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Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'

 
Sleeping Giant
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05/09/2012 02:27 PM

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Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
The global banking giant HSBC is a “criminal” operation, charges a former officer for the company’s southern New York region in a video interview with WND.

John Cruz, a former vice president and relationship manager, has turned over to WND more than 1,000 pages of documents, including customer account ledgers for dozens of companies through which, he charges, the financial institution was laundering money each month.

Cruz told WND that as a relationship manager, it was his responsibility to look up various accounts in the HSBC computer system and visit the account holders in person to offer additional banking products and services.

“I pulled these documents because I thought they were evidence of suspicious activity taking place,” Cruz affirmed when presented by WND with various HSBC computer ledgers of customer accounts. “These same documents I brought to bank security and my managers in the bank.”

To his surprise, HSBC management and security did not welcome his reports of suspicious activity.

“My managers told me I was crazy and I didn’t know what I was talking about,” he said. “They told me it was none of my business what goes on in transactions. But that’s my job.”

WND showed Cruz the HSBC account ledger for a business named United Express, as seen redacted in Exhibit 1 below: (see link)

Cruz charges that the 1,000 pages of customer account records suggest HSBC relied on identity theft to capture legitimate Social Security numbers that were then used to create the bogus retail and commercial bank accounts through which employees systematically deposited and withdrew hundreds of millions of dollars on a daily basis, apparently without the knowledge of the identity theft victims.

“When an individual finds out they got a loan they never knew about, 5 percent of that loan went to the accounting firm that made up the phony tax returns, and the other 95 percent of that loan went to the manager,” he said.

“One manager was involved in the transaction, another manager was involved in notarizing the transaction, and senior management was involved where they signed off permission to give the loans even when the loans get rejected by underwriting.”

Cruz told WND he recorded meetings he conducted with HSBC management and bank security personnel in which he charges various bank managers were engaging in criminal acts.

“I have hours upon hours of voice recordings, ranging from bank tellers, to business representatives, to managers, to executives,” he said. “The whole system is designed to be a culture of fraud to make it look like it’s a legalized system. But it’s not.”

Cruz explained that even when he let bank managers know he was taping the conversation, the managers were not interested in what he was saying.

“HSBC is a criminal organization,” he stressed. “It is a culture of crime.”

See the complete interview at link-

[link to www.wnd.com]
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22

Wake up, oh sleeper, and rise from the dead, and Christ will shine on you
Anonymous Coward
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05/09/2012 03:04 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
Me n my other found out last night PNC bank has been doing this to us. We are not in debt, or have statements coming to our door, but it finally explains why our credit score keeps bleeding bit by bit, month by month.
Anonymous Coward
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05/09/2012 03:12 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
that's cool. when their stock plummets we should bail them out.
in5d

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05/09/2012 03:24 PM

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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
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Sleeping Giant (OP)
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05/09/2012 03:24 PM

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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
5starbumptard
 Quoting: in5d


Thanks!

hf
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22

Wake up, oh sleeper, and rise from the dead, and Christ will shine on you
Sleeping Giant (OP)
Army of the Chosen One

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05/09/2012 03:25 PM

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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
that's cool. when their stock plummets we should bail them out.
 Quoting: Anonymous Coward 1158188


Ha!


Deja vu
"And I know that when I leave savage wolves will come in among you and will not spare the flock. Even from your own number men will arise and distort the truth in order to draw away disciples after them. So be on your guard. We are not the wolves at the gate, we are the ones who face them."

And ye shall be hated of all men for my name's sake: but he that endureth to the end shall be saved. Matthew 10:22

Wake up, oh sleeper, and rise from the dead, and Christ will shine on you
LifeInDeath

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05/09/2012 04:18 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
This sort of thing has been going on a long time, I'm sure. I think it used to happen to one of my own old accounts when I was a Maryland National Bank customer (my first account set up by my parents when I was a child, actually). When I was first working in high school and during college (late 80's, early 90's), I'd often go to deposit my meager minimum wage pay checks, check my balance and see thousands of dollars in my account balance that shouldn't have been there (or I'd see it before I deposited it). I'd go back to check a day later and the extra money would be gone and I'd have my proper balance in there again. I figured people were making money disappear in the system by moving it around and then erasing the electronic paper trail. I never lost money because of this, but I always found it odd and rather shocking.

