John Cruz claims he was terminated from HSBC in 2010 after discovering, and subsequently refusing to ignore, repeated instances of fraud, money laundering and identity theft. He is now coming forward with his documented findings in his new book, “World Banking World Fraud, Using Your Identity.” (ISBN 146378659X)
Cruz first became aware of this fraud when he was named senior business relationship manager over some of HSBC’s highest producing branches in Long Island, N.Y. There, he learned that managers at HSBC were so effective because they were establishing fraudulent accounts. He says he discovered and documented multiple phantom businesses with active accounts, but was explicitly told by management to forget what he saw.
Cruz continued uncovering cases of blatant fraud. He claims his documented findings included falsified tax returns, identity theft, phony company creation, falsified notarized documents, illegal money transfers, wires, cash withdrawals and excessive loan charge-offs to straw companies.
“What I realized pretty quickly was that this wasn’t just a one-time thing or the activities of a few people,” Cruz says. “What I found at HSBC was systemic and international. I wrote ‘World Banking World Fraud, Using Your Identity’ because no company should be above the law, no matter how much money it has.”
Cruz claims he worked his way up the corporate banking ladder, only to learn that sometimes telling the truth and upholding the law can ruin your life. He believes that when he discovered money laundering, bank fraud and identity theft in a major international bank, his American dream ended.
As a whistleblower, he believes “World Banking World Fraud, Using Your Identity” is an insider’s story that will expose common practices of banks, such as how they launder money and cover their tracks. Cruz hopes his work exposes how banks can destroy their employees who get too close to the truth while protecting themselves from the government.
“World Banking World Fraud, Using your Identity” will be available at Amazon in mid-October.
SOURCE: World Banking World Fraud
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