Millennium Bank: Perhaps Not A Scam, But Not Safe Either

You have seen via Google Ads on my or other financial sites advertising 8% CD rates from Millennium Bank. Wow, sounds great! But given the internet age, when you see “bank”, it could be from any corner of the world. The terms “certificate of deposit” or “savings account” may imply security here, but don’t necessarily mean anything internationally. The FDIC website gives some good guidance on Safe Internet Banking:

Read key information about the bank posted on its Web site.
Although it tries to distract you by saying it is owned by some Swiss trust company, if you read further it you find that Millennium Bank is located in the Caribbean nation of St. Vincent and the Grenadines (SVG). So, it’s not even located in the United States. From Wikipedia, St. Vincent has a population of just 119,000, it’s main industry is banana production, and has an unemployment rate of about 22%. Also of interest:

There is [...] a small offshore financial sector whose particularly restrictive secrecy laws have caused some international concern.

Does this sound like a place that you would want to keep your money? Maybe if you were trying to hide it! If something goes wrong, do you want to navigate a foreign system to get your money back?

Verify the bank’s insurance status.
This bank isn’t even located in the United States, so there’s no point in even running a bank search to see if it is FDIC insured. It doesn’t even appear to insure its deposits by any private or public agency. If a bank claims to be a subsidiary of a bank that is FDIC-insured, call the parent bank. If they’ve never heard of it, run away.

Gut check: Is it too good to be true?
Finally, risk and return are closely linked in legitimate bank products. If the best any other bank can do is barely 6%, there’s virtually no way a bank offering 8% return with the same level of risk. They have to be doing something riskier, whether it is making some currency bets or investing in lower-quality debt. Given the lack of disclosure of what these risks are, you might as well buy some junk bonds, which are at least rated by reputable independent companies.

Bottom line, I hope you’ll agree there’s absolutely no reason to put your money anywhere near this institution.

Comments

  1. Millennium Bank is a sponsor of The Wealth Collection (magazine for super wealthy people like Donald Trump). I dunno if that means it’s safe, but it’s definitely ligit.

  2. If you don’t like them, you can opt not to have them shown by Goggle Ads.

  3. Nony-mouse says:

    Jonathan,

    FDIC is an american thing…..if the bank is overseas, why should they be insured under FDIC. I am sure great British banks are not FDIC insured nor have presence in the US.

    There are some Australian, Indian banks that offer around 8% or more. (I think the money has to be kept in local currency, thus currency fluctuations are also a concern)

    If allowed, I think i wll try to keep $50 in millenium bank to see how legit they are.

    The reason these banks are not under FDIC umbrella is because FDIC requires/advices/forces these banks on how to invest their money etc. These banks are risky but not necessarily a bad investment. I am sure there are many american based stocks that are worst.

  4. Nony-mouse says:

    Mike,

    When they say they are a sponsor, i think what they mean is they put advertisements in that magazine. (which anyone can)

    I have seen fantastic, high quality magazines with ads from diploma mill universities.

  5. If one fully understands the deposit insurance available in another country, and feels that they can get the money back easily in the even of trouble, sure, go for it. Neither is available from this bank. I don’t want to have to make a flight or write letters just to get a resolution.

    Your money at Millenium bank could be perfectly safe… until it isn’t.

    Most foreign bank accounts are also held in their home currency, which can be a good or bad thing depending on one’s situation.

  6. HSA Son says:

    Jonathan – thank you for your comments, I believe you are just trying to be transperant and make people as ignorant as me think before investing in such banks.

  7. I hope it’s also perfectly clear that sponsorship and endorsement are completely different animals.

    Just because you see an ad in between your favorite TV show, in a magazine, in a newspaper, or in a website, does not mean that the advertiser has the endorsement of that media outlet. Chances are they haven’t investigated it at all. It doesn’t matter if it’s for beer, make-up, cars, or banks. It’s paid placement, nothing more.

    I don’t have the time or inclination to filter every single ad that gets submitted through Google. I’ve tried, it’s a losing battle. My goal remains to write useful information about topics that interests me, and trust each of my readers to make the proper decision for themselves regarding the advertisements.

  8. We should clarify some things. Millennium Bank (with two n’s) based out of Reston, VA, is FDIC insured. Millenium Bank (with one n) is not. The latter is the bank in question.

  9. Nony-mouse says:

    Tim,

    When i click on the website, the bank is wth two n’s.

    I was reading the following from their executive statement. The English doesnt really seem very professional, especially in the last sentence. Seems like 3rd grade to me.

    “What is the catch? Deposits in most countries are protected by a form of deposit insurance. Deposits in international private banks are not. It is therefore important to choose an international private financial institution that is strong. Millennium Bank is strong. “

  10. Nony-mouse says:

    I sent them an email with the following questions:

    1) I have USD$100,000 to invest, what is the best rate I can get?
    2) How many branches do you have?
    3) When was the current branch opened?
    4) Who is the president of your bank?
    5) Has anyone lost money by investing in a CD?
    6) Are you a member of any bank associations local or international?

    Lets see how they respond.

    Can someone send them an email and ask who the president of the bank is and what is their email address. I want to see if we get conflicting answers.

    Their email address is:
    client-services@mlnbank.com

  11. Other countries often have higher interest rates because they have higher inflation. Since you have to keep money in their local currency it means that by PPP their currency should decline at approximately the difference in the rates, all else being equal.

    Thus you cannot get higher real returns in this way without taking on higher risk. However it doesn’t mean that just because they offer higher nominal returns that it is more risky.

    In fact if you have some reason to own that currency then this may make sense.

  12. MossySF says:

    Overseas banks can offer higher interest also due to different prevailing rates for their country. NZ banks offer 8% CDs — probably guaranteed by the NZ FDIC equivalent. But due to currency flux, you may end up getting less than 8%. (There’s a local bank here that offer 25K 1mo NZ CDs.)

  13. I looked into that bank a few months ago, lured by their high rate. I found the same stuff you did, plus some ‘unsatisfied’ customers who’d posted their experience on the web. I can’t *conclusively* say so, but that wanna-be-Swiss connection plus what I read was enough to keep me away from them.

    I’m glad you’re posting about it though, because if it’s really not legit, it needs to be discussed more openly.

  14. Thanks for the comments. If you really want nice foreign rates, check out the Everbank Icelandic Krona CDs paying 12.5% APY right now!

    But as mentioned before, if the account is denominated is US Dollars, it’s got to have some currency exchange risk built in. The issue with Mill Bank is that you have no idea what they are investing in. Way too vague.

    There seems to be at least two US-based banks also name Millennium Bank, all with two n’s. Shrug.

  15. If it is a bank we do not already know or have a relationship with at Sovereign, I cannont comment on safety.

    Thanks.

    Regards,

    Jack Crooks, Currency Director

    Crooks Currency Group

    P. S. Bob Bauman, our legal counsel did comment on this type of inquiry previously, as follows:

    Dear Sir/Madame:
    We checked with two leading and trusted financial advisors with whom we work in Zurich. They report that the “bank” you named is not registered as a financial institution as required by law (see: http://www.ebk.admin.ch/e/institute/index.html) nor does it appear in the trade registry of Swiss corporations.

    It appears that the “bank” is little more than a web site full of words. To quote one of our experts: “Unless we missed something?this is a sham…”

    I hope this information is helpful.

    BOB BAUMAN, Legal Counsel
    The Sovereign Society Inc.

    Lavita Turner

    Customer Service/Conference Associate

    The Sovereign Society

    98 SE 6th Avenue, Suite 2

    Delray Beach, FL 33483

    Telephone: 888-358-8125

    *~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~

    Any and all communications from Sovereign Society employees should not be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investment advice.

    .

    ——————————————————————————–

  16. nony-mouse you are right. when you go to the website and look on thetab, it has only one “n”, which I had looked at. oh well, still wouldn’t dump money there.

  17. As everyone knows, you can get a 5% rate FDIC insured a lot of different places.
    Is the extra 3% return really worth risking never seeing your money again? I don’t think so!

    If you had $10,000 invested, 5% would get you $10,512 & 8% would get $10,830. Is the extra $318 worth losing the $10,000?

  18. I researched this “bank” extensively and can say that either it is a ponzi scheme type of fraud or is a money laundering operation for tax evasion or drug dealers. If it is money laundering then your money is probably safe until the “bank” gets into trouble with US or European governments. There is no such institution as United Trust of Switzerland. Some investors of Millenium bank purchased the United Trust in a bankruptcy auction and is not even registered in Switzerland.

    What about Royal Savings and Loan, Czech republic. Its interest rates are higher and is insured by Czech government which is quite stable. Any comments ???

  19. Heidi Wilson says:

    I am grateful for all this information. I was about to go “Wow” and send in my money for a 12.5% CD. Now I won’t. Thanks.

  20. Dana Hess says:

    thank all for this invaluable info….as the Millenium website is pretty slick in it’s professional appearance and message ….creating a sense of security …..wow, think I’ll keep my investments in the US…..keep up the good detective work!

  21. Here is a great way to get good rates on CDs, even for short term and lower investment amounts:

    https://www.auctions.zionsdirect.com/

    Of course, I’m torn in posting this. More people going there means more competition to my bidding. But, with more bids coming in, hopefully they’ll be able to get better sponsor deals to pass on to us.

    Happy Bidding!

  22. I am from St. Vincent and the Grenadines, and I think that investors should be very concerned about investing in Millennium Bank (the one that’s registered here). I have seen this type come and go over the years. They are operating is very questionable manner.

    This type behave like high rollers with an endless bank account and are usually big investors in political campaigns. True to form, of late a very expensive jet/s (Spirit of Millennium/Millennium Bank) arrives here every week and are given the executive treatment by some shady characters in high positions.

    I could easily contribute further but it is not my job to do so.

  23. First, let’s get past “FDIC” – If you’re investing in anything that earns greater interest than a domestic CD, that money is NOT FDIC insured. We give up that security when we choose to invest in Mutual Funds or the Stock Market.

    Now,
    Has anyone read the following? In my opinion, One Million people can read this no more than half will come to the same conclusion. Suffice it say, ALL offshore investments will pose greater risk with greater reward – our countries Billionaires have been putting their money overseas for decades, even Legit Swiss banks are full of American money. I’ve been to the Caribbean and some islands seem to have more foreign banks than actual people.

    Anyway, the guy in this interview puts up a fight without revealing much of anything. It feels like shady people are making a lot of money with this shady bank. link

  24. Bill Pruitt says:

    All I wish to know… Knowing the offshore risk factor,… Is, Where are the complaints against Millennium??? If they are sour, some one should have already been burnt. Helloooow!.. Where are you?!

  25. I know the Millennium bank you are speaking of and I also am one of their clients and am very happy. It is true that they are NOT FDIC insured and as others have stated it’s because they are outside the US. I have been to the Bank and must say the employees are very pleasant and show great respect for my privacy. I am a real fan and will be there for the long haul with it extending to my heirs.

  26. what about investments – re cd’s offering 8.5% in Panama. Is this safe.
    After all the Donald is building his tower over there

  27. Ken Weir says:

    I was hoping some investors for several years experience with this bank would comment. All the comments seem to say stay away from Millennium Bank. It may be too good to be true. I called up and spoke to a representative, the person I talked to said that he had been with them over nine years but if you are squeemish then don’t invest.

  28. Need more information & story in re: Millennium Bank located in Caribbean of St. Vincent and Grenadines

  29. Stelwagen says:

    Where can get anyone 5% on a CD at any reputable bank ( with FDIC ) in the USA after April 2008 ? The Fed will lower the rate to 2 % – from 5.25 %, soon; no matter the term, matterfact nowadays the longer term means lower rate…. The banks have wised up….Stelwagen

  30. Michael says:

    Millennium Bank, National Association (FDIC Cert: 35096)
    is a National Bank and has been FDIC insured since April 1, 1999. Some one has not been doing their home work.

  31. Michael – One should always be sure before telling others to “do their homework”. The bank you are listing is not the same bank offering extraordinarily high yields that I am talking about above.

    US Bank, FDIC Insured – http://www.millenniumbank.com

    NOT US Bank, – http://www.mlnbank.com

  32. Larry Gutter says:

    I, too, am waiting to hear from an actual, disgruntled investor who has actually had a PROBLEM with these guys!! Yes, there’s always risk, especially with an off-shore banking institution, but even some of our own US-based institutions have had their share of lumps!! Has anyone successfully invested with Millennium Bank for longer than a one year period?? Would like to hear something besides scare rhetoric…

  33. @Larry Gutter:
    > I, too, am waiting to hear from an actual, disgruntled investor who…

    Their About Us page claims they’re owned by ‘United Trust of Switzerland’. When I googled for that name, I could not find a public website for the parent company. I did find 4 pages of other blogs, forums, etc. where people like us were complaining about this bank. Do you really think a Swiss bank established in 1931 would not have it’s own public website? I didn’t show up on the first 4 pages of google results for that name.

    If you think we’re being unfair, please produce one reputable 3rd party that publicly vouches for MLNBANK, and post the URL on this thread. Also, if someone could post a picture of a building with the ‘United Trust of Switzerland’ logo in Zurich or Geneva?

    The reason we’re being suspicious is because banks are held to a higher standard than any other business. A real Swiss bank would know that.

    -J

  34. The website at mln.com actually tries to explain why its “parent company,” United Trust, does not have a public website.

    “Due to a long-established tradition of providing absolute confidentiality for its premier private clients and its unwavering commitment as a private trust, United Trust of Switzerland does not offer a public website.

    Privacy and confidentiality are the ultimate trademarks of established Swiss trust companies. United Trust of Switzerland is a globally recognized leader in upholding these values and principles.”

    What a bunch of bull! First they say it is confidential and private, then they go on to say how it is a globally recognized leader in upholding these principles. You can’t have it both ways! If they were truly globally recognized, wouldn’t someone have heard of them from a reputable source? Avoid this “bank” at all costs!

  35. I am a FORMER and CURRENT customer of UNITED TRUST OF SWITZERLAND for very good reason: this is a wonderful company that knows their business and sets the standard in integrity.

    I had a 1 year, 12% CD with United Trust of Switzerland, and it was the easiest investment I have ever made. It was like a Swiss Clock. I also had a large 9% CD with a 7 year lock. After two years, I became nervous about some of the negative opinions I was reading online about offshore investment banks and asked if I could cash out. United Trust of Switzerland didn’t hesitate, and fully refunded all of my investment with 100% of the earned interest to date, with out penalty. They also paid all expenses to wire transfer the money for me and then thanked me for my business. Show me any other bank in the world that would do that.

    For my money, United Trust of Switzerland is FIRST CLASS, and has more integrity than any other bank. I am back with them and plan to stay.

  36. @David
    > For my money, United Trust of Switzerland is FIRST CLASS …

    And you’re a “reputable 3rd party” how exactly? Because your first name is David and you have an internet connection?

    Let me spell it out. Reputable 3rd party is: The Wall Street Journal, 60 Minutes, Kiplinger’s, Warren Buffet, etc. Someone with the means to research this and a reputation (to keep them honest). And yes, I don’t fit the “reputable 3rd party” definition either. But I’m not asking people to wire their hard earned money to me.

    -J

  37. Jean-Luc says:

    Although Millenium bank is owned by United Trust of Switzerland S.A
    it would be prudent for any potential investor to examine the Commercial register of canton Zug and to ask Millennium bank to suplly verifiable trade references from their correspondant banks or accountants.

    On accessing the Commercial register of Canton of Zug check under Identification number CH-400.3.001.264-6 – Alington Consulting AG was established 31.01.1931 but it’s name was changed to United Trust of Switzerland S.A on the 02.08.2007. Unless proved otherwise they do not appear to have recorded trade history.

  38. Stan S. says:

    Larry . . .

    Did you visit this public website?

    http://www.mlnbank.com/EN/about/uts.htm

  39. I am from SVG and I am telling you investors that you need to watch where you invest your money. You might find that your entire retirement fund has been totally pissed off by UNCLE WILLY.

    The cradle that is expected to house the verry expensive cigarette hull boat with big engines that he might use when he arrives on the big jet at Arnos Vale is to cost a cool half mill EC. The 24/7 security on the same boat being served gourmet prawns for dinner.

    RICHIE RICH could not get better than this. Might have bank rolled an election………or two.

  40. @Stan S.
    > Larry . . .
    > Did you visit this public website?
    > http://www.mlnbank.com/EN/about/uts.htm

    Yes genius. That’s Millenium Bank’s own website. Again, it’s not a reputable 3rd party.

    -John

  41. My wife and I have been doing business with Millennium Bank in St Vincent since 2004. This was at the recommendation of a friend who had been dealing with them for a few years prior to that. I have recommended their high-paying CDs to several friends. All have paid as promised. We fully understand that as a non-US bank the CDs are not covered by FDIC. To me, the premium returns are worth the additional risk. If this is a Ponzi scheme, it’s had a long, long run.

  42. My wife and I have been doing business with Millennium Bank in St Vincent since 2004. This was at the recommendation of a friend who had been dealing with them for a few years prior to that. I have recommended their high-paying CDs to several friends. All have paid as promised. We fully understand that as a non-US bank the CDs are not covered by FDIC. To me, the premium returns are worth the additional risk. If this is a Ponzi scheme, it’s had a long, long run.

  43. @Jim:
    > My wife and I have been doing business with Millennium Bank

    And you’re a “reputable 3rd party” how exactly? Because your first name is Jim and you have an internet connection?

    -J

  44. John states:
    >And you’re a “reputable 3rd party” how exactly? Because your first name is Jim and you have an internet connection?

    Not representing myself as a “reputable 3rd party” or an authority of any kind. Just sharing my personal experience with Millennium.

  45. I have the account application in front of me now. I am still uncertain about this. Has anyone spoke with David Jones at the bank? I have and he seems to have all the right answers. He also gave me 4 referances here in the states of which 3 I did call. All were very satisified with the bank and were paid on time as stated. They had conducted business with the bank from 2 to 4 years. Jim’s comment about him and his wife being satisified are favorable to the other referances. What recourse do you have if something goes wrong?

  46. >>My wife and I have been doing business with Millennium Bank in St Vincent since 2004.

    Dose anyone has bank with Millennium in USA?

  47. I don’t know that you have any real recourse other than hiring a lawyer in St Vincent & the Grenadines (SVG). I thought long and hard about this issue before we bought their CDs. Relied largely on the experience of a trusted friend who is an agent for Millennium’s US distributer. I spoke to a few customers before taking the plunge. Of course, references could be paid agents who are part of the “scam”. However, one was a priest (verified) and another a reputable business man in our community. I did speak with a David in SVG but can’t remenber his last name. Glad I had confidence! Our experience has been very positive.

    Clearly, Millennium’s CDs involve a greater degree of risk than you would incur at a US bank. There is no free lunch. You can’t get additional return without additional risk. They are able to invest in ways that US banks, limited by regulation, cannot.

  48. I contacted a lawyer in Panama and he recommended Stanford Bank.
    He sent me a Dunn & Bradstreet report which gave them a 5 S rating which is excellent. I then looked for Millennim Bank at the D & B website and they had no listing for Millennium Bank. Why is that?

  49. To David: If you will go to http://www.stvincentoffshore.com it should take you to the the web site of International Financial Services Authority which are the regulators for the Grenidines including St. Vincent. On their web site is a list of approved licensed banks for the Grenidiens and the bank you spoke of, Stanford Bank is not listed. Maybe the laywer has a connection to that bank. I spoke with two people at I.F.S.A. and they said Millinnium Bank is licensed and approved. I assume the reason they don’t have a Dunn & Bradstreet rating is because they don’t issue credit in the USA. Their investments are not tied to the USA, which given the recent mess we are in should be a good thing. I have recently put my “toe in the water” and opened a CD with Millinnium after several months of research. I have found nothing against them anywhere. Trust me, if there is I will be spreading it all over the internet.

  50. To Dave: Thanks for the response. Most offshore attorneys say you visit the bank and talk to the manager. I guess I’m lazy and don’t want to make the trip. Did you go there or just call them?

  51. I have not made the trip. Just talked to them on the telephone, but they have invited me to visit and better still they will pay for the trip up to a certain amount. I plan on making the trip this winter. I also called another licensed bank in Kingston under the pretense of having a wrong number and ask them if there was a Millinnium bank in Kingston and they said there was. I wanted to make sure there was brick and mortor there. (don’t grade me on spelling…I’ve never won a spelling bee….smile……)

  52. I sent an email to the other banks on the island to see if they would recommend Millinnium and if they were legit. I am curious to see what they say. Will let you know.

