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Citibank exec goes missing; millions stolen

lowbatt99 · 43 · 11752

Langerhans

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This is sad story. Imagine you are robbed in where you think the safest place for your money!


GoodSteward

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Father of Citibank executive accused of bank fraud defends son
By Sandy Araneta (The Philippine Star) Updated August 25, 2010 12:00 AM Comments (9) View comments

MANILA, Philippines - Manila 3rd district Councilor Bernie Ang on Monday defended his son Francis Bryan Ang, former executive of Citibank who was accused of bank fraud, and stressed that “he is not guilty and not in hiding.”

In a statement, Ang guaranteed that his son will face all the accusations “unjustly hurled” against him at the proper time and forum.

Ang’s statement came in the wake of reports that Francis is “wanted” for having “stolen” millions of pesos from the bank’s rich Chinese-Filipino clients.                   

“How could he be wanted when there is yet to be a preliminary investigation and no arrest warrant has been issued against him?” the councilor said.

Ang said that while his son now fears for his life for going against a big, multi-national company, he gave assurance that Francis is ready to talk about what he knows to prove his innocence.             

Bryan Ang, a former assistant vice president for the Citigold Wealth Management unit of Citibank Binondo branch, was charged with allegedly running off with millions from wealthy Citibank depositors.

Ang said that Francis “is a powder keg ready to explode anytime kaya inunahan siya (so they jumped the gun on him).”                         

Before his son was accused of duping rich bank clients, Ang said Francis made known to his superiors his disappointment over some alleged bank “anomalies” and threatened to expose the same before the media if nothing is done about it.                                               

He said that his son’s supposed uncovered anomaly came out in the open even before an investigation could start.

Ang said normally, banks would keep everything under wraps since issues like this will create a bad impression and will scare off bank depositors.

The councilor said that rich Chinese-Filipinos, such as those mentioned as sources, would not dare go out in public and expose their wealth. 

He expressed doubts about reports that the other complainants would not come out in the open as they are yet to be paid by the bank.

Ang noted that under Central Bank regulations, a bank is mandated to pay its clients should they be victimized by any of its employees, whether or not they come out in public.

He also revealed receiving threats through his cellular phone after releasing the statements.

He said that he received a text message around 10 a.m. yesterday asking what he and his son are planning to expose.

“Ano ang balak ninyo i-expose ni Francis? Magdahan-dahan kayo baka di kayo tumagal (What are you and Francis planning to expose? You should slow down lest you don’t last),” said Ang quoting the text message.

He said he is trying to track the number of the texter, although he doubts if it came from Citibank itself.

Ang said he suspects that the text message must have come from someone who will be adversely affected by his son’s supposed exposé.

____________________

Citibank....ayusin nyo gusot kasi kakahiya reputation nyo.....

I only patronize their credit card....... :grin:
« Last Edit: Oct 19, 2010, 06:07 PM by FutureGizmo »


barister98

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white collar crook. where do you think he got his college degree? well its from ___________.


tops5450

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dora_lakwachera

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tokzz

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@barister98, ano connection ng school nya?
« Last Edit: Oct 19, 2010, 06:08 PM by FutureGizmo »


waterfront

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i heard somebody joked na maybe daw, iyon ang subject na tinuro sa kanila.


yellowminded

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^really? that's a really funny joke ha. di siguro pumasa nagsabi nun sa upcat :)


bauer

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NellyW

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So what's the catch if the "supposedly culprit" guy passed the UPCAT?

I'm starting to smell some crab here :D


freefront

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^sumasali ba yang mga iskolar ng bayan sa stock trading contest, me financial planning course ba sila, me Entrep. course na ba, etc?

Sakyusme, ha? Intelligent people make monumental blunder because they are capable of it. Kung bobo yan, baka nag-uwi lang sya ng giveaway na payong. :D :D :D


Posted on: Aug 27, 2010, 12:31 PM


Ok din magpatakbo ang PRO nila ano? Patay na yata ang balita.


Pr1meBiz

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white collar crook. where do you think he got his college degree? well its from ___________.


U.P. (B.S Economics)


Posted on: Aug 27, 2010, 07:15 PM

Me pinagmanahan sa ....____________ :watchuthink:


Naging PROF niya kaya yung bumaba sa puwesto nung June 30.


freefront

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eh...the guy only admits to 2 counts of wrongdoing. Plus- it's not even 2 million.


lowbatt99

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We'll see how Citibank handles this.  If they don't make an example out of him then more like him will follow.  They're sending a message to every Citibank employee the punishment for grand theft is minimal.  For some of them, they'll think it's worth the risk.  To the depositors, they'll feel insecure and pull out.


happykill

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nakakapagtaka lang kung paano nakuha ni bryan yun money since alam ko tight ang security sa bangko. Hindi ka makakalabas ng pera basta basta. or there could be lapses in the transaction procedures within CITIBANK on which they allow their people to collect money outside the bank. Pero kung sabi sa news ay madami ang affected na clients, ang ibig bang sabihin nito eh matagal na nangyayari ito hindi lang napapansin ng client na wala yun pera nila sa bangko? just my opinion lang naman


 


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