DO NOT EVER USE AFRASIA BANK IN MAURITIUS

[rogers]

We deal in motor vehicles in South africa and we had 3 bank accounts with this Bank since 2019.
Last year during the month of October, to our biggest surprise, this bank shut down all of the 3 bank accounts
without even informing us or a definite reason why they closed.

These bank accounts are the company's monies. We had a battle with the bank officers but all they say
is that our bank accounts are undergoing compliance investigations!!!!!!.

But wait!, there are MORE, we came to learn that they have closed several offshore companies and blocked
all the money similar like they did to us.

Small bank in a tiny island, we are proud South africans and our honesty has been paid off by out by our clients
around the world. This bank has people with peanuts brain, all dicks who are thoroughly trained to rob your
hard earned monies.

NEVER USE THIS BANK, YOU WILL LOSE ALL YOUR LIFE!.
Roger.

 

[troubled soul]

Can you share more detail ?

Exact Word and your Profession .

How much money ?
Do you have invoice ?


How When Where wire transfer come in and out ?
Which country are your customer base ?
Which bank are you receiving wire transfer ?

Do you have some unusual activity with bank account ?

In my experience not with this particular bank , If you provide True document, there will be chance to Unfreeze your account ?

 

[troubled soul]

Do you contact your introducer ?
What they said ?

 

[James Turner]

This is not my experience of Afrasia Bank, who are normally very reasonable and sensible with the decisions they take. We have worked with Afrasia for many years and I have never experienced unreasonable actions on their part. Have you conducted an unusual transaction recently either inbound or outbound that differs from the norm for your business as this is generally the reason for a bank taking action like those described in your post.

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[troubled soul]

If you do google search about Mauritius Bank .
You find hardly any negative about Mauritius Bank.

You are the first one .

 

[Mark Rucken]

rogers said:
We deal in motor vehicles in South africa and we had 3 bank accounts with this Bank since 2019.
Last year during the month of October, to our biggest surprise, this bank shut down all of the 3 bank accounts
without even informing us or a definite reason why they closed.

These bank accounts are the company's monies. We had a battle with the bank officers but all they say
is that our bank accounts are undergoing compliance investigations!!!!!!.

But wait!, there are MORE, we came to learn that they have closed several offshore companies and blocked
all the money similar like they did to us.

Small bank in a tiny island, we are proud South africans and our honesty has been paid off by out by our clients
around the world. This bank has people with peanuts brain, all dicks who are thoroughly trained to rob your
hard earned monies.

NEVER USE THIS BANK, YOU WILL LOSE ALL YOUR LIFE!.
Roger.
Click to expand...

Did you get your money back?

 

[Martin Everson]

I get it that OP is upset at this happening and that right now he is spitting teeth over the situation he is in now. However I am pretty sure he has a good idea why it was closed. Banks don't close accounts for no reason.

rogers said:
Small bank in a tiny island, we are proud South africans and our honesty has been paid off by out by our clients
around the world.
Click to expand...

If you have to mention your honest then your probably not....just saying.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[LoveMyLife]

You shall hire a lawyer and open a case in a court againts that bank. The most of banks are heroes just in situation, when there are no huge costs involved. Once the huge legal costs are involved, they usualy wire money out to some your foreign account at least, and try to close a case silently as fast as possible.

No bank wants a publicity from a public trial or court hearing for illegal assets freezing.

 

[troubled soul]

Bank will close your account and asked to get the money out to your different bank account.
If you facing legal trouble with government ,If Government Asked the bank to freeze your account than and than your money will stuck .
Otherwise they simply close your account and ask remove your money from their system.

I am not Legal expert , It is my personal opinion .

 

[EliasIT]

Martin Everson said:
I get it that OP is upset at this happening and that right now he is spitting teeth over the situation he is in now. However I am pretty sure he has a good idea why it was closed. Banks don't close accounts for no reason.



If you have to mention your honest then your probably not....just saying.
Click to expand...

can't agree more with you.

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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.

 

[pesto]

James Turner said:
This is not my experience of Afrasia Bank, who are normally very reasonable and sensible with the decisions they take. We have worked with Afrasia for many years and I have never experienced unreasonable actions on their part. Have you conducted an unusual transaction recently either inbound or outbound that differs from the norm for your business as this is generally the reason for a bank taking action like those described in your post.
Click to expand...

I agree with the gentlemen I had no issues with this bank, you may have some shady business or hidden agenda OP!

 

[Alex002023]

I just found this thread.



As part of the legal team for a group of victims of this bank, I can personally attest to the fact that any of the posts in this thread that are defending this bank are very likely shills of Afrasia bank. I can tell by the mangled English and the sentence structure that is most likely a dishonest gentleman by the name of Neil Roy, who is the front facing guy at that bank.

