I looked for a good lawfirm in Belize. I found one, contacted them and they told me they don't work with cases like Choice Bank but they recommended me this lawyer who apparently has a lot of experience. She's their associate. Of course i can't guarantee that she's not a fraud but at this point what choice do i have? I hope i'll get the chance to talk to her and see what she has to say about this︀ bank situation.
Choice Bank of Belize faces liquidity problems
- Thread starter Caporaso and Partners
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Angeli Carrillo, Wrobel & Co., Attorneys-at-Law <[email protected]>
Cc:[email protected]
Jul 5 at 6:47 PM
Dear Sir,
Thank you for your interest in Wrobel & Co.
Unfortunately our firm is concentrating on transactional matters at this time and thus, I would like to introduce you to our colleague, Mrs. Agnes Segura-Gillett. Ag nes is a close friend and partner of the firm who has a wealth of experience with civil litigation here in Belize. I believe that she will be an︀ asset to you as it relates to the matter that you have described. I have︁ provided Mrs. Segura-Gillett's contact details below for your convenience. Please do not hesitate to contact︂ us in the future should we be able to be of any additional assistance to︃ you.
Agnes Segura-Gillett
Attorney-at-Law
Email : [email protected]
Phone : +501-227-0810
Cc:[email protected]
Jul 5 at 6:47 PM
Dear Sir,
Thank you for your interest in Wrobel & Co.
Unfortunately our firm is concentrating on transactional matters at this time and thus, I would like to introduce you to our colleague, Mrs. Agnes Segura-Gillett. Ag nes is a close friend and partner of the firm who has a wealth of experience with civil litigation here in Belize. I believe that she will be an︀ asset to you as it relates to the matter that you have described. I have︁ provided Mrs. Segura-Gillett's contact details below for your convenience. Please do not hesitate to contact︂ us in the future should we be able to be of any additional assistance to︃ you.
Agnes Segura-Gillett
Attorney-at-Law
Email : [email protected]
Phone : +501-227-0810
Hello,
I was︃ in the same situation, waiting for wire transfer but they constantly had "problems" with information︄ I submitted and last email I got from Melonie Silva (Credit Analyst Choice Bank Ltd.)︅ was on Jun 27.
After that I found out about liquidation.
I was︃ in the same situation, waiting for wire transfer but they constantly had "problems" with information︄ I submitted and last email I got from Melonie Silva (Credit Analyst Choice Bank Ltd.)︅ was on Jun 27.
After that I found out about liquidation.
Yes there were two poits where you should complete diferently, but about the same "Beneficiary Account No" and "Beneficiary Bank Account No." that was my issue, but in final I understood and I sent the details corectly, after that I received the confirmation :" We confirm receipt of items requested and confirm all is in order, we will provide you with a copy of wire confirmation for payment as soon as wire is processed. This should be completed in approximately one weeks’ time." last message.. but nothing more...
We need to go to war with Central Bank!
They don't give a f**k about us!
Instead of taking the bank to honour the clients and pay them, they just took over the bank for them!
Central Bank ph no: +5012236194
Liquidator Cedric Flowers phone no: +5012276161 or +5012276160
Liquidator mail: [email protected]
Liquidator personal mail: [email protected]
All of you start asking for your funds!
Don't sleep on it!
They don't give a f**k about us!
Instead of taking the bank to honour the clients and pay them, they just took over the bank for them!
Central Bank ph no: +5012236194
Liquidator Cedric Flowers phone no: +5012276161 or +5012276160
Liquidator mail: [email protected]
Liquidator personal mail: [email protected]
All of you start asking for your funds!
Don't sleep on it!
Lize is right this is he's info:
Liquidator mail: [email protected]
Liquidator personal mail: [email protected]
Liquidator Cedric Flowers phone no: +5012276161 or +5012276160
When I called the bank again today this is all the info they gave ...at lease as for now.
Let's see if Mr. Flowers responds to our calls ,emails and concerns .
I send him an email today. If anyone here has any update please don't forget to post it here.