  53. Why would you ask another bank… competing for your business….to recomend another bank?? What do you think they are going to tell you, if they respond at all??

  54. Just curious. If I went to my local bank and needed help, telling them that I wanted to protect my money and get the best rates, they would help me with my problem. They would even help setting up jumbo CDs at other banks to make sure my money is insured and safe, checking out their ratings, rates, etc. Is it too much to ask of a foreign bank. Wouldn’t they do this for the general public in telling them info on other banks and accounts. Maybe I am stupid. Just curious of response from competitors.

  55. Then what you are saying is that your local bank, the one you bank with is not safe and you want to move your money and they are going to tell you,
    David, we are not safe, you had better move your money now! Do you think even if they were not safe they are going to tell you? The bank president would fire them on the spot if they did that. If they help you set up jumbo CD’s at other banks I’ll bet your bank will charge you points. Banks don’t do anything for free. They may tell you it is free, but you can bet it is hidden in a fee somewhere. Do you think the depositors at Washington Mutual knew the bank was going to fail. Do you think the employees told their customers a week in advance the bank was going to fail? I don’t think so! I see your point in asking, but I sure wouldn’t put much faith in the answer.

  56. You are right. I got two responses today. One told me they never heard of them and one said to check and see if they are licensed.
    That was it. I found one bank, Sanford Bank in Panama, they required a personal visit to their bank for identification purposes, signatures, etc, they also have higher than normal rates. I also found one in Dominican Republic, they also required a visit their bank for proper procedures. Both banks were referred to me from different offshore attorneys. You weren’t required that at Millinnium Bank. Maybe it’s a requirement on jumbos.

  57. Randeep Samra says:

    The most interesting thing about this bank is when you correlate it back to the other banks in the area, most of the others offer a max rate of 2% but the Millennium bank offers 3 times that amount, they must be doing something that is extremely high risk and I agree with the some others that it revolves around currency bets and hedges. They must also be heavily involved in the Forex market.

    http://www.stvincentoffshore.c.....utions.htm

  58. Good catch, Randeep. This is how all risky high-yield investments usually work. The interest payment comes, and comes, and comes… until one day it doesn’t and they stop answering their phones.

  59. Joe the Plumber says:

    Maybe there is a Millenium Bank somewhere that is risky. However, it is irresponsible of you not to distinguish it from Millennium Bank, National Association
    1601 Washington Plaza
    Reston, VA 20190
    FDIC Certificate #: 35096
    Surely, you are not referring to the Reston, VA bank, are you?

  60. No, he is not referring to that one. He is referring to the one that is offshore at St. Vicent and Granados.

  61. I am also curious about Millennium Bank of St. Vincent/Grenada because their high CD rates are tempting. So far nobody has shared any negative experiences with their investments in Millennium Bank; there has just been lots of idle speculation due to their jumbo jet and association with “shady” bigshots. I’ve just read glowing testimonials from satisfied clients who could redeem their CD’s immediately without penalty. I do care about what commodities investment banks sink their/our money into, but how do we know what even legitimate banks finance? They could also be providing funds for drug and arms dealers. Are banks required to be transparent with regard to their investment portfolio?

  62. Yes, I think they are. It would be adviseable to jump a jet and go down there and talk to them. Most offshore banks require it to set up a CD account for various reasons, mainly seeing your signature as you sign. If you are serious, go down there. It’s the best way.

  63. A Ponzi scheme is full of satisfied customers – until the last moment. You can’t rely on testimonials, some perhaps made by genuinely satisfied customers, some made by shills. There is no insurance, so when the bank fails, you lose everything – unlike in the US, where the depositors for the failed banks did not lose their money.

  64. I have had 3 CD’s with Millennium Bank since 2007. I have dealt with David Jones, whom seems to be very real and helpful. As the maturity date approached on each CD, I renewed at the 7.5% rate. I hope I am not making a huge mistake, but I did feel reassured when I was ASKED if I wanted to call the CD in or renew. I have requested to cash one in that matures on 1/14/09. I will advise to what transpires.

  65. With most of Madoff’s money invested in off-shore accounts, I wouldn’t be surprised if banks such as Millennium take a hit. The SEC has a list of where Madoff’s offshore accounts exist, and to my knowledge, hasn’t moved yet to seize those funds. But if/when they do, I’d expect a number of banks to be more than squeemish when it comes to cutting you a check for your investment, especially if they themselves are a Ponzi scheme.

  66. Jessica, did you cash your CD in on 1/14/09. Haven’t heard from you yet.

  67. bsinvestmnts says:

    Just did 5 minutes of research on this “bank”. I can’t believe that anyone would risk a even a dime on one of their investments.

    Please run away from this.

    I’m guessing that Jessica tried to cash in her CD and lost her money…

    David Jones very real and helpful? I’m sure he’s real, but that name…David Jones?….as in Davy Jones Locker…? Think Pirates of the Caribbean…

  68. I have been looking at Millenium Bank for over a year. I am very apprehensive and skittish. I have lost $100,000.-
    in Annuities in 2008 and as a Senior am living on my savings
    now. I have a CD that is mature tomorrow and would like to get more than two and a half %.
    Jessica, did you get your CD cashed in? Please let us know.
    It all sounds too good to be real, doesn’ it.

  69. Editha, can’t you still invest in 30 year treasury bonds and get 4%? Even if you aren’t around for the maturity, you get 4% while you’re here. I’ve haven’t tried these, maybe theer’s a catch, but looks like the recent auction last November is 4.5%.

    http://www.treasurydirect.gov/RI/OFNtebnd
    29-YEAR 6-MONTH
    BOND 11-17-2008 05-15-2038
    4.500 4.310
    103.154521
    912810PX0

  70. I am amazed so many are considering this bank and others who have money with them. Truly astounding. Your comments just confirm to con artists how easy it is to scam the average investor. Keep your money with insured banks and stop being so dumb! I practically pleaded with some clients to take money out of Stanford B years ago and only now is it about to crash-big time.

  71. Some very interesting comments and mind sets regarding your investment ideas.
    I have Vincentian heritage and visit the country at least once a year. I’ve observed Millenium for a few years now and know some of their clients. So far i have not had any negative feed back from the clients that are prepared to take the risk.
    However, because i am from the offshore investment industry, personally the bank is not for me.
    Before i talk about getting greater returns for my clients, i make sure their current investments are moved to institutions that offer at least 90% protection on their capital. Only then will i look at improving their returns. There are products available that offer gaurenteed returns of 12.5%p/a which include 100% capital protection. And that’s just one product.
    The perfect solutions are out there, you just need to find the right advisor to assist in your decisions.

    With regards to the Madoff incident and copious amounts of banks in trouble, the saying goes
    “A rising tide will float the biggest of ships but when the tide is out, only then do you see who is swimming naked”

    So to conclude

    I am here to help if anyone would like me to, at NO cost because i am an advisor and you should NEVER pay an advisor directly !!!!!

  72. Please accept my apologies.
    I worded my previous post wrongly.
    “I make sure their current investments are placed into institutions that offer 90% protection on their money, should the institution fail to meet its liabilities.
    I think that section of my previous post could have been missleading.
    Kind Regards
    Kyle

  73. Editha – how did you lose $100K in an annuity? I have quite a bit in “guaranteed” 10-year term annuities. What gives?

  74. Well Kyle, give a place to contact or website. I would look at what you have to offer.

  75. I to Kyle would like an e-mail address or web site to contact. Strange you made the offer and then left no contact point. You made a huge claim about a product with a 12.5% gaurenteed return and 100% capital protection. When the whole world economy is going to hell in a hand basket it leaves me to question what this company would invest in. Why wouldn’t every failing bank in the world be dumping money into this company with both hands. I’m not saying your statement is not true, I am just stating I would need SOLID proof of this claim especially in this economy.

  76. Hi David,

    kyle.dougan@dv-p.com

    To keep it simple, how much? how long? what access? what risk?

    Obviously i will need a few more personal details but apart from that it can be very straight forward

    Regards

    Kyle

  77. Hi David Y,

    Initially i didn’t leave my contact details because i hadn’t read the BLOG T&C’s so thought it best i wait until requested.

    Feel free to email me on kyle.dougan@dv-p.com or kyle.dougan@devereandpartners.com

    As far as the quoted 12.5% gaurenteed return is concerned, it’s actually 12.48% to be precise. Comprises of four stocks in the telecommunications sector.
    Due to the current financial climate i am concious not to make statements which may miss lead any one. i am more than prepared to provide SOLID proof for your peace of mind.
    There are obviously T&C’s attached to these attractive notes of which i can explain in more detail via email and providing the relevant fact sheets. Also there are restrictions depending on the country you reside. Again i can clarify in more detail via email.
    I will also want to clarify your understanding regarding the capital protection provided by the institution against the capital protection on the investment product. (again via email)
    As far as the failing banks are concerned, i don’t know their stratagies because i don’t get involved with those institutions.
    What i do know is that the Stock Markets are in a very unique position, similar to the early 20′s and 70′s. Take a look at what has happened historically after the markets have been in this position. (please note that past performance is not a reliable indicator of future results)
    By all means submit you details and i will be more proactive and contact you first. Also finacial advise via a BLOG is not preferred.

    Kyle

  78. Jessica Price says:

    One of my three CD’s matured on January 14, 2009. Instead of renewing as I had done in the past, I requested to redeem it and on January 21, 2009 the funds were electronically transfered into my bank account. So for all those who were wanting feedback from a legitimate Millennium Bank client, I can at this time offer nothing other than a positive experience.

  79. I looked into it and this bank is not insured in any form they pretty much state that in there FAQ section of there website. I put that part in the buttom of the link.

    I wouldn’t put my money in this bank. The author is right your better off buying bonds. You’ll be able to accuratly see your risk and get real and accurate info about the company. Millennium might not be a scam but dont be fooled by the word “Certificate of Deposit” its only safe when its backed by the FDIC and these CD’s arnt backed by any form of insurance. Beware!

    http://www.mlnbank.com/EN/about/faq.htm

    “Are deposits in Millennium Bank protected by FDIC insurance or any similar deposit insurance plan?
    Deposits in all private or offshore banks in the Caribbean and around the world are not protected by FDIC insurance or any other insurance plan. Deposits in Millennium Bank are safeguarded by established laws and regulations strongly enforced by the International Financial Services Authority (IFSA). This strict regulatory audit and monitoring system ensures that private or offshore banks are financially viable at all times therefore eliminating the requirement for deposit insurance. For further information click on the URL on our website’s home page under International Financial Services Authority.”

  80. David & David Y,

    I haven’t received and email from you yet. ????

    It’s nice to see a positive experience had by Jessica from MB

    I spent a little time building a portfolio for a client and i”ve proposed 40% of her investment to go into the following.

    How does this sound? and the answer is NOT “too good to be true”.

    Please note i am not trying to solicite any business. However, i hope the following installs a little confidence in the fact that there are Fantastic products out there, you just need to know how to find them.

    Profit Lock-In Note,
    Protected price is set at 90% of initial issue price.
    Thereafter, at the end of each quarter, 90% of the performance will be added to the protected price. Once added the protected price cannot fall and is gaurenteed by . . . . . . . . . . . (a german bank)
    If the performance goes down at the end of any quarter, the protected price remains as the previous protected price.
    As a client you will never be exposed to a negative performance during the life of the product.
    Intelegent Risk Managed Futures. Target return 15% irrespective of rising or falling markets.
    Previous two year annualised return 18.96% (past performance is not a reliable indicator of future results)

    Your feedback would be of interest.

    Kyle

  81. All of Bernie Madoff’s clients were happy too – right up until the end! Then their opinions suddenly changed. Strange, isn’t it?

    Everyone is happy DURING a Ponzi scheme.

    I’m sure yesterday everyone invested with Stanford Financial Group was happy too, now ask the question again of them today.

  82. “Intelegent Risk Managed Futures. Target return 15% irrespective of rising or falling markets.
    Previous two year annualised return 18.96% (past performance is not a reliable indicator of future results)”

    LOL

    Classic scam.

  83. Dear Kyle,

    Your advice was against Millineum because it wasn’t insured by FDIC, then you offer investments that are offshore which is surely not FDIC.
    Don’t know your thinking but you kind of contridicted yourself.

    David

  84. Hi David,

    Please understand and re-read my initial comment MB. My only comment that maybe construde as negative was saying that the bank was not for me due to my involvement within the offshore banking industry.

    As for FDIC, I have no real interest in this insurance. I’m not saying that at least some insurance is better than nothing but to follow is my example.

    FDIC = $100,000 USD insured should the institution fail to me their liabilities.
    Government Backed Investor Protection @ 90% should the institution fail to meet their liabilities =

    $1,000,000 USD FDIC = Kiss goodbye to $9,000,000 USD
    $1,000,000 USD GBIP @ 90% = Loss only $100,000 USD

    When i consult with my clients i am not saying “invest with me because you’ll only lose 10%”, I’m saying place your money in secure and safe enviroments before even thinking about potential growth.

    Which protection would you choose ?

    http://www.gov.im/iomfinance/insurance

    Regarding the portfolio product i breifly described. First I would find an institution with the 90% protection, set up a professional portfolio bond with them and then invest in funds like the one descibed.
    This way i am doing my best to minimise risk.

    I hope you understand.

    To be honest i refer to my initial comment. “It’s not difficult, you just need to find the right advisor”

    Oh and David, i’m still awaiting your email.

    Regards

    Kyle

  85. Hi David,

    Please re-read my initial comment on Millenium Bank and note that i only said the bank is not for me.

    FDIC = $100,000 protected should the institution fail to meet their liabilities
    Government Backed Investor Protection @ 90% = The obvious but i’ll give you an example.

    $1,000,000 USD FDIC Protection = Kiss goodbye to $900,000 USD
    $1,000,000 USD GBI Protection @ 90% = $9,000,000 USD is still yours.

    I don’t consult saying “invest here because you’ll only lose 10%”. The idea is to place clients investments into secure and safe enviroments.

    As for the Portfolio Product i mentioned. I would find an institution with 90% protection to set up the Professional Protfolio Bond with and then diversify your investment into funds, the previously descibed being one of them depending on your attitude to risk.

    Like i said before, the right solutions are out there you just need to find the right advisor.

    Oh and David, i’m still awaiting your email. !!!!!!!! and also read my comments properly next time or maybe twice over.

    Regards

    Kyle

  86. VP_Spiro,

    I’m glad you find it funny. Obviously your understanding of investment banking is also laughable.
    Anyway, continue to think what you think and i’ll continue to open professional portfolio bonds with institutions like Generali International who also endorse these products.
    I would imaging you are unaware of Generali International. They are an institution based in the British Channel Islands that offer 90% Liability Protection, which i believe considerably supercedes the FDIC protection that you all seem to get hard over. Oh and for your information, Generali had no exposure to the sub prime crisis, but you’ll probably LOL at that too.
    Maybe try looking further than between the east and west coast when you’re considering investing and levels of insurance available.

    Please don’t let all the scams scar your views on investment oppertunities. There are some fantastic offers out there.

  87. VP_Spiro,

    Just to educate you further, the two investment products i have mentioned so far are linked to Institutionalised Funds. They are NOT scams.
    The 12.48% gaurenteed return is awesome. Email me and i will email you the fact sheet. PLEASE NOTE i have no interest in taking you on as a client, however i would like you to understand that these products are out there and can be wrapped in a bubble of protection, security and confidentiality for your peace of mind.

    Kyle

  88. Kyle,

    4 posts in a row! Don’t you think you’re OVERselling things a bit?

    You calim you can offer “12.5%p/a which include 90% capital protection” – if that’s TRUE, then why didn’t the Chinese and European Central Banks invest with YOU in stead of buying up all those treasuries and CDOs at a much lower rate of return without the guaranteed protection?

    Or better yet, why doesn’t the U.S Treasury or Federal Reserve invest with you? Hmmmm

    The whole sub-prime mess that started this crisis was due to that fact that “investors” were told their investments were “safe” because the risk was spread around.

    Warren Buffet is an investor not a salesman, he picks the companies in his portfolio. You sound like a “salesman” for someone elses investment “strategy” and YOU don’t REALLY know what you’re ACTUALLY selling do you?

    What with your comment “the protected price cannot fall and is gaurenteed by . . . . . . . . . . . (a german bank)” – ummmm, you don’t know the name of the bank or what?”

    By the way, The German cabinet approved a law on Wednesday (Feb 18, 2009) letting it nationalise banks – so how good is 90% protection by a bank that may no longer exsist in s few weeks?

  89. Mike 2,

    Four postings in a row, a result of my adjutation. Not really trying to over sell.

    12.48% Structured note from Morgan Stanley, exclusive to deVere & Partners. 3Yr note in euro’s and sterling. Opened 19th Jan, Closed 17th Feb,
    15% Target return P/A , alpinvesta managed futures profit lock-in note. 7 year note in USD and Euro.
    Quoted “protected price cannot fall and is gaurenteed by Deutsche Bank AG London.

    Warren Buffet, , , , , awesome!!!!!!

    Salesman, mmmmmm??????? well, people use me as their broker and i recommend financial solutions to match their profile

    I work the Latin Americas, Office Mexico City, Company Head Office Zurich Switzerland.

    Stanfords unacheivable double figured CD’s has been a problem for us for a while now. Our continuous advice to our clients not to invest, obviously, like you say, means i don’t know what i’m talking about.

    I must be being missunderstood because all i’m trying to put across is that Protection Security Confidentiality is out there whilst also having the oppertunity to receive high returns.

    I’ll retract from commenting anymore as i don’t want to get into a slanging match. I’ll leave you with:

    Handsard Global
    Generali International
    Channel Islands and the Isle of Man
    & this just come through on email.

    Deutsche Bank High Income Note. 10%p/a Gaurenteed for five years, 50% protection barrier. Investment into four Blue Chip companies.
    Minimum investment 50k sterling or euro’s.

    As a portfolio it’s a great oppertunity to take advantage of the strength of the USD.

    Banks and Big investors. …….Why did carlos slim purchase 1% of city bank last year. One because he can, Two because he knows the stock value over the next few years will rocket as it always has done historically when the indicies have been in this position.
    If you put all your money in gaurenteed notes like the 10-12% quoted, there’s obviously no extra return should the stocks rocket as predicted.

    I thought the sub prime crisis was caused by wall street brains who created bundled lending packages that where not understood by banks but made Banks short term fortunes. Then it all hit the fan.

    So Mike 2. If an investment strategy works and you can clearly see it does, would you follow it or would you try and think of something else.
    If Micheal Phelps swims a certain way and he always wins, i guess you would try and swim like someone else. This way making it more difficult for yourself.

    Similar to how professionals involved within the Stock Market, make it alot more complecated than it really is.

    Good Luck.

    Kyle

  90. Kyle,

    Your “guarantees” are only as good as those who are backing them.

    If companies go bankrupt or banks are nationalized, the “guarantees” are as good as poo.

    Citi Bank is on the verge of collapse, Carlo Slim only bought 1% because he knows he will most likely lose his investment when Citi is nationalized – otherwise he would have bought WAY more. It’s a gamble he’s willing to take.

    Just check out the “guarantees” that Stanford Financial Group was offering – your recommendations sound pretty similar to me.

  91. Mike 2

    My energy has gone mr friend.

    please check http://www.isleofmanfinance.go.....holder.xml

    Does AAA Credit rating and Stamford Financial Group have any similarities, , , , , , , , , ,NO.

    If you look into my recommendations and all of the aspects, you will see there are NO similarities.

    I wish yo all the best with your financial future.

    Kyle

    Oh and if the link doesn’t change you prospective on my recommendations, i suggest you use the Pillow & Carpet Bank. I believe you have their address. Unbelievable gaurentees with them . . . .

  92. @ Kyle : you are a complete and utter twat. You have no f**king idea what you are talking about.

    What you are talking about are equity linked debt securities. Debt securities from Deutsche Bank are NOT guaranteed by a public insititution. In contrast savings at a bank are insured up to a certain amount (USA: FDIC, Germany: Einlagensicherungsfonds). This is a big difference!

    “Deutsche Bank High Income Note. 10%p/a Gaurenteed for five years, 50% protection barrier. Investment into four Blue Chip companies.
    Minimum investment 50k sterling or euro’s.

