We found some serious problems in how testbank has been handling money. The bank is majority owned and operated by Bharat, and under his policy, large amounts of money were directly moved from TestBank to RBI Bank. Normally, if such a transfer is needed, the right way would be to give it as a loan so that everything stays recorded and safe for customers. Instead, the money was just shifted directly, which put customer deposits at risk.
Later, we discovered that funds connected to Home Depot were affected. This is the only confirmed case so far, but there could be more people or companies whose money was caught up in this. Once the issue was uncovered, Bharat started moving money back from RBI Bank into TestBank. But this created another problem: people who had deposited their money in RBI Bank may not know that their funds were taken out and sent to TestBank, and from there even to Home Depot’s account. None of this was ever disclosed in public, so depositors and investors were kept in the dark.
Another big concern is that TestBank isn’t owned only by Bharat. There are other co-owners too, and it’s unclear if they even knew about this policy of moving money directly between banks. If they didn’t know, then their investment and net worth may also have been put at risk. If the transfers were done properly and transparently, the movement of funds could have been easily tracked, but instead it was hidden.
This is not the first time Bharat has done something questionable. In the past, he launched an IPO for a public company by first putting money from his personal account into the company. After the IPO, he pulled money back into his personal account. The worry here is whether that money was really his own, or whether it could have been money taken from the bank and other depositors.
These details are visible in the financial records of the public company.
We found some serious problems in how testbank has been handling money. The bank is majority owned and operated by Bharat, and under his policy, large amounts of money were directly moved from TestBank to RBI Bank. Normally, if such a transfer is needed, the right way would be to give it as a loan so that everything stays recorded and safe for customers. Instead, the money was just shifted directly, which put customer deposits at risk.
Later, we discovered that funds connected to Home Depot were affected. This is the only confirmed case so far, but there could be more people or companies whose money was caught up in this. Once the issue was uncovered, Bharat started moving money back from RBI Bank into TestBank. But this created another problem: people who had deposited their money in RBI Bank may not know that their funds were taken out and sent to TestBank, and from there even to Home Depot’s account. None of this was ever disclosed in public, so depositors and investors were kept in the dark.
Another big concern is that TestBank isn’t owned only by Bharat. There are other co-owners too, and it’s unclear if they even knew about this policy of moving money directly between banks. If they didn’t know, then their investment and net worth may also have been put at risk. If the transfers were done properly and transparently, the movement of funds could have been easily tracked, but instead it was hidden.
This is not the first time Bharat has done something questionable. In the past, he launched an IPO for a public company by first putting money from his personal account into the company. After the IPO, he pulled money back into his personal account. The worry here is whether that money was really his own, or whether it could have been money taken from the bank and other depositors.
These details are visible in the financial records of the public company.
I’m open to your suggestions, for me sending money seemed like my only option I forgot loans existed.
We found some serious problems in how testbank has been handling money. The bank is majority owned and operated by Bharat, and under his policy, large amounts of money were directly moved from TestBank to RBI Bank. Normally, if such a transfer is needed, the right way would be to give it as a loan so that everything stays recorded and safe for customers. Instead, the money was just shifted directly, which put customer deposits at risk.
Later, we discovered that funds connected to Home Depot were affected. This is the only confirmed case so far, but there could be more people or companies whose money was caught up in this. Once the issue was uncovered, Bharat started moving money back from RBI Bank into TestBank. But this created another problem: people who had deposited their money in RBI Bank may not know that their funds were taken out and sent to TestBank, and from there even to Home Depot’s account. None of this was ever disclosed in public, so depositors and investors were kept in the dark.
Another big concern is that TestBank isn’t owned only by Bharat. There are other co-owners too, and it’s unclear if they even knew about this policy of moving money directly between banks. If they didn’t know, then their investment and net worth may also have been put at risk. If the transfers were done properly and transparently, the movement of funds could have been easily tracked, but instead it was hidden.
This is not the first time Bharat has done something questionable. In the past, he launched an IPO for a public company by first putting money from his personal account into the company. After the IPO, he pulled money back into his personal account. The worry here is whether that money was really his own, or whether it could have been money taken from the bank and other depositors.
These details are visible in the financial records of the public company.