It might have even been done automatically, with a secret worm program in the system. Maybe the worm keeps moving money around so it's invisible to the system, but it can also reconstitute all the money in hundreds or thousands of accounts when the fraudster wants access to it. They might have also been sucking a few pennies off of accounts, a few here, a few there, but do that from everyone's account and you suddenly are making a ton of money and most people won't notice a thing.

(MNB eventually got bought out by NationsBank, which then bought/became Bank of America.)

Last Edited by LifeInDeath on 05/09/2012 04:19 PM
Her lips were red, her looks were free,
Her locks were yellow as gold:
Her skin was as white as leprosy,
The Night-Mare LIFE-IN-DEATH was she,
Who thicks man's blood with cold.
- Samuel Taylor Coleridge,
"The Rime of the Ancient Mariner"
Anonymous Coward
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05/09/2012 04:33 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
Wow, if this is true how long will he be around to tell the tale. And I wonder if any of these accusations will be acted on.
Anonymous Coward
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05/09/2012 04:33 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
Wow, if this is true how long will he be around to tell the tale. And I wonder if any of these accusations will be acted on.
Anonymous Coward
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05/09/2012 04:36 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
SHOKING.................
Anonymous Coward
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05/09/2012 04:37 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
that's cool. when their stock plummets we should bail them out.
 Quoting: Anonymous Coward 1158188


Once the Canadian house market bubble crashes, they will be bailed out. disgusting
Anonymous Coward
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05/09/2012 05:36 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
The global banking giant HSBC is a “criminal” operation, charges a former officer for the company’s southern New York region in a video interview with WND.

John Cruz, a former vice president and relationship manager, has turned over to WND more than 1,000 pages of documents, including customer account ledgers for dozens of companies through which, he charges, the financial institution was laundering money each month.

Cruz told WND that as a relationship manager, it was his responsibility to look up various accounts in the HSBC computer system and visit the account holders in person to offer additional banking products and services.

“I pulled these documents because I thought they were evidence of suspicious activity taking place,” Cruz affirmed when presented by WND with various HSBC computer ledgers of customer accounts. “These same documents I brought to bank security and my managers in the bank.”

To his surprise, HSBC management and security did not welcome his reports of suspicious activity.

“My managers told me I was crazy and I didn’t know what I was talking about,” he said. “They told me it was none of my business what goes on in transactions. But that’s my job.”

WND showed Cruz the HSBC account ledger for a business named United Express, as seen redacted in Exhibit 1 below: (see link)

Cruz charges that the 1,000 pages of customer account records suggest HSBC relied on identity theft to capture legitimate Social Security numbers that were then used to create the bogus retail and commercial bank accounts through which employees systematically deposited and withdrew hundreds of millions of dollars on a daily basis, apparently without the knowledge of the identity theft victims.

“When an individual finds out they got a loan they never knew about, 5 percent of that loan went to the accounting firm that made up the phony tax returns, and the other 95 percent of that loan went to the manager,” he said.

“One manager was involved in the transaction, another manager was involved in notarizing the transaction, and senior management was involved where they signed off permission to give the loans even when the loans get rejected by underwriting.”

Cruz told WND he recorded meetings he conducted with HSBC management and bank security personnel in which he charges various bank managers were engaging in criminal acts.

“I have hours upon hours of voice recordings, ranging from bank tellers, to business representatives, to managers, to executives,” he said. “The whole system is designed to be a culture of fraud to make it look like it’s a legalized system. But it’s not.”

Cruz explained that even when he let bank managers know he was taping the conversation, the managers were not interested in what he was saying.

“HSBC is a criminal organization,” he stressed. “It is a culture of crime.”

See the complete interview at link-

[link to www.wnd.com]
 Quoting: Sleeping Giant


HSBC was founded as an opium smuggling operation, selling drugs to the Chinese, with the help of the British govt who forced the Chinese govt to accept the drug imports at gunpoint in the 19th century.
Anonymous Coward
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05/09/2012 05:39 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
This is is like blowing the whistle on the space shuttle for leaving our atmosphere.
Anonymous Coward
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05/09/2012 05:41 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
NEWS FLASH!!!!!! ALL BANKS ARE CRIMINAL ENTERPRISES!!!!
Anonymous Coward
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05/09/2012 05:42 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
No shit!
Anonymous Coward
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05/09/2012 05:44 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
And they just got bought by Capitol One.
Anonymous Coward
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05/09/2012 05:53 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
I thought all banks were criminal enterprises...?
Ilana

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05/09/2012 05:56 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
I suspect most giant banking groups are criminal enterprises.