    As a portfolio it’s a great oppertunity to take advantage of the strength of the USD. ”

    Tell the f**king truth – the problem is you have no idea. This product is a so called worst-off reverse convertible. You forget to highlight one important: Your capital is only guaranteed if none of the 4 stocks in the basket never trade below 50% of their initial fixing. As a buyer of this note you are long a zerobond and short a worst-off put option on the basket. Even if its guaranteed, the guarantee only helps you as long as Deutsche Bank doesn’t default. The 5Y CDS rate is trading atm at around +125 bps p.a.. Otherwise you will just receive the recovery value.

    I am working at an international bank in the derivatives department – don’t even dare to spread b*llshit if you haven’t got your facts right.

    Back to Millennium:
    100% Ponzi.

    Monger

  93. Hi Monger,

    “Obviously there are T&C’s attched to these notes” Don’t really think that i misslead but thank you for continuing the explanation insuch detail.
    Cap Gaurenteed note have been working for our clients thanks. As for institutions, Please give me another option than Jersey, Guernsey and the Isle of Man, an option that offers a higher level of protection
    So what should clients do then Monger? Where should they safely stick their money?
    If it’s B.S. why are we doing PPB’s whilst being transparent in our recommendations.

    Whilst you conduct your analytical role at the international bank and i continue to be a TWAT ???? what should clients do when looking for a safe enviroment to place their money? ? ? ?

    What do you recommend when you are speaking to clients that only read and maybe experience horrors like Stanford. I was outside the Polanco office watching the disturbing comotion yesterday whilst people cried at the thought of potentially losing their lifes savings.

    I recommend institution in the british isle for offshore investing, can’t think why you’d listen to me cuz i’m, as Monger puts it a TWAT. But you do get 90% protection against anything happening to the institution. Is that not true Monger?
    Maybe you whould lose the M.O & G in your name and replace it with W.A.K

  94. Okay, no more comments along this line. You guys have made your positions clear. Please keep future comments on topic to Millennium Bank.

  95. fair enough

  96. Thanks Jonathan. It does look like Kyle may be trying to solicit some business here and none of this seems to have anything to do with Millenium bank. I did e-mail Kyle and he returned my e-mail, but seems to want more information from me before he releases any information on his ultra safe high return investments. Kyle, if you are not looking for clients why don’t you just post the information on where the investment is, what it is in detail and who to contact and let those interested obtain information from the source and make their choice.
    It’s a sad note about the times we live in. I am 70 years old and have been a business man since I was a teenager. Most of my life I have done a lot of business on a hand shake and never had a problem. I guess in those days it was called TRUST and MORALS. What have we become. Seems to me greed has replaced T an M. The dishonesty that
    exists in the financial markets is a disgust. When you say to your best friend, Everybody is dishonest except you and I and now I’m not so sure about you. Not that I have said that, but I’m making a point. A sad point. Our children are our furture and the lessons we are teaching them will leave them with no furture. Kyle, I’m not pointing a finger at you, I am making a statement in general.

  97. This looks great !!! After all….you don’t want to put all your eggs in one PONZI. A little Madoff, a little Stanford, a little Millennium…..how am I doing? Diversified?

  98. Listen people, overseas banks have a greater return/risk for many different reasons. If you guys think that an 8% interest return is crazy on a cd, think AGAIN! I have 2 cds in the Dominican Republic and my return is 18% with the Banco de Reservas. Do your research, and like with any other investment figure out what ur willing to risk. I’m flying next week to close out on one that matures on feb 27th and guess what, i’m doubling my initial investment!

  99. to Elington:

    Are you getting 18% on US dollars or on Paso dollars.

    Looks like the Peso lost about 10% against the dollar over the last 2 years.

    May continue to drop and wipe out your return… may not be worth the “risk” – No FIDC Insurance & currency instability

  100. THE joe thew plumber??? joe..you’re an idiot. try to stay out of the public eye from here on

  101. SEC Indictment of Millennium Bank as a $68 Million ponzi scheme. Hope none of you “long-haul” shmucks had any money with them. A bank that offers that kind of rate (320% ) higher than all other banks is obviously a shady instituion.

  102. i am still putting my all my money there. its a great opportunity

  103. SEC website statement:

    Washington, D.C., March 26, 2009 — The Securities and Exchange Commission has obtained an emergency court order halting a $68 million Ponzi scheme involving the sale of fictitious high-yield certificates of deposit (CDs) by Caribbean-based Millennium Bank.

    The SEC alleges that the scheme targeted U.S. investors and misled them into believing they were putting their money in supposedly safe and secure CDs that purportedly offered returns that were up to 321 percent higher than legitimate bank-issued CDs. The SEC’s complaint alleges that William J. Wise of Raleigh, N.C., and Kristi M. Hoegel of Napa, Calif., orchestrated the scheme through Millennium Bank, its Geneva, Switzerland-based parent United Trust of Switzerland S.A., and U.S.-based affiliates UT of S, LLC and Millennium Financial Group. In addition to Wise and Kristi Hoegel and these entities, the SEC has charged Jacqueline S. Hoegel (who is the mother of Kristi Hoegel), Brijesh Chopra, and Philippe Angeloni for their roles in the scheme.

    “As alleged in our complaint, the defendants disguised their Ponzi scheme as a legitimate offshore investment and made promises about exuberant returns that were just too good to be true,” said Rose Romero, Director of the SEC’s Fort Worth Regional Office. “This case demonstrates that investors need to be especially cautious when placing money with entities that may be outside the reach of U.S. regulators.”

    According to the SEC’s complaint, at least $68 million was raised from more than 375 investors since July 2004. Millennium Bank, a licensed St. Vincent and the Grenadines bank, solicited new investors for its CD program through blatant misrepresentations and glaring omissions in its online solicitations and in advertising campaigns targeting high net-worth individuals. For example, in offering materials, Millennium Bank claimed that its parent, United Trust of Switzerland S.A., provides Millennium Bank with “over 75 years of banking experience, correspondent banking relationships, decades of knowledge in privacy and confidentiality as well as extensive training for our customer services professionals.” In fact, the SEC alleges, United Trust of Switzerland S.A. is not a Swiss-licensed bank or securities dealer. Potential investors visiting Millennium Bank’s Web site also were falsely informed that Millennium Bank is not affected by the global financial crisis and has a 100 percent client satisfaction record going back close to 10 years, and has its own affiliate asset management company with highly seasoned professionals who invest meticulously.

    The SEC alleges that investor funds were not used for legitimate banking or investment activities. Instead, to create the appearance of a legitimate offshore investment, investors purchasing the CDs were instructed to deliver their investment checks to the offshore bank. The SEC alleges that the checks were then packaged and delivered to UT of S LLC’s office in Napa, Calif., where the checks were electronically deposited by a remote deposit machine into a UT of S, LLC account. The account, which is held at a U.S. financial institution, also received millions of dollars of investor funds via wire transfer. From that account, the SEC alleges, the defendants misappropriated a vast majority of the investor funds to enrich themselves and pay personal expenses, while making relatively small Ponzi payments to investors.

    Judge Reed O’Connor, in the U.S. District Court for the Northern District of Texas, granted the SEC’s request for an asset freeze and emergency relief for investors.

    The SEC charges that the defendants violated the anti-fraud provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934. The SEC’s complaint also alleges that the defendants violated the registration provisions of the Securities Act. The complaint seeks permanent injunctions, disgorgement together with prejudgment interest, and financial penalties.

    Additionally, the SEC’s complaint names four individuals and four entities as relief defendants: Lynn P. Wise of Raleigh, N.C. (the wife of William J. Wise); Ryan D. Hoegel of Lincoln, Calif. (the brother of Kristi Hoegel); Daryl C. Hoegel of American Canyon, Calif. (the husband of Jacqueline Hoegel), Laurie H. Walton of Raleigh; and United T of S, LLC, Sterling I.S., LLC, Matrix Administration, LLC, and Jasmine Administration, LLC. All four entities are based in Las Vegas. The SEC’s enforcement action seeks an order compelling them to return funds and assets traceable to the Millennium Bank fraud.

  104. Scot….The Millennium bank you are talking about is in Virginia I think and I’m not sure you hve your facts straight. It is not the off shore bank we are talking about.

  105. David…read through the SEC charge and you will see that it is, in fact, the Millennium Bank in St Vincent and the Grenadines. This is the very same bank that has long been under criticism at this web site.

    I came to the defense of the bank some time back having done business with them. I must now admit I was wrong.

  106. I stand corrected…Thanks for the info.

  107. Well, it appears that are Millennium bank got busted. I am glad that I didn’t send my money down there. I was also dealing with Stanford Bank in Panama, same thing their high interest rates were a scam. I do not trust any of the banks off shore, and now for sure. Better get that money FDIC insured here in the United States

  108. Randeep Samra says:

    It is interesting that you bring up Stanford bank David, even though the Millenium bank that got busted is not the same one we are discussing, I would be real interested to see the link between Sir Allen Stanford and this bank. Remember that he is a dual citizen of America/Antigua and Barbuda. This is all based in the West Indies. He has a lot of financial derivatives in the West Indies and I wondering if he is running another scam scheme there.

    People respect Allen a lot there and he has done a lot for the people, i have to say this has been on my mind for a while but i did not bring it up until David said something. I wonder if there is a way to see if he has any link to the Millennium bank in St. Vincent and the Grenadines, since he has so much business(in the financial sector) in the West Indies.

    http://en.wikipedia.org/wiki/Allen_Stanford

  109. We are a local business (law firm) and had one of our commercial accounts at Stanford Bank here in Panama City. In Panama, they were operating as a regular commercial bank, not an investment bank. If you spoke to them about high yield deposits, they referred you to Stanford, USA or the Caribbean. But they did not offer these types of yields in Panama itself to the best of our knowledge (we had asked about for our own deposits and were given the choice of local rates which were comparable with the other local banks or dealing with the Caribbean people). Probably because in Panama the regulator holds executive of the operation personally responsible for these types of things, so I suspect they were very cautious about local accounts and activities.

    The regulator in Panama has advised that the local operation is fully or close to fully liquid and all depositors will be getting their money back shortly – the main Stanford branch is still staffed (but not engaged in day-to-day activity) and when we went in a week ago they were advising the regulator was intending to release funds to account holders in the April 1-15 period.

    The bank regulators here in Panama are really tough, they audit frequently (and in detail) and don’t hesitate to lay down fines at the drop of a hat. This may be why there has not been a bank failure here in as long as anyone can remember. That is not to say it could not happen in the future, but banking rules are pretty tough. For example, our local banks are not allowed to invest deposit capital outside of Panama in the types of investments that any American bank could undertake routinely. In January, it was announced that the average Panamanian bank had 58% liquidity (vs OECD avg of 8% approx).

    We spoke directly with one of the regulators (we are a law firm) and were told that as a matter of principle, the govt inplicitly stood behind all banks in respect of deposits.

    So while we would recommend caution with deposits at any financial institution, we would also advise that one should examine the past history in any locale, as well as review the regulatory conditions. For Panama at least, the past history has been extremely good (much better then the USA for example), and the regulatory regime is reasonably stringent (and has been stepped up as I am sure it has been elsewhere as well).

  110. Yes, Millenium SVG sure was tempting … 8% interest! But being offshore made me gun-shy so I never pulled the trigger, but I’m glad the cat is out of the bag now. Hopefully the scammers enjoy a short vacation in San Quentin followed by a visit to their brand new execution chamber. Sadly, the gallows and gas chamber are no longer used, but lethal injection does the trick!

  111. Unlikely Stanford and Wise would be connected. Both were on the other side of the coin of each other. Here is how it works:-

    Individual wants to get rich quick so he starts a ponzi scheme. He sells the idea to a greedy politician who wants to control a whole Country, with promises to finance election campaigns. The politician is greedy also, and wants to be addicted to power. Together they concoct a plan and set out to hatch the plan.

    Politician provides protection for ponzi scheme to operate and when International Authorities decide to investigate, politician, through all kinds of antics and shenanagans, is able to block, delay and do all kinds of things to protect his nest egg.

    Finally, he is not able to hold out any longer and the process goes through. Then he comes out with big statements to say that he was trying to throw them out of the Country because of mismanagement of funds, when in fact he had only put the pressure on because ‘crook from foreign’ was falling short of expectations at some point in the start up period.

    Politician smart too bad. He makes sure his collections are in cash money and when the s–t hits the fan he has the power to appoint one of his partners in crime, who happens to be associated with a Int. Auditing Firm to make sure that no one of importance to the administration is implicated in the crime.

    Meanwhile, all of the partners in the crime enjoyed a wonderful a feast at the expense of investors, including fine wine, the best food and lots of p—y. Banker goes to jail and paracites searches for a new host. Cycle begins again.

    Stanford in fact came late, when the fiefdom was already established. He engaged in financing the losing Party, but our friend, Millennium, had already successfully established the fiefdom under the current set of bandits; with lots of dough to grease the palms of a poor and uneducated population, who only trying to get a little piece of the pie from the greedy politician via handouts for votes. Some times all it takes is a EC$100.00 to start up operations and a repeat at christmas or if someone has fallen to hard times.

    During the year, the greedy politicians would run a few fetes with free food liquor and entertainment and would tell them that he ‘loves’ them. Politician creams of the top and controls underlings with laws and trigger happy young men with big guns provided by ‘foreign’ hand me down stock.

    Get the drift?

  112. Just want to let you know that Mr Wise have purchased a big area of beach front property in St Vincent & the Grenadines. The area is called Blue Lagoon. Mr Wise, locally called “Wiseman” have built several luxury villas, swimmingpool and a guesthouse/hotel. He has got the most expensive car in Vincyland, and a driver with that. All through the years he have been tipping heavily, dropping dollar notes right left and center. This has bought him the eyes and ears of the locals. Wiseman left the position as CEO of the bank 2-3years ago and put others in place. He is connected to the richest families in St Vincent which have bought him protection from being scrutinised by the authorities. They have also gained from this, there are a lot of culprits mark my words but they thought they were just giving him a social network.

    I am convinced Wiseman has a Vincentian passport he knows all the right people for that. But his wife should know he also had a habit of bringing in young sexy blondes to the country on his private jet. They were quite a sight with their high heel shoes on the jetty….

  113. Millennium Bank is now under investigation by the SEC. Also, the government of SVG revoked its licence in 2003 for mismanagement of funds but the bank appealed and got a new license.

    As a national of SVG, I would like to say that our offshore banking laws have been changed and there is now less secrecy and more oversight. We are no longer blacklisted. Also, the unemployment rate has dropped below 22% and tourism has overtaken banana cultivation as the main industry. (pirates of the caribbean was filmed here for pete’s sake)

  114. Parts of the first Pirates of the Caribbean was filmed in SVG. Only very small fraction of 2nd movie. None of 3rd. Unemployment is about 60 – 70 % in SVG. The biggest industry is marijuana cultivation, harvesting and shipment to other islands. And also the reapackaging and distribution of cocaine.

  115. Obumi is obviously on the ground to have that type of detail.

    My issue with the whole thing around Wise and Millennium Bank is that he is not the only one who should be going down with this Ponzi Scheme. All the Politicians who have a habit of telling the nation that they were appointed by God, may have been bankrolled into office by the same Ponzi Scheme. That is, if we care to look a little closer.

    Many connected to the same politicians made a bundle off the same Ponzi Scheme. And what is happening now? The same bunch of bandits are the same ones in positions to put everything in place to keep the man under house arrest with their security. Their choice of Auditors now in place to secure the books, and perhaps clean the files of any evidence of anyone connected to high office. Somewhat like putting the rat to watch the cheese. Some of the same ‘rats’ may have worked for Wise already also.

    Junior would have to be on the gravy train to be making those kinds of bogus statements to deceive the public about proper oversite and all that crap. There can’t be anything transparent about the so called oversite of the Banking Sector. If that was the case why would the designated local authority say that they got resistance from the bank just over a month ago to have an independant audit conducted. I am willing to bet that no legitimate audit has ever been done on this operation since its startup.

    No man, that authority has more important work to do. Like investigate innocent Vincentians who might happen to speak out against the ills of this administration. Like the time they had the offices of PH Veira and Company completely surrounded by a whole arsenal of SSU and RRU with a hell of a set of big guns. Locked of the whole of Bay street and interrogated the man, Brian Alexander, and some others for hours and days on end. Did they not have him under house arrest too? Did they use Guardsmen for security that time?Have we seen anything come out of that fiasco since then?

    Wise has been operating in SVG since 2000 and since this administration got into power, he has been operating with impunity. Not only that, Wises’ lawyer is professionally connected to those in high office. And further, the same lawyer’s sister in law is in charge of the local authority that is supposed to oversee the Off Shore Banking Sector. Is that not a conflict of interest?

    The only time Wise was ever pressured was in 2003, and that had more to do with his not living up to the greedy expectations of those well connected to the politics of the Country. He was also not able to meet his financial obligations in which to operate here. And who was the landlord at the time? Who sold him the property on the waterfront? Has that been paid for yet or will the former owner be able to now move in a seize the property after Wise has spent millions of dollars of investors money on the property. That should not happen, should it? Oh boy, what a tangled web we weave.

    Furthermore, whenever Spirit of Millennium landed at the ET Joshua Airport, the red carpet was rolled out and the underlings in authority at that institution knew to look the other way when the bag men and women came to pick up their stash. The pretty girls in high heels that arrived on the jet were only working girls brought into keep the parasites happy. They were happy to lap up some of the finest and most expensive wines available, and some of the best food at the expense of the unsuspecting investors. Shame on all of them!

    Right now, the British should step in and take back the blasted territory, strip all the criminals of all the noble titles they give them that helped to provide the prestige and privilege that open all the doors for them to run the criminal acts. Those connected to the crime should be tried and punished for their role in the operation of the Ponzi Scheme along with Wise.

    There has to be laws under the International Criminal Codes to hawl some of these bandits before the justice system.

    Enough is enough, and God alone knows that the law abiding citizens of St Vincent and the Grenadines have had ENOUGH of the corruption!

  116. t is with deepest regrets that I am writing you this email. Last Thursday afternoon, March 26th, I was contacted and informed that the U.S. Securities and Exchange Commission (SEC) had been at the Napa, California office. After several hours, and no further communication with anyone, I went online to the SEC’s website and read the immediate release, dated March 26, 2009. In order to inform you of everything that I know thus far, I will direct you to their website and navigate you to the press release:

    http://www.sec.gov

    under the icon “News and Public Statements”, click on “Press Releases”. This will give you the actual Release Statements, the Litigation Release, and the SEC Complaint.

    After I called and spoke with the SEC on Friday, March 27th, they directed me to the following website:

    http://www.tklaw.com/millenniu.....ership.cfm

    It is my understanding that this website is accessible to assist you and I in gathering information as the investigation unfolds. You can contact the controlling Receiver by email at:

    Millenniumbankreceivership@tklaw.com

    Or by mail :

    The Millennium Bank Receivership

    C/o Richard B. Roper

    Thompson & Knight LLP

    One Arts Plaza

    1722 Routh Street, Suite 1500

    Dallas, Texas 75201

    Please understand that I am a depositor just as you are, and not only have I also lost my life savings, I am also no longer employed by UT of S & Millennium Bank. Therefore, I have no authority or authorization to do anything, including any communication with you in any form.

    The websites I have provided for you are all the information I have at this time.

    During my five year employment, at no time whatsoever did I ever see anything in the day to day operations out of the ordinary that would raise suspicion. I know that this is a devastating tragedy for you, as it is for me.

    Due to the overwhelming volume of calls I have received since Friday from clients, coupled with the fact that I have no authority whatsoever, and now the situation is solely controlled by the SEC and the Receiver, it is in my best interest and the interest of my family to change my contact numbers to non-published.

    May God help us to someday recover our monetary loss, as well as our emotional loss.

    Kindest Regards,

    David Jones

  117. Obumi

    where do you get you information from????

  118. The real sad thing about Millenium is that there are so many different currents opinions and information sources floating around offshore that you never know who to believe. Can you trust one person who calls another a scammer, or is he just a scammer himself? Words are freely spread about and taken as fact, without any understanding. Im sure some duped investors believed Millenium bank was more trustworthy just because it was owned by a swiss trust.

    If you cannot trust professionals like lawyers and accountants, if you cannot trust the government itself to regulate these places, who can you trust, other than yourself?

  119. David Jones: Thanks so much for your informative post. It is valuable information for those trying to find out what happened in Napa.

    My question for all is what should investors do at this point? Contact the Receivership and get in line, or get a lawyer of their own?

    Your helpful, professional advice is appreciated.

    Thank you,
    Hal

  120. In the islands, we have a tendency to use different ways of expressing ourselves. And the elders in our society have a saying which goes “when Barracuda comes out of water and tells you that Shark has a tooth ache, you should believe him”. Old people are usually very wise, at least those that I know.

