Carlos was the service manager at Bank PHB. However, before he became the service manager, he was just a marketer at the bank. On one of his marketing sojourns, he met Mr. David Alvarez, a businessman and millionaire. Carlos while discussing with Mr. David, seized the opportunity to offer his bank’s services to Mr. David who showed keen interest, especially regarding the fixed deposit with great interest margins. Mr. David visited the bank and became a customer of the Bank PHB and indeed maintained a regular account No. 00012120012 with the bank at No. 7B Wetheral Road.

A year later, Carlos was promoted and made sure he became the accounts relationship officer to Mr. David.

In the course of their banking relationship, Carlos advised Mr. David to increase his existing fixed deposit to 50,000,000.00 (fifty million) each totaling 100,000,000.00 (one hundred million) with fixed deposit certificates numbers MKK0922S020 and MKK0922S021 issued respectively.

Mr. David received interest accruable from the fixed deposit accounts as it became due and then roll over the principal investment through Carlos.

These arrangements continued for another year until when Mr. David got partially incapacitated because of a stroke.

Carlos thereafter, in his official capacity ostensibly to the knowledge of Mr. David, decided and indeed started going to Mr. David’s business premise to take delivery of cash after daily sales from the business and sometimes would be instructed to pay some cash to business associates of Mr. David.

It’s been days since anyone has seen Carlos one of the staff of Mr. David complained. But then, they all assumed that he was either busy or indisposed hence the reason why he hasn’t come to take delivery of the cash to be deposited in the bank.

Two days after, one of the business associates of Mr. David a company called OLEM LLC. complained that money was not remitted to them for a transaction made with Mr. David, in which Carlos had supposedly delivered a deposit slip (a receipt of payment) to Mr. David. Mr. David, distraught and sickling, immediately instructed one of his staff to visit the bank directly. The staff got to the bank and protested to the bank who assured Mr. David through the staff that they would rectify the issue. Thereafter, the staff on her way out casually asked for Carlos the service manager of the bank, and was informed that Carlos had not reported to work for over a week.

She carefully, knowing the current state of Mr. David informed him of this development but the news of the disappearance of Carlos was too much for Mr. David to bear and the shock shut down the internal engines of Mr. David and caused him to be bedridden instantly.

The confused staff members of Mr. David argued as to whether to inform the only known family member of Mr. David, his daughter who was away in school abroad. Then one staff (Old Joe) was privileged to remember that there was a lawyer appointed by Mr. David who occasionally comes to the business premises and the members of the staff agreed to contact the lawyer. The lawyer was duly informed about the entire incident, and he promptly wrote to the bank demanding a status update on the accounts of Mr. David with the bank the bank in return denied the existence of the two fixed deposit accounts totaling 100,000,000.00 (One Hundred Million) and every other transaction between it and Mr. David for that matter.

Without wasting any time, the legal representative of Mr. David instituted a lawsuit, against the bank and the evasive Carlos.

In proof of their case, the legal counsel to Mr. David argued that the fixed deposit certificates given to Mr. David by the service manager, Carlos emanated from the bank and reflected the account number. He further argued that the conduct of the bank over the matter was tainted with fraud, negligence, and in breach of the fiduciary relationship, and obligations that they owed to Mr. David, by stating that the bank cannot claim to be unaware of the fact that Carlos who was an employee of the bank at the time, occasionally picks up cash to be deposited into the account of Mr. David as the deposit slip always reflected Carlos as the depositor.

In defending bank PHB, their legal counsel argued that before the bank can be held liable for the action of Carlos, it must be shown that he acted in the course of his employment. That the bank cannot be vicariously liable for the act of the service manager, Carlos done outside the scope of his employment.

He also claimed that Mr. David through his counsel never proved that any money was deposited into his account.

In deciding the matter that has spanned for over two years, the court finally read the judgment and held that besides the fact that in any banking transaction, every teller, slip, and document emanating from the bank in the course of its business is deemed the property of the bank, evidence was led to show that the account opening process was done inside the bank.

The court also held that the bank by holding out Carlos as not just its staff but a manager and knowing their manager occasionally performs the task of depositing cash on behalf of Mr. David, cannot be said not to be vicariously liable for the actions of the said manager.

The court ruled in favor of Mr. David and ordered the bank to pay Mr. David Alvarez the value of the two fixed deposits with interest at the rate of 14 % per annum.

Elated by the judgment of the court, the members of staff hurriedly went to visit Mr. David on his sick bed to deliver the good news. When they got to the 2nd floor of the hospital where his room was located, A nurse who noticed them had to quickly stop them from going further and quietly broke the news of Mr. David’s passing. He has gone to be with the lord said the elderly nurse. Within seconds, the elation in their faces was smirked away, and grief came to bear.

The most senior member of staff Old Joe eventually informed the only known relative of Mr. David, his daughter that her father had passed on.

A date for the burial was chosen and the day quickly came by. The entire room was filled with gloom as Mr. David was laid to rest. Afterward, the daughter of Mr. David was led to the car and driven off and every other person disperse to continue with their lives, but Old Joe stayed back to pay his last respect.

While sitting, Old Joe noticed a figure sobbing beside the resting place of the deceased Mr. David. As Old Joe drew closer to see who it was, he could tell immediately that that figure was Carlos soaked in his tears of regret with worn-out shoes and an indigent appearance. Old Joe smiled and walked away.