Liquidator mail: [email protected]
Liquidator personal mail: [email protected]
Liquidator Cedric Flowers phone no: +5012276161 or +5012276160
When I called the bank again today this is all the info they gave ...at lease as for now.
Let's see if Mr. Flowers responds to our calls ,emails and concerns .
I send him an email today. If anyone here has any update please don't forget to post it here.
Folks,
Our money in Belize have no insurance like in the US and many other banks all over the world.
The good news is that International Banks in Belize have to have a 24% liquidity requirement. This means that 24 cents of every dollar we have in deposits has to be set aside and is liquid, ready for anybody to have if something bad happens. The thing is how long till we know how much CHOICE BANK LTD has been stealing from us and what job for real did Central Bank ? Did they cut them off in time or after rain umbrella ......??! what's︀ left of our assets in the bank and why Central Bank and the liqudator haven't︁ provided any other information to the matter . This stinks . There is no guaranty︂ they will split any assets equally nor I believe they will be honest about it︃ unless they pay 100% of what they owe.
At least by their law they are︄ required to pay 24% of what you have in there.
Our money in Belize have no insurance like in the US and many other banks all over the world.
The good news is that International Banks in Belize have to have a 24% liquidity requirement. This means that 24 cents of every dollar we have in deposits has to be set aside and is liquid, ready for anybody to have if something bad happens. The thing is how long till we know how much CHOICE BANK LTD has been stealing from us and what job for real did Central Bank ? Did they cut them off in time or after rain umbrella ......??! what's︀ left of our assets in the bank and why Central Bank and the liqudator haven't︁ provided any other information to the matter . This stinks . There is no guaranty︂ they will split any assets equally nor I believe they will be honest about it︃ unless they pay 100% of what they owe.
At least by their law they are︄ required to pay 24% of what you have in there.
I sent an email to Mr Cedric today, if he answers me I let you︆ know.
The Central bank has all the Quarterly Financial Information of International Banks (Choice Bank︇ is there) International Bank Financials
So they had to know the Choice Bank situation.
Somebody have researched about any similar case with other offshore bank and how was it solved?︈
The Central bank has all the Quarterly Financial Information of International Banks (Choice Bank︇ is there) International Bank Financials
So they had to know the Choice Bank situation.
Somebody have researched about any similar case with other offshore bank and how was it solved?︈
That document explains the problem well. The issue seems to be the huge concentration risk the bank took in its card business. The card business made up too big a share of the banks activities and it got burnt when the plug was pulled unduly. The central bank had no choice (no pun intended) but to step in and address this mismanagement of the banks activities by closing its doors. The business model of the bank was unsustainable coupled with poor liquidity management - the fundamentals of risk management in non-reserve banking.
It can partly also be blamed on MasterCard's new restrictions. MasterCard and Visa︀ are all American companies and an extension of US financial warfare. What is decided by︁ the US government, filters down to those companies and can cause huge ramifications to banks︂ and economies around the world that rely on Visa and MasterCard. Europe is going cashless︃ with use of Visa and MasterCard without its own European card solution in place. The︄ ENTIRE European electronic payment system is now being given to the U.S who can increase︅ fees, or pull the plug at any moment and shutoff who they want on a︆ whim. i.e Choice, Wavecrest etc.....lol. The European entities or Visa and MC are jokes. Also︇ access to electronic payments is not a fundamental human right yet and considering the fact︈ the world is going cashless with no alternative to Visa, MasterCard's dominance we are all︉ in serious trouble.
The world has a future in a cashless society...its called tyranny so︊ get used to it 🙁
It can partly also be blamed on MasterCard's new restrictions. MasterCard and Visa︀ are all American companies and an extension of US financial warfare. What is decided by︁ the US government, filters down to those companies and can cause huge ramifications to banks︂ and economies around the world that rely on Visa and MasterCard. Europe is going cashless︃ with use of Visa and MasterCard without its own European card solution in place. The︄ ENTIRE European electronic payment system is now being given to the U.S who can increase︅ fees, or pull the plug at any moment and shutoff who they want on a︆ whim. i.e Choice, Wavecrest etc.....lol. The European entities or Visa and MC are jokes. Also︇ access to electronic payments is not a fundamental human right yet and considering the fact︈ the world is going cashless with no alternative to Visa, MasterCard's dominance we are all︉ in serious trouble.
