Choice Bank of Belize faces liquidity problems

#105

I contacted the law firm above also corey silverstein. On gfy there was a post that corey silverstein started a lawsuit.None of the one mentioned above is up for a lawsuit.Wtf?? It is worthless...belize lawyers aren t even interested. I wonder why..corruption maybe in that shithole of a country.
I am going to contact a law firm from NY on monday.
 
#107
All this is happening because of the money laundering act, the start was given in 2015, now it's just implemented.
There are hundred of thousands of accounts under investigation, accounts blocked and others have only cards blocked, they are searching and centralize a gazillion amount of data to detect money laundering systems and persons who opened accounts using fake data.
Welcome to the new world order era, no more anonymity just full control and sadly but very true bad things will follow in the next years.
The people that are moved on the white lists will receive their money using wired transfers method, the others after identification will know what to do after they will receive their citations.
It's a very complex investigation:
Something like, all ATM's use cameras and all the people have ID's emitted by their countries, if you don't know after 2004 all countries members of the G 20 (REPLACED G 8), when they make photos for the ID's the system also make a biometric profile, etc etc bla bla, too much to write.
Also searching for ghost companies that used this method to move money off-shore/on-shore, the bank employees are forbidden to say anything while the investigation, that's why not even the Caporaso & Partners law firm of Panama couldn't provide more info.
Inform yourself about G 20 and EU directive 2015/849.
So no worry, the clean ones will receive their money back after investigations.
 
#111
The Central Bank of Belize revokes the Choice Bank’s license

The Central Bank of Belize decided to revoke Choice Bank Limited’s license, in what has turned out to be an unexpected movement that has caused serious problems for account depositors, since Choice has ensured that, starting July 2, it will allow cash withdrawals to be made from its customers’ accounts.

The determination of the Central Bank of Belize, made known by the Governor Joy Grant, was produced six months after Choice bank’s problem began. During this period, the institution in charge of regulating the Central American country’s financial sector hasn’t adopted any measures!

In statements published on the central Bank’s YouTube channel, Grant clarified that, with the revocation of its license, the Chie Bank could no longer make international bank negotiations. According to this official, a routine control of the Choice Bank made by the Central Bank at the end of 2017 revealed weaknesses in operations and violations of international banking laws. In April of 2018, Choice Bank’s problems increased, when its licenses for activities linked to pre-paid cards were suspended. At the time, Choice Bank suspended withdrawal of cash deposited account holders.

According to Grant, starting from that moment, the Central Bank of Belize has received an enormous amount of e-mails, with complaints about Choice, made by customers of said bank, but THEY DID'N’T DO ANYTHING. Some even threatened to adopt legal means (the Caporaso & Partners firm). Choice Bank couldn’t present a plan that showed their intentions and capability to resolve this situation to the Central Bank. At the beginning of this week, auditors of the Central Bank entered the offices of Choice Bank to demand information that they hadn’t been able to deliver previously, Ms. Grant, the bank governor pointed out. We now have to wonder why the bank governor decided to take measures only after six months and why did she put the bank in liquidation instead of curating it. She wouldn’t be going to place her friends in the bank to make the account holders’ money disappear, now would she? If there was no action by the Central Bank of Belize during the six months of the Choice Bank’s crisis, why do we have to believe that now they’re doing it in good faith?

After analyzing the data shared by the Choice Bank, the Central Bank of Belize concluded that the actions taken by the Choice Bank’s proprietors and management weren’t sufficient to correct the situation; nonetheless, obviating Choice’s communications where it indicated to its customers that, from July 2, it would have enabled access to their assets. Then, the Central Bank decided to revoke its license and named a “liquidator”, Harry Hassel, who would be supported by a team of assessors, who would probably have eaten up a big part of the assets.

This “liquidator” will have complete power over Choice Bank’s administration. After liquidating the Bank’s assets, Hassel will distribute these assets in a supposedly “fair and reasonable manner” according to legal priorities, Grant concluded, who also clarified that the financial sector of Belize will continue t be as strong as ever.

However, the truth is completely different. The Central Bank of Belize’s little transparent way of acting has aroused strong criticism in the international community and among account holders. The manner in which it proceeded with the Choice Bank aroused many doubts about the banking sector in Belize and will undoubtedly result in a decrease of investors’ trust because of the obvious lack of legal guarantees in this country. We hope that the government will take action and liquidate the governor Grant who has sown herself incapable of complying with the legal functions of the Central Bank.
 
Reactions: W4rhol and blizz
#112
It's good they regulate this bank but on the other side it was a banking option which we don't have now!
 
#113
Grant tells a lot of BS. The bank was ready to restart with sound plans according to an insider. On Monday July 2 every client was entitled to a withdrawal of 25 K to start with.

However, the bank was raided by 20 armed guards on Friday. Staff was held at blank gunpoint and forced to sign secrecy agreements. Management was fired. During Monday phone calls were not attended to and the same goes for mails. Grant and Barrow (prime minister) have turned this into a total chaos in just 1 day.

A YouTube clip was also posted online showing Grant while giving all arguments for the decision. 80% are lies. Information was not provided as she stated. The spokesman however told that information was provided on a daily basis as requested. During meetings with the Central Bank and the Prime Minister all plans for recovery were received with consent. Every time that happened a directive was to follow with measures to undercut these plans.

It is pretty clear the government of Belize has run out of USD cash after having been convicted to pay Lord Ashcroft according to another corporate raid they performed on BTL (Belize Telecom) Looking at Grant's 7 min lie where she states no other banks are affected (what a joke....take your money and run out of this country if you can) and the corporate financial affairs are in order the impression arises the government is out to raid another company to close the large holes they created in their budget.

Using physical power and threatening staff under blank gunpoint is an activity you would rather expect in Northern Corea. Barrows and his accomplice just do it. Also threatening to get already fired people with arm forces from their home is ridicolous.
 
Reactions: Nicolae Ciobanu
#115
I am not Mr. Caporaso but I can give you some advice. File a lawsuit immediately. Publish as much as you can so this gets into newspapers locally and worldwide. This could prevent the government from stealing depositors money.
 
#116
File a lawsuit against who? Choice or central? We are entitled to file a suit against fcp and choice only. I wonder what were their resons for revoking the license. What did they find? Must be something solid. I need to know that to make a judgement but no info is shared across the media.
 
#118
And we ll be stuck with Choice ...the same that didn t do s**t so far. I m at the point where i trust no one.There has been so many rumours online that i ended up working on this 20 h a day.We get the money, we get agreement, those who have less get all money then we all get 100%.Messed up my brain.
I agree with you that there might have been some violations..it s belize for god s sake!!
But obviously choice did something wrong .The liquidity sittuation in the first place is their fault then the whole management of this sittuation.Now central says they did something ilegall.
This time i can t choose sides. I m inclined to go for central. Choice had the power so far..let s see what central does.
Liquidation is such an awful process thou....We re fucked people!!!
 
#119
We can t do that informer until we know what has happened.What was the reason for the license to be revoked.
Central keeps it hidden, choice keeps it hidden.The media ...don t get me started on that!!!!
 
Reactions: negon
#120

EU Directive, this is a an EU rule shouldn't be forced on others. These people sadly to say have made billions over decades laudering money and supporting "legal crimes". Why have they subdued the Panama papers? These people are making it difficult for anyone that they don't APPROVE OF to make a comfortable life. I don't support terrorism or a any activity that directly harm individuals, so why can't I have some privacy? I would not focus on any of those Islands that were once used for a "colonial do" not saying that it no longer happens. British Virgin Island is next, I wonder why people open accounts there, the UK will soon pull reins, wait on Brexit effects.
 
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