PPP KINGDOM

PPP KINGDOM

CITIBANK HAS BIG PROBLEMS IN INDONESIA

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Bank Indonesia (BI) announced Friday it was imposing severe sanctions on Citibank following a massive embezzlement scandal by a bank employee and the suspected death of a customer at the hands of debt collectors recently. The bank possibly faces other sanctions if found guilty of the two crimes by a court.

http://blog.indahnesia.com/entry/201105080715/bi_imposes_harsh_sanctions_on_citibank.php

1) CITIBANK WEALTH MANAGER ACCUSED OF EMBEZZLEMENT + MONEY LAUNDERING ENTANGLES 50 OFFICIALS
The National Police are currently investigating a case of alleged embezzlement of client’s funds and have taken into custody the 47-year-old former Citigold wealth manager, who, according to the PPATK, used four different identification cards in her alleged embezzlement operation.

http://www.thejakartapost.com/news/2011/04/13/50-officials-suspected-money-laundering.html

2) FAMILY OF CITIBANK CUSTOMER FILE SUIT FOR DEATH AT HANDS OF CREDIT CARD DEBT COLLECTORS
The family of Irzen Octa on Thursday filed a Rp 3 trillion ($346 million) lawsuit against Citibank’s main headquarters in the United States.

“We’re suing Citibank in the United States because they are also responsible [for the death],” said a lawyer for the family, OC Kaligis.

Irzen died on March 29 after meeting with debt collectors hired by Citibank Indonesia in a private room at Citibank’s office at Menara Jamsostek on Jalan Gatot Subroto.

He was said to have been contesting how his Rp 48 million ($5,600) credit card debt, which had been delinquent since 2008, had more than doubled to about Rp 100 million.

Though there have been conflicting autopsy results on the cause of his death, police have named five suspects in relation to the suspicious death, all of them employees of third-party debt collectors hired by Citibank Indonesia. It has led the family to request a second autopsy.

http://www.thejakartapost.com/news/2011/04/06/irzen-%E2%80%98definitely-murdered%E2%80%99-citibank-branch-friend.html

http://www.thejakartaglobe.com/home/irzen-octas-family-files-rp-3t-lawsuit-against-citibank/435382

Best Regards,

FINANCIAL WARRIOR

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