    Early on, when I first discovered this ‘chat’, I identified myself as being resident in St. Vincent and the Grenadines and used the opportunity to caution potential investors because of the movements and whispers on the ground.

    Unfortunately, I was and am not in a position to identify myself by name because of the nature of some of the people involved and what they are capable of. It would be downright dangerous, especially now.

    Mr. Jones: Respect man! I am really sorry that you and other people are having these experiences. I love my Country because there are still a lot of good, honest and hard working people here, and we have been blessed with a most beautiful place to live. Our Country’s involvement with William Wise and Millenium Bank is not representative of who we are as a people on the whole and it certainly does not make us proud to be Vincentians.

    I want the injured parties to know that most of the people that I know in St Vincent are angry and outraged by the entire situation. Some of those same people were sources of information that inspired me to come on this web site and state the position.

    On behalf of all like minded Vincentians, I would like to express deepest regrets and our sincerest apologies to all those affected by this crime.

  121. I currently have or should I say, had two CD’s issued by Millennium. I received the email from David Jones and immediately sent out a submission of claims to the receivorship. I understand the Thompson and Knight website will advise account holders with steps in order to make a claim but I went ahead and sent a certified letter with all my details today just so I could get the ball rolling.

  122. Jessica I to have CDs with mln bank and I also have mailed in the things to get it started.If you or anybody here any news please post this sight.I just hope and pray that we get most of our money back.

  123. Crapaud you are right.

    The truth will never come out. Too dangerous for those that know the truth in Vincy land to speak out. Just look at the newspapers, they are too afraid to write what they know. Not even next week will they write much about this, too fraid of the consequences. There is no free speach in SVG. Free speach is followed by loss of work, loss of friends, loss of land, loss of rights. Applications of any kind made to gov authority disappear, mail sent at post office vanish. People are hungry and desperate and will do anything for a dollar. Reason only 22 % is officially unemployed is that most people would not know where to register (including me). They get by on donations from relatives abroad that send home money. They eat rice and provision and some chicken. They steal from each other, they beg for a dollar, they clean rich peoples houses. Or stretch out the hand for Mr Wise to give them a dollar..

  124. Does anyone have any info? I tried to contact several people but got no replys no-where. seems everything is froxen for the time being. maybe things will work oput, maybe not!! My guess is all of us involved will be contacted sooner or later for instructioms on what to do. Good luck all….

  125. Crapaud says:

    On the local scene, Wise breezed in last Thursday and breeze back out again on Monday morning. Cool as a cucumber!

    Saturday was a free for all for the regular workers, with plenty of give aways. Construction workers who did not have their pay checks honored on Friday, apparently went on a rampage of looting on Monday when the person in charge of the site told them they han take whatever they wanted and they did. The SSU had to be brought in to secure the premises. They are still guaring the property along with a private sevurity firm affilliated with someone closely associated with a Minister of Government, I am told.

    No indication that the authorites paid any attention to Wises’ presence on the island and one can only assume he was allowed to secure whatever cash and other valuables he had stored in SVG, and would have moved out with whatever he could. His forwarding destination is unknown so until further information is made available of his whereabouts, we can only assume that he is on the run.

    Circumstanes are most unfortunate for many of the workers who thought the employment situation was secure. Some of them had quit their jobs in Mustique and other Grenadine islands to work for Wise because it allowed them the opportunity to be closer to family and friends. Now they have no jobs and many have bank committments to meet.

    The situation is rough from every angle.

  126. Crapaud says:

    Tom:

    Don’t assume that anyone is going to contact you. David Jones provided useful information in a recent post. You need to go to the Receivers website that was provided by him and follow their instructions for filing claims.

    A friend of mine went to Millennium offices here in SVG on Friday (27th) to collect a payment and he told me that the shredder was working overtime. Chances are, investor information will be lost in the frenzy of covering tracks. Meanwhile, the Receivers are tying to piece together the entire situation and your information will be vital to that process.

  127. Bud: If I learn of anything I will be sure to post here. This really has me so sick to my stomach, but I should have known better. I will just pray that we all recover at least some of our money and that justice is served here on Earth or on the other side.

  128. Oh Laard help us says:

    Crapaud ….ah bawling……Just heard all the stoories from my family. All round st vincent guys that living in shacks now have flat screen tvs they pull out from wisemans storage when they did not get their paycheck. Oh laaaaaard……them they dont even have current or cable tv but they have 50 inch widescreen flat screen tv covering the wall. when the reality hit the fan the site manager opened the doors to paradise and out came sunchairs sunbeds expensive china wineglasses french wine frozen shrimp bed linen pillows silk sheets. Wiseman got to stay undisturbed in the country so that he could destroy all the evidence …some of the highranking families in the country one of the MOST powerful families, that represents several banks already. Three speadboats have disappeared into the hands of the drivers wiseman had. the cars are parked up in the garage of the drivers. all staff gone into hiding with their trophys, the boats left to be sold in st martin or trinidad. and the luxury villas and the hotel and the resturant and the swimmingpool is all sitting on leased land from one rich family. they are laughing all they way to the bank cause they now just take over the whole property. all evidence been shredded and burnt and local highranking people that had their hands in the jelly is thankful. In six months everything is back to normal. the flatscreen tvs going to rot in galvanise sheds without current, the speed boats going to be running drugs and a new social club will be opening on the former land of wiseman. please someone make us a movie!!!

  129. The Searchlight this week (newspaper)

    Former workers of Tommy and Nelson Legacy Place, sister company of the embattled Millennium Bank, spent the last weekend and the earlier part of this week angry and frustrated.

    Approximately 140 of the company’s employees, including laundry workers, bartenders, maids, waiters, construction workers, and security officers, spent their last day on the job on Friday, March 27, 2009, following a move by this country’s International Financial Services Authority (IFSA) that placed Millennium Bank Inc under receivership.

    According to a release from the IFSA, Kris Beighton of KPMG, Cayman Islands, and Charles Thresh of KPMG Advisory Limited have been appointed as joint receivers of the Bank.

    The Authority is presently assisting the United States Securities and Exchange Commission (SEC) in its investigation into the St. Vincent and the Grenadines registered offshore Bank, after the SEC alleged that the bank deceived targeted US investors in a US$68 million fraud scheme. The bank is owned by William J. Wise.

    On Thursday, March 26, 2009, when workers at Tommy and Nelson Legacy Place, a resort at Ratho Mill, received their pay cheques, little did they know that their employer’s account at the National Commercial Bank (NCB) for that business, as well as those of several other related businesses in St.Vincent and the Grenadines, had been frozen.

    They were thrown into a state of shock when tellers at the NCB requested that they return the cheques to the person(s) who had issued them, because the account was frozen.

    However, Brian Glasgow, local partner of KPMG Eastern Caribbean, told SEARCHLIGHT: “Nobody from KPMG had jurisdiction over that (Tommy and Nelson Legacy Place). We did not have direct jurisdiction over that property.” Glasgow explained that he suspected the Bank (NCB) had reacted to the US Freezing Order to freeze all assets associated with the defendants.

    Irate that the possibility existed that they may not be paid for their month’s work, or for any other entitlements, it is alleged that some employees stormed the premises on Saturday, March 28, 2009, and looted the property of several expensive pieces of furniture.

    On Monday, March 30, 2009, it is claimed that a loaded truck was just about the leave the Ratho Mill property when members of the Royal St.Vincent and the Grenadines Police Force who were dispatched to the resort arrived on the scene and were able to stop it.

    When Searchlight visited the Ratho Mill Property, it was being secured by Premium Security Firm headed by Adolphus ‘Famo’ Adams, who said he was called in on Monday by the Hadley family, from whom Wise had leased the land.

    According to Adams, two other security firms who were at the property before were asked to give way to Premium Security Firm, which was successful in retrieving a significant quantity of the items such as beds, mirrors, tables, mattresses and chair sets which had been removed from the resort and which were hidden in nearby bushes.

    Adams said his security team also had to deal with persons who came with trucks as late as Tuesday night to continue the looting. Up to press time, Premium Security Firm and the Special Services Unit were stationed at the property.

    A group of security officers who had worked with the Tommy and Nelson Legacy Place visited SEARCHLIGHT on Tuesday afternoon, having spent most of the morning outside the Bedford Street branch of the NCB awaiting word on their money.

    When questioned about the looting, they were adamant that they did not engage in such activity.

    They, however, were naturally concerned about receiving their wages. Their salaries range between EC$1,500 to EC$2,000 a month.

    The workers received the good news on Wednesday that they could return to the NCB to cash their cheques.

    “We are happy that we were able to receive a month’s pay, since some of us live from one pay cheque to the next. We will, however, be going to the Labour Department to find out about our severance,” said a security officer who called SEARCHLIGHT on Wednesday to inform us that the workers were at the Bank receiving their money.

    The security officer said while they feel a bit better, some of them are upset that they left other jobs for this one that has not worked out.

  130. Crapaud says:

    Is it that I am just not getting it or is it a conflict of interest that most people would prefer to just ignore?

    How can KPMG (local) be the accountants for Millennium Bank and KPMG (international) be the Auditors. Everybody knows that KPMG local is an affiliate of KPMG International. So what the hell is going on here?

    I can’t see KPMG International acting against the interest of its local counterpart. Apart from that and based on my understanding of the nature of the relationship between the local KPMG man, Wise and other local big wigs associated with the activities of Millennium Bank here in SVG, how can there be any confidence at all that the Receivership process is going to be handled in the interest of the people who suffered the losses?

    As a matter of fact, for an international firm that is supposed to be so reputable, I am very surprised that they did not recuse themselves from this job. That would be the professional thing to do, given that scenario.

    But somebody should really be asking the local man if in fact he was the accountant that was in dialogue with Wise along with another person (a lawyer) until the wee hours of last Friday morning (March 27th) at Wise’s property. They should ask him also, if the nature of the discussion was the development of a strategic plan as to how things were going to be handled in the days and weeks ahead.

    Can there be hope that any of those questions are going to be asked. The way things are going, I certainly can’t see it happening. Instead, you might hear that he ‘fire that work’ some time back and somebody else ‘tek’ up the job. These fellars really slippery. Lord have mercy!

    The other thing that is most objectionable, is when the Prime Minister can misconstrue the facts by making statements to the effect that he was trying to get Millennium out of the Country since 2004. Total nonsense! The Court Case that took place between Millenium and IFSA in 2004, tells a completely different story. It also serves to accentuate the kind of Kangaroo Court that we are capable operating here in SVG. As a matter of fact, that has become a way of life for us. Plenty of people are under pressure because of the corruption in the whole system. Look at what happened to Michele Andrews and her case against the Prime Minister. If ever there was a travesty of justice, that was it. The handling of the Millennium case can easily be put in a similar category. If Millennium had been dealt with expeditiously at that time, the damage would have been at a minimum.

    The Prime Minister is the maximum leader and moreso the Minister of Finance, and it is his job to know and to act in the public’s interest. Instead, he chose to look the other way and allow a feeding frenzy to take place unabated, at the expense of investors from foreign. You can’t see them so who the hell cares about their losses and their pain, seems to have been the attitude.

    Ah sorry to say but the buck stops right at the Prime Minister’s desk. The international criminal court should be the ones to deal with him and his role in this entire matter. If they can’t get him for being a participant, he should be held reponsible for gross negligence while in office.

    The other statement that he made that is really grievious, is the one that exonerates SVG from all responsibility for this crime. He had the nerve to say “We have dealt with all the regulatory issues properly. The wrong doings which has been alleged in the complaint has taken place in institutions based in the US” (Associated Press – March 27th). So where was all the money spent and where did it come from?

    I would not like the investors to see the bills for what their money was spent on. The fireworks alone that were used on ‘Tommy and Nelson Legacy Place’ New Years eve party had to be worth more than 50K. Fireworks were still going on past 3:00 AM, even after all the other establishments in the area had closed down and the workers had long gone home. I heard that champaign was flowing like water. Was the Prime Minister and other local dignitaries celebrating at Wise’s property that night also? If so, who were all the persons there?

    What about the wine cellar in the same property? Isn’t it amazing how fast some of these local bandits are able to acquire expensive tastes? Who paid for all of that? Not the investors? Did it not all take place under the watch of this same Prime Minister. This is a little two bit Country, not a single thing happens without the whole country knowing. And better yet he has all the security forces and Special Branch people employed specially to keep him informed.

    Is it not the same reckless behavior that caused the IFSA to revoke Millennium’s operating licence in 2003. I wonder what direct and indirect benefits were derived from putting some lackeys in control the IFSA? Did the person in charge of the IFSA ever fly in the Millennium Jet, and if so how many times and where to?

    How many people know that the Millennium establishment gave new meaning to 24 hour service in SVG. Some of the kitchen staff were reportedly on 24 hour call. So if one of the guests wanted a gourmet meal at 4:00 AM the Chef had to get his b-hind out of bed to make it. And who is this ‘Tommy’ and ‘Nelson’ legacy that this free hotel is named after anyway? We need to ask those kinds of questions also. It might shock us to learn the answer.

  131. I hope someone will show the US bankruptcy lawyer what is going on in SVG. First of all, the resort that Wise built and that is described above, is sitting on leased land. Now, will the landowners – the Hadleys – be able to just take over the property now valued at millions of dollars and run it like their own? SEC should have someone buy the lease which should net a couple of millions of dollars to the people that lost their property. Second, send some US officials down to SVG and ask to visit all the employees of the bank and the resort with police. There are cars missing, speed boats and furniture for hundreds of thousands of dollars. Act fast and some of it can be recovered. But most of all do not just give this resort to the land owners that have leased out the land and collected money on the lease already. They are filthy rich already. Do not give them a fully functional resort that have taken two years to build and millions of stolen dollars. Offer it to buy, or sell the lease to someone else.

  132. Offshore Banks Under Controllership
    Millennium Bank Inc. 32 BK 2000

    Financial Service Center
    Stoney Grounds
    Kingstown, St. Vincent
    Tel: (784) 451-2100 Fax: (784) 451-2101

    Website: http://www.mlnbank.com
    Email: client-service@mlnbank.com

    Contact: Mr. Marcus Ballantyne
    Controller of Millennium Bank Inc.

    Mr. Isaac Legair
    Suite 104, 97B Granby Street
    P.O. Box 1639
    Kingstown, St. Vincent
    Tel: (784) 451-2645 Fax: (784) 485-6591

    Email: dennings@vincysurf.com

  133. Crapaud says:

    On a technicality, Victor Hadley would probably like to fool the public into believing the lease hold story. Yes there WAS a leasehold but it is now a purchase arrangement and my understanding is that the purchase price was 20M, or there abouts. Approximately seventy five percent has already been paid but the technicality is that the Deed has not been registered. More than likely, that would be one of the documents already shredded.

    Which idiot would spend that kind of money on a property and not own it. And besides the purchase price is wayyyyyyyyyy over the top. Victor has to be a conduit for funds intended for other people. Wonder why Wise still doesn’t own it? Well the Receivers need to ask the Government if Mr. Wise has gained citizenship for St. Vincent and the Grenadines, there might be some answers in that. The other thing that they need to do is to follow the money. Victor Hadley has Bank accounts all over the world, including the UK and Canada. They should get all the names of all his family and friends, including the former daughter in law in the UK that is fronting as an agent to get big commissions on the sale of lands by National Properties Ltd. Victor Hadley should not be allowed to get away with investors money so easily.

    When people start acting dishonestly, it is very difficult to divert from the dishonest behavior, because the preditors are swarming all the time, like bees to honey. Take for instance the relationship between Wise and the GG. Wise couldn’t get enough money to satisfy that kind of greed, and that was reason for the Court case in 2004 and he was the ‘then’ landlord. All the reckless behavior they were talking about in the 2004 clamp down; if the authorities can follow the money they will know who are the real beneficiaries of some of this money. Rumour has it that the accountant that had done the report for IFSA at the time was ‘spot on’ in his assessment of the situation but ‘money’ compromised the judgement. I heard that the then ‘landlord’ even laid own a threat on the same accountant who worked on the case.

    These bandits are not easy. They are lord and master of all they survey. How so? Well check the secret societies. If you don’t belong to one well you can’t get anywhere, no matter how hard you work. When you are on the top, all the underlings have to submit to you regardless of what positions they hold. And that is how the crime is being operated in the Country. Sometimes people can’t even live an honest life in peace for these people because if you don’t tow the line you can’t eat.

    The poor fool Wise thought that he was in control but he was in so deep that the only thing that he could do was to get better at convincing people to invest their money with him. Once he was on that bicycle he had to continue peddling to avoid falling down. Don’t get me wrong, he was satisfying his own ego too and boy did he enjoy the high life and being able to feel important. Flying around in big jet and ‘ting’ and the natives bowing down to him like he is King Tut. That is all there is to it. And don’t fool yourself into thinking that Ralph is any different. With only a few minor differences, he epitomizes King Henry V111.

    The bottom line is that Wise dropped some real money in this Country and the challenge is to find out where it was spent, for what purpose and how it was moved. Once the Receivers can follow the money, they would be able to link all those involved in the crime. And all those who might have had money arrive in their account without proper accounting as to the source, arrest them too for money laundering. Ask the Prime Minister how his wife’s property at Cane garden was paid for and things like that.

    As to the so called ‘land lord’, you will hear more about him. Between he and the PM, they started a company called National Properties Limited and tranferred all the land that is owned by the Government or should I say the people of SVG into that Company. They hatched a plan to develop a big Airport to distract people, while they loot the nations coffers. They say that they are selling land to build the big Airport but when the bottom falls out of it, there will be no Airport, the land will be sold, National Properties will be bankrupt and Victor will retire on his ‘investments’ in the UK, or Australia or Nova Scotia…. or whereever.

    As a citizen of the World, I trying to find a human rights organization that will take up these matters before it is too late. Before it gets to the stage like Haiti where they will have to deal with a set of starving people, rioting and looting in retaliation. I know we are only a little speck on the map but it would be cheaper for the developed nations to deal with the ‘problem’ now rather than later.

  134. The people in Binginton NY know how to take care of business. Do the folks at M bank know this could happen in a NY second? It’s your money, or your life!!!!!

  135. does anyone have any-more info??

  136. Crapaud says:

    I was able to pick up a news link for the the ‘Observer’, that gives a wee bit of information on William Wise. The link is http://www.newsobserver.com/ne.....71105.html. It is captioned “Raleigh man accused of $60 million fraud”. Here in SVG, we don’t have a whole lot of information as to Wises’ background so that little piece of information was enlightening.

    Apart from that, St Vincent is as quiet as a graveyard. Every body seems to have burrowed under, waiting for the storm to pass. Even the Prime Minister is as quiet as a mouse. And you wouldn’t know this but he likes to talk a lot. He is usually the great explainer. In fact he talks so much that people now turn off the radio and television when he starts to speak. The only two leaders we know who like to talk as much as him are Hugo Chavez and Fidel Castro. But he is very quiet now.

    The local news this morning reported that he went up to Antigua in recent days. We suspect he went there to familiarize himself with the proceedure that is taking place with the Stanford matter. That is of course to prepare himself and others as to what is to be expected when the US authorities arrive here to do their own investigations.

  137. Thanks Crapaud, I have tried calling everywhere and get no respond. The SEC did call me and I had quite a chat w/them. They were cool. I told them they should put some info out as to what is going on and to keep the investors up-dated. He said he thinks the judge will do something like that soon. There is a lot to this and I am sure it will take a while. I recently invested three 1/2 weeks ago. What bad luck!! Every dog has it day though. If I were them, I would be VERY scared for my family. There are a lot of crazy’s out there and if it takes a month, year or several years, someday, some time, one of these dirt-bags family member will turn up missing. In my youth, I owed someone $40.00, I blew them off after another warning I still blew them off. I did not have the 40 bucks. A few days later they went to me elderly father’s house, dragged him to the middle of the street and nearly beat him to death. I got the cash the next day. And paid them off!!
    Like I said, some people play for keeps. I wouldn’t want someone killing me for what my dad did. But when it comes to family, I guess they find money more important then family. Good Luck all

  138. Crapaud says:

    The SEC should investigate the other four (4) offshore banks operating in SVG. Prior to the revokation of Millenniums operating licence, there were 6 banks licenced to operate here. United Trust had its licence revolked along with Millennium, they say because of some ‘uncertainties’ around ownership of the bank. However, it seems that two of the persons that were associated with United Trust were listed in the Court action brought against Millennium Bank. Those persons were Philippe Angeloni and Brijesh Chopra.

