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Update as of 31 December 2013
Clients who have not complied by March 1, 2014 with FCIB's wind down
procedures, as published on FCIB's website in December 2006 and March 2007,
are in breach of FCIB's applicable Account Terms and Conditions ("GT&Cs"),
and as a result will be held responsible for the extra expenses incurred by
FCIB in an amount equal to 15% of the client's balance on each account plus
all applicable fees and charges.
At that time the accounts of all such Clients will be closed, and the Bank
will hold their funds in an account of the Bank where they will be available
for payout once the client has satisfied the applicable requirements. All
funds held in such account will be subject to an administrative handling fee
to cover the Bank's costs for holding such funds.
In addition, FCIB reserves all rights it may have with respect to damages
resulting from other breaches of the GT&Cs.
Update as of 30 August 2013
MONTHLY MAINTENANCE FEES
For clients who have not yet complied with FCIB’s wind down
procedures, as published on FCIB’s website in December 2006 and in March
2007 (and as a result have caused the bank to incur unnecessary expenses),
in addition to the bank holding those clients responsible for such expenses,
the Monthly Maintenance Fees will increase effective as of November 1st,
2013 from US$ 50 to US$ 250 (or the foreign currency equivalent thereof).
This is in accordance with the FCIB’s Account Terms and Conditions.
For clients who have complied with FCIB’s wind down procedures and have
already received seventy-five percent (75%) of their account balance(s)
prior to September 1st 2013, there will be no increase in Monthly
Maintenance Fees. The accrued Monthly Maintenance Fees of US$ 50 per month
(or the foreign currency equivalent thereof) from April 1st 2007
until the date they received the seventy-five percent (75%) payment, will be
deducted from the final payment. This is in accordance with the FCIB’s
Account Terms and Conditions.
For clients who have not complied with FCIB’s wind down procedures prior to
November 1st 2013 the accrued Monthly Maintenance Fees from September 30,
2006 until the date they will receive their 75% payment will be deducted
from the 75% payment when made.
For clients whose respective accounts have insufficient funds to cover the
total accrued Monthly Maintenance Fees, whether they have complied or not
with FCIB’s wind down procedures, their respective account will result in a
zero balance after the accrued Monthly Maintenance Fees have been applied.
Accordingly, in order to avoid incurring additional costs in keeping these
account(s) open, and in accordance with the Account Terms and Conditions, we
have set-off the fees owed to us and have closed the account(s).
If any client requires information concerning their account, the client must
contact FCIB by email within thirty (30) days of the account closure
notification date, at which time we will provide the client with wire
transfer instructions for advance payment of the fees as listed below.
After such 30 day period, FCIB will proceed and apply any such measure as it
may deem fit to comply with its wind down procedure.
Fees to be paid for account information, in the currency of the account:
- Copy of the Account opening forms:
250.00
- Copy of Bank Statement:
250.00 (each)
- Correspondence:
50.00 (each)
- Copy of swift:
50.00 (each)
- Any other document
pertaining to the account: 50.00 (each)
Update as of 31 July 2013
Deuss en FCIB treffen
schikking
John Deuss, zijn zus Tineke Deuss en
de First Curaçao International Bank zijn met de Staat der Nederlanden (het
Openbaar Ministerie) een regeling overeengekomen die voorziet in beëindiging van
alle nog lopende juridische procedures. Het hoger beroep in de zaak betreffende
de vermeende overtredingen van de Wet toezicht kredietwezen 1992 is ingetrokken
en het eerder ingestelde onderzoek naar verdenkingen inzake "witwassen" is
afgesloten. Ook de civielrechtelijke procedures tegen de Staat zijn ingetrokken.
De ontnemingsvordering van het Openbaar Ministerie betreffende het vermeende
bankieren zonder vergunning, is geschikt voor een bedrag van 34½ miljoen euro.