The world has a future in a cashless society...its called tyranny so︊ get used to it 🙁
From the outset, it was obvious from the Belize Prime Minister's statement on Choice Bank and then the Central Bank governor's statement on seizing the bank that they are primarily concerned about the reputation of the country as a safe offshore banking destination. They constantly emphasized that Choice Bank was a unique case because of its involvement in adult business and that the rest of the banks in the country are completely safe. Go look at their statements. The governor says even though they seized Choice Bank, depositors for other banks in the country have nothing to worry about. Making Choice Bank depositors whole is︀ almost just an afterthought. But how silly is this? It's like saying, sure you just︁ witnessed a murder but trust me, the country is completely safe. Anyway, it's good to︂ be optimistic if you have your money frozen, but until proven otherwise, the Belize government︃ and the Central Bank do not have your best interests at heart.
Choice Bank of Belize: from the frying pan into the fire
The super-liquidator, Henry J. Hazel, nominated by the Central Bank of Belize at the beginning of July didn’t last even two days and yet, we don’t know how much he was paid. Thanks to the pressure put on the Central Bank of Belize by the Panamanian attorney Giovanni Caporaso Gottlieb, it appears that Hazel understood that there is a group of vigilant account holders who wouldn’t let him be the only one to gain from the liquidation, like he had done in the past. The new liquidator, Cedric Flowers, is a certified accountant from︀ Belize, with experience in the liquidation of the Civil Service Credit Union where the members︁ haven’t received almost anything of their deposits.
At two weeks after taking “possession” of the︂ Choice Bank, Cedric Flowers did exactly what the attorney Caporaso denounced in his Open Letter︃ to the Prime Minister Dean Barrow and the Governor of the Central Bank of Belize︄ Joy Grant, which is dismiss all of the bank’s personnel to replace them with︅ people of doubtful experience. In the two weeks when he has exercised the task of︆ liquidator, Mr. Flowers hasn’t deigned to issue an announcement saying what his plans are or︇ at least, to show good manners, to introduce himself and say that he needs time︈ to understand the situation.
Ad Kees, ex vice-president of Choice Bank has disclosed a press︉ release where he states that the bank has a surplus.
Mr. Cedric Flowers, where is︊ the money belonging to the Choice Bank account holders? And when will you decide to︋ make a public communication?
On the other hand, the attorney Giovani Caporaso Gottlieb states that︌ there’s nothing left to do but denounce Belize’s banking system to the FMI, where the︍ Prime Minister Dean Barrow exercises the job of Minister of Finances and the Governor Joy︎ Grant is going for the second liquidation in two years, demonstrating that the Central Bank️ of Belize isn’t complying with its functions.
The super-liquidator, Henry J. Hazel, nominated by the Central Bank of Belize at the beginning of July didn’t last even two days and yet, we don’t know how much he was paid. Thanks to the pressure put on the Central Bank of Belize by the Panamanian attorney Giovanni Caporaso Gottlieb, it appears that Hazel understood that there is a group of vigilant account holders who wouldn’t let him be the only one to gain from the liquidation, like he had done in the past. The new liquidator, Cedric Flowers, is a certified accountant from︀ Belize, with experience in the liquidation of the Civil Service Credit Union where the members︁ haven’t received almost anything of their deposits.
At two weeks after taking “possession” of the︂ Choice Bank, Cedric Flowers did exactly what the attorney Caporaso denounced in his Open Letter︃ to the Prime Minister Dean Barrow and the Governor of the Central Bank of Belize︄ Joy Grant, which is dismiss all of the bank’s personnel to replace them with︅ people of doubtful experience. In the two weeks when he has exercised the task of︆ liquidator, Mr. Flowers hasn’t deigned to issue an announcement saying what his plans are or︇ at least, to show good manners, to introduce himself and say that he needs time︈ to understand the situation.
