Author Topic: Bank Fraud in Jersey  (Read 54730 times)

Offline Fritz

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Re: Bank Fraud in Jersey
« Reply #30 on: November 23, 2011, 02:31:30 AM »
I wouldn't trust a bank to look after a dead dog.

One day a person is working behind the counter of Spar, the next day they are working in a bank advising people on how to invest (loose) their life savings.

I think that , due to the current climate, you are more likely to find former financial advisers working behind the counter at Spar.
Good to see schemes like , "Advance to work", etc finding placements to match their actual abilities.

Offline selebi

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Re: Bank Fraud in Jersey
« Reply #31 on: December 21, 2011, 10:18:08 PM »
I would like to wish all of you who offered support during the year a happy and peaceful Christmas.

Best wishes
George

Offline boatyboy

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Re: Bank Fraud in Jersey
« Reply #32 on: December 21, 2011, 11:04:30 PM »
Thanks to Eddythealien2003 for suggestion to obtain data from SCJL.  I requested it a couple of weeks ago and chased them again today, they are working on it.  Hopefully something can be found amongst the files that will persuade JFSC to do something.
Selebi


Hi George,

Hope you and your family have a lovely Xmas, and you mentioned in your above post that you would keep us informed. Did you get the information you requested from JFSC  ?

Best Wishes

Boatyboy.

Offline selebi

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Re: Bank Fraud in Jersey
« Reply #33 on: December 23, 2011, 02:38:30 AM »
Sorry

box came a week ago just as I was leaving on a work trip.  Only just back.  First job after Christmas is to go through it.  Phone records only posted by bank today.

Thanks for interest

Offline selebi

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Re: Bank Fraud in Jersey
« Reply #34 on: March 01, 2012, 01:21:38 AM »
Well there are 1000s of pages of paper, no date order and much duplication but working through it.  Telephone record was useful as it confirmed the senior financial advisor at SCJL stating that SCJL had arranged for the investment to be put together for them and also that SCJL had given money to Lehman US and not to correct issuer.  Forwarded to JFSC but as yet no response...  They are probably waiting for SCJL to tell them what to say.

There were also internal Standard Bank documents in the pile indicating how the bank "investigates" complaints when requested by JFSC.  The guidance to staff member is that if resolving complaint will not cost Standard Chartered anything then apologise and rectify.  If complaint will cost SCJL and no chance to recover later then deny any wrong doing and use standard response.  Quite amazing.  Vety thorough invetigation technique.

Standard Chartered refunded customers in HK last year and excuse for not doing so in Jersey is that customers in Jersey belong to Standard Charterd Private Bank.  This was news as we had started with ordinary savings account in 1982 and had never asked to be classed as "Private Bank"customers.  Looking through the paper work we found that Standard Chartered regularly change their name in Jersey, must be to confuse people.  will continue as box full

Offline selebi

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Re: Bank Fraud in Jersey
« Reply #35 on: March 01, 2012, 01:31:52 AM »
Looks like it began as
Standard Chartered Bank - Jersey Branch
then
Standard Chartered Bank (CI) Ltd
then
Standard Charterd Grindlays (Offshore) Ltd
then
Standard Cahrtered (Jersey) Limited
and now is apparently
Standard Chartered Private Bank
maybe they are trying to confuse customers.

Another interesting item is that an organisation called Jersey Finance helps SCJL prepare their response.  Not Sure who Jersey Finance is but they cautioned SCJL not to appear too heavy handed.

Thanks again for encouragement - it is needed
George

Offline selebi

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Re: Bank Fraud in Jersey
« Reply #36 on: March 09, 2012, 12:44:34 AM »
Well had response from Jersey Financial Services Commission just now.  Yet again no help. 

They say that they will not consider an internal review by Standard Chartered (which was covered up) that found that the adivisor had indeed said we would have no US exposure, had indeed said that we were being sold a Standard Chartered product and most serious of all pointed out that the advisor had incorrectly completed the risk assesment and that investment was therefore not suitable. 

