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*** To ALL SSBT clients ***
Internal Administrator
Posted: Friday, August 12, 2011
Joined: 10/12/2010
Posts: 5780


Posted: 3/9/2001 8:24:21 PM

By: Michel Harajchi - SSBT

There have been a lot of rumors regarding SSBT in the past few days. I will set the record straight on some of them. Nobody has "run off" with any money. SSBT’s license suspension was an unlawful act by the Governor of The Central Bank of The Bahamas. A court injunction was issued AGAINST the Central Bank to prevent them from doing what they did. SSBT’s attorneys are filing contempt of court charges against the Governor next week.

There will be a press conference held here in Nassau this coming Monday. It will be held at the office of Mr. D.Ryan who is one of the lawyers representing SSBT.

I fully realize that SSBT’s depositors are VERY concerned about their assets in the bank. Especially with all of the rumors which have been floating around. If you are a client of SSBT, please contact our attorney at his office for full information on what the current status is. His information is as follows:

Derek Ryan
Phone: (242) 394-1187/8
Fax: (242) 394-1189

I also STRONGLY encourage all SSBT clients to express their outrage on this current situation with the government officials here in The Bahamas. Do not be afraid to contact the following:

Central Bank of The Bahamas
Phone: (242) 322-2193
Fax: (242) 322-4321

The Governor of The Central Bank (the man directly responsible for the current situation)

Phone: (242) 302-2700/1

Office of the Prime Minister

Phone: (242) 327-5826
Fax: (242) 328-8294

Office of the Minister of Finance

Phone: (242) 327-1530
Fax: (242) 327-1618

Your active involvement in this matter will assist SSBT.

There have also been rumors that SSBT will be liquidated. This is simply wrong! SSBT will have its license restored through the courts and will continue to operate despite the outlook of the current situation.

I would greatly appreciate if this posting can be forwarded and/or posted on as many sites as possible. It is important that all of SSBT’s clients know the facts and not fall victim to rumors.

Many have expressed their support for SSBT in the past few days and for that I would like to sincerely thank them. We are not going anywhere!

I will keep everyone posted as additional news develops.

P.S. This board requires an e-mail. However, as my computer equipment is in the office I will be unable to answer any e-mails at present.


Anonymous
Posted: Friday, August 12, 2011

Posted: 3/18/2001 2:44:18 PM

By: ssbt client xxxx

This is a late response to your message, which was appreciated. However, your omissions still add to my worries as a client. There is nothing published by SSBT that I can find which identifies and responds to the specific charges of the Central Bank of the Bahamas. I have heard rumors (from people who have spoken with SSBT officials and attorneys), that the issue was over SSBT's issuing credit cards, but if that were all there is to it, one would have assumed there would be a resolution by now---apparently the U.S. IRS is tracking these, so I could understand the wish to stop them.

If you or someone else affiliated with SSBT would print the Central Bank's original communications or order of suspension, it would clarify what started the mess. Also, if someone would print court updates (so we could understand why it is taking so long to resolve a simple issue without merit), that would also help.

If SSBT could comment on the two January 2001 lawsuits in the U.S. which have seized or frozen over 4 million in SSBT assets, this would also help to allay (or worsen?) our fears.

Finally, SSBT could greatly allay our worries by commenting on the (hopeful) validity of its claims to clients that all client deposits are held by Tucker Anthony and therefore all are insured. Even if this is true (and I cannot understand why SSBT would not have communicated this to us, through you or others), I am wondering what the U.S. lawsuits have done to these funds.

Any comment on any of these subjects would be most welcome for those of us who are hoping for an SSBT victory--Such comments could perhaps even stem the virtually inevitable run on the bank if it does reopen.


Anonymous
Posted: Friday, August 12, 2011

Posted: 3/12/2001 9:20:46 PM

By: ssbt client

The problem is that Gilbert Ziegler of FIBC still says similar things after all the funds have gone.How do we know this is any different?How are our funds secured and protected?Why was your account info to us as clients not on a secure site?


Anonymous
Posted: Friday, August 12, 2011

Posted: 3/10/2001 5:51:30 PM

By: ssbt client

Thx u Michel for setting the record straight


 

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