Thousands of clients should have already been transferred to VallBanc

They admit that the accounts of thousands of clients should have already been transferred to VallBanc, once they were validated with the required information, but due to negligence, they never were…

The Banca Privada d’Andorra (BPA) involved in the world-wide scandal for defrauding thousands of clients, is desperately seeking to rid the numerous claims always with the unfulfilled promise of transferring the funds to the new financial institution VallBanc and to return the money to the affected investors.

The assistance and supposed leadership exercised by the current bank officials, amongst others Jaume Casals and Alexandre Saura, is not doing anything to help the companies nor the government of Andorra, due to the ineptitude and lack of capacity displayed by these characters. They have instead become experts in forging tactics of moratoriums, which hinder the process for the clients to get their money back.

To date there are 1 billion euros in accounts that have not been transferred to VallBanc, causing serious suspicions of