i had dealings with offshore bank and they cheated me...however they
do have banks in the u. s. and are listed on nasdaq....what is the
number one place i can file a complaint against they and stand the
best chance of getting a hearing?

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Request for Question Clarification by easterangel-ga on 14 Feb 2004 02:41 PST

Hi 211563-ga!

I really do hope you can get justice and hope that we can be of some
help to you. If the bank is in the US, I have found the regulatory
body that can help you. But first we need some info and clarification.

a.) When you say "stand the best chance of getting a hearing" it is
hard to determine this because the regulatory body I found must
investigate first your complaint. We have no way of knowing what their
final decision would be so taking the particular bank to court will
not be a certainty at this point.

b.) Would just pointing you to the appropriate regulatory body and how
you can make a complaint be ok as a legitimate answer to your
question?

Thank you!

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Clarification of Question by 211563-ga on 14 Feb 2004 06:41 PST

THE BANK IS THE BANK OF BERMUDA...THE LARGEST OFFSHORE BANK IN THE
WORLD...THEY HAVE SOME TWENTY OFFICES AROUND THE WORLD, ONE OF WHICH
IS IN NEW YORK.  IN L995, AT THE RECOMMENDATION OF MY ATTORNEYS, i
OPENED AN ASSET PROTECTION TRUST ADMINISTERED BY THE BANK...OVER THE
NEXT SEVEN YEARS THERE ADVICE WAS LESS THAN STELLAR....THEY CONVINCED
ME TO BUY SIXTY THOUSAND SHARES OF GLOBAL CROSSING, A BERMUDA
COMPANY...I LOST TWO MILLION...THEY CONVINCED ME TO INVEST MILLIONS IN
THEIR BANK STOCK, WHICH I DID, AND THEY TOLD ME THEY WERE GOING PUBLIC
ON NASDAQ WITHIN THIRTY DAYS AND THE STOCK WOULD GO WAY UP...I BOUGHT
IT AND THREE YEARS LATER IT WENT PUBLIC ON NASDAQ AT THE SAME PRICE I
PAID AND STARTED DROPPING LIKE A ROCK..THEY DISREGARDED MY ORDERS TO
SELL UNTIL THE STOCK HAD DROPPED TWENTY DOLLARS A SHARE SAYING THEY
THOUGHT IT WOULD GO BACK UP...WELL IT DIDN'T AND I LOST ABOUT A
MILLION..THIS WAS AFTER THEY GOT THE NASDAQ LISTING...NOW SURELY, THEY
SHOULD COME UNDER THE JURISDICTION OF THE US SEC AND BANKING
AUTHORITIES BY BEING LISTED AND HAVING A BANK IN NEW YORD...A BRANCH
BANK...HOPE THIS HELPS...RANDY

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Request for Question Clarification by politicalguru-ga on 14 Feb 2004 10:30 PST

Dear Randy, 

How did you receive advice from their staff? Through postal or email
correspondence? Going to their branch in New York?

Do you have any documentation on stocks that were bought on NYSE and/or NASDAQ?

---

Clarification of Question by 211563-ga on 27 Feb 2004 13:26 PST

NOT ANY OF THE LAWYERS SAID WE COULDN'T WIN THE CASE BUT TH3E EXPENSES
WOULD BE SOME 100,000 AND THEY DIDN'T WANT TO PUT ITUP KNOWING I WAS
QUITE WEALTHY...IN ADDITION , THE LAWFIRM IN ATLANTA IS VERY POWERFUL
AND THEY DON'T WANT TO TANGLE WITH THEM...ISN'T THAT SOMETHING...ONE
LAWYER AFRAID OF ANOTHER.

It's very difficult to complain against any bank anywhere unless there
is an effective complaints mechanism in place.

Here in the UK we have a Banking Ombudsman who is doing a pretty good
job within his fairly limited remit.

However, even he would not entertain any complaints about offshore
banks even where they are associated with banks in the UK ...

So, not very hopeful, I am afraid but - for your sake - I hope I'm wrong.

Good luck!

I HAVE ALL THE DOCUMENTATION ANYONE NEEDS...I FILED ONE COMPLAINE WITH
THE SEC AND MONTHS LATER ALL I GOT WAS A REPLY FROM THE BANK OF
BERMUDA WITH A COPY OF THE LETTER THEY SENT TO THE SEC ANSWERING MY
COMPLAINT.  THE SEC NEVER RESPONEDD.  THEIR RESPONSE, BANKS, WAS FULL
OF LIES AND THEY EVEN WENT SO FAR AS TO SAY NO ONE FROM THEIR BANK HAD
NEVER MET ME AND I HAVE A PICTURE OF ME, MY WIFE, AND THE SENIOR VICE
PRESIDENT SITTING AT A TABLE HAVING LUNCH AT THE BERMUDA YACHT CLUB. 
THE ADVICE WAS OVER THE PHONE WITH AN EMAIL CONFIRMATION GENERALLY. 
LET ME GIVE YOU EXAMPLE...AFTER THE LISTING WAS GIVEN TO THEM ON
NASDAQ THE STOCK BRIEFLY RAN UP TO FIFTY DOLLARS...AN ELEVEN DOLLAR
PREMIUM TO ME..I CALLED, TOLD THEM TO SELL IT ALL...TWO WEEKS LATER
WHEN I HADN'T RECIEVED A CONFIRM..I CALLED AND ASKED HOW MUCH WE
NETTED ON THE SALE...THEY SAID OOPS, WE SURE ARE SORRY BUT WE FORGOT
TO GET YOU TO SIGN A FORM ALLOWING YOU TO SELL YOUR SHARES ON NASDAQ
SINCE YOU BOUGHT THEM ON THE BERMUDA EXCHANGE SO NO SALE WAS
AFFECTED..NOW THE STOCK IS AT 35...I ASKED WHAT THEY WERE GOING TO
DO...AND THEY SAID IN A SURPRISED VOICE...WHY, YOU DON'T EXPECT US TO
DO ANYTHING DO YOU....TRUE STORY....HOPES THIS HELPS...THE BANK IS
BEING BOUGHT OUT RIGHT NOW BY SOME BRITISH BANK AND I'M FEARFUL IF THE
SALE GOES THRU IT WILL PROHIBIT ME FROM FILING A COMPLAINT...YOU ASK,
WHY NOT SUE,,BECAUSE THE LAWYERS WANT SIX FIGURES RETAINER TO TAKE ON
A FOREIGH BANK..

Hi, Again, Randy

The fact that your lawyers want a six figure retainer says it all!

If they had thought that you had a cat in hell's chance, they'd have
offered you a contingency fee deal.

It's tough but I think that you have seen the last of your dough. I am
sure that it's no consolation to know that you are not the first to
have fallen prey to crooks.

Best forget it!

Other folks in similar circumstances become overly obsessed and it
drives them round the bend.

Once you accept it, you'll be OK!

Bryan

THANKS ANYWAY BRYAN...I JUST ASSUMED WITH THE NATIONL ANTI SENTIMENT
AGAINST FOREIGH BANKS RIGHT NOW, WE MICHT STAND A CHANCE TO FILE A
COMPLAINE AND THEY WOULD SETTLE RATHER THAN RISK THE COMPLAINT WOULD
SCREW UP THE SALE OF THE BANK TO THE OTHER BANK.  EVEN THE LAW FIRM IN
ATLANTA IS RUNNING FOR THE HILLS DENYING THEY HAD ANY RELATIONSHIP
WITH THE BANK OF BERMUDA....