Among many of its improper and potentially illegal business practices are deceitful investment instruments, poor customer service, illegally withholding client accounts, defying customer instructions to transfer funds and so on and so forth. One particular client that we are representing has a fund that has matured after a huge loss and the bank is making excuses and delaying the transfer of the remaining funds to the personal account. This particular client has retained legal counsel and will be pursuing civil and criminal actions against these perpetrators. Namely, Neal Roy and Stephanie Marimuthu, they have been making a litany of excuses, obfuscations and outright lies to not pay out funds to clients which is basically illegal and fraudulent.

No investor or account holder should deal with this bank. And anyone who defends this bank, let them identify themselves and what their occupation is because I am more than certain they're just simply a shill for the bank or an employee of the bank.

 

[Sols]

Alex002023 said:
As part of the legal team for a group of victims of this bank, I can personally attest to the fact that any of the posts in this thread that are defending this bank are very likely shills of Afrasia bank. I can tell by the mangled English and the sentence structure that is most likely a dishonest gentleman by the name of Neil Roy, who is the front facing guy at that bank.
Click to expand...

Don't know about the rest of you, but I'm convinced. This is definitely how a legal representative would conduct themselves in public, especially unprompted.

If your lawyers aren't calling anyone who disagrees with me shills in public, open discussion forums and engaging in ad hominem attacks against such people, what are you even paying for?

If there's one thing I can't stand for, it's differing opinions. Gotta be those shills.

Alex002023 said:
Among many of its improper and potentially illegal business practices are deceitful investment instruments, poor customer service,
Click to expand...

Not that I needed further assurance, but claiming that having poor customer service is potentially illegal is something I expect any half-decent lawyer I work with to pick up on. Customer support agents should be replying at whatever arbitrary timeline the client sets or they should be in prison.

Alex002023 said:
illegally withholding client accounts, defying customer instructions to transfer funds and so on and so forth.
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Sounds like an easy win. Godspeed! The courts of Mauritius are quite efficient, so you should have no problem winning this case.

Alex002023 said:
One particular client that we are representing has a fund that has matured after a huge loss and the bank is making excuses and delaying the transfer of the remaining funds to the personal account. This particular client has retained legal counsel and will be pursuing civil and criminal actions against these perpetrators. Namely, Neal Roy and Stephanie Marimuthu, they have been making a litany of excuses, obfuscations and outright lies to not pay out funds to clients which is basically illegal and fraudulent.
Click to expand...

It's completely normal for someone on a "legal team" to publicly post threats to sue bank staff and publish names like this. Only incompetent lawyers would keep such details private and take the matter to the relevant courts before discussing publicly.

Alex002023 said:
No investor or account holder should deal with this bank. And anyone who defends this bank, let them identify themselves and what their occupation is because I am more than certain they're just simply a shill for the bank or an employee of the bank.
Click to expand...

What's the name of your law firm? We need more no-nonsense lawyers like you helping us fight the injustices of the banking world through ad hominem attacks and publicly airing legal proceedings.

I hope for justice for your clients.

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This is the probably the answer to your question.

 

[cuno]

Sols said:
It's completely normal for someone on a "legal team" to publicly post threats to sue bank staff and publish names like this. Only incompetent lawyers would keep such details private and take the matter to the relevant courts before discussing publicly.
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😀thu&¤#

 

[csp dubai]

it isi funny some one stil use mauritius bank very funny, they the woerst service ever let hope they get shut down as soon as possible

 

[Alex002023]

I see the shills for afrAsia bank are up early today. Anyone with any common sense can easily see that these posts that so vigorously and adamantly defend the indefensible behavior of afrAsia Bank are indeed shills and or employees of the bank. With that said, I will next post exactly the situation with this bank. So the readers can determine for themselves how fraudulent this bank really is.




Afrasia Bank: Documented History of Misleading Investors and Indefinite Delays in Releasing Investors' Funds at Maturity


The Capital Protected Euro Bank Booster as marketed by AfrAsia Bank executives is affecting a significant cohort of investors. The projected benefits and guaranteed minimal returns appeared sound. The reality for these investors is that their capital was never protected; their capital was utilized as protection for a designated group of corporations and was subject to loss for the life of the product.

Furthermore, multiple serious allegations regarding have been leveled against the bank regarding withholding of client's funds even after the funds were matured and payment was due. This has created a panic amongst investors and account holders alike.

Mr. Ducler Des Rauches an investment executive with Afrasia is on record stating to investors that “The Capital Protected Euro Bank Booster (The Booster) is a 5-year product that offers 200% participation in the performance of the EURO STOXX Bank Index (SX7E Index).” He then specified the range the investor can anticipate by saying, “The Booster benefits from a minimum protected return of (Capital +8%) and a maximum protected return of (Capital + 28%).” Alex is specifically on record telling potential investors with a low-risk tolerance that, “The investor only participates in the positive performance of the index and is not exposed to the index negative performance.”

