PRESS RELEASE OF CARIBBEAN BANK, CLAIMING THAT ITS CORRESPONDENT BANK ACCOUNT IS NOT BEING CLOSED, IS NOT CREDIBLE

                                                                                                                                                          

Our recent article, "TD BANK HAS COMMENCED TERMINATING ITS CORRESPONDENT RELATIONSHIP WITH THE BANK OF SAINT LUCIA" has been met with a denial on the part of the Bank of Saint Lucia which, in an unsigned and uncredited press release, disputed the facts in our story. We note that the information, though it was first obtained from a financial industry source outside the bank, was then confirmed to us by a banker in the employ of BOSL. We understand the bank's concern with keeping that information confidential, as it could cause customer and clients to move their accounts elsewhere, to a local financial institution which still enjoys an active correspondent relationship with an American bank.

Nevertheless, we wish to advise that the information is indeed true and correct; the termination of the TD Bank correspondent account of BOSL is in progress at this time. It is regrettable that BOSL's senior management has sought to conceal it from the public. The three senior bank officers involved in leading the institution are all believed to be among the forty individuals set to be named for their involvement in financial transactions  for illegally-discounted Saint Lucia economic citizenships, which we understand will be submitted to the American regulator, the Financial Crimes Enforcement Network, whose enforcement powers regarding money laundering include referrals for criminal prosecution.

We understand that a letter is going to to the Eastern Caribbean Central Bank Chairman  to confirm the identity of the banker inside Bank of Saint of Saint Lucia who disclosed the information of TD bank's ongoing action, and who also explained that politicians now control the communications issued by  the bank . Remember, it is the legal duty of the bank not to conceal information from its shareholders.

The bank's management, whose remit is to serve the public, has been completely co-opted by the country's corrupt politicians, and one of the results is the loss of confidence in the bank on the part of its corresponding institutions in the United States. Unless and until control of the bank is regained by responsible bank management, we fear that more negative events will be appearing in the future.