Drugb posted:antabanta posted:Drugb posted:antabanta posted:And when a large withdrawal via power of attorney lands before a bank CEO, what should the CEO do?
Standard operating procedure in the financial industry is to take due diligence measures. Contact the owner of the account and get a confirmation, either face to face or via other secure methods using either the email/phone on file as well are reach out to the attorney representing the owner.
Where is this recorded as SOP? Isn't the purpose of a power of attorney because the owner isn't available? Why does an officer of any institution need to reach the grantor?
Being in the financial industry I can speak with a level of knowledge on this issue. Once a red flag is raised, standard investigations must proceed. At 350K US, a simple phone call to grantor would have revealed this fraud. I am not sure why you are defending this fraud, maybe you were on the receiving end of the proceeds. Of course these question can only be answered by NBS, this is why Arjoon was dismissed. But he got off because they NBS didn't have the policy documented as part of SOP. This does not mean he is not guilty, but rather exploited a loop hole. Now he gets to cash in on an amount close to 1/2 a million us dollars.
Anyone who calls your BS gets one label or another. Now you arbitrarily decided I'm a thief.
All the questions have been asked and answered. The three wrongfully dismissed managers were long since exonerated -- during Jagdeo's reign. The fact is, and there is ample evidence, that Jagdeo orchestrated the dismissal of Arjoon, et al, to gain control of NBS so he can get funding for the bridge. This is not debatable. There is no global standard operating procedure for powers of attorney. The purpose of a power of attorney is to authorize a third party to act on behalf of the grantor. It is a legal document, witnessed and registered. There is no reason to question it. If your extensive experience can provide documentation of global laws concerning SOPs for powers of attorney that proves Arjoon's culpability, please provide them. Otherwise, you're simply maligning a good man to support your thief of a president.