    There are ‘whispers’ around the place that the Governer General is involved in the ownership of one or two other banks that are currently operating. Of couse there will be other persons fronting for him because according to the laws, locals are barred from owning offshore banks.

    The Court file for the case against the IFSA by Millennium Bank in 2004 has one financial statement listed as an exhibit and the lone signature that signed off on the financial statement on behalf of Millennium Bank was none other than the same Freddie Ballantyne prior to him becoming GG.

    The GG’s son was listed at some stages as holding positions with Millennium also. The same son provided services to Millennium under the cover of International Financial Services Inc. I am willing to bet that IFS is involved in providing professional services to other offshore banks here.

    The Governor General’s position is a political appointment and a very privileged one to boot. How would F. N. Ballantyne get the postion unless of course he has done exceptional favors for the ruling Party.
    Subsequent to his appointment, the man shocked the whole nation with wanton abuse of the privileges. No time would he travel without outriders with sirens blasting in front of his vehicle and always overtaking long lines of vehicles in rush hour traffic. He even takes them along when he is invited to private parties by ‘friends’. Would you believe that?

    Don’t talk about the espenses that are being incurred by the Office these days. First Class everything and using the position to promote his personal interests. One would think that St. Vincent owns a few oil wells. You would never believe that this is a piss poor Country.

    The SEC needs to do a proper investigation of all the characters that are/were associated with Millennium. Run checks on all of their bank accounts everywhere as well. Forget about who is holding what position because very likely it is just a cover for dirty deals.

  139. bud says says:

    Jessica,
    Did you get back anything from Mr. Roper on receiving your certified letter? If you want to email me direct at jimmy_bud1@yahoo.com or you can post here if you want.My wife and I are not doing very well with this.Its about to get us down,we are praying for all of us to get are money back.I am 50 years old and have done alot of bussiness with banks,but these people have no soul in their body.And they pretent to be christian people. Lord help them and us

  140. im concerned also i have alot invested in this supposed called bank im trying to get infor also

  141. Crapaud says:

    I want to suggest that this blog be turned into a support group for all those persons who have been affected by this crime. It seems that persons are really stressed out and feeling really damaged and so they need some help. We don’t even know the extent of the damage to some of these investors.

  142. Bud,
    I have yet to hear back from Mr Roper. I understand they probably can’t and won’t reply to all their mail, but some sort of response would really be appreciated. The Receivership’s website still offers no procedures for us to file a claim either. I am guessing we should know something soon, I hope. I am also terribly sickened by this. I put all of my inheritance from my grandfather’s estate into this. What a loss. I will pray for us all and for the people working towards justice. I will post if I receive anything from the lawyer. It would be a great idea to start a support group as Crapaud mentioned. My email is jessica_bgs@hotmail.com. God Bless.

  143. my family lost every penny in this. If anyone has any information or hears anything at all please, please, please contact me at gucci115@aol.com

  144. Bud:
    Mr. Roper’s office just received my certified letter on April 7. So I will give it a week or so to see if I hear back from them and let you know. David Jones kindly sent out an email stating investors should be receiving a questionnaire from the SEC in the mail soon.

  145. i think a lot of people knew or suspected that something was not right and no one thought to call a lawyer or the local goverment.

    now all the money is gone. i warned my parents but i can see how this was so tempting for them and everyone else.

  146. i heard from someone on this board that their bank accont was tapped into . i recommend everyone check for thier withdrawl information.

  147. bud says says:

    jessica,
    I tried to email you direct, but I am not sure you are getting it.If you are not than try to email me and see if I can get yours at jimmy_bud1@yahoo.com

  148. Here in SVG, it makes no sense calling a lawyer or the local government. If we want a lawyer we have to go somewhere else in the region to get one, if we can afford it.

    The local Government? Ah boy, those are the real crooks. That is the reason why we have to put our information out into cyber space so that people can understand what’s going on here. And you can forget about the police, the politicians employ them.

    If anyone wants to understand what St. Vincent and the Grenadines is like these days, Kathy Marks, in her description of the residents of Pitcairn Island in ‘Paradise Lost’ (pg. 165) sums it up very accurately. In essence that is what the US authorities are likely to find in the local authorities handling the Millennium matter, when they get here.

    She said …..”The islanders assiduously nurture their myth. They even have a term for it: “hypocriting the stranger”.” and went further to say “They pretend to be simple, unsophisticated folk. But they are actually shrewd and manipulative. They are professional charmers.

    SVG is not far different than Pitcairn, only on a larger scale and not as isolated. In fact the irony of the situation is that St. Vincent was the destination of the breadfruit plants that was transported by Capt. William Bligh in the famous story of ‘Mutiny on the Bounty’.

    Inspite of all the anti Colonial talk, we have not really moved on from those dreadful days of Colonial rule and ‘Pirates of the Caribbean’. This is just how our society has evolved. When you hear them fellow talk about enobling the Caribbean Civilization, that is a load of bull
    s–t.

    Every day they are honoring each other and wanting to make themselves National Heroes.

  149. yes i know the most islands are corupt but most of us who invested are americans and as i said before a lot of poeple knew and did nothing. but the thruth will come out soon.

  150. Outraged says:

    I pray that justice is served. Hopefully the other “Millennium Banks” out there are stopped ASAP!

  151. as most of you know because I have contacted you my parents were scammed out of 560,000 thousand and now have nothing. they wanted to make some extra money before retiering and the intrest would allow to leave some inheratance for my borther.

    I work for the federal goverment in DC. My husband does as well, in fact he is part of the internet fraud team. The issue here is altought the American gov. is invloved we can not regulate banks/website from other countries even if they are scaming against US citizen. the US does not have any authority over this bank or other bank. Most presciption drugs that are sold illegally via the net have the domian of the website registertred to a diffrent country for this reason too.

    The goverment is involved in this case because luckily the money never went to this bank, but the bank website will continue to opperate as it still does.

    It is very sad to learn the lesson this way. I warned my parents but they chose not to listen. When you do someothing high risk at times you do pay the price.

    I will be paying the price as well , as now I have to support my family. I hope others can learn from this and realize the USA is as good as it gets, we may not have the best % in our banks but at least we have a decent goverment system that can help us if we do get scammed.

    if i hear anything new i will post.

    -Olga

  152. Someone who seems to have a lot of information told me a couple of days ago that Wise had established Banks in other places as well. One is supposed to be located somewhere in Eastern Europe and another in Turkey, on an island in the Med. that is shared with Greece. Apparently the SEC seems not to be aware of these establishments and I was told that they aught to be. I am only the messenger on that piece of information.

    I know for sure that our Prime Minister went to Turkey on a couple of occasions and we were quite befuddled to understand the reasoning behind it. In fact one such trip was taken in the wake of the rape allegations against him by Michele Andrews. All of the photos that were subsequently published in the local press featured a very pious looking Eloise making sure that she kept her place a few feet behind her husband, the accused Gonsalves. All of this was featured in some kind of religious context and the PM was trying to look kind of apologetic and remorseful.

    But what could have been the reason for that trip to Turkey?

    Other locals went there as well, including another of the shareholders of Young Island Resort and long time business partner of Freddie Ballantyne. What would be the purpose of that individual being in possession of a diplomatic passport?

    It is interesting to note that Sir Frederic Ballantyne, the Governor General of St. Vincent and the Grenadines and representative of Gueen Elizabeth 11 of Great Britain was the President of Millennium Bank long after he became Governor General in September 2002. Some of us are wanting to believe that he is a shareholder of the Bank. Everything else seems to be in place, all we need to have to confirm it is the physical evidence.

    I was told that the SEC must check on the ownership of the United Trust that is supposed to be registered in Switzerland. Further, the authorities will not necessarily find it registered in the usual way that banks are registered. Apparently, it was some other kind of business and there were a couple of name changes and then it arrived at that name. Perhaps that is the reason why the Swiss Banking Authorities are having difficulty identifying its authenticity.

    The British Crown had better watch all those titles they are sharing away at the whims and fancies of third world politicians. Especially those who learned only too well at the hands of Colonial Rule. It is making a lot of us in the former colonies feel slighted all over again by the British, in that there is no due diligence to handing out these titles except for a recommendation by a politician. And with that, I want to remind the British that they have a major responsibility to the Citizens of former Colonies. Not in the form of a check but they have to correct some of the mistakes that they made in the past that are the cause of some grief on the part of Commonwealth citizens, even after all this time.

    They can start by retracting some of the fanciful Knighthoods that were lavished on the likes of Allan Stanford and Freddie Ballantyne The latter is just another lazy bastard who happens to have a PHD. All that he has going for him is his PHD but I have been made to undertand by reliable sources that his homework was done by lots other people, while he pissed his time off hunting for the next pleasurable experience between the sheets. He has a big ego, likes the enjoyment of material comforts, women of fair complexion and last but not least, to be treated as if he is someone important. He is really a very egotistical assh— with not very much substance to his character at all.

    If anyone wants to have a good look at his professional accomplishments, take a tour of the Kingtown General Hospital now Milton Cato Hospital where he served as the Administrator for eons. You will suddenly realize that these kinds of people are not capable of of fulfilling any responsibility of any circumstance. A simple portfolio of providing health care for a small population and future development thereof. It is not rocket science.

    The one good thing we had going for us in SVG was the Kingstown Medical College and both the Governor General, Sir Frederick Ballantyne, and the Prime Minister, Dr Ralph Gonsalves, managed to get rid of them so that he Freddie Ballantyne could start a ‘Trinity University’ School of Medicine to make money for himself and to make excuses to the Nation as to the loss of the KMC. Now Vincentians have to go to Grenada if they want to have proper medical attention and have access to specialized medical professionals.

    Apart from that, loss of the Medical College operation here is having serious impact on our tiny economy. Banks are foreclosing on people who facilitated accommodation and other services to medical students. All legitimate business and all gone because of greed and selfishness on the part of Ralph Gonsalves and Freddie Ballantyne.

    There is not a caring bone in the bodies of any of these people but they are very capable of bul s–ting any unsuspecting individuals who are likely to be swayed by the titles and ‘accomplishments’. And they have been able to get away with it this long because as the old people are used to saying “in a blind man’s country, a one eye man is King”. That is the reason why we have children coming out of high school that are not able to read but yet, they are boasting about a ‘revolution’ in education under their stewardship.

    Those fellows need to be publicly humiliated for their crimes. The world needs change and no better place to start but with the criminals at the top of the food chain.

  153. it is a fact, that the US goverment will not go after any bank in another country. Not our role, trust me this is my job in the US.

    Furthermore, if anyone did a search on google you can find stock scam run my this bank back in 2002 and guess what it went to the SEC and again nothing can be done because it is all off shore!

  154. have anyone read about the new tax relief the IRS will do for all victims on ponzi scam. this is minimum help but it allows us to write off what we lost. you can google it

  155. The way I understand it is you can go back 5 years or go foward up to 20 years and write off all your ponzi loss after we find out what the SEC will gather up off these crooks and return to us.My hope and pray is that we wiil not have much to write off if somehow we get a miracle from GOD and these people return our money.They should try to do it so they might recieve less jail time.
    Also any interest over the past years that you thought you were earning and reported to the IRS on your taxes.The way I understand it these are called Phantom profits and you can go back and take those off your taxes on an admendment. I am going to my tax man next week and have these removed and get some money back.
    Check with your tax man and you can do the same thing.GOOD LUCK TO ALL AND KEEP PRAYING

  156. Vincy_2_D_Bobe says:

    Good grief !!! What have we come to. I am ashamed to tell people where I come from after reading about this.

  157. The current government and its cronies in St. Vinanct are clearly dishonest. Crapaud’s great posts exhibit the type of people that are down there. In St. Vincent, your money is’nt safe. In St. Vincent, your investments are not safe. In St. Vincent, your LIFE is not safe. Drugs and AIDS is rampant. People are not educated properly. How come the “public transportation” is so thugged out in St. Vincent? You don’t see that in any other country in the Caribbean. The culture has degraded along with the banking system. I am sorry to all of you who lost money with this scheme… orchestrated in part by Vincentians. I hope the USA will get to the bottom of this.

  158. My friend works for the government in the office of Finance and Planning. This friend told me the current administration is emblezzling money left and right. For example, if they get monies from the EU or UK for training, or some other public program, those funds gets diverted to bank accounts of people within the current administration. In order to account for the money, they then write up numerous “per-diems or other bogus records. They then organise a nominal group of people to make the purpose of funds look legit.

    Meanwhile, my friend makes only $250US per week, while these big shots are living it up, first class style!

  159. Bombo: I would believe that. That’s just how these bandits operate.

    I received an email today advertising a Furniture Sale to be held at the Millennium Bank former offices tomorrow, along with an entire listing of the items. Well I think they are going to have to find a lot more furniture to sell off to pay the Receivers that they hired to shred all the information that was important to the case. I hear they were shredding documents morning, noon and night. By the thime the Americans arrived, nothing of real importance as to the St. Vincent Operations, was left.

    Someone told me that the Governor General has already made arrangements to take over/lease the Tommy and Nelson Legacy Place from Victor Hadley, to house the students that are enrolled at the Trinity University that he started with a few other bandits. Don’t take that as gospel yet but anything is possible.

    I heard also, that the Lawyer boy for the Bank done craft up some ficticious lawyer bills, in order to lay claim on the power boat that is still hanging up on the jetty of the ‘Legacy’ Place.

    Those fellows have absolutely no shame at all and they don’t waste any time either. They take it right up to the wire and dn’t ever stop until they suck every piece of marrow out of the carcus.

    You know, the GG was featured on the website of Millennium Bank as President long after he was appointed to that position. Both he and the Prime Minister had letters up on the site saying that people can feel confident to invest because Millenium was a Bank of integrity and with all the oversite and good governance that we have, nothing can go wrong. Your investment would be safe and secure. Lord have mercy!

    You know the IFSA had pulled the license in Nov. 2003 and Wise appealed to the Court in 2004 to have it reinstated. As a Vincentian, I am ashamed to say what happened to that case. Even the Financial Statement that they put on the Court Files were signed of on by Freddie Ballantyne. His was the lone signature on the Financial Statement. And it don’t take any big business mind to look at those figures and see that the Accountant was absolutely correct in his assessment of the situation.

    Did the Court see it fit to rule in favor of Millennium based on Wise’s word alone that the Accountant was not qualified to make such an assessment? I guess we will never know! The Judgement,, it seems, has been misfiled. What do you know!

    We have to do something to catch these bandits. I am looking for an original prospectus for Millennium Bank that would have been published anytime after 2004. Anyone who might just have one in their possession, please notify me on this post so that we can arrange to get from you.

  160. I have been contacted by email to join a growing list of investors in this scam to file a civil suit against the KMPG accountants. If you are interested in joining this, please contact George Grabek at lickety@embarqmail.com or call him at 850-671-2222. I just got off the phone with him and he will fill you in on all the details. The lawyer he is dealing with is currently working on the Madoff and Stanford law suits as well. It is worth a try and he needs enough authorizations in order to make this happen. Thanks -

  161. Jessica: Why don’t you suggest to those lawyers to look into the possibility of bringing a class action law suit against the Government of St. Vincent and the Grenadines. After all, it is the Government of St Vincent and the Grenadines that provided the opportunity for you all to be ripped off by Millennium. Here is the text of a letter that was up on the Millennium Web site by the Ralph Gonsalves, Prime Minister:

    It fills me with a great sense of pride to know that St. Vincent and the Grenadines had played a leading role in the establishment and the development of the East Caribbean Central Bank (ECCB). The ECCB promotes and maintains the monetary stability of the single common currency (The East Caribbean Dollar) of the group of the eight small island economies, including Anguilla, Antigua and Barbuda, Montseratt, St. kitts and Nevis, St. Vincent and the Grenadines.

    The Europeans in the development of the Euro recognized the sophistication of the East Caribbean single currency and used it as a model. Such are the high standards that we have addhered to in the domestic finance sector in st. Vincent and the Grenadines for over twenty (20) years now.

    My Government is committed to ensuring that our international banking sector is equally cridible and reputable as the domestic banking sector. which is supervised by the ECCB. It is for this reason that we took the stragegic decision that the ECCB should have a significant role to play in the supervision of the international banks in St. Vincent and the Grenadines. In fact the deputy Govenor of the ECCB, Mr. Errol Allen, is also a member of the Offshore Financial Authority (OFA) Board of Directors.

    My Government is cognisant of the great value the international banking sector brings to the economy. International banking generates great opportunity for Vincentian professionals, in particular those with accounting and legal backgrounds.

    The jurisdiction of St. Vincent aand thee Grenadines is an excellent one in which to conduct reputable offshore banking business. St Vincent and the Grenadines demonstrates the best practices of “good Governence”. It is a Country of political stability. it possesses a talented and magnificant people.

    It gives me great pleasure to welcome Millennium Bank to St Vincent and the Grenadines and wish them the best success.

    Sincerely yours,

    Ralph Gonsalves

    The other letter that was up on the website as at Sept. 15th, 2003 was that of the President of Millennium Bank, Dr. Frederick Ballantyne, the then Governor General of St. Vincent and the Grenadines, and it reads as follows:

    On behalf of Millennium Bank and Trust we welcome you to our website. We are a full service bank domicile in St. vincent and the Grenadines with experienced and caring staff ready to cater to your needs. Recent Government legislation supported by us, ensures that only banking institutions of the highest integrity can exist and prosper in this jurisdiction.

    Should you choose to do business with us, we guarantee that you will be satisfied with the quality of our service.

    Please feel free to contact our office at any time for further information.

    Signed: Dr. Frederick Ballantyne Bsc., L.M.C.C., MD (Internist Cardiologist)

    President

    It does not get better than that!

  162. Crapaud, thanks for your post. I will forward the information on. Reading that just makes me cringe! You are correct in saying there is a bigger fish to fry…….I will post when I hear from this lawyer in Boston. Thanks.

  163. kentucky girl says:

    jessica i have cds also with millenium bank will you give me your phone number so i can talk to you on the phone

  164. Unfortunately I am another investor into Millennium Bank’s CD’s. Could anyone tell me if you have received a questionaire from the SEC concerning this fraud. I have not received one as David Jones would have us believe. It seems some investors have retained lawyers that are communicating with the United States Court (Federal). I would appreciate getting more info from other victims. My e-mail is:ann1liese@yahoo.com.
    thanks

  165. Kentucky girl and Anne: Please email me at jessica_bgs@hotmail.com or you may call my cell at 432-517-0413 CST.
    Thanks,
    Jessica Price

  166. Thanks guys for the detective information so far. This Millenium Bank offered me a Credit Card line of $5000 and I dont know if to accept it or not.

    Please I need advice.

    Thanks

  167. Beside following the instructions on the receivership website, are you all doing something else? I have lost 60k in this scam and it’s devastating. I just saw the forms to fill out on the site, but don’t want to miss out on a class action or other steps being taken.
    Thanks to all of you for posting.

  168. kentucky girl says:

    were trying to dee give me your phone number i dont like talking on computer ive talked jessica and george and call me at 270-676-3432

  169. Babs Boy says:

    Hi Jessica,

    Thanks for the enlightment. I really appreciate it.

    Cheers!

  170. I have heard through the grapevine that David Jones has heard of this growing group of investors seeking to file a civil suit and may want to join the cause. He will be meeting with Keith Miller, the attorney in Boston, soon. David wants to get all the info regarding this potential case so that he can contact his list of investors and give them more details.

  171. I’ll keep checking back here for updates then. Thanks.

  172. Crapaud,

    We appreciate your blogs and we are working at getting some awareness of the true pirates of the carribean Gonsalves and his evil henchmen trust me you are not the only one from the island that is trying to get justice for these wicked pirates/government officials. We are sharing the information with the SEC and attorneys who are working with us about the class action law suit. We are also aware that some of your locals are in fear of their lives because of coming forward with the evidence against the evil government. I liked the comment on the opposition radio quoted in the caribbeannetnews that Gonsalves is a “Dumb Leader”…. If any victims reading this would like to join our group in a civil action law suit please email us at lickety@embarqmail.com. Our attorney is working on the Madoff and Stanford ponzi scams as well.

  173. I would like to know the boston lawyers name who is filing the civil suit. if anyone has any info please reply. Does anyone know the whereabouts of william wise?

