To add to the list of frauds and scams Rs 400 crore fraud at Citibank''s Gurgaon branch have surfaced, taking the total number of such entities to about 40..
see link for more details
http://in.news.yahoo.com/citibank-fraud-more-investors-surface-complain-police-20110110-055700-651.html
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I was actually stunned to know this and posted the news with na intention that others also don't know about this fraud..
It is shocking to see a top company in banking section for negelecting its reputation.. :(
Such frauds occur due to some weak or corrupt links in the bank or any other organisation. If everyone does his/her part carefully , such frauds will be less at least.
year 2010 was full of fraud's and large amount caused a huge inflation in our country and what a year it was and hope these of allegations never happen in future.
Rajani K wrote:
[quote]I was actually stunned to know this and posted the news with na intention that others also don't know about this fraud..
It is shocking to see a top company in banking section for negelecting its reputation.. :(
Can you ever trust standard organization now...[/quote]
all companies are ultimately managed by individuals whose character matters. As investors, we should be careful to deal only in the office premises in due course and not outside. We should be caution when any unusual benefit is offered or there is any unusual feature.
G. K. Ajmani Tax consultant http://gkajmani-mystraythoughts.blogspot.com/
Some time back in saw a forum post where a bank is setting interest based on numerological figures . it tells us that how they are playing with public.