De
schikking is door Deuss en FCIB aangegaan zonder vaststelling van feiten en
zonder erkenning van schuld aan enig strafbaar feit. De schikking komt voort uit
pragmatische overwegingen. Het onderzoek houdt de betrokkenen al zo'n zeven jaar
bezig en is tijdrovend en kostbaar. De juridische procedures zouden zich nog tot
in lengte van jaren voortslepen. Dat wordt nu voorkomen.
Deuss and FCIB Reach Settlement
John Deuss, his
sister Tineke Deuss and the First Curacao International Bank have concluded a
settlement with the State of the Netherlands (the Public Prosecution Service),
which provides for termination of all pending legal proceedings. The appeal in
the case regarding the alleged violations of the Credit System Supervision Act
1992 has been withdrawn and the investigation previously conducted into the
suspicions concerning "money laundering" has been closed. Also the civil-law
proceedings against the State have been withdrawn. The Public Prosecution
Service's request for a confiscation order regarding alleged unlicensed banking
has been settled for an amount of €34.5 million.
Deuss and FCIB
entered into the settlement without proof of any facts or admission of guilt of
any offense. The settlement is the result of pragmatic considerations. The
investigation has kept the parties busy for almost seven years already, and it
is time-consuming and costly. The legal proceedings would have dragged on for
years on end. This is now prevented.
Update as of 1 January 2009Effective January 1,
2009, after the funds in your account have been approved for payment, a transfer
representing 75% of your account balance will be made in the original account
currency.
For those clients with accounts in more than one currency,
FCIB will have the option to make a single wire transfer, totaling 75% of the
balance of the accounts, in the currency of the account with the largest
balance.
This new policy and procedure is valid for all transfers
made after January 1, 2009.
Update as of 29 March 2007
Further to the website notification dated March 21, 2007, please note that no telephone calls will be accepted either at the Central Bank or at the offices of First Curacao International Bank N.V.
In order to receive any information on the status of your transfer or for any other information related to your account, you should send an e-mail to compliance@firstcuracao.com.
Your inquiry will be investigated by the appropriate staff and replied to by e-mail within two business days.
Update as of 21 March 2007
In view of a court ruling in Curaçao of February 16, 2007, First Curaçao International Bank (hereinafter FCIB) has prepared a procedure for closing accounts and making payments of account balances.
All clients need to fully satisfy FCIB’s KYC/EDD requirements.
The clients in the categories mentioned in the court ruling need to also satisfy the procedure set out in Annex1 hereto. The Auditor's Report, as per Annex2 (in Microsoft Word format or in PDF format), is an essential document to be provided by these clients and it is important that the auditor uses this report as closely as possible and follows carefully the explanatory notes.
In addition FCIB may request by separate email, that auditors confirm certain transactions were included in “all transactions“ as referred to in the Auditor's Report.
Upon satisfactory completion of above procedure, it is intended that 75% of the account balance(s) will be paid within 15 working days after approval by the Central Bank of the Netherlands Antilles, provided that there are no
court orders, (criminal or civil) to freeze the account. Information on the settlement of the remaining balances will be communicated at a later date.
For the execution of payments, FCIB requests all clients to complete the manual wire instruction form as per Annex3 (in Microsoft Word format or in PDF format), hereto,
unless the wire instructions were provided previously.
If you have not yet submitted the recently requested documents, please ensure the following:
- Submit all documentation and the final payment instructions in one package for ease of processing along with your account number for cross-referencing.
- Documentation is certified by a notary as indicated.
- In case you are unable to provide some of the requested documentation, please indicate the reason to us.
All the above documentation needs to be sent by courier to the following address:
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First Curacao International Bank N.V. |
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Kaya W.F.G. (JOMBI) |
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Mensing 18, Zeelandia |
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Curaçao, Netherlands Antilles |
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Telephone: +599 9 465 0100 |
For account statements contact compliance@firstcuracao.com.
For any update please check this website regularly.
