12 December 2009

KingCast says California AG Edmund Brown concurs in press release: Sam Shaulson's Citibank is a scum-sucking $14M rat thief.

Actually, I have posted on this before but now here it is straight from the Source, a link to the Press Release and Settlement Decree.
Atty. General Brown Forces Settlement with Citibank: Investigation Reveals Bank Was Stealing From Its Customers

California Attorney General Edmund G. Brown Jr. today announced that he has reached a settlement with Citibank after a three-year investigation into the company’s use of an illegal “account sweeping” program. Nationally, the company took more than $14 million from its customers, including $1.6 million from California residents, through the use of a computer program that wrongfully swept positive account balances from credit-card customer accounts into Citibank’s general fund.

“The company knowingly stole from its customers, mostly poor people and the recently deceased, when it designed and implemented the sweeps,” Attorney General Brown said. “When a whistle blower uncovered the scam and brought it to his superiors, they buried the information and continued the illegal practice.”

In July of 2001, a Citibank employee uncovered the practice and brought it to the attention of his superiors. The employee was later fired for discussing the credit sweeps with an internal audit team. In the words of a Citibank executive, "Stealing from our customers is a business decision, not a legal decision." The same executive later said that the sweep program could not be stopped because it would reduce the executive bonus pool.

Almost every multinational banking scam involves Citibank. I've been listing Enron, Ohio, California, Mexico, Russia and some of the others here and at Citibankisracist blog, but now here is yet another case closer to home and ongoing even. I have notified the authors of this 2009 Wall Street Journal story, "Citi, SEC Are in Talks to Settle Asset Probe." I'll tell you whose assets are getting probed: Those of the American Public if you catch my drift. They tried to run this game on me but it has totally backfired. One finger toward me, three back at them and their hater posse.

As I've said -- and as Attorney Edmund Brown concurs -- they are scum-eating rat liars, crooks and THIEVES.

2 comments:

Christopher King said...

Well Sam, enjoying your virtual tour of the First Amendment?

It's so real it's almost as if you were in the game itself, isn't it?

-The Editor.

Christopher King said...

As with the sweeps scam your client made another "business decision" to fight me, whatever man I'm just sharing your client's corporate culture with the Free World, you should feel honored that I would take the time. See when I operated sweeps accounts as a Licensed Title Insurance Producer that was LEGAL for us to keep the interest in disbursements. I hope the distinction has ummm.... registered with you.

Get it?

Register, ha ha that's your weekend funny.

Anyway, shall I send you the bill for the promotional services?

When you can pay me we can set up an offshore account in the Cayman Islands.

Let's do it :)

-Christopher King, J.D.