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Step by Step: How Elon Musk Built His Empire (by Anna Vital)“The next Bill Gates will not build an operating system. The next Larry Page or Sergey Brin won’t make a search engine. Tomorrow’s champions will not win by competing ruthlessly in today’s marketplace. They will escape competition altogether, because their businesses will be unique.”– Peter Thiel in “Zero to One” In the bookZero to One, prominent entrepreneur and investor Peter Thiel shares his vision on what it takes to create an extraordinary company. Specifically, Thiel believes that instead of making incremental upgrades to an existing product or service, a company must aim to do something completely new to avoid ruthless competition. While Thiel has worked with many impressive people over the years, Thiel points to Elon Musk as a particularlysuccessful memberof the Paypal Mafia that has gone “zero to one” many times. THE RÉSUMÉAt only the…

Father of Citibank executive accused of bank fraud defends son

Here's more news about Francis Bryan Ang who was reported to have stolen millions from Citibank Binondo.

MANILA, Philippines - Manila 3rd district Councilor Bernie Ang on Monday defended his son Francis Bryan Ang, former executive of Citibank who was accused of bank fraud, and stressed that “he is not guilty and not in hiding.”

In a statement, Ang guaranteed that his son will face all the accusations “unjustly hurled” against him at the proper time and forum.

Ang’s statement came in the wake of reports that Francis is “wanted” for having “stolen” millions of pesos from the bank’s rich Chinese-Filipino clients.

“How could he be wanted when there is yet to be a preliminary investigation and no arrest warrant has been issued against him?” the councilor said.

Ang said that while his son now fears for his life for going against a big, multi-national company, he gave assurance that Francis is ready to talk about what he knows to prove his innocence.

Bryan Ang, a former assistant vice president for the Citigold Wealth Management unit of Citibank Binondo branch, was charged with allegedly running off with millions from wealthy Citibank depositors.

Ang said that Francis “is a powder keg ready to explode anytime kaya inunahan siya (so they jumped the gun on him).”

Before his son was accused of duping rich bank clients, Ang said Francis made known to his superiors his disappointment over some alleged bank “anomalies” and threatened to expose the same before the media if nothing is done about it.

He said that his son’s supposed uncovered anomaly came out in the open even before an investigation could start.

Ang said normally, banks would keep everything under wraps since issues like this will create a bad impression and will scare off bank depositors.

The councilor said that rich Chinese-Filipinos, such as those mentioned as sources, would not dare go out in public and expose their wealth.

He expressed doubts about reports that the other complainants would not come out in the open as they are yet to be paid by the bank.

Ang noted that under Central Bank regulations, a bank is mandated to pay its clients should they be victimized by any of its employees, whether or not they come out in public.

He also revealed receiving threats through his cellular phone after releasing the statements.

He said that he received a text message around 10 a.m. yesterday asking what he and his son are planning to expose.

“Ano ang balak ninyo i-expose ni Francis? Magdahan-dahan kayo baka di kayo tumagal (What are you and Francis planning to expose? You should slow down lest you don’t last),” said Ang quoting the text message.

He said he is trying to track the number of the texter, although he doubts if it came from Citibank itself.

Ang said he suspects that the text message must have come from someone who will be adversely affected by his son’s supposed exposé.


Full story at Philstar.com.

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