Bank van de Nederlandse Antillen
Update as of December 14, 2006
On October 9, 2006, the Central Bank of the Netherlands Antilles, further in this article referred to as the Bank, revoked the license of First Curaçao International Bank NV (further referred to as FCIB) established in the Netherlands Antilles to operate as a credit institution. Subsequently, the Bank requested the Court of First Instance in the interest of the FCIB’s accountholders to subject FCIB to the emergency measure. The Court honored the request and pronounced the emergency measure on the same day. The measure has authorized the Bank, to the exclusion of any other party, to perform all the powers of FCIB’s managing and supervisory directors and to subsequently unwind FCIB as a banking institution.
As part of FCIB’s unwinding process, the Bank encountered three issues that had to be resolved before it could initiate the payment process of FCIB’s accountholders. The issues were:
- the legal aspect: as a result of criminal investigations in the United Kingdom and the Netherlands, the Bank has faced legal actions undertaken by judicial authorities which it had to take into account. For example, a significant part of FCIB’s administration was confiscated which made it impossible for the Bank to analyze the database of FCIB’s accountholders and to easily determine the exact amounts owed to them. Furthermore, solutions had to be sought because of the fact that a few correspondent banks and other banks discontinued to conduct transactions on behalf of FCIB.
- the liquidity aspect: in order to accomplish an expeditious and correct payment of FCIB’s accountholders, the Bank had to determine whether or not FCIB’s assets had to be converted in cash or in any case come up with a suitable solution enabling as much as possible the full repayment of accountholders.
In order to expedite the process of returning the funds on the client’s accounts, an advance will be made to all clients, amounting to 75% of the balance on the account.
You are hereby requested to make a wire transfer, on line, out of your account to your account with another credit institution, under your own name, for the total balance on the account.
An advance of 75% of the balance will be transferred immediately, after it is approved by the proper authorities.
The remaining final payment will be effected automatically, as per the instructions on the original wire, once the winding down process is completed.
Important notice:
We highly recommend that you print out a copy of any statement of your account that you might require as after your wire instructions are effected, the account will be closed and no statements can be provided after that.
- the technical aspect: as a consequence of criminal measures taken by a few judicial authorities and the fact that the server had been switched off, it became very difficult to keep FCIB’s payment system up and running. Consequently, the system had to be operated manually which resulted in additional delays for which an alternative had to be sought.
In the meantime, the Bank has almost fully analyzed FCIB accountholders’ database and solutions have been found for the majority of the problems encountered. Therefore, the Bank now deems it highly probable that payments will be initiated before the end of the year. It is very obvious that payments can not be made to accountholders being subject to a criminal or civil embargo injunction.
Those accountholders, who have not yet sent in their final transfer instructions to FCIB via the website, are requested to do so as soon as possible. Be informed that payments are processed manually and therefore payment instructions can not be executed immediately.
Bank van de Nederlandse Antillen
Press Release 06-013 Bank van de Nederlandse Antillen.
FIRST CURACAO INTERNATIONAL BANK N.V. SUBJECT TO THE EMERGENCY MEASURE
As a result of several criminal investigations in relation to alleged VAT fraud involving a large number of customers, and subsequent attachments on funds FCIB has come into a position in which it no longer is able to process payments, also because a number of correspondent banks have terminated their relationships with FCIB.
In the interest of the joint creditors of FCIB the Bank van de Nederlandse Antillen decided to revoke FCIB's banking license on October 9, 2006 and to request the Court of First Instance to put FCIB into the emergency measure as described in section 28 of the National Ordinance on the Supervision of Banks and Credit Institutions 1994, which the Court has done.
The emergency measure includes that the powers of management and supervisory directors of FCIB now exclusively rest with the Bank van de Nederlandse Antillen. The Bank van de Nederlandse Antillen will do its utmost to as soon as possible return the funds to the creditors, after a thorough investigation has been completed.
Willemstad, October 11, 2006
Bank van de Nederlandse Antillen
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