Latest update November 21st, 2024 1:00 AM

Guyana's largest selling daily and New York's most popular weekly

Latest News

Global financial crisis prompts customer to check account…Discovers millions missing from fixed deposit

Sep 26, 2008 News

Officials of a foreign-based commercial bank are baffled at the disappearance of millions of dollars from the account of a Guyanese customer.
The fraud was discovered last week Friday at one of the bank’s Georgetown branches, and the officials are reportedly calling in a Trinidadian expert to assist in their investigation.
Kaieteur News understands that the persons involved in the scam forged documents which indicated that the Guyanese customer had taken a loan amounting to over $9M.
The customer was reportedly informed that the loan was disbursed in tranches, one of which went to an unnamed city cambio. The man, who declined to be named publicly, told Kaieteur News that a large sum of cash was wired to his bank account from overseas some months ago.
He withdrew about half of the amount and left $8 million in a fixed account.
According to the customer, he became concerned about his deposit following the recent financial upheavals in the United States, which led to the collapse of some major banks.
He said that because his account was in a foreign-owned bank, he became concerned that this account might also be in jeopardy.  His worst fears were confirmed when he visited the bank last week Friday and an official informed him that he had taken a large loan that exceeded his deposit in the bank.
The distraught man said that the bank officials even showed him forms which he had allegedly signed for the transaction. He said that the signature shown to him were not his.  According to the customer, he was told that the cash was withdrawn in two installments and that one installment was made out in the name of a cambio establishment.
Kaieteur News was told that the persons who took the loan in his name have already begun to repay it.
“They are telling me that my account has been frozen until they bring in an expert from Trinidadian to investigate,” he said. The expert is reportedly due next Monday.
The customer emphasized that he never took a loan from the bank and has given the bank managers an affidavit to that effect.  Meanwhile, his account has been frozen until the investigation is concluded.
Since this matter came to light, the local bank has been discovering other irregularities, particularly in the loans department, according to a source close to the bank.

Similar Articles

The Glenn Lall Show | November, 20th, 2024

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

 D-Up Basketball Academy Training camp brings Hoop Dreams to Life with Region 3 Jamboree

 D-Up Basketball Academy Training camp brings Hoop Dreams to Life...

Nov 21, 2024

Kaieteur Sports – The D-Up Basketball Academy is gearing up to wrap its first-of-its-kind, two-month youth basketball camp, which tipped off in September at the Tuschen Primary School (TPS)...
Read More
Campbell Eyes Eighth Men’s Physique Title in Final Amateur Outing

Campbell Eyes Eighth Men’s Physique Title in...

Nov 21, 2024

Alphonso, Fung-a-Fat, Munroe among top performers as Stena Drilling Junior Skill Level Tournament concludes

Alphonso, Fung-a-Fat, Munroe among top performers...

Nov 20, 2024

Guyana’s finest Physiques to battle for Glory at Mr. Guyana National Seniors Championship

Guyana’s finest Physiques to battle for Glory...

Nov 20, 2024

CWI names West Indies Test Squad for home series against Bangladesh

CWI names West Indies Test Squad for home series...

Nov 20, 2024

Georgetown romp to 292-run win over Select XI 

Georgetown romp to 292-run win over Select XI 

Nov 20, 2024

Features/Columnists

  • Bureaucracy gone bananas!

    …Peeping Tom kaieteur News- Every morning, the government wakes up, stretches its arms, and spends one billion dollars... more

Publisher’s Note

Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.

Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]