there

[shadow]

Guys an idiot (that Brian Ang)... Obvious naman he won;t get away with it... Dealing transaction using banks is a sure way to get caught...

the banker was desperate, alam niyang mahuhuli siya but since he needed the money BADLY, kapit na sa patalim...

puntahan na lang ng CITIBANK yun *bleep* restaurant sa Adriatico baka andoon lang nagtatago yun....

masama pa rin loob ko sa CITIBANK...balcony 2 lang ang binigay sa akin na tickets ng CATS musical.... buti nga sa kanila barat kasi eh...

[pup2]

the banker was desperate, alam niyang mahuhuli siya but since he needed the money BADLY, kapit na sa patalim...

puntahan na lang ng CITIBANK yun *bleep* restaurant sa Adriatico baka andoon lang nagtatago yun....

masama pa rin loob ko sa CITIBANK...balcony 2 lang ang binigay sa akin na tickets ng CATS musical.... buti nga sa kanila barat kasi eh...

Ako naman when I was young(er) and still struggling, I got their CC thinking it could help. Ayun, 1 day pa lang late maririndi ka na sa phone calls. Tapos pag lagpas pa dun, ang taas taas ng interest.