  174. Mark: his name is Keith Miller.
    http://www.bostonaccidentinjur......html#more

  175. Mark,
    The lawyers name is Kieth L Miller out of boston MA. We just googled his name and put from boston MA. and we found him.His phone number is 617-523-5803 join with us other victims in trying to get our investments back. Its the right thing to do. Email me if you want at jimmy_bud1@yahoo.com and we can talk further. And that also goes for any other victim as well.AS far as wise goes, we figure he is hiding ,just like a rat would.

  176. Lickity:

    Glad to be of assistance man. We are all in it together because we in SVG are being ripped off by those bandits every day. We can’t let them get away with this. This is organized crime we dealing with here, and on a grand scale too.

    As to the opposition party talking about Gonsalves being a ‘Dumb Leader’. Dumb leader what?! Gonsalves out smarting the opposition left, right and center, so they only fooling themselves when they talk about ‘Dumb Leader’.

    Why do you think that Gonsalves and his clique of bandits have been able to get away with so much crime for all this time? Eustace is only doing an injustice to Vincentians. Do you think that Ralph and the ULP have any time to waste with Eustace? If Eustace had any viable leadership to offer, Ralph would not be in office.

    As we speak, Mr Freddie (the Governor General) is already high and dry in a first class suite in a first class hotel in London. He is awaiting the Prime Minister’s arrival in London visiting to Rome to meet with the Pope, Iran to have talks with the leader there and Portugal, he said to find more investors for the country’s tourism development.

    All first class at the tax payers expense. No doubt some other scam they working out together. Like how they going to orchestrate the rigging of a referendum later this year to put a new Constitution in place. More power again in the hands of the Prime Minister to hold the Vincentian people hostage in a corrupt dictatorship Government.

    Taxes from me but also from the little old lady over the road, whose galvanized roof leaking so much that she has to put every pan and cup all over the place to catch the rain water, and still she getting wet in her bed at night. She can hardly afford to buy a pack of tea bags in the grocery store but she has to pay the VAT on it anyway.

    You think it easy for some of the people who lost money in the Millennium Ponzi. Some people finding it real hard. Just imagine you work so hard to save a few dollars and these bandits just come and wipe you out, one time. And the hurtful thing is the kind of wastage and the the excesses. Man it just grosses me out just to think of it. And it unfolded right here.

    Some body has got to take responsibility and this is my list:

    The Prime Minister, Ralph Gonsalves and the
    The Government of St. Vincent and the Grenadines
    Frederick Ballantyne – the Governor General
    The IFSA
    Sharda Bollars in her capacity as head of the IFSA
    Marcus Ballantyne and his International Financial Services Inc.
    Graham Bollars – the lawyer boy
    Victor Hadley – the crook who stole the Legacy Place property back from Wise.
    KPMG (Brian Glasgow)

    Correct me if I left out any body.

    Freeze all the foreign bank accounts for Freddie Ballantyne, Victor Hadley and Bollars. By the way, Bollars ex wife catching hell to see any headway in the divorce case against Graham. In spite of all the ‘big wuk’ he getting from the government every time the PM decide to bring a law suit against some innocent person who might have something to say that the PM don’t like. This Bollars boy does rack up some bills to thief tax payers money. Dread! I hear bills coming in for all up to $15K just to write a letter.

    This boy just don’t want to provide properly for not even his little children. And his ex is a really nice girl. A real decent person. The boy is just worthless. Thoe lawyers are a real worthless bunch because if they were representing the girl properly, the matter would have been settled already.

    I still want to know where is the Judgement for the case that was brought against the IFSA by Millennium Bank, appealing for the reinstatement of their licence in 2004. That has an important story to tell so it has been made to disappear from the file in the Registry.

    There you have it, a short list of the home grown gang of thieves here in St. Vincent and the Grenadines that were involved in the Millennium scam.

  177. Jessica says:

    If you were an investor with Millennium Bank and seeking an additional avenue other than the SEC to pursue your loss, please contact me at jessica_bgs@hotmail.com for further information. Thanks.

  178. THANKS CRAPAUD FOR ALL YOUR INFO!!! I WISH I WAS THERE TO MEET SOME OF THESE CROOKS FACE TO FACE. MARK!!

  179. Crapaud says:

    Mark:

    I believe that anything is possible once you work hard enough at it, and all the right things are put in place to create the environment for it to happen. Who knows, it just might work out in the best interest of everybody and you may be able to meet the crooks face to face.

    I remember a situation that existed here a couple of years ago with the most senior lawyer practicing in SVG at the time. Another example of the crookedness of lawyers in this country.

    Anyway, this Lawyer was was taken to Court over a huge land deal with some Danish investors. The lawyer had stolen about EC$6 million from his client, the Danish entity.

    The Danes were being represented by 2 QC’s from Trinidad and the Lawer was represented by 2 QC’s from Barbados. When the case was taking place, I had the opportunity to speak with the Senior Council for the Danes and challenged him as to the anticipated outcome of the case.

    I had very stong feelings that they were going to let this Lawyer off the hook as is the norm when people in high positions get caught in these types of crime. Further to that, I challenged him that the lawyers would always cover for lawyers and especially in the case where he was the most senior lawyer practicing in SVG.

    The lawyer in question had plenty in his favor, in that he was very influential in the region and was even serving on a regional committee to select Judges for the Caribbean Court of Justice (CCJ). The same entity that some of these political types want have replace the Privy Council as the highest Court of Appeal.

    He said to me “That will never happen, trust me on that”. But i still didn’t believe him.

    To my utter amazement, when the judgement came back the Lawyer was ordered to be disbarred and to repay the Danish people their money plus interest.

    He subsequently appealed the Judgement and the matter found it’s way all the way to the Privy Council in London. Again, the PC upheld the original Judgement and he was ordered to pay the Danes EC$20 million, which included the principle amount plus interest, 13 years worth of interest. He was never able to practice again and he lost all his credibility.

    A perfect example of how to make crime unprofitable.

    This Millennium Bank crime has to be dealt with decisively. If not, the implications will be too dire for too many people. And if that is to be the case, as a nation and as a region, we are going to be in serious trouble. I don’t know how many people are looking at it in this way, but we crossed a line here, and a very serious one too.

    This crime was able to take place because too many people looked the other way and swept things under the carpet for too, allowing the feeding frenzy to take place, unabated. All the crimes against humanity in the world is because situations like this were allowed to be swept under the carpet. Until of course it gets to a point where there is no turning back.

    That approach has to be stopped or we will be on a collision course with disaster.

    In this same vein, I just want to let every body on this thread know that I am getting a lot of feedback from people on the ground that they are not happy with the situation with Victor Hadley and the possiblity of him getting away with the ‘Legacy Place’ property. People in St. Vincent, it seems have had enough of Victor Hadley and all the wheel a dealing that he has been doing with the State lands and making himself richer by the hour at other peoples expense. I hope the SEC is checking on the Bank Accounts in the UK and Nova Scotia.

  180. CRAPAUD:HAVE YOU EVER SEEN WISE”S WIFE IN SVG?TELL ME MORE ABOUT THIS RESORT HE WAS BUILDING

  181. disgusted in Virginia says:

    Crapaud,

    I am disgusted and appalled in reading of the SVG gov’t dealings and corruption you are detailing. It sickens my stomach. You mention you’d like to see the US gov’t step in and investigate, but what jurisdiction do they have to do so? Sounds like there might be a better chance to have the British gov’t step in to do something, especially considering the GG is appointed by the Queen herself. Does the U.K. have any criminal jurisdiction in SVG? I hope they have at least been notified of the happenings under the current administration. I’d like nothing better than to see these guys behind bars or certainly a worser fate, but I just don’t see how the U.S. gov’t can do anything except to follow the money trail on behalf of the Millennium investors. If there is any hard proof left after all the shredding, is it possible for the investors to file a lawsuit against the SVG gov’t as a coconspirator in the fraud against U.S. citizens? I’d like to find an attorney to take up that case. Although I don’t know if there is any money to be had there since it seems it would be near impossible to collect a judgement against such a government. I applaud you for having the guts to relate the sordid affairs of your country, and I feel for you and your fellow countrymen living under such a regime. It make me proud and relieved to live in the good US of A.

  182. Crapaud says:

    Mark:

    I don’t know very much about Willie’s wife but I can make some enquiries. I imagine that if they are together, she would have visited SVG at some point. Although, he was more apt to traveling with a beautiful blond (hair store bought no doubt) young woman from Romania by the name of Adriana Steluda Stroe.

    I say this because one year he took quite a number of rooms at Young Island Resort to house his family and friends during the Christmas Holidays. I imagine his wife would have been a part of that grouping.

    Just in case you are not aware of this, Young Island is the most prestigious hotel establishment on mainland St. Vincent and very expensive too. In fact, Wise rented a cottage on this 35 acre island resort, for a few years before he decided to develop his ‘free’ hotel.
    Young Island is located just 200 yards off the main island of St. Vincent.

    The ‘Tommy and Nelson Legacy Place’ was initially a home that was being built by Victor Hadley for his newly married son and daughter in law a few years ago, but the marriage ended before the house was finished. It is located in one of the most prestigious residential areas on the island and has ocean front access to a lagoon where there is a Yacht Charter Company operating, and lots of other boating activity. Aprat from having access to a semi private beach that is adjacently located, it is also a very scenic area.

    When Wise originally leased the property, it is alleged that he paid a five year lease in advance and set out to finish the main building, which he moved into when it was completed. By this time, he had added a pool and other ammenities that were deemed necessary for his personal convenience.

    I gather that Wise then negotiated to purchase the property from Victor but the price was very high, and so he had to pay in installments while at the same time he was embarking on the rest of the development. Of course Victor was being smart not to transfer the property to the “Legacy Place” Company until he had received the entire payent that was agreed by Wise. Sources tell me that Wise had paid Victor somewhere in the vicinity of US$10 million by the time the SEC caught up with him. He had also invested additional sums in the vicinity of 5 to 6 millsion US in the development of the property also.

    The property is nicely designed by an architect in the name of Thomas Dehen, who had worked for a numer of years in Mustique and who was already accustomed to working on very up market homes for the rich and famous. So one can expect that he would not have cut corners on this development.

    The property comprises of 8 cottages that facilitates 13 accommodation units, each with its own private bathroom and balcony. There is a large pool, commercial style kitchen, dining, housekeeping and laundry facilities, wine cellar and all the ammenties relevant to what one would expect in a small intimate hotel style complex in these parts. I gather that it is very nicely appointed.

    The property is also outfitted with 2 large generators that provides power that is over and above what the property would ordinarily demand. I quess he felt that he needed a standby in case one should go out. Apparently, he had failed to pay his electicity bill with the local power company for about 2 months and had accummulated a outstanding amount with them of about EC80K. I am told also that the electrical wiring on the property is inefficient so it consumes much more power than it should.

    Wise also had a lift custom built for the two power boats he purchased, so that they can be pulled out of the water or launched mechanically. So far, the power boats have been removed, but Mr Victor has now reinstated himself on the propery and has installed his boat on the lift by the jetty. The 2 generators are also still on the property and those are very valuable pieces of equipment also.
    Incidentally, the upgrading of the jetty was quite a huge investment at the expense of investors.

    The lastest piece of information that I have received, is that the Government will be dispensing with the SSU Security they had put on the property after the looting and Victor will have his security exclusively on the job. He intends to put someone to live on the property as well, to further reinforce his rights to it.

    I will again reitierate my position that Victor Hadley must not get away with this property. As I was telling some one this morning, these guys were merciless in queezing every cent of investors money they could get out of Wise and at the end of it they all have the nerve to turn around now and make statements to the effect that Wise was a stupid man.

    In my view Wise has no place else to go but to jail for the balance of his life. However, these gangsters have to/must be dealt with also.

    Blessings,

    Disgusted in Virginia: I will respond to your blog later.

    Crapaud

  183. Crapaud says:

    Disgusted:

    My apologies for the delay in responding to your post.

    First and foremost, it is good to know that there are people out there who are disgusted with the situation. It tells me that there is hope.

    The next question is whether or not the US Government has the right to investigate a crime against US citizens that was perpetrated on Vincentian soil?

    Absolutely! In fact, they probably have uncovered a great deal more information than we think. However, Governments don’t operate in an open manner and much of what they know is often kept under wraps to avoid the ‘pandora box’ kind of effect.

    Example: Persons associated with the opposition party in SVG was provided with a bunch of material in relation to this Millennium matter. Weeks went by and not a word was being uttered by the opposition party, even though every body knows all the players involved and their associations with William Wise and Millennium Bank. Every body knows that this matter has serious consequenses for individuals associated with the ruling regime and friendly with the opposition.

    So I asked the question: Well boys, what’s going on? How come we ain’t hearing anything from you guys on the MB issue, and this is real material to work with to get these bandits out of office.

    You know what them fellows saying? Them fellows saying that they not making any waves because Wise had connections with a whole set of important people associated with the new Democratic Government in the United States. So I asked: Well wey all ya get dat information? They tell me how Wise had a whole set of pictures line off in his house with him posing off with the likes of Bill Clinton and some Congress people and all kinds of people like that.

    As soon as you enter the door of the Legacy Place, apparently they were all there to greet any and every one arriving. That the locally appointed Receivers had them piled up waiting for the arrival of the SEC representatives. Haa Ha Ha! Sorry man, its just comical. I just can’t help it.

    I refuse to believe that them fellows are that nieve. This is the age of technology, and it was in Wise’s interest to appear important. So I would have to be an idiot to believe that they have nothing to say because they are trying to protect Obama’s Government from a scandal. HaHa! It’s just laughable.

    I want them fellows to know that we done know that they have many in their midst who have associations with this rotten situation. Some of them are reminiscent of vultures.

    So the opposition has not even arrived in office yet and this how they shaping up already.

    On the issue of sovereignty, I imagine that a team of good lawyers would be able to make a good arguement in favour of the Briton’s responsibility to/over the ‘former’ Colonies. It lends itself to a very interesting legal debate. They give us the Westminster System of Government with a Constitution that is a dream for any aspiring Monarch. But the queen is still the Head of State.

    The bottom line is that there are still a lot of scores to be settled between Briton and the Colonies, and it would be a good thing if the process can begin. After all, had it not been for the Colonies, where would Briton be today?

    A couple of years ago, an interesting development took place. The British sent in a representative who buddied up with the ‘Comrade’ and the next thing we observed is that Briton made the Representative’s position in SVG redundant. The residence was sold and the building that housed the Offices of the British Rep. went on the market about six weeks ago.

    But this is not a good time to cut the umbilical chord.

    Regarding the issue of the Governor General’s involvement with this scandal, the palace needs to act swiftly and decisively. Because if he is not repremanded, it would give the appearances that all is well with Ballantyne’s conduct as the Queens representative.

    But then again, is any one complaining? The ruling regime is not likely to complain. And the last time that I checked, the opposition party was not poised to complain either. For some reason some of the higher ups associated with the upper echelons of the opposition seem to think that Freddie Ballantyne is the ‘cats pajamas’.

    I heard recently that some of them were gearing up to honour him for his contribution to national development. Haa Ha Ha!

    Sometimes I just wish I had what it takes to be a comedian. There is so much material to laugh about.

    Blessings!

    Crapaud

  184. Crapaud says:

    Disgusted: I just realized that I did not answer all of your questions so here goes.

    Q. Is there money to be had if the investors should file a law suit against the SVG Government?

    Why do you think that people like Gonsalves seek high office in a Country like St. Vincent? Because there is money and power to be had.

    Q. Can St. Vincent affort to pay back the investors for their losses?

    A. We can’t afford not to because if we don’t, the price in the long term will be much too high and will sink us economically. It is just not a sustainable alternative.

    As a nation, we could sweep all of this under the carpet and forget about it but it is not going to go away. It will always be a dark cloud hanging over our precious little islands. Furthermore, these gangsters will continue to rob others.

    I look at the money in this way, the International Airport is expected to cost the Country upward of one billion dollars, and that is a conservative figure. The Millennium fraud is only in excess of 60 million. With a little vigilance we aught to be able to find some of that money so it is a question we will only be expected to pick up the tab for the difference plus costs.

    But in all of it there is a big bonus to be had. We get rid of these bandits out of office. The Country will have an opportunity to right itself and put the rudder back on. It should be much smoother sailing up ahead, especially if we can put a few of them in jail. And the citizens would be able to exhale and breath oxygen again.

    The second bonus is that we would have the opportunity to avoid having these guys bankrupt the whole Country and having the whole place in a state of decay. And we wouldn’t be left with a huge white elephant of an Airport that can’t function anyway.

    So you understand now why I say it would be cheaper to pay back the investors money? Besides, I can’t see any other way for the investors to be reimbursed, and the whole Country will be a winner in the deal as well.

    But then again, it shouldn’t be just the Government paying the price. We have Mr. Freddie, KPMG, Bollars and last but not least, the head honcho himself, Mr. Ralphie. Especially if we can run a raid on the property he is building up at South Rivers. I hear that a couple of truck loads of ‘Legacy Place’ belongings ended up there.

    Man, Disgusted, I find that it is more than time for that law suit to get filed! Do you know how many people in St. Vincent just praying for the investors to make a move.? Talk about killing a whole lot of birds with one stone. That is it! And these types of actions tend to have a kind of ripple effect too. Any way you look at it, it has to have a positive impact.

    I gone again.

    Crapaud

  185. Crapaud,
    We are all for getting our life long savings back. But who will have the guts on the island to stand up to the crooks there running it ? Who will over throw them and put them on a slow boat to nowhere out to sea?
    Perhaps a civil war, A up rising of the people there ? What will the law do there ? Can they be impeached /
    We will be glad to be the first in line to receive our money from the good people there. Just let me know when they get everything figured out.
    Thank you for all your insight Slim

  186. Crapaud says:

    Slim:

    There will be no need for a civil war in these circumstances. All that will happen is that it will help to empower the populace to exercise their constitutional rights to vote and to be extra vigilant at the polls to ensure that the elections are not rigged. You see, the process has already begun, it just needs a catalyst or should I say just a little encouragement.

    As we speak, the Government is moving towards a referendum in November to introduce a new Constitution. If it is successful, the new Constitution will place more power into the hands of the leader and his sycophants and perhaps bring an end to our associations with the Commonwealth and other entities important to our development and stability. If that should happen and given the direction this government is taking, your chances of recovering your money will likely be non existant because the nation under this leader will most likely disband with the Privy Council, which is currently our final Court of Appeal.

    The advantage of having your matter find its way into that jurisdiction as apposed to the Caribbean Court of Justice (CCJ), is that your matter will most likely be handled fairly. There is just too much interference in the juduciary by politicians to ensure any guarantees of fairness.

    If the Government is all allowed to succeed with the introduction of a new Constitution, the end result you envision is likely to be the one to prevail. The danger is that it will likely not be internalized but will involve the participation of non aligned countries, it would drag the rest of the Region into the mele’ and things could get messy.

    The population is ready to move peacefully against this administration but a high level of intimidation tactics have been deployed, and it is increasing daily. This is the reason why it is important to put an end to it now rather than later. To do so, pressure must be exerted from every angle to ‘give the criminals no space in which to operate’.

    Bringing a lawsuit against the Government and these criminals will expose them for what they are. For too long they have fooled the public, locally, regionally and internationally with a lot of empty talk about ‘good governance’. This allowed them the space to get away with their criminal behavior and mismanagement of the Country.

    The time has come to bring an end to it.

    Blessings!

    Crapaud

  187. Crapaud,
    So you are saying that we the investers need to have representation from a good Lawyer to sue the Government there. Or are you saying that the SEC from the U.S. should go after them ?

    And by doing this we will free the people there and receive our investments back as well.

    And the people there are hoping and praying that this will happen ?

    We are for always doing what is right. And we want our money back

    Thanks alot and stay in touch SLIM

  188. disgusted in Virginia says:

    Crapaud,

    Thank you for all your insight and encouragement to be proactive. I would love to find an attorney that want to take on the SVG corrupted gov’t. I’m sure enough evidence can be found to take them down. But again, how are attorneys motivated?… money, my friend. A lawyer would have to have enough confidence that if they were even able to bring such a case before a U.S. court and obtain a judgement against the SVG gov’t, what SVG entity would ensure that the SVG gov’t would pay the damages ordered by a U.S. court? I highly doubt a fair trial would occur in SVG against the SVG gov’t.

  189. disgusted in Virginia says:

    Crapuad,

    I still don’t understand why the opposing party is doing nothing to expose this scandal to the people of SVG? I highly doubt Willie Wise had any significant power or connections here in the U.S.

