Shao Lianhua, acting for a Citibank depositor, Jin Di, sued Citibank in Beijing for US$1.22 billion, including interest, according to a report in the Jiang Nan Times. Shao said that since he could not draw deposits and win the suit in the United States according to the state's law, he preferred to sue Citibank in China and get back the 60-year-old deposit.
Four deposit slips made up of gold and silver, issued on April 7, 1941 worth US$250 million, with "Special issued, irrevocable, no time limitation and valid for drawing from all branches worldwide" on their back. The depositor was Jin Di and the deposit place was Jin Cheng Dao branch, Singapore, transferred to Citibank New York.
The depositor, Jin, used to work for Zhou Xicheng, chairman of Guizhou province and an official of the Guizhou army, as a confidential secretary. Zhou deposited his gold, cash and personal effects in the names of 18 people in 1927,1928 and 1938, including Jin. Zhou transferred his funds totaling US$250 million to Jin and the transfer took place at Citibank. Citibank provided savings and deposit receipts. During World War II, Jin took refuge in a small village in South China. After the founding of the People's Republic of China, the United States froze Chinese capital in the United States, including Jin's capital.
Now Jin wants her money back, but Citibank in New York did not keep their promise to return the money in three months. Citibank explained that Citibank was then called another name and no record was found in the bank.
An American lawyer managed to prove that the deposit receipt was from Citibank and its Chinese name in Asia remains unchanged, especially in China, Hong Kong Special Administrative Region and Singapore, according to Shao.
Shao for the second time sued in a civil action to the U.S. Federal Court through law firm Auerbach & Kirsch on May 8, 1998, but failed again. A secretary in the law firm suggested Shao continue his suit in China.
Shao found a lawyer, Harve, who expressed his surprise that Citibank grew from a state bank into an international bank in a very short time. Harve agreed to help Shao but failed again due to the refusal to issue visa to Shao by the U.S. Consulate General in Shenyang.
After two failures in America, Shao decided to try to win his rights in the motherland--China.
Lawyers and financial experts from China University of Political Science and Law, Beijing, including Ying Songnian held a seminar and proved the reality and jurisdiction of the deposits.
A woman surnamed Guo from the public relations office of Citibank Shanghai branch said the material provided had problems.
However, Shao showed full confidence in winning the case. He believed that his work would bring economic benefit to China and he would win at last.
The case now arouses great interest among Chinese leaders. The surrogate lawyer said that relevant data has been collected and the results would soon be open to the public.
Similar deposits of many other people are still in the United States, and the success of the case will provide a basis for other cases.
(eastday.com 07/25/2001)
