I took out a business loan for $400,000 from East West Bank in 2007. The loan was granted by K.Y. Cheng and Peter Ramirez. One year later when the payments were made timely, I was up for review and extension. Peter Ramirez approached me and indicated that if I would give him $5000.00 to buy a car for his wife, he would get the loan extended.
When I refused, I was hammered with notices that the loan was due and payable in full. Shortly afterwords, I expressed these facts to K.Y. Cheng Vice-President of the bank. He asked that I participate in a conference call with his in house Attorney and the head of Human Resources. I complied with all questions asked and the very next day Peter Ramirez was fired from the Bank. Mr. Cheng refused to discuss the matter further.
The reason I felt the need to report this is because after reviewing the internet for others that were injured by this bank, I found nothing. I am filing a report with SARS and FDIC and other investigative agencies in order to bring justice to this banks ethical, moral and lending practices.
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