  190. Crapaud says:

    Disgusted:

    If a matter like this were brought before the East Caribbean Supreme Court in its Apppelate Jurisdiction of St. Vincent and the Grenadines, what ever the ruling, either party is at liberty to appeal to the regional Appeals Court.

    In a matter of this nature and magnitude, one would expect that it would arrive at the Privy Council. If the Government loses, regardless of who is in office at the time, the Government will have to pay. There are legal consequenses. If the Country is responsible for perpetrating a crime, the Country has to pay. It is the people and the system that has the power to hold them responsible.

    Have you seen the news item coming out of the British news this morning about the Speaker of the House of Parliament being forced to resign because he failed to put regulations in place in relation to financial indiscretions on the part of a number of sitting MP’s? Now that is powerful. That is an example of how the system is supposed to work.

    In SVG the Speaker of the House is pathetic. He allows the Prime Minister to get away anything. Listening to our Parliamentary depates is an embarrassment to our Nation and the Westminster System. Ralph and his Cabinet behave as if the Country is their personal property and with the utmost arrogance. You would think that he is doing the people of St Vincent and the Grenadines a favor.

    On the other hand, as in the case of major issues like the Millenium melt down anfd the rape allegations by Michele Andrews and sexual assult allegations by Canadian attorney Margaret Parsons, the opposition is either absent from the House or absent from the issues.

    Picture this: In the face of all the MAJOR issues affecting the Country, whenever the House of Parliament meets (once per month) the opposition has the privilege of questioning the Government on issues relevant to the maintenance of good governance. They are limited in the number of questions they can ask and the amount of time they are given to speak. These guys would go in there and ask questions like: When is the toilet in the Union Island Airport going to be fixed? I know that this is hard to believe but this issue was raised on more than one occasion. An issue that they can pick up a telephone and talk to a Minister of Government or the representative of the area and say look man this thing is disgraceful, we are trying develop a Tourism Industry here. We can’t have this thing outstanding for so long, it is an embarrassment to the Nation. And I am sure that the matter will be dealt with.

    When the rape case was brought against the PM, them fellows stayed out of the House of Parliament for months. They were ever so smart that they did not even consider thinking it out to the end. Being absent for 6 consecutive times would have caused the Speaker to call a bye election in the constituencies of the respective members.

    They eventually had to double their tails under and return to the House with some lame excuse that the Michele Andrews case was ‘dead in the water’. Instead of trying to fight for the woman’s rights. That is the type of representation we are getting from the opposition.

    The opposition is frustrating. They really don’t have what it takes to deal with the Ralph. Having said that, Ralph is a special case. It will take a lot of elements in place to move him because he has a lot of structures in place to keep himself there, by all means.

    Like you, I am not convinced that Willie Wise had any really powerful connections as the local Recievers are trying to promote. Apart from the usual contributions to political campaigns, which is everybody’s right, I believe that the photographs are a farce to mislead the public. It’s a very common trick.

    Blessings!

    Crapaud

  191. CRAPAUD: IF YOU HERE OF WILLIAM WISE”S WHEREABOUTS LET ME KNOW. I WOULD LIKE TO CHAT WITH HIM.WE WILL BE DOING ALL WE CAN TO GET YOUR CORRUPT GOVERNMENT OUT OF POWER.

    THANKS – MARK

  192. Mark,
    If the SEC will not go after the crooks running the island that who will and how ? Thanks Slim

  193. Crapaud says:

    Mark:

    Once this blog continues to exist, my plan is to keep everyone updated with any new developments from my end and I hope that others will also. I think we should endeavour to see this through to the end. Don’t you?

    On the SVG front, not much is taking place except the usual distractions to divert the attention of the locals and to put fear in them. Just a couple of days ago, the Comrade brought in a ‘regional’ security team who, according to reports, executed three young men in Vermont.

    According to residents in the area, the guys had surrendered themselves to the police and they were not armed. Of course the police claim otherwise. There have also been some reports that a couple of the officers were seemingly intoxicated.

    And of course Ralphie could not pass up on a photo opportunity with himself flanked by the top brass officers in army fatigues, including the Commissioner of Police, Keith Miller. Ha Ha

    While the image is laughable, it still isn’t funny because people are being hurt and lives are being lost.

    That is Ralphie’s style of showing the nation who is the big boss. However, I am willing to bet that if you catch him standing alone in a lonely place after dark, he might just do something in his pants. His type are usually the biggest cowards.

    Rumours galore that the GG, Mr Freddie, is to resign and that he is going to Florida to live. I will believe that when I see it.

    Victor has moved his son, Guy, and some big dogs into the ‘Legacy Place’ property. The SSU security team have been disbanded with, so it is just Victor’s security on the site now.

    That’s all for now, so we will await the SEC moving in on Wise sometime soon. Hopefully!

    Blessings!

    Crapaud

  194. Garifuna says:

    I believe the ties to Ralph are not as strong as described here. The ties to the GG on the other hand I know is true.

    Iwould like to know to which British institution should we direct our complaints on the GG to? Who needs to get the information about the connections between a ponzi scheme and the person that Queen Elisabeth named her representative on the island? I do not believe the GGs power goes outside the caribbean in the UK he is a nobody. Start with getting rid of him.

    Do you know that the GG get to import everything duty free into the country? That is why he can drive the expensive cars, and that is why it is so easy for him to build and construct new villas and houses he does not pay any duty on the construction material.

    SEC does not have jurisdiction in SVG. But crimes committed against american citizens abroad are investigated by FBI I believe.

    Possibly they are following the money trails and staying quiet until they locate Willie. With him as a star witness, they can offer him a reduced sentence and he would sing like a bird to tell everything.

    What I would like to know is what is the deal with Buccament on the Bay though? Ralphs wife is named as interior designer for the resort.

    At the same time as Searchlight is running a big article with Ralph and Dave Ames and the plans for Buccament, there are people making their voice heard on various internet sites saying they want out from the purchases they made but Buccament / Dave Is not answering their mail or phone calls. Where will this end?

  195. Crapaud says:

    Garifuna:

    Complaints in relation to the conduct of the Governor General should be lodged with the British High Commissioner in Barbados and copied to the Commonwealth Secretariat, the OECS Secretariat and the Caricom Secretariat. Ordinarily, it is the Opposition Party that should perform that function but failing that, individuals or NGO’s can independently lodge complaints also. The purpose of copying the two latter entities is for the express purpose of informing them. They have no real jurisdiction over the situation with the GG.

    Ralph is more connected to Millennium Bank than most people would care to know. He was fully aware that Millennium was not operating above board because in his capacity as Prime Minister, Minister of Finance and Minister of National Security, it would have been his job to know. The IFSA has a responsibility to report to the Prime Minister directly on all issues related to the off shore banking sector.

    If you would like to know how much he would have known, I would suggest you visit the article captioned “Millennium Fraud: William Wise successfully reversed the St Vincent and the Grenadines Banking Authorities attempt to revoke it’s license in 2004″ by attorney at law, Keith Miller. The document can be found at : http://www.bostonaccidentinjur.....lliam.html. There is a link to the IFSA’s Accountants Report in the 6th paragraph.

    Make no mistake about it, the Prime Minister and the Governor General are cohorts in many areas. It always amuses me when Ralph makes statements about the GG sanctioning this or signing off on that. One would think that the GG is an independent entity but the truth is, that the system is designed for them to hold one head.

    The way that the system works, is that the Prime Minister recommends the person whom he has selected to be Governor General and it is only upon his recommendation that the individual is given a Knighthood and appointed by the Queen.

    The GG in his capacity is responsible for swearing in all Government Officials, including the Prime Minister. There are clauses in the constitution that empowers the GG in certain capacities. However, no sitting GG in SVG has ever attempted to bring down a Government. The last time that a GG attempted to exercise an independent position on matters of state, he was unceremoniously asked to resign by the PM at the time. In essence, Prime Ministers select their political soul mates into that position.

    In the case of the Grenada intervention by the US forces during the ordeal with the ‘New Jewel Movement’ (NJM)Government in the early 1980′s, after Maurice Bishop was killed under orders by the Deputy Prime Minister, Bernard Coard; it was on the authorization of the Governor General of Grenada at the time that the American Government was empowered to intervene. Had the situation not been handled in that manner, the intervention would have been categorized as an all out invasion of Grenada by the United States of America.

    The foremost responsibility of one of the elete troups that were first sent into Grenada by the Americans, was to find the Governor General and to keep him alive. He was the only person with the constitutional power to permit the foreign military to conduct their operations on Grenadian soil during that crisis.

    Interestingly enough, inspite of the fact that the NJM was a leftist Government that had more or less taken over the Country by way of a Coup d’etat aided by the Grennadian Military, Maurice Bishop as leader of the Party and NJM Government, opted to maintain the Governor General as head of State (Grenada: The Untold Story by Gregory Sandford and Richard Vigilante).

    Inspite of all of the transformations in Government by the NJM for the period they were in power, retaining that aspect of Grenada’s constitutional makeup allowed history to take its course as it did in that siuation.

    This is the reason why it is important to have a responsible and ethical person in the position as Governor General, especially at this time. It is also one of the primary reasons for wanting to disband with the current constitution.

    Ralph is flirting with leftist extremest for quite a while now and he has even made statements to the effect that he is an “old communist” and that he was going to “carry on the work of Maurice Bishop”, since he has been elected into office.

    Contrary to his claims, his Government is not at all transparent, nor is it democratic. His style is that of a dictator and he is establishing close relationships with some Countries that is not well understood or sanctioned by the Nation as a whole.

    The relationship with William Wise was one of financial convenience. Wise was encouraged to set up shop here by Freddie Ballantyne, and his investments in the 2001 political campaign was the thing that won Freddie Ballantyne the position of Governor General. Apart from this, Wise was financially exploited by these local elements in ways that can be viewed as abusive.

    Eloise was engaged in some interior decorating work for William Wise’s ‘Legacy Place’ property also. However, you will never find a single check written out to her because all payments were made in cash.

    The property at Cane Garden that was purchased from the retired doctor was paid for in cash, compliments Millennium Bank. The property is now registered in a Company with no apparent link to the Nation’s first couple.

    The Buccament developers were recently pressured into commencing work on a grand scale with immediate effect.
    The reason for this, is that the Prime Minister is very anxious to get some projects moving and closer to completion because elections are in the air and the Party has to give the appearances that they are fulfilling some of the promises. There are suggestions that the Government’s expectations of completion are impossible to meet.

    Unfortunately though, it does not matter if it is completed now or in 2020, the property will never be able to function successfully under the current development plan. The development started out on the wrong social footing and will end as an ecological diseaster of proportional magnitude. The impact will only be understood if and when the operation finally opens its doors. When ever that is.

    Blessings!

    Crapaud

  196. Impressed says:

    Crapaud, I am very impressed with your writings. I think you deserve your own blog to talk about not only this disaster but other matters that would definitely be of importance to readers around the world. Contact me at uwstand[at]gmail.com

  197. Crapaud says:

    Impressed:

    Thank you so very kindly but I will have to decline your generous offer. At the moment this blog is about as as much as I can handle and besides, in a more general context, I really can’t see how my opinions can be of any significance to the world.

    This blog serves a specific purpose and that is to follow the Millennium Bank matter. Once Johnathan continues to allow me the privilege, I would like continue making a contribution with regard to my Country’s involvement in it.

    Blessings!

    Crapaud

  198. kentucky girl says:

    I hope the FBI and SEC and Attorney Keith Miller will check out the money trail on Bob Keltie and David JOnes because the money they made is fraud and belongs to his clients usssssssss! Wonder if they thought all of us is stupid….. Me and my family has worked all our life and dont live in a $400 000 00 home they just bought last year!!!all yea its up for sell but who going to buy it friend willie wise?????????? I hope they all get time and the good lord knows whos lying and whos not???

  199. Kentucky girl,
    I agree with what you are saying. There are to many crooks still not arrested or in jail. That should be our home to sell not Dave Jones.
    Crapaud we thank you for all your efferts in trying to help us victims get our lives back. We hope your efferts will not go without results.
    Thank you
    Slim Pickens

  200. Crapaud says:

    Kentucky Girl/Slim:

    I would want to agree that Mrs. William Wise should not be allowed to continue to live in a multi million dollar mansion that was paid for with investor’s money either.

    Although I have not seen the list of items that were put on sale in the US, the 20 items of jewelry, a few crystal wine glasses and a couple hundred thousand dollars worth of bad wine in the recovery effort by the SEC, strikes me as cursory.

    But why should this be surprising to anyone? The last time the American authorities investigated an off shore banker who operated in SVG a number of years ago, the man (an italian) had been living in Florida when the investigation was taking place and the arrest warrent was issued just as he returned to SVG. Typical!

    To add insult to injury, the Comrade tipped off the Italian Banker with information regarding the ETA of the FBI, so he was able to split the country just hours before the FBI arrived on SVG soil.

    Adding more insult to injury, the US authorities failed to open a safe in the Bank headquarters in Kingstown and according to my information, the safe was packed from floor to ceiling with cash money; mostly US dollars and travellers checks.

    The Banker subsequently made a number of night flights into SVG by way of private charter from Martinique and departed before dawn; and that was how he was able to move the money out of the Country. All of this would of course been expedited with the full knowledge of the Comrade himself.

    It is frustrating to observe the system’s failure to apprehend the real criminals, while persons who might have committed a petty crime is thrown into an over crowded prison and more often than not, is abused by a system controlled by the real criminals.

    There is a lot going on in SVG right now with serious human rights abuses by the Police. Just over a week ago, three young men were gunned down by the Regional Security Forces and all accounts claim that the young men were not armed and had surrendered to the police. People’s homes are being searched without warrents and by the nature of their conduct, it seems that the Police are being used as tools of political terrorism.

    Meanwhile, rapists are on a rampage throughout the Country and the authorities don’t seem to be the least bit concerned. This has been going on for some time now and in spite of the UN/World Bank Report highlighting the problem a couple of years ago, still no progressive action is being taken. The situation is definitely taking the shape of deliberate inaction.

    For the first time, I am convinced that our population is finally waking up to the reality of the situation in our Country. It feels like we have another Idi Amin at the controlls. The atmosphere is frightening and depressing.

    Blessings!

    Crapaud

  201. IS ANYONE HEARING ANY WHEREABOUTS OF WISE? CRAPAUD YOU SEEM TO BE A VERY INTELLIGENT PERSON. KEEP UP THE FIGHT!!!

    MARK

  202. I WOULD LIKE TO VISIT SVG SOMETIME AFTER VIEWING IT ON THE INTERNET.

    MARK

  203. SOMEONE NEEDS TO GET THE GG OR PM OR BOTH ON TAPE TALKING ABOUT THERE INVOLVEMENT WITH MILLENNIUM BANK.

    MARK

  204. Crapaud says:

    MARK:

    Well you have to know that being the man that he is, Ralphie has to be talking a lot. Don’t worry, there is stuff on record.

    It is the GG who now has to come to the table and talk. And he had better talk! If he thinks that he is going to strut his stuff as if he is some kind of King Arthur and get away with it, well I had better either pack it in and just let this place go to pot.

    This man from day one has been using the office of Governor General to facilitate his personal interests AT TAX PAYER’S EXPENSE. Every monday morning the man flying out all over the place First Class, he even went to Russia. I wonder if it was on the Spirit of Millennium Jet?But to do what at tax payers expense? His office is a letter box!

    I am very sorry for who ever want to cover up for the man. It can’t happen. And them women better don’t tell me that he is good looking or that he has a NICE personality, because we done know it ain’t true!
    I don’t even tink he dat good in bed. I don’t know, ah will have to investigate what gets dem women hot. Some ah dem women real fickle, sometimes just a little sweet talk from somebody they think is important and they gone woozy.

    What you saying dread! Crime is crime! Anyhow you cut it, slice it or dice it, ORGANIZED CRIME to the tune of over 100 million US dollars.

    On a lighter note, someone told me a couple of days ago that them fellars used to ‘done’ Wise for money like this. In Caribbean terms, when I say ‘done’, I mean like they go to him and say ‘man the Treasury having a little difficulty meeting some of the committments this month. We need another half a million or a few hundred thousand to fill the void. You know this Airport ting pulling a lot of money and you know if you want to stay afloat we will have to continue to be in office .’

    Of course they are not telling Wise how much money they done thief from the Treasury in cost over runs, even in the entertainment; and boy I could tell you about dat. But then again Wise did not really care to much about such trivial tings, he was living the life man! The life of the Great Gatsby!

    Them fellars Doctorates in Law and Medicine and all of those disciplines don’t come up to scratch when it comes to their ability to thief and lie.

    There has got to be a higher qualification way beyond them Doctorates put out by some of those Universities to accredit these fellars in their ability to thief and lie. And talking about accreditation, boy when it comes to Trinity University, and Government, and Freddie and Ralphie; man them fellars pass a law in the House of Parliament to do with accreditation and when you hear them fellars done craft up the thing, what you think happen?

    The Accreditation Board comprises of entities like the National Youth Council and some corrupt Trade Unions and tings like dat. So, you know what? I could go through the Trinity University School of Medicine and be barely able to read and write and still I could end up with a Doctorate in Medicine.

    Quite frankly, I personally don’t think that the University of the West Indies too very ‘pram pram’ and perhaps don’t even qualify, but not even the UWI is on the Accreditation Board.

    This man have more guts than bowley! Imagine he using Government House to entertain students enroled in his University. But waht kind of Medical School have a student body of 25. Simple, the fete can’t pay for the lights. I wonder if the Treasury paying the bill for the catering and entertainment too?

    You know, the ole people have a saying which goes: “You can fool all of the people some of the time. And you can fool some of the people all of the time. But you can’t fool all of the people all of the time.”

    Ralphie boy! Your days are numbered. And Mr Freddie will have to go down with you too. After all, all yo are partners in every ting! Ain’t that true? So enjoy the last days of the high life at tax payers expense because it will be coming to an end soon.

    Same time, tell Parnel the same applys to him too. Tell him to forget about dat New Constitution he drafting because it ain’t going through. It just won’t be happening dread!

    And with that, is gone ah gone for the time being.

    Blessings!

    Crapaud

  205. I hear Wiseman got picked up by the law and is in USA. Anyone can confirm? That is what is said in SVG

  206. Crapaud says:

    Have not heard a word about Wise lately …… but I did have the opportunity to view some snipits from the case that was fiiled against the Antiguan Government by some investors in Allan Stanford’s Bank.

    It leaves me to wonder about the level of involvement our Government had with Millennium Bank.

    I suppose all of that is left to be seen.

    Blessings!

    Crapaud

  207. Ellen Tadros says:

    Please keep me informed on any news.

  208. I thought it was this bank:

    http://www.millenniumbank.com/contact.shtml

    this will be very confusing to other people since this bank is actually located in VA. I just saw your blog post when I run a search for it via google referring to this bank.

  209. Read this link that have the Recievers List of Asset Recovery.

    They have only found 1 million USD in cash in the US, but they dont seem to have any info on the bank accounts in SVG that Wiseman had in other banks.

    Wiseman spent
    - 5 – 7 million USD in purchase of Real Estate (is this the same real estate that Victor Hadley proposes is rented/leased, and still owned by Victor?)
    - 10 000 USD per week for “Female Companions”
    - costs for 50 guests over New Years Eve 2008 that he flew down.

    Wiseman should have his ass spanked. And where is he? In SVG everyone is telling me he is in FBI custody in the US, but when looking on the net I dont see anything. Could they be holding him and offering reduced sentence if he sings about all other parties involved?

    http://www.wral.com/asset/news.....ending.pdf

  210. IF YOU COME UP WITH ANY INFO ON WISE,PLEASE LET US KNOW. CRAPAUD AND BOMBOM, WE REALLY APPRECIATE ALL YOU ARE DOING TO HELP!! YOU ARE PEOPLE OF INTEGRITY. WISE SHOULD HAVE BEEN NABBED FIRST THING AND PUT UNDER HEAVY QUESTIONING AND PRESSURED AND TORTURED. THAT WOULD HAVE BEEN THE SMART THING TO DO. WHAT WAS OUR LAW ENFORCEMENT THINKING???? THEY KNEW BY THEN IT WAS A PONZI SCHEME.
    I HOPE THIS ROUSTS OUT EVERY CROOK IN YOUR COUNTRY!!, FOR YOUR SAKES. I HOPE TO COME DOWN SOME DAY AND HELP IN YOUR FIGHT.
    MARK

  211. Mark:

    Thanks for your thoughts and aspirations towards helping us to weed out the crooks in our Country. We could use some help. We have plenty of those who have crossed over to a dark side to contend with.