Ad Kees, ex vice-president of Choice Bank has disclosed a press︉ release where he states that the bank has a surplus.
Mr. Cedric Flowers, where is︊ the money belonging to the Choice Bank account holders? And when will you decide to︋ make a public communication?
On the other hand, the attorney Giovani Caporaso Gottlieb states that︌ there’s nothing left to do but denounce Belize’s banking system to the FMI, where the︍ Prime Minister Dean Barrow exercises the job of Minister of Finances and the Governor Joy︎ Grant is going for the second liquidation in two years, demonstrating that the Central Bank️ of Belize isn’t complying with its functions.
I think it's this bank, in the article below:
Lord Ashcroft's Belize bank hit by wave of withdrawals
Lord Ashcroft's Belize bank hit by wave of withdrawals
New update https://www.centralbank.org.bz/docs...-choice-bank-limited-v1-20180717.pdf?sfvrsn=2
PRESS RELEASE
FOR IMMEDIATE RELEASE
Central Bank Update on Choice Bank Limited
Belize City, 17 July 2018: The Central Bank of Belize wishes to advise that pursuant to Sections 25 & 27
of the International Banking Act Chapter 267, Revised Edition 2011 of the Substantive Laws of Belize, a
bank’s licence is revoked by the Minister of Finance on the recommendation from the Central Bank. The
Prime Minister who currently holds the post of Minister of Finance has been involved from the onset and
continues to be apprised of the situation with Choice Bank Limited.
The Central Bank placed Choice Bank Limited︀ under enhanced supervision in January 2018, after an
on-site examination raised concerns over the Choice︁ Bank Limited’s governance and operations. The
Central Bank implemented time bound corrective actions but Choice︂ Bank Limited remained noncompliant
in a number of instances. Choice Bank Limited’s prepaid card processor︃ also reported that Choice Bank
Limited had failed to properly address AML/CFT compliance issues that︄ dated back more than three years.
This resulted in the prepaid card processor’s suspension on︅ 02 April 2018 (and eventual termination) of
services that supported Choice Bank Limited’s prepaid card︆ business. The management of Choice Bank
Limited then claimed that this caused a run on︇ the prepaid card balances of the bank and they reacted by
suspending customer withdrawal of︈ deposits on 09 April 2018.
Even after the issuance of two sets of preventative measures︉ by the Minister of Finance in May 2018 and
June 2018, both of which were︊ aimed at preserving the assets of Choice Bank Limited and safeguarding the
interests of its︋ customers and depositors, the Central Bank was dissatisfied with the level of compliance.
When Choice︌ Bank Limited failed to comply with the preventative measures, the Central Bank conducted
an unannounced︍ special on-site examination, which commenced on 25 June 2018. The results of the
examination confirmed︎ that Choice Bank Limited was not acting in the best interest of depositors and
customers and Choice Bank Limited’s international banking license was revoked on 29 June 2018.
With the️ revocation of Choice Bank Limited’s international banking licence, the Central Bank appointed a
qualified liquidator in accordance with the laws of Belize. The current liquidator, Mr. Cedric Flowers and
his team have as a fundamental objective the marshalling of the bank’s assets and customers’ claims in
order to develop a schedule of payments in accordance with the law.
The matter is ongoing and sensitive. As the Central Bank continues with the implementation of actions in
accordance with the laws of Belize, former clients of Choice Bank Limited are asked to follow instructions
issued by the liquidator. The liquidator will oversee all Choice Bank Limited affairs moving forward and
any concerns should be directed to [email protected].
The Central Bank of︀ Belize’s primary mandate is to promote monetary and financial systems’ stability. The
framework for achieving︁ this is embedded in the Substantive Laws of Belize. The prudential approach to
supervision of︂ the financial system consists of regular on-site examinations as well as consistent off-site
surveillance through︃ information and report gathering from those institutions which fall under the Bank’s
supervisory framework. The︄ actions of the Central Bank, before and during the liquidation process of the
said international︅ bank have been in accordance with these laws.
