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Novo bank released the funds over a year ago. Novo bank has nothing to do with the delay.

We didn't need FDIC insurance as we did not make any loans. The issue is not that the money is not there. It is. The issue is that the Receiver has not returned it to customers.

There was no reason for even one customer to lose one penny. There was no reason for one customer to have been denied access to even one penny of their deposits for even one second. Customers have a great class action lawsuit if they want to file one. Just copy and paste a lot of what's already...

Not a fishing expatiation. I already posses more than enough hard evidence to prove my case. But I'm sure I will uncover even more during the course of the lawsuit to fill in any gaps.

We can do that too. But he owed a duty on day one to resolve the situation to preserve as much value as possible for all creditors, which includes equity holders. They are last in line, but they are still in line. OCIF can not prove the bank posed any threat to customers, other creditors, or...

The bank staff is gone. It's just the receiver. But there was nothing to wind down. All that needed to be done was send the cash deposits back to customers. At this point the bank has no employees, no office, no debt, no equipment, no asset, no loans, nothing. It's basically just a checking...

You are wrong. Plus, potential buyers help customers and other creditors, as well as shareholders. As it stands now, due to the failure of the receiver to consider a sale of the bank, all customers may end up losing some money. Had he approved a sale, not only would no customer have lost a dime...

Remember the only reason the bank could not return the money to opr out customers and send the opt in customers funds to Qenta, in the fall of 2022 was that the Portugese Government fell for the J5 publicity stunt that the bank was closed for money laundering and tax evasion. The OCIF...

What bothers me the most is people thinking I should not even file my lawsuit as it may delay the return of customer funds, that will eventually be returned. I lost over $17 million that will never be returned. Plus I was falsely accused of helping organized criminals launder money and evade...

The bank was not insolvent. It had no debt. It had millions more in cash than was owed to depositors. Insolvency was the lie that the OCIF Commissioner told to justify shutting down the bank so the J5 could use the closure in its PR campaign. She also did it to win the praise of the J5, to...

That's not true. The bank could have been sold along with the license. Normally when a bank is in receivership it's bankrupt, so no one wants to buy it. But my bank was completely solvent, and there were multiple buyers. Not just Qenta. Most banks in receivership have a lot of illiquid assets...

No, there were buyers who were interested in buying the bank and continue its operation. He had a fiduciary duty to explore the potential of a sale. But he refused to do so as OCIF ddi not want the bank sold. The Commissioner had a secret deal with the IRS to liquidate the bank as a PR stunt for...

Here is what google reads. Yes, a liquidator of a corporation in receivership does owe a fiduciary duty to the shareholders of the corporation, although their primary responsibility lies with the creditors, meaning they must act in the best interests of all parties involved, including...

You are wrong. The trustee owes a fiduciary duty to shareholders as well as creditors. He is required to preserve as much value for shareholders as possible after repaying creditors. The only real creditors are the customers, as the bank had no debt and not much in the way of unpaid bills.

He is not doing his role. He is supposed to be a fiduciary. But he has not acted as one. He has violated his fiduciary duty to me as the bank's shareholder, and to the bank's customers. Plus, I have a one-year statute of limitations to file my lawsuit from the date I discovered proof of the...

That's ridiculous. There is no reason why my lawsuit would slow down the liquidation process. If anything it will speed it up, as the Receiver will want to show progress. The longer it takes him to finish the liquidation, the worse he will look in the eyes of a judge or jury. The best thing he...

The reason I waited as long as I did to sue is that it took me a long time to get the evidence upon which to base the lawsuit. The IRS violated FOIA laws to prevent me from getting that information sooner. Also since its been almost 2.5 years and no money has been returned, its hard to imagine...

My line of argument is sound. Why else would the OCIF Commissioner have turned down the sale to Qenta after having enthusiastically supporting it? If the bank needed more capital, why did OCIF never ask the bank to supply it.? Why did the OCIF Commissioner turn down my offer to add $7 million in...

Qenta was far more qualified than the Receiver they appointed to run the bank, who had no prior banking experience. But there were other buyers too. OCIF refused to consider any of them. One group was lead by a former OCIF Commissioner and included several former OCIF executives. They were...

It was, and OCIF was provided all of the information to prove it. OCIF never alleged that proof was insufficient.