Guyana- Two Banks and a Bartica gold dealer

Two local Guyanese banks (GBTI and Citizens Bank) are involved in a breach of procedure costing one of the banks (GBTI) hundreds of millions of dollars. Saddiqi “Bobby” Rasul deposited local (Citizens Bank) cheques valued at GYD$900M (US$4.3M) with another local bank (GBTI). Staffers apparently effected payments without first allowing the cheques to go through the clearing process and the cheques unfortunately bounced.

A senior manager with GBTI has since been fired and the customer’s accounts have been closed by both banks.


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