As subsequent history demonstrated these investors experience significant financial losses from this investment product and AfrAsia Bank executives never explained the true underlying mechanism. In this particular investment scheme, the capital provide by the investors was being used for a period of 5 years to protect a select group of corporate guarantors; the inverse of what these investors were led to think.

At maturity some investors have opted to transfer the remaining funds, but each request has been denied or delayed indefinitely by AfrAsia Bank.

According to one of the clients, Steaphnie Marimuthu a Customer Service Assistant with AfrAsia Bank was handling some of the transfer requests and informed clients that transfer directives were being discussed internally and no decision had been reach.

After additional delays, the client contacted Stephanie Marimuthu and she stated during the phone conversation that his funds had been approved and confirmation would be forthcoming that same evening. When nothing occurred as promised, the same client tried to reach Stephanie who was unavailable.

After over a week of delays by Neal Roy Head of Business Development with AfrAsia Bank the client was informed that the transfer was not approved, and the funds were never released.

To date AfrAsia Bank has failed to transfer or provide any reasonable expectation that funds will be released to their previous investors.
A legal representative for one of the clients has stated that “The previous conduct of AfrAsia Bank executives in their presentation of the investment combined with the recent history of refusal to honor clients transfer instructions at the maturity reveal a very disturbing and protracted pattern with multiple legal remedies that he is currently exploring.

 

[Sols]

Alex002023 said:
I see the shills for afrAsia bank are up early today.
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You bet. End of the month is when the shill checks clear.

Alex002023 said:
Anyone with any common sense can easily see that these posts that so vigorously and adamantly defend the indefensible behavior of afrAsia Bank are indeed shills and or employees of the bank.
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Absolutely, without a doubt. No question about it.

There are only two people in the world: those who agree with you and those who are paid adversaries out to get you. Don't let anyone tell you otherwise.

Neutral parties? Sceptical parties? Unconvinced parties? All shills financed by the adversary. Every. Single. One.

Alex002023 said:
With that said, I will next post exactly the situation with this bank. So the readers can determine for themselves how fraudulent this bank really is.
Click to expand...

Why do you feel like you need to waste your time convincing shills? You have an air tight case. You're clearly going to win this court case. The evidence is overwhelmingly in your favor. Restitution is right around the corner for your clients.

On the other hand, laying out the accusations and case against an adversary in a public discussion forum is what all good lawyers do. You want to make sure the adversary knows your strategy in advance. This is what they teach at all leading law schools and it's a mantra you hear in every law office worldwide.

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This is the probably the answer to your question.

 

[Alex002023]

Exclusive Report: AfrAsia Bank's Capital Protected Euro Bank Booster Fails lnvestors

lnvestors in AfrAsia Bank's Capital Protected Euro Bank Booster are feeling the pinch after the
product's projected benefits and guaranteed returns turned out to be smoke and mirrors. In reality,
the bank used these investors' capital as collateral far a select group of corporations, leaving
their funds at risk far the duration of the product.

Moreover, troubling allegations of funds being withheld from clients, even after maturity and
payment were due, have raised concerns about the bank's business practices. This has sparked panic
among both investors and account holders, leaving them to question the safety of their funds.

This investigative report exposes the truth behind AfrAsia Bank's Capital Protected Euro Bank
Booster and the bank's handling of client funds, uncovering the impact on affected ihvestors.

AfrAsia l?ank is facing serious allegations of unethical and potentially illegal behavior, and its
investment executives, including former Junior Portfolio Manager Alexandre Ducler Des Rauches, are
under investigation far their marketing of the Capital Protected Euro Bank Booster (The Booster).
Mr. Ducler Des Rauches, now Co-Founder/lnvestment Director of Bluestone Wealth Management Ltd,
promised investors a 5-year product with 200% participatioh in the EURO STOXX Bank lndex (SX7E
lndex) and guaranteed minimum returns of (Capital+ 8%) with a maximum return of (Capital+ 28%). He
specifically targeted low-risk investors with assurances that they would only participate in the
positive performance of the index and not be exposed to negative performance.

As the investigation continues, we are closely following the allegations against AfrAsia Bank and
its investmerit executives, including Mr. Alexandre Ducler Des Rauches, former JuniorPortfolio
Manager and now Co-Founder/lnvestment Director of Bluestone Wealth Management Ltd. The bank and its
executives are under scrutiny for the marketing of the Capital Protected Euro Bank Booster (The
Booster), a 5-year investment product that promised investors 200% participation in the EURO STOXX
Bank lndex (SX7E lndex), with a minimum protected return of (CaRital + 8%) and a maximum protected
return of (Capital+ 28%). Mr. Ducler Des Rauches specifically targeted low-risk investors with
assurances that they would only participate in the positive performance of the index and not be
exposed to negative performance.