Come on, according to a UN official, the entire global financial system was prevented from collapsing entirely because of all the drug money being laundered.
FraudulentZodiac

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05/09/2012 06:05 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
Great stuff as always SG!

We all know its coming down, the rats have been jumping ship for months now.

Its our time now!


Banking System

=
kaboom
"All energy flows according to the whims of the Great Magnet" - Hunter S. Thompson

"None are more hopelessly enslaved than those who falsely believe they are free." - Johann Wolfgang von Goethe

We are all just ins inside the out, and outs inside the ins.
InCogNeatOh

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05/09/2012 06:09 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
The British elite families continued their drug trade control after the Opium Wars.

Using sections of the international intelligence community for lower level operations, they created HSBC for the drug trade money laundering and stashing.

Even Lyndon LaRouche figured all this out, as evidenced in the book his organisation funded, called "Dope, Inc".

When you get that much drug money, you have no alternative but to set up banks to handle it.

Don't hold your breath that anything will happen to HSBC though, because the cancer spread into the other banks long ago.
Ilana

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05/09/2012 06:17 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
The British elite families continued their drug trade control after the Opium Wars.

...
 Quoting: InCogNeatOh


The term 'British elite families' is meaningless. Those families are all intermarried with other European royal families - Italian, German, etc...

Look any of them up and you'll see. House of Windsor were German, Princess Di was from Italian noble lineage, etc...
shenandoah
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05/09/2012 06:40 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
The government and corporations are all criminal now. Corporatism is unconstitutional, it deprives INDIVIDUALS of our Rights.
Anonymous Coward
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05/09/2012 07:11 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
Glad I don't even have a bank account. Deon't nee done and why would I want one, so the banks can turn my 5 grand into 50 grand to loan out??? Pffff - Can;t wait till Jesus Comes to Kick their freeking asses!
CultivatingMass

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05/09/2012 07:16 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
yup lies upon lies thats how this biz works right now

the house of cards has been falling since 2008 and here we are 4 years later... hard to believe its already 2012
Anonymous Coward
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05/09/2012 07:19 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
HSBC = HOLY SHIT! BRITS are CROOKS!
Anonymous Coward
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05/09/2012 07:20 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
Why am I not surprised.
Eat the Rich
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05/09/2012 07:21 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
This fits with the 15 Trillions Lord Blacksomething story, which just got an extension the other day, but it was about RBS mostly.
Anonymous Coward
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05/09/2012 07:33 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
This fits with the 15 Trillions Lord Blacksomething story, which just got an extension the other day, but it was about RBS mostly.
 Quoting: Eat the Rich 15687863


Lord Blackheath, and HSBC was involved in those transactions. Not surprised about this at all, but it's not just HSBC that pulls that stuff, I'm sure that goes on elsewhere too.
Eat the Rich
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05/09/2012 07:49 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
This fits with the 15 Trillions Lord Blacksomething story, which just got an extension the other day, but it was about RBS mostly.
 Quoting: Eat the Rich 15687863


Lord Blackheath, and HSBC was involved in those transactions. Not surprised about this at all, but it's not just HSBC that pulls that stuff, I'm sure that goes on elsewhere too.
 Quoting: Anonymous Coward 15779899


No, what a name alone, he wasn't involved.
He brought some remarkable documents to the attention of the house.

It sounded like something that happened on another planet, I can't wait to see whats gonna come off of it. Scratch.
FraudulentZodiac

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05/10/2012 01:16 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
HSBC = HOLY SHIT! BRITS are CROOKS!
 Quoting: Anonymous Coward 12707504


clappa
"All energy flows according to the whims of the Great Magnet" - Hunter S. Thompson

"None are more hopelessly enslaved than those who falsely believe they are free." - Johann Wolfgang von Goethe

We are all just ins inside the out, and outs inside the ins.
Anonymous Coward
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05/10/2012 01:22 PM
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Re: Former Exec Whistleblower: BANKING GIANT HSBC 'A CRIMINAL ENTERPRISE'
HSBC = HOLY SHIT! BRITS are CROOKS!
 Quoting: Anonymous Coward 12707504


that's right, tar us all with the banker brush.

makes PERFECT sense, that does.

did we REALLY need a fucking WHISTLEBLOWER to tell us these banks are criminal organisations?

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