From life as a young orphan to the American dream to a corporate nightmare of fraud and money laundering. John Cruz is a survivor. In his new book, World Banking World Fraud, Cruz describes his extraordinary rise from poverty to inside a world bank where he uncovered and documented the systemic fraud and money laundering that eventually led to his termination. Cruz first became aware of the fraud in 2009 when he was named vice president; senior business relationship manager (SBRM) over some of HSBC’s highest producing branches on Long Island. There he learned that managers at HSBC were so effective because they were establishing fraudulent accounts. He discovered and documented multiple phantom businesses with active accounts but was explicitly told by management to forget what he saw. Cruz recently said of the fraud, : What I realized quickly was that this wasn’t a one-time thing, or the activities of a few people. What I found at HSBC was systemic and international, I wrote my book, World Banking World Fraud, because no company should be above the law, no matter how big it is or how much money it has.
World Banking World Fraud
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About the Author
John Cruz was orphaned at an early age. He was taken in by grandparents in Brooklyn, and then by relatives on a farm in Constable, New York. After graduating high school and serving time in the military, he matriculated at Dowling College where he graduated in 1990 with a bachelor's degree in accounting. He was first hired by the Pan Am Federal Credit Union and then by the Long Island Federal Credit Union where he worked for many years before being recruited by HSBC in January 2008. In the spring of 2009 as the vice president, senior business relationship manager at HSBC, he was placed over several high performing branches in the New York Metro area. Shortly thereafter he began finding evidence of fraudulent activities within the bank. He turned his findings into the proper channels but met serious resistance from the chain of command. He was soon threatened by both managers and clients. As he continued to uncover repeated instances of fraud that extended over multiple branches and across borders, he began keeping a file as proof of his discoveries. In February of 2010, Cruz was terminated by HSBC and immediately began making preparations to take his findings public. World Banking World Fraud is the product of over a year’s work, and is the first in what will be a larger expose on illicit practices prevalent in the banking industry.
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Most Helpful Customer Reviews
16 of 17 people found the following review helpful
By ted
Format:Paperback|Amazon Verified Purchase
"I had only held this position for a little over a month,and it was already a nightmare."
So begins this "who done it", which is a biography of sorts, but reads like a detective novel. From the first sentence, you want to know, "what was the nightmare". I couldn't put the book down. Page after page, "what happens next", "who done it". Into the wee hours of the night i had to keep reading till all my questions were answered. It is simply an extremely well written book.
I haven't given credit to the substance, the content, the subject matter. Again, the book is as much about the author, his unbelievable childhood and "pulling himself up by the bootstraps", as it is about what he discovered. But,what he discovered is a whole other story, within this story.
The world of banks and their conduct is on the front pages every day. This book adds another chapter to the daily barrage of banks being fined hundreds of millions of dollars, of the 800 local banks that have failed, of the insiders who passed information and are now going to jail. Hopefully it will promote another investigation of yet another "institution". The author contends he has the support to his claims of a variety of apparently illegal activities. His story is very compelling. I hope it promotes the needed investigation.
So begins this "who done it", which is a biography of sorts, but reads like a detective novel. From the first sentence, you want to know, "what was the nightmare". I couldn't put the book down. Page after page, "what happens next", "who done it". Into the wee hours of the night i had to keep reading till all my questions were answered. It is simply an extremely well written book.
I haven't given credit to the substance, the content, the subject matter. Again, the book is as much about the author, his unbelievable childhood and "pulling himself up by the bootstraps", as it is about what he discovered. But,what he discovered is a whole other story, within this story.
The world of banks and their conduct is on the front pages every day. This book adds another chapter to the daily barrage of banks being fined hundreds of millions of dollars, of the 800 local banks that have failed, of the insiders who passed information and are now going to jail. Hopefully it will promote another investigation of yet another "institution". The author contends he has the support to his claims of a variety of apparently illegal activities. His story is very compelling. I hope it promotes the needed investigation.
9 of 11 people found the following review helpful
By Jack
Format:Paperback|Amazon Verified Purchase
I LOVE this book! Could not put it down either. As a former HSBC employee I believe every word of it. Well done John Cruz!
9 of 11 people found the following review helpful
By LIJay
Format:Paperback|Amazon Verified Purchase
What the world needs to know about banks and fraud. I cound not put in down not for a moment.
Most Recent Customer Reviews
5.0 out of 5 stars
Enjoyed this book!
Based on true events a riveting account of fraud in the international banking system and the reluctance of officials to address the problem. An excellent read.
Published 6 months ago by Michelle Kobzeff
5.0 out of 5 stars
A Decent Man Exposes Indecent Corp Banking Practices that would send...
Couldn't stop reading this book. Mr Cruz presents an amazing account of World Banking, identity fraud and money laundering in a culture where breaking the laws and paying the fines... Read more
Published 11 months ago by joeyman9
1.0 out of 5 stars
Delusional???
This book oozes public envy, woe-is-me and self-pity at its finest. The most it expresses on the grand scale is a mere irate employee turned postal. Read more
Published 16 months ago by Irene Spinner
1.0 out of 5 stars
Trying to cash in on public fear
The author is quick to point fingers at HSBC and talks about fraud, but then uses legit companies for their services to promote his book online, only to turn around and issues... Read more
Published 18 months ago by Mr. Sivertson
5.0 out of 5 stars
A Tornado of Hard Knocks and Hard Truths
This book kept me wide eyed from the start. From the blatant neglect which stole his youth, to a banking system that
neglects the common threads of human decency with it's... Read more
neglects the common threads of human decency with it's... Read more
Published 18 months ago by Horan