JFSC also will not explain how switching investments is acceptable either. 

JFSC also will not address how a product stated to be unsuitable for risk averse customers by UK authorities is considered to be OK in Jersey.

Have sent file to chief police officer to see if they might review in light of what has come out of info supplied by SCJL at Christmas.  Anyway that is the update.

Offline imacrappaud

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Re: Bank Fraud in Jersey
« Reply #37 on: March 09, 2012, 01:53:06 AM »
I've been following your story and it's been interesting to say the least.

In my opinion the real answer to all of your responses from JSFC is they just cannot be bothered to make the time and effort involved. All of your sentences such as JSFC also will not explain how switching investments is acceptable either shows to me that they simply cannot be bothered to do their job.

I think the JFSC is just there to give employment to people who cant do their job properly in a private finance capacity. They are a waste of space as I am sure you have found out.

Good luck to you but I have to say I think going to the chief of police will get you no further in our insular society. No, our insular government because most normal people would want to see you get your justice whereas our government couldnt give two hoots unless it concerns one of their fellow comrades.

Offline Calimachon

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Re: Bank Fraud in Jersey
« Reply #38 on: March 09, 2012, 03:41:41 PM »
I do hope the Chief of Police responds and follows up your case.  I do believe that there was a special department or police officer designated and trained to deal with financial forensics - I do hope that is still the case and that they can help you.

I also hope they don't drag their feet and deal with your request promptly.  Some good people of Jersey would like you to get justice.

Cali :)
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Offline selebi

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Re: Bank Fraud in Jersey
« Reply #39 on: March 09, 2012, 09:52:02 PM »
Thank you both.  I do think JFSC and the bank are a little too cosy after reading some of the e-mails between them - apologising for bothering them etc.

Two Senators really did try to help Francis Le Gresley and Sarah Ferguson.  Sarah in particular had a lot of resistance from both JFSC and SC; now that I have access to internal SCJL e-mails I can see how much she tried and got rebuffed.  Not surprising she gave up as she was told that politicians should keep out of finance industry matters.


If all else fails then I will need to get to Jersey later in year and see what can be done as private court case without a lawyer.

thanks again

George

Offline imacrappaud

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Re: Bank Fraud in Jersey
« Reply #40 on: March 10, 2012, 01:26:01 AM »
Not surprising she gave up as she was told that politicians should keep out of finance industry matters.
George

Quite Ironic considering the uk government (politicians) agreed to bail out some banks, I wonder if she would have had the response if you were with one of them, I dont recall SC being bailed out so hope I have not missed that. Also ironic that our government introduce zero ten and they hark on about how we need to keep our finance industry.

Anyway, good luck.

Offline Lokel_Yokel

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Re: Bank Fraud in Jersey
« Reply #41 on: March 16, 2012, 05:05:31 AM »

If all else fails then I will need to get to Jersey later in year and see what can be done as private court case without a lawyer.

thanks again

George

I remember stopping to read your placard during your last visit - I vaguely remember saying a few words, probably along the lines of "good luck with that".........
 
I don't remember the ins and outs of your story, and frankly don't really care - in many respects I have little sympathy for anyone who stuffs there money into things they either don't understand or control, let alone does so using the "magic" of offshore. Appreciate that might sound a bit unsympathetic, but that's just how it is. Just be glad you didn't have any dealings with the average Jersey Trust Company......they make Monkeys writing Shakespeare look competent  :P .
 
Having said all that, here is what I would do - play mean!
 
1) IMO pretty much wasting your time doing anything in Jersey - but nonetheless worthwhile for you to find out how the legal options available to you work in practice.
 
2) Personalise the dispute. By now you probably have a good idea of the folk involved at SC - what you want is to work out the staff structure and reporting lines from the individual in question up to and including the board of Directors (both at the time and current, if different), and I would also include the Compliance Dept in that. Do some Googling (Linkedin.com will probably be useful, and probably facebook) and build up a file on each person, especially past jobs. some pics would also be nice.....and then plaster the information onto your own website, along with the allegations - keep it factual (don't want to get sued!) but can add a bit of NoTW spin onto what you write (without getting all ranty!)......sooner or later one or more of them will be looking for another job, and the higher up they are the more likely there background will be Googled up.
 
