FACTS:
Spouses Cabamongan opened a joint and/or foreign currency
time deposit in favor of their two children with Citibank. On a material date,
a person who claimed to be Carmelita sought the pre-termination of the account.
She presented identification cards to ascertain her identity to the then
account officer. When she left with the money, she left an identification card.
She filled up the necessary forms for pre-termination of deposits with the
assistance of Account Officer Yeye San Pedro. While the transaction was being processed,
she was casually interviewed by San Pedro about her personal circumstances and
investment plans. Since the said person failed to surrender the original
Certificate of Deposit, she had to execute a notarized release and waiver
document in favor of Citibank, pursuant to Citibank's internal procedure,
before the money was released to her. The release and waiver document was not
notarized on that same day but the money was nonetheless given to the person
withdrawing. The transaction lasted for about 40 minutes.
After said person left, San Pedro realized that she left
behind an identification card. The account officer then called up the address.
The spouses and their family knew of the incident. They were presently residing
in the US
