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Mellon/Citizen Bank Complaint - Ambushing Customer - Line of Credit

Review by lou gupta on 2009-02-28
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.
Comments:11 Replies - Latest reply on 2009-03-01
Posted by spiderman2 on 2009-02-28:
How did they force you to open a line of credit? If you don't want it, you don't sign the papers.
Posted by tnchuck100 on 2009-02-28:
I got the "Once upon a time..." and the "...lived sadly ever after". But there seems to be a lot in between missing. Or is it just me?
Posted by Nohandle on 2009-02-28:
I'm a bit confused on your complaint. First you speak of a contract, then an unsecured line of credit and finally a scam artist who took several hundred thousands of dollars. Care to clarify?
Posted by Anonymous on 2009-02-28:
Citizens Bank merged with Mellon in 2002. A bit late to complain about a bank that no longer exists. I say move on, nothing more to see here.
Posted by Anonymous on 2009-02-28:
I guess I am like the rest, I couldn't make any sense out of this post.
Posted by jktshff1 on 2009-02-28:
If this review is written as well as the "corporation" is handled, I can understand the problems the "corporation" is having.
On second thought, this may not be a US corporation and the language barrier (ie poster's translation) might have something to do with it.
Posted by DigitalCommando on 2009-02-28:
My tee chers did not learn me bout all this financial stuff so I would recommended that you secure a collateralized dibenture trust with negative yield margin calls.
Posted by tnchuck100 on 2009-02-28:
I just did a little checking on this poster. He has made two other posts about E-trade. They were incoherent as well.
Posted by Anonymous on 2009-02-28:
tee chers

LOL!!
Posted by jktshff1 on 2009-02-28:
does Nigeria come to any one else's mind?
Posted by lou gupta on 2009-03-01:
Being executives of several small Corporations (dealing with construction projects, high tech development projects, residential development and others) was very busy. It was my mistake that I did not review Banks papers and signed loose construction contract papers (about five hundred pages and drawings) on a construction project due to time constrained and solely depended on Bank Manager assurances who was paid commission for lending money out and others. Projects were spread with in two hundred miles radius. Bank wanted Corporation to open a secured line of credit but we did not agree. We were embushed by false promises which turned out to be inaccurate.

What I have listed is a very brief story of a unimaginable true long story. Large and small lawfirms,suppliers, bonding comany, other financial advisors , judges etc. are all part of a systematic scam ganged together against a person.
If any one of you is a book writer, I can provide you documented facts for this unthinkable events that took place in this free country. I have been in this country from the last fifty years and have gone thru a lot because of my honesty and will not be afraid to sound alarm if see something wrong. One of the Superior Court Judge asked Bank Counselor to take away our (defense) document,to introduce as Bank's (Plaintiff) document in a mysterious circumstances in order to favor the bank. All Court people in the court were stunned to see this.

I appreciate all the comments but these are true events.

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