3) Get their home addresses - and write to them (preferably from a lawyer), don't expect anyone to put there hands up but allows you to ask questions that you can refer to on your Website - with or without answers. NoTW style  ;D . Addresses will also be needed later for the subpoenas.........
 
4) widen the battlefield - sounds like the products had some connection to the US, even if remote / vague. I would look to raise the matter in the US (New York?) as both a civil and criminal matter - even if you expect things to never progress. Ideally you want a Lawyer or Judge to issue subpoenas / collect depositions not only to SC but to the individuals concerned - not as witnesses, but as co-defendants! (some would have directly profitted from selling you the products, others indirectly). Good fodder for ya Website......plus the US has some real scary laws, which basically mean that if the Govt wants ya - they get ya. Wire Fraud and Conspiracy spring to mind....more than one involved is a conspiracy! anything that passes through US jurisdiction (whether money or e-mails is in their remit), anything involving US Dollar is a US treasury matter.....not just on the original transaction but on the subsequent events (a cover up?!).
 
Obviously the likely first reaction of the US authorities is SFA to do with them - in many respects the SEC etc are more inept than the JFSC, but there claws and reach are bigger. far bigger. In an ideal world you want to find someone (within either the American judicial system or politically - ideally both) who is interested in scoring some cheap points by going after a soft target in offshore tax havens who are "stealing all the money / jobs of hardworking Americans, blah, blah, blah" - remember it is US election year, everyone likes cheap points! An easy way to also send a shot accross the bows of Offshore world (all the more for Delaware!). The benefits of your case is that you are not a US freindly Saudi Prince, nor a Gulf State Minister for Internal Security - so no fallout for the US. Plus SC is not a US Headquarted bank, so no self interest at play.
 
If you can get some traction in the US, then my bet is that you will get offered a settlement. Ain't no one from Jersey wants to visit the US risking jail time (first to squeal gets the deal!) - and the Jersey board probably don't want the case discussed at Group level, let alone Group coming to do some digging and then use as an excuse for scapegoating for other reasons (office politics get meaner the higher up ya get!).......and JFSC probably would be happy to avoid being criticised in passing.....hell, they would be very happy not to appear on the Radar of anything in the US.
 
 
Just to clarify, am not a Lawyer - nor have I ever worked at SC.
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Offline selebi

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Re: Bank Fraud in Jersey
« Reply #42 on: April 02, 2012, 12:14:32 AM »
Thanks for the thoughts anyway.  Just heard from Jersey police that they will re open the complaint in light of internal document from SC admiting Anna Pawlyszyn's lies and falsification of the uitability assesment.

Will keep posted on any outcomes.

George

Offline selebi

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Re: Bank Fraud in Jersey
« Reply #43 on: April 05, 2012, 10:54:40 PM »
Quick update. 

Received a rather threatening e-mail from a Mr Miller at Standard Chartered in London accussing me of libel and defamation.  I guess they do not like the truth.  It appears that letting everyone know that Standard Chartered's in house review had confirmed that Anna Pawlyszyn had indeed told me that we would have no exposure to US financial institutions and that she had falsified to suitability assessment has upset them.

Would anyone know if there is a way to post a powerpoint slide show on the web, either here or on youtube or somewhere?  Time to push back.

George

Offline selebi

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Re: Bank Fraud in Jersey
« Reply #44 on: April 16, 2012, 08:35:17 PM »
Just heard back from Police.  They agree that verbal and e-mail information contradicts term sheet for SCJL European Banking Recovery Note but will not consider internal review by SCJL confirming Anna Pawlyszyn lied nor fact that SCJL product not delivered but replaced with Lehman product.  They say it is civil matter as cannot prove beyond doubt that lies were intentional!

Two choices now, use US lawyer or try self managed case as suggested some time ago by another member.

George