PRESS RELEASE
FOR IMMEDIATE RELEASE
Central Bank Update on Choice Bank Limited
Belize City, 17 July 2018: The Central Bank of Belize wishes to advise that pursuant to Sections 25 & 27
of the International Banking Act Chapter 267, Revised Edition 2011 of the Substantive Laws of Belize, a
bank’s licence is revoked by the Minister of Finance on the recommendation from the Central Bank. The
Prime Minister who currently holds the post of Minister of Finance has been involved from the onset and
continues to be apprised of the situation with Choice Bank Limited.
The Central Bank placed Choice Bank Limited︀ under enhanced supervision in January 2018, after an
on-site examination raised concerns over the Choice︁ Bank Limited’s governance and operations. The
Central Bank implemented time bound corrective actions but Choice︂ Bank Limited remained noncompliant
in a number of instances. Choice Bank Limited’s prepaid card processor︃ also reported that Choice Bank
Limited had failed to properly address AML/CFT compliance issues that︄ dated back more than three years.
This resulted in the prepaid card processor’s suspension on︅ 02 April 2018 (and eventual termination) of
services that supported Choice Bank Limited’s prepaid card︆ business. The management of Choice Bank
Limited then claimed that this caused a run on︇ the prepaid card balances of the bank and they reacted by
suspending customer withdrawal of︈ deposits on 09 April 2018.
Even after the issuance of two sets of preventative measures︉ by the Minister of Finance in May 2018 and
June 2018, both of which were︊ aimed at preserving the assets of Choice Bank Limited and safeguarding the
interests of its︋ customers and depositors, the Central Bank was dissatisfied with the level of compliance.
When Choice︌ Bank Limited failed to comply with the preventative measures, the Central Bank conducted
an unannounced︍ special on-site examination, which commenced on 25 June 2018. The results of the
examination confirmed︎ that Choice Bank Limited was not acting in the best interest of depositors and
customers and Choice Bank Limited’s international banking license was revoked on 29 June 2018.
With the️ revocation of Choice Bank Limited’s international banking licence, the Central Bank appointed a
qualified liquidator in accordance with the laws of Belize. The current liquidator, Mr. Cedric Flowers and
his team have as a fundamental objective the marshalling of the bank’s assets and customers’ claims in
order to develop a schedule of payments in accordance with the law.
The matter is ongoing and sensitive. As the Central Bank continues with the implementation of actions in
accordance with the laws of Belize, former clients of Choice Bank Limited are asked to follow instructions
issued by the liquidator. The liquidator will oversee all Choice Bank Limited affairs moving forward and
any concerns should be directed to [email protected].
The Central Bank of︀ Belize’s primary mandate is to promote monetary and financial systems’ stability. The
framework for achieving︁ this is embedded in the Substantive Laws of Belize. The prudential approach to
supervision of︂ the financial system consists of regular on-site examinations as well as consistent off-site
surveillance through︃ information and report gathering from those institutions which fall under the Bank’s
supervisory framework. The︄ actions of the Central Bank, before and during the liquidation process of the
said international︅ bank have been in accordance with these laws.
With two words another joke post from them with zero proof for anything. No one here is going to believe what anyone says unless providing proof for everything. You operate and work with our money so provide us with some decent info and PROOF CENTRAL BANK OF BELIZE.
Where are our money ? How much the bank has before it got liquidated? How much creditors and depositors can expect to get back and when? Are you going to pay us in full or just give the liquidation % number that is required from the offshore international banking law.
Why the liquidator has not responded to︀ a single email and call ?
Where are our money ? How much the bank has before it got liquidated? How much creditors and depositors can expect to get back and when? Are you going to pay us in full or just give the liquidation % number that is required from the offshore international banking law.
Why the liquidator has not responded to︀ a single email and call ?
- Status