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Nov 13, 2018

Atlantic International Bank Limited Denies Any Wrongdoing

Atlantic International Bank Limited denies any wrongdoing. The bank was named in a civil complained lodge in the U.S. courts after the Federal Trade Commission shut down the multimillion-dollar ‘Sanctuary Belize’ real-estate scam. Atlantic International Bank Limited, which has a similar name to the local Atlantic Bank, but has no connection with that bank, posted a statement on its website on Monday.  The F.T.C. is alleging that Atlantic International Bank Limited assisted or facilitated the deceptive practices of a real estate developer and his associates. The bank rejects this allegation saying that, “AIBL enjoys a record as a good corporate citizen and trusted partner to its primary non-resident customer base. A.I.B.L. has worked tirelessly to develop its reputation as a sound and responsible partner in Belize development.” A.I.B.L. says that it will corporate with the F.T.C. to bring this matter to a quick resolution. The bank has retained the services of attorneys in both Belize and the U.S. to resolve this matter. The F.T.C. shut down the operation on Thursday last, announcing that convicted felon Andris Pukke was operating the scam over the period of fifteen years while incarcerated. Pukke is accused of collecting tens of thousands of dollars from clients who made payments to purchase a piece of land in southern Belize equipped with world-class amenities. He reportedly diverted the money, making payments for his bail and for his California house.

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