ScotiaBank Mexico Murder

The CBC is airing a documentary on "The Fifth Estate" tonight that is about corruption in the Mexican banking system which may have lead to the murder of a ScotiaBank employee. 9PM Eastern (8PM our time) on Shaw Channel 300.

The first bunch of "usual suspects" that should be rounded up are the posters on this board who claimed they were deducted funds from their accounts without receiving the money at the ATM next to Domino's Pizza.  

LOL!!! ... and that would include me then. I was however able to "reclaim" those missing funds via my home bank 60 days later. I was, however, unable to reclaim the missing funds from a Scotiabank ATM in Magno Centro Joyeria.

I think you should remain silent until you consult an attorney. Motive is one of the keys for suspicion and....worse.  

OK, I will remain silent.

Ezzie wrote:The CBC is airing a documentary on "The Fifth Estate" tonight that is about corruption in the Mexican banking system which may have lead to the murder of a ScotiaBank employee.  9PM Eastern (8PM our time) on Shaw Channel 300.

The Murder and the Money Trail

After watching this show I certainly wouldn't be in a hurry to deposit any large amounts of money into Mexican Banks. While the focus was on Scotia Bank because of the Canadian connection, they insinuated that the Mexican Banking system, overall, is the most corrupt in the world and responsible for laundering over 1 TRILLION dollars in cartel monies. I suspect this is just one of many cases.

What I found interesting in the program was how poorly managed Scotiabank Inverlat was at the time this all took place. It is surprising to me that the parent company back in Canada (Scotibank) did not have better controls over it's subsidiary. Kind of makes you wonder about how safe ANY banks are.

Well I would trust that if my money was embezzled by bank executive's in Canada there would be some recourse. Not so much here........

According to a very good friend of mine, a manager at the main branch of Scotia in Vancouver, Scotiabank & Scotia Inverlat are related in name only.

http://www.scotiabank.com/ca/common/pdf/about_scotia/correspondent_mexico.pdf

Scotiabank, in the late 1990's just wanted to get in the lucrative and borderline criminal money "bouncing" that Bank of America was already up to it's neck in. The takeover of Inverlat assets was misleading, perhaps somewhat naive, because many of the assets were mortgages in deep foreclosure, very high interest rates and an increasingly intolerant public. The laws of bank seizure were also fairly new. A big mess.

CHILLIN wrote:Scotiabank, in the late 1990's just wanted to get in the lucrative and borderline criminal money "bouncing" that Bank of America was already up to it's neck in. The takeover of Inverlat assets was misleading, perhaps somewhat naive, because many of the assets were mortgages in deep foreclosure, very high interest rates and an increasingly intolerant public. The laws of bank seizure were also fairly new. A big mess.

yes,they all sat around the boardroom table on a foggy day on bay street and said: "hey,lets buy a mexican bank so's we can get into narco money laundering". you were obviously there chillun. what was yer position?

Some of us take an interest in world affairs while others sit around Stump Lake Alberta wondering what color boogers they are going to pry out their nose today.

http://www.pbs.org/wgbh/pages/frontline/shows/mexico/family/citibankaffair.html

CHILLIN wrote:Some of us take an interest in world affairs while others sit around Stump Lake Alberta wondering what color boogers they are going to pry out their nose today.

http://www.pbs.org/wgbh/pages/frontline/shows/mexico/family/citibankaffair.html

so tell me which part of your humongoose cut and past specifically refers to scotia bank. in other words, if yer such an expert on world affairs,unlike us know nadas,would you be so kind as to be specific so that we can attempt to be as knowledgeable as you-por favor. gracias.
i kinda like arbon's link to scotiabank.
by the way,i prefer reading the national post,globe and mail,edmonton journal,wetaskiwin times but never read the vancouver sun. and on occasion still read marketing magazine from time to time fer my edification while i'm picking my nose. the mining results are always green,which seems to be your favourite colour.

kiminmexico wrote:According to a very good friend of mine, a manager at the main branch of Scotia in Vancouver, Scotiabank & Scotia Inverlat are related in name only.

Well your friend knows less than they think. If you watched the documentary you would have seen the Canadian Scotia Bank communications officer getting interviewed about the incident. These two entities are very close indeed.

I thought that the Scotiabank "Communications Officer" they trotted out to put in front of the camera was a bit of an airhead. Surely Scotiabank in Canada could have done better. I think she made her employer look quite stooped.

What they kind of failed to make clear was that this incident happened over 12 years ago, shortly after ScotiaBank took majority control of the already corrupt Grupo Financiero Inverlat Bank. This crap was probably going on for years before.