Customers Rush N.Y. Bank on Word of Mishandled Accounts
Hundreds of residents of Chinatown rushed a neighborhood bank Tuesday after it posted notices that a former branch manager was being investigated for alleged involvement in “account irregularity.”
Dozens of police were called in to control the crowd outside Abacus Federal Savings Bank. Customers were allowed in until the bank’s 4 p.m. closing time, when police used bullhorns to urge customers to come back today.
“Your money is safe inside the bank,” one officer announced, adding that the accounts were federally insured.
David Lee, Abacus’ assistant vice president of operations, said the bank was investigating whether the former manager improperly handled about 40 of its 20,000 accounts. Notices posted outside the bank said the FBI was investigating.
The notices said the manager was accused of omitting withdrawals, wrongfully crediting and charging accounts, and creating fake certificates of deposit and savings accounts.
The notices said the bank “expects to fully restore these accounts affected.”
Dozens of residents, many of whom did not speak English, remained outside after the bank closed, trying to decipher the notices.
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