Mellon/Citizen Bank Complaint - Ambushing Customer - Line of Credit
DELAWARE -- Be careful and read each and every word and understand the meaning of it in a contract for line of credit.
From long time Mellon bank was after our Corporation to open a secured line of credit which the Corporation declined. In January 2000, Bank manager called and inform that a unsecured line of credit (secured with Corporation asset only)will be opened. While opening the line of credit, bank manager sticked in a paper related to personal guarantee. Corporation later declined the line and did not withdraw any money from this line of credit.
Several weeks later, someone from Mellon headquarter called to inform that the line of credit is unsecured and corporation can start withdrawing the money. Due to some scam artist, Corporation was scammed for several hundred thousands of dollar resulted default of payment. In the mean time, Mellon sold the scandalous division to Citizen Bank. Citizen bank demanded money from the Corporate officials who had to pay as all the Judicial authority is on Bank's under the table payroll.