Do you also have a bank account with Citibank Philippines? Do you also belong to one of several scammed clients?
The bank promised to fully reimburse clients allegedly duped duped by its former wealth management executive Francis Bryan Ang.
Citibank legal counsel Pia Pena-Lacson, in a press conference, said an investigation was still ongoing into the transactions handled by Ang, who was publicly identified by the bank for the first time as the employee who had conducted "questionable" (?) transactions.
Ang, who disappeared after the swindle was discovered, had confessed to "fraudulent" (?) activities. "Hay naku"... . As a court had yet to issue a warrant of arrest, Ang managed to go to hiding!
Ang, an assistant vice president for wealth management and son of Manila councilor, had swindled clients of the bank's Binondo branch by issuing them fake certificates of time deposit and mixing up adresses so the clients would not receive monthly statements of accounts.
The bank declined to give an estimate of the total amount involved. Why? i really have no idea.
2 comments:
Fortunately, I am not one of those Citibank clients who have a wealth management account with them. It's so suspicious how Ang could get away with huge amount of money, operating for several months without getting noticed (unless there's another accomplice or anyone with higher position protecting him). I know it's another scandal that only brings out what most banks in the Philippines lack and I can only hope and pray for those who were duped that they would get their monies back. I don't think this is PDIC insured though.
Hi Jonha, thanks for stopping by. I strongly agree with you....
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