The allegations raise important questions about the ethical and legal practices of financia!
institutions, especially when it comes to handling investors' funds. The best practices in the
financia! industry dictate that investment firms must provide clear and accurate informatioh to
their clients, and the investments they offer should align with the clients' risk tolerance and
investment objectives.

Unfortunately, as it turned out, these promises made by Mr. Ducler Des Rauches were too good
to be true. Jnvestors who bought into the Booster suffered significant financia) losses and were
never informed of the true underlying mechanism of the investment. The capital they provided

was actually used to protect a select group of corporate guarantors, completely contrary to
what they were led to believe.

Adding to the concerns, AfrAsia Bank is also facing accusations of delaying and denying transfer
requests of matured funds from its investors. According to one of the clients, a customer service
assistant with the bank, Stephanie Marimuthu, informed clients that transfer directives were being
discussed internally and no decision had been reached. However, after multiple delays, the client
was promised that the transfer was approved, only to be told later that it was not approved, and
the funds were never released.

lt is important to note that this is only one client's éxperience and that there are multiple
clients with uniform grievances, raising further concerns about the practices of AfrAsia Bank. As
the investigation continues, it is crucial that ali the facts come to light, and that justice is
served for the affected investors.

After overa week of delays from Neal Roy, Head of Business Development at AfrAsia Bank, the client
was informed that the transfer was not approved, and the funds were never released.

Despite repeated attempts by its previous investors, AfrAsia Bank has failed to transfer or provide
any reasonable expectation that the matured funds will be released. This investigative report
exposes the bank's unethical practices and highlights the struggles faced by its investors in
accessing their rightfully owed funds.

An attorney representing one of the clients has expressed grave concerns about the previous
behavior of AfrAsia Bank's executives and their handling of investment products. The bank's
consistent denial óf transfer requests at maturity has exposed a disturbing pattern and the
attorney is exploring a range of legal options in response. The bank's unethical behavior is even
more troubling given its history of fraudulent activities, including a 2014 lawsuit filed by
Spiritage Zimbabwe Limited for $79 million. The lawsuit alleged that AfrAsia Bank Zimbabwe
(formerly Kingdom Bank) converted client funds for its own use and falsified records to conceal
non-performing loans. The bank was accused of diverting $3.2 million from the African Export-
1mport Bank for Spiritage's Valley Technologies to Tetrad lnvestment Bank, ultimately benefiting
the bank's directors and management through a round-tripping scheme.

lt's important to note that this investigative report is not meant to be taken as legal advice ora
statement of guilt. The actions of AfrAsia Bank and its executives are still under investigation,
and it is important for readers to seek their own counsel and research the matter further before
making any investment decisions.

In light of the above, this report serves to highlight the potential risks associated with
investing in AfrAsia Bank and to encourage further investigation into the bank's practices. The
public deserves transparency and accountability in the financia! industry, and this report is a
step towards that goal.

When you can't argue on the merits of the points then then you are only left with fallacious ad hominem arguments but the fact is that everything I'm stating about this bank is absolutely and 100% irrefutable fact.

Last edited: Feb 1, 2023

 

[Sols]

Alex002023 said:
When you can't argue on the merits of the points then then you are only left with fallacious ad hominem arguments but the fact is that everything I'm stating about this bank is absolutely and 100% irrefutable fact.
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Arguing the merits of the case is what the courts are for. And I genuinely wish that your clients get justice.

I'm just entertained by the notion that everyone who doesn't agree with you is a paid shill. The idea that a small bank in Mauritius would have numerous people on a discussion forum on their payroll to defend them is preposterous. The bank is hardly ever discussed here. This thread had been inactive for almost two years before you decided to dig it up.

It is a 100% irrefutable and well documented fact that financial institutions like CIM Bank, Wise, Bunq, Bankera, and Verifo are currently discussed (positively, negatively, neutrally) more than AfrAsia Bank. But for some reason, despite only being mentioned here about 50 or so times in total, AfrAsia is supposedly paying off some of the most active members on this forum.

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This is the probably the answer to your question.

 

[Alex002023]

This is the 1st reasonable post I've seen and you're right, this matter is invariably going to court, our team when searching for AfrAsia found this thread and we believe it's important for people to know what this bank is doing, the reason why which i suspected some of these people get paid for is because without even asking or knowing the details of the matter they blindly defend the bank, these people in this bank are stealing peoples hard earned money period. And they will be held accountable and it is important that the public, including readers of this thread, know what AfrAsia Bank is doing.