John Cruz, author of the just released
World Banking, World Fraud: Using Your Identity, worked for the one of the biggest banks in the world and discovered they were using customer accounts to launder billions of dollars for international drug cartels, terrorists and other nefarious crime organizations. When he reported the abuse, he was told the bank had "set aside" billions to pay the federal fines associated with this activity.
His book, and pending lawsuit to recover this whistleblower fees, rips the face off one of the largest financial institutions in the world and follows the trail of corruption all the way to the top of the heap at the bank. The complicity amongst many layers of the organization were obvious as a culture of corruption had taken hold.
Here is a short description of the book in John Cruz's own words from his website at www.WorldBankingWorldFraud.com
It isn't everyday that you get to see a major international bank engage in bank fraud and money laundering on a massive scale, but this was my experience at HSBC. I had worked at HSBC for nearly a year before I was placed over a different set of branches in Suffolk County, NY. What I found in these branches was an intertwined web of deceit and outright fraud that had implications up into the higher echelons of the company.
When I reported the fraud I found to my supervisors I was effectively silenced, at times I was locked out of the computer systems. I was eventually fired. But this was not before I fully documented how a major international bank abuses their power and funnels great sums of money through multiple accounts in their local branches while using a culture of corruption to frighten and compromise otherwise law abiding employees.
I came forward because it was my job as a senior business relationship manager to maintain and develop relationships with our small to medium customers. But what I learned as I went forward in my job was that many of these customers did not actually exist; or their companies were using fraudulent tax IDs, stolen Social Security Numbers and fraudulent tax documentation.
The sums of money that channeled through their accounts were far too large for people at the bank not to know what was happening, and as I began to press the topic up the chain of command not only did I receive death threats, but I learned the names of those within the bank who were both enabling and committing fraud and money laundering on a massive scale. I was up against a culture that turned even otherwise good employees against me, but I wouldn't allow the crimes to go on with my tacit approval. I had to speak up.
World Banking World Fraud will expose the lies and secrets that I discovered and hopefully bring to light the crimes of a bank that believes it's above the law. This is a bank in fact whose own internal auditors told me had two billion dollars set aside to pay the fines handed out by the federal government so that their crimes would never actually see the light of day. After all, when you funnel multiple billions of dollars every year, two billion in fines is just the cost of doing business.
About John Cruz
John Cruz worked his way up the corporate banking ladder from a small Credit Union (where he should have stayed) to HSBC only to learn that sometimes telling the truth and upholding the law can ruin your life.
When Cruz began discovering money laundering, bank fraud and identity theft at HSBC his American Dream was over. World Banking World Fraud is an insider's story that exposes how an international bank launders money and covers its tracks. WBWF exposes the truth of how banks like this destroy their own employees who get too close to the truth and protect themselves from the United States government.
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