For months, we’ve been reporting on the problems at Choice Bank - an offshore bank in Belize City. In early April, the Bank told customers that it’s in a liquidity crisis, and it suspended all withdrawals from deposit accounts with the Bank. This has caused profound concern amongst the bank’s deposit holders - who are mostly foreign or expatriate.
But, one of those international clients is not just concerned, she’s panicked! Anja Schoneveld has filed a sworn affidavit alleging that Choice Bank pans to wind down operations by the end of this month. Schoneveld is asking the court for an injunction to, quote, “prevent the dissipation of funds…”.
The injunction claims that Choice has brought in a company to quote, “wind down the bank.” The affidavit quotes a phone call she had with this third party company where their representative, says, quote, “our job is to try to settle or…try to sell the assets as quickly as possible…” End quote.
This will sound alarm bells for Choice’s depositors who could stand to lose substantial sums - if the allegation is accurate. We could not reach Choice Bank for comment - and the Central Bank’s Deputy Governor declined comment. We’ll keep following the story and trying to get comment.