    I like to think that the glass is always half full, but there are many who think that the problem is insurmountable and that in itself is a problem, because right away they are accepting defeat. Also, it is not helping to solve the problem of corruption when good people take a back seat to the issues.

    But we keep on trying. The results just have to come. If not next week or next month, perhaps next year. That’s just how I see things.

    Ole people always say: Take time, kill ants, you must find the gut.

    Blessings!
    Crapaud

  212. The newspaper “the Vincentian” have an open section on the website, where letters to the editors can be submitted. Please read the below. The FIU quoted in the text is the authority supposed to regulate and supervise the financial industry in SVG.

    Man about town would like to know:
    By: The Vincentian Published: 08/27/2009

    Is it true -

    * That a police officer refused to arrest a woman who tendered a fake $100.00 bill at a supermarket?
    * That the FIU boss has a number of rental cars? If so, how are they being financed and by whom?
    * That the Surveys Dept. was broken into and the computer and other things were stolen?
    * That assets from the Millennium Bank were sold, but to invited persons only?
    * That building materials from Millennium Bank were delivered at Campden Park and Questelles on lands owned by members of the FIU?
    * That the Town Board will not remove that vendor who is blocking the eastern sidewalk entrance to a certain restaurant?

  213. WHERE IS THE INVESTORS MONEY FROM THE SALE OF THE BANK?WHERE DID THE 4 MILLION DOLLARS THET WAS IN THE BANK GO? PLEASE TRY TO FIND THE ANSWER TO THIS!!I WANT TO COME DOWN AND TALK TO THE PEOPLE THAT HAVE THE MONEY.I AM TIRED OF THE JACKING AROUND.
    MARK FAUGHN
    PRESIDENT FAUGHN METAL BUILDING

  214. Reporting that Man About Town – Vincentian Newspaper, Sept. 25, 09, is asking the following questions:

    Is it true that a power boat costing over $500,000.00 and owned by the Millennium Bank was sold via telephone for $100,000.00?

    Is it true that linens, the property of William Wise, the Managing Director of the said Millenium Bank were also sold via telephone to the same person(s)?

    Is there need for a check into the financial dealings with any persons with some connections to the Financial Intellegence Unit?

    Crapaud does not know the answer to these questions but if anyone out there has any information, would you be so kind as to share it with the My Money Bloggers.

    Whatever it is, you may even know one of the select few invited by a certain person closely connected with the local Receivers and former Auditors of Millennium Bank, to the famous Millennium Yard Sale. Every little piece of information will be helpful.

    By the way, can anyone please tell me why no arrests have been made in relation to the Millennium Bank as yet?

    Blessings!
    Crapaud

  215. Where has Kyle gone? Did anyone take his advice?
    He fought his corner well….

  216. Just watching the posts and wishing more could be done to help the investors recover their monies.
    Crapaud your posts are great.

  217. Thanks Kyle!
    Not too bad yourself on the sales pitch back there. How is business these days?

    For those of you who are not aware of this, the Parliament of St. Vincent and the Grenadines has developed a spanking new Constitution to replace the one given to us by the British in 1979. But before I tell you about the new Constitution, it is important to clarify what Parliament means to the Vincentian people.

    It is a place where the elected members – those in the Government (ULP) and those in opposition (NDP), each along with their selected senators – meet once per month, to vote on Bills that are to be passed into law, and for the leaders to inform the nation as to its State of Affairs. During those proceedings, the opposition is allowed to ask a certain number of questions, and all this fan fare is presided over by the Speaker of the House, who wears a beautiful blond curly wig.

    But before I go any further, you must also be aware that the ratios of elected members are 12 ULP and 3 NDP, plus five senators, three for the ULP and 2 for the NDP. So when ever there are Bills to be passed in the House, without question, there is an advantage/disadvantage from the get go.

    The second advantage/disadvantage is that Prime Minister Gonsalves gets to inform the nation of how very bright a Prime Minister he is; and of course, how very stupid everyone else is, uninterrupted. No Sir! Mr. Speaker makes it his business to keep those little boys on the NDP side very much in line. They don’t dare open their mouths to say ‘bop’ about anything the Speaker may find offensive to the illustrious leader. But Ralphie boy, Ralphie could do anything, insult any body, and more often than not, he insults everybody. Sometimes the Speaker himself doesn’t even know when he is being insulted.

    Ralphie uses all kinds of words to call his subjects, like vagabonds, thieves, lazy, malignant, backward, worthless, “intellectually challenged”, fools, no good, terrorists; and in the midst of this he would take leave to insult the Opposition leader and the other Opposition members, reminding them of course that they are just a hopeless waste of time. And when all is done, he tells them that politics is serious business for serious people; and the House of Parliament is not a place for a continuous university lecture for the learned helpless.

    Lord have mercy! You just have to give the man his due! This is stuff for serious comedy. I am ready to pay any body to smuggle some laughing gas into that place.

    Anyway, before I get back to the part of the Constitution that I want to tell you about, I must direct you to a speech delivered by the illustrious Permanent Representative of St. Vincent and the Grenadines at the 64th Session of the United Nations General Assembly on September 29th, 2009, His Excellency Camillo Gonsalves, son of the Hon. Ralph E. Gonsalves, Prime Minister of St. Vincent and the Grenadines. (Note the emphasis on the word ‘delivered’. Note too: his appointment was a blatant exercise in crass nepotism)

    Apart from blaming every developed Nation in the world and its unborn children, for everything that has gone wrong with the economy of SVG, Camillo stated a few things that were both ironic and amusing. He said that:

    “We are in the midst of a global financial and economic crisis of unparalleled dept and scope. SVG played no part in the reckless speculation and corruption that precipitated this crisis, but the people of our Country are hard hit by its effects……”

    “It is not merely the economic crisis against which the people of SVG continue to struggle heroically. Today, we face the triple threat of being globalized, climatized and stigmatized……”

    “Now, we face being stigmatized out of our transition into financial services, as the G20, the OECD and other non-inclusive bodies seek to scapegoat and rule out ‘tax havens’ in a pathetic effort to cast a wide and discriminate net of blame across a swath of legitimate and well-regulated countries’ development efforts……”

    Now why did you people have to kill the man’s money tree? This is now causing him a whole heap of trouble trying to get this new Constitution in place as quickly as possible, (a) to get rid of the Privy Council as the final Court of Appeal and (b) to exonerate the President (the replacement for the Governor General) and the Prime Minister from being prosecuted for any crimes they commit while in office.

    So what that means now is that any Prime Minister now and in the future, can rape, pillage, murder and plunder to their hearts content. Likewise, any President can be involved in as many Ponzi Schemes as he too should desire. Better yet, according to Kenneth John, political commentator, lawyer and historian, Ralph “eyed a colonial and backward constitution, which he hoped to bend so as to embalm himself in power.”

    POWERFUL!

    Now, I am willing to challenge anybody who is prepared to deny that Heaven actually exists.

    Blessings!
    Crapaud

  218. Business is good thanks, still pitching the same.
    Will be in SVG over Xmas period if you fancy a Sunset watching the sun set.
    Keep posting the shocking truth.

  219. Well –

    I certainly wish I had found your money blog before I invested 1 million dollars of all my parents money and my money, into this horror show.

    With an office in CA, and all interest income checks coming out of US banks WAMU, and an office is Switzerland, the St. Vincent portion of it made sense as a way for the bank to loan to businesses in a tax free environment.

    We, as us citizens, needed to report this on our taxes – there is no law in the US that says you can’t buy CD’s in Switzerland.

    Having said that..it’s all turned out a bunch of lies, and continued corruption beyond any comprehension.

    And now we pay the receiver out of our money! What is that justice? A victim pays for the crimianl search? Insaine!!!

    I never saw your blog before i invested, and your country is certainly going through a hell of its own.

    We are all so exhausted and frustrated…

    No one is arrested after so long, no one seems to care, we are all suffering, many older retired people, and I hear nothing from bob kelty who said he was down there all the time and everything was safe and just fine!

    Anyway, I got the message forwarded from George -

    deb

  220. I hope all of the victimized investors are tuned in to site. Thank you Crapuad for getting us back on track . I went to several news stations to see if they will write an article and get the we’ll get back to you story…
    We need to some how form a more organized group were we can make a petition where everyone signs it and WE as a group can be heard. Does any one know how this can work through a computer????? I believe that a lot of people would be willing to sign but do not have the time or knowledge of putting something wise together and knowing where to send it. YES, power in #’s We as a group need to be heard and persistent (to go on resolutely in spite of difficulties an continue to exist and be in their face about this until we get some justice. The President of the U.S.A. seems to be giving us a DEAF EAR. We need to make sure we get the word out loud and clear and stick to the facts… Let’s put aside all our emotion and let’s try to get some important questions answered. such as:
    #1. Why hasn’t the D.O.J. made any arrest as of date?
    #2. Why we have not been updated on the true date of inception?
    #3. What is the real amount of money swindled through this M.B. ponzi scheme?
    #4. Why is K.P.M.G. allowed to do handle the receivership after they been involved in the bank’s affairs.
    #5. I have to go now but you get the idea….. Crapaud , We all appreciate your help and value your advise. Deb please make sure the rst of the group has this website.
    If anyone knows the answer to the petition we can sign as a group please let me know.
    I will ask Keith Miller if He would be willing to help us out with this .
    God above only knows the outcome of this horrific nightmare . Please continue to pray and have faith we will get to the heart of the matter
    Take care,
    George Grabek… Lickety@embarqmail.com

  221. I was reliably informed today that the Prime Minister and his Caribbean Court of Justice promotion sidekick, Justice Adrian Saunders, are to be in Brooklyn, New York on the weekend commencing October 23rd.

    The purpose of this visit I gather is to meet with Vincentian nationals living in NY to discuss, and clarify concerns about the upcoming Referendum and the new Constitution the government is hoping to introduce, and also to promote the Caribbean Court of Justice to become the final Court of Appeal for St. Vincent and the Grenadines, and ultimately the Region as a whole.

    For those of you who are not aware of this, Justice Adrian Saunders is a Vincentian lawyer, who was selected to be a Judge on the East Caribbean Court of Appeals. He is now a Judge on the newly formed Caribbean Court of Appeals (CCJ), and lately, has become Ralph’s poster boy in promoting the CCJ as the Final Court of Appeal to replace the Privy Council.

    Needless to say, for the most part, the current slate of sleazy politicians in the Caribbean Region seems to be salivating endlessly over CCJ replacement of the Privy Council as the final Court of Appeal. Many within the system say that it will allow the politicians even greater opportunity to interfere in the Justice System and even more control over the populace. Heaven help us all if that should become a reality under the current dispensation. Things are really bad already.

    The Regional Justice System is not structured in a manner that gives the populace a feeling of confidence that things are in place to prevent this type of interference. To compound matters further, the track record of the Justice System in the Region, for the most part, leaves a lot to be desired. Without a properly structured Justice System in place, I can see this Region heading straight for anarchy. In fact, we are already moving in that direction at an incredibly fast rate.

    So Mr. Justice Adrian is on the Referendum ‘Yes Vote’ campaign trail with our illustrious Prime Minister, Ralph E. Gonsalves. The same Prime Minister who is alleged to have raped Michele Andrews – an officer of the law, assigned to the Prime Minister’s residence – in the early hours of the morning of January 3rd, 2008, just before he embarked on a journey to Europe to find some investors to develop Balliceaux and Battawya. Interesting connection!

    Let us not forget that this is the same Prime Minister who escaped having to face the Court because the DPP that was appointed by him, in his capacity as Prime Minister, took over the case and stopped it from proceeding any further in the Court. Michele Andrews is still awaiting her day in Court.

    But isn’t it the same Adrian Saunders who people say use to sport dread locks and hang out with a whole set of radical elements in the 1970’s? Did he not belong to a socialist organization with people like Ralph Gonsalves, who some say were heavily involved in promoting this type of ideology, in the days when Ralphie was busy running up and down to Cuba promoting the advancement of the New Jewel Movement (NJM) and Castro’s communist take over in Grenada.

    When some in the NJM thought that Bishop was not falling in line with their hard line communist agenda, they lined him and others up against a wall at the old Fort in St. Georges and executed them. Remember that terrifying bloody day in Grenada that caused the US, Great Britian and other Caribbean Nations had to intervene to save that Country out of political crisis?

    If Adrian Saunders was a man of any integrity, he would not be seen within a hundred miles of Ralph Gonsalves. Somebody told me that Adrian’s son works in Ralph’s office. (Is that true Adrian?) Adrian can’t be serious!

    So back to the upcoming visit to Brooklyn, I am suggesting that who ever is able to attend these “Yes Vote” campaign function in Brooklyn, should ask the Prime Minister some questions to do with a house in Brooklyn that the Government intends to purchase for the use as the residence for SVG’s Permanent Representative to the United Nations, the illustrious Ambassador Camillo Gonsalves, son of Prime Minister, Dr. The Hon. Ralph E. Gonsalves.

    Ask if the house belongs to a Company which is associated with a certain lawyer who is/was a Senator in the House of Parliament in SVG on the ULP side, and if in fact some of Millennium Bank’s money was used to purchase the same property.

    Blessings!
    Crapaud

  222. Don’t be fooled by David Jones, he knew the whole time the garbage that he was selling. I’m sure he will be spending time in the state pen for this,God willing!

    Why so sure?…. He tried to sell these garbage cds to me and could not answer any of my questions on what investmensts these banks where making to get these returns…surely jail time is in his future.

  223. Searchlight Newspaper – St. Vincent and the Grenadines, Friday, august 20th, 2010 (Page 32).

    The Eastern Caribbean Supreme Court
    in the High Court of Justice
    St. Vincent and the Grenadines

    Claim No: 110 of 2009

    IN THE MATTER OF MILLENNIUM BANK INC.
    AND
    IN THE MATTER OF THE INTERNATIONAL BANKS ACT 2004
    AND
    IN THE MATTER OF THE COMPANIES ACT 1994
    AND
    IN THE MATER OF INTERNATIONAL BUSINESS COMPANIES
    (AMENDMENT AND CONSOLIDATION) ACT 2007

    Notice is hereby given that the Creditors of the above named Company, which is being wound up, are required, on or before the 15th day of October, 2010 is to send their full Christian and Sirnames, their addresses and descriptions, full particulars of their debt and claims, and the names and addresses of their silicicitors (if any) to Charles Thresh and Kris Beighton, the undersigned, at c/o Mrs Sharlene Allene – Hector, KPMG, Financial Services Center, Box 561, Kingstown, St. Vincent and the Grenadines or at KPMG Advisory Limited, Crown House, 4 Par-La-Ville Road, Hamilton, HM 08, Bermuda, the Joint Liquidators of the said Company, and if so required by notice in writing from the said Joint Liquidators to prove their debts or claims at such time as shall be specified in such notice, or in default thereof they will be excluded from the benefit of any distribution made before such debts are proved.

    Creditors who have already returned a proof of debit do not need to submit a further proof. However should you wish to to vary your claim you should submit a revised claim which will supercsede your early claim prior to 15th October 2010 (the bar date).

    Dated: This 12th day of August, 2010
    Charles Thresh and Kris Beighton
    Joint Liquidators

    INTERESTING INDEED!

    Crapaud

  224. Kyle Dougan says:

    @Crapaud,

    I hope all is well with you.

    Can you shed any light on the British American situation. I have friends with fixed deposits there and I hear the company (British American) has gone into bankruptcy.
    Please email kyledougan@hotmail.com

    Thanks in advance

  225. Dear Kyle,

    I am very well thanks and hope likewise with you.

    In relation to British American and Clico, I am very so sorry that I am not able to answer your question in relation to the British American ponzi scheme. However, I will suggest you ask the Prime Minister, Ralph Gonsalves, since in his capacity as Minister of Finance, whose Ministry is responsible for overseeing the Financial Sector at the local level and to identify and deal with any irregularities and to ensure that the operators are acting above board and transparently within the framework of regulations they are guided by.

    The East Caribbean Central Bank (ECCB) whose Governor is Dwight Vennor, another Vincentian lauded for remarkable professional performance, is the regional body that oversees the financial sector at that level. Therefore, from all appearances, the necessary checks and balances were in place to ensure the protection of persons investments. Hence it is challenging to most people to understand how British American, Clico, Stanford’s Bank of Antigua and Millenium Bank could ever have slipped through the cracks.

    In response, Prime Minister Gonsalves may say to you that British American and Clico are Insurance Companies, but please don’t accept that as an answer because British American and Clico were selling Certificates of Deposit with a promise of a return to investors a wopping interest rate of all up to 8%. Let no one fool you, the selling of Certificates of Deposit is a Banking activity just as in the case of the Millennium Bank and Stantford’s various Banking enterprises.

    The next thing you should ask Gonsalves: is how much money he and his Unity Labour Party received in gifts of campaign funds and other things? Ask him also: which Insurance Executive was responsible for attempting to cut a deal with Michele Andrews with offers of a low income home and a cash settlement to withdraw her rape charges against him.

    When you get the answers, I would be grateful if you can share this information with me. I can be reached at crapaud2@gmail.com.

    Blessings!

    Crapaud

  226. Laura White says:

    Hi, there is another bank on SVG: Safe Harbor Bank, which has been put under controllership of the IFSA, the gov’t's supervision body for finance institutions. The bank is no longer in a position to return funds to customers. The IFSA and the appointed controller do not release any information since this happened in mid October. They act suspiciously with secrecy, and reject any request for information. Does anybody know more in this forum?
    Laura

  227. I am a previous employee of millennium bank. i quit my job on case of incompetence and client treatment.

    I do not advise people to do business with mb because i know the inside. they may offer sometimes better prices but my opinion is not to do any business with them. Corruption/ instability are my main concerns.

    All my best!

  228. CMT….. Wrong Millennium bank….This blog is about the Ponzi scam in St. Vincent, not the FDIC insured institution in the US. You may have issues with the domestic bank, but you do not have a clue about what is being discussed here on this blog.

  229. Kyle, as a past employee of devere, I wouldn’t trust you as far as far as I could throw you, which unless you are a midget is not far. Devere are infamous for the worst advice ever.

  230. Kyle Dougan says:

    Dear Anon,

    Focussing on placing your money in a safe & secure enviroment before you even think about returns doesn’t sound like untrustworthy advice to me. However my friend, I do agree with you about deVere and that is why I am also a past employee. ;-)

  231. But Kyle, you’re not getting to the real point of Anons message…. are you, in fact a midget?

  232. If you are a midget, does this mean you can pay smaller premiums?

  233. Kyle Dougan says:

    I’m a small fish, but as it happens, i can actually swim like a fish too. (but you guys won’t understand that one)
    Anyway, , , getting back to the point, , , do any of you over intelligent peeps have any Idea how to recover the monies of the millenium banks investors. . . .
    There must be something we can figure out or are we just gunna sit back and say “go figure”

  234. Kyle, if you are a midget, could you help me open an shortfolio please.

  235. Kyle,
    Is most of your work, “under-the-table” deals?

  236. Kyle, with these recent comments I suppose you’re not happy. If you are not happy, which dwarf are you?

  237. Kyle Dougan says:

    I’m not over the moon about British American taking some of my money !!!!

    @ Jonny 7, it’s hard enough to do business, let alone “under-the-table”

    @ Mr Anon, More than happy thank you. It takes me 30 seconds to get into the caribbean ocean from my front door. I have a beautiful wife and life is good. I drink lots of alcohol, excersise, smoke, eat well, have great friends and i’m trying my best. Oh and i’m the dwarf that’s a little bit taller than you ;-) xoxo

  238. You lucky thing Kyle, living in the Caribbean. When you moved there, did your wife want to move there too or did Jamaica?

  239. Kyle Dougan says:

    LOL I’m only laughing because it took me a few reads to get LOL. . ;-)
    St Vincent & The Grenadines actually.

Trackbacks

  1. [...] already written about Millennium Bank – the offshore bank offering 8% certificates of deposit that are not FDIC-Insured, let alone highly [...]

  2. [...] including Brentwood Bank. State Farm has had a variation of it for a while now as well. This is yet another product that uses clever marketing to hide important details from the less vigilant public. [...]

  3. [...] Back in 2005, there was American Business Financial Services, which imploded. Now there is Millennium Bank (based in St. Vincent), Zannett Notes, and CPS Notes. All offer well over 8% [...]

  4. [...] certificates of deposit paying insanely high rate north of 8% APY for the last several years. I stopped short of calling it a scam, but pointed out that common sense would state that such increased return could not exist without [...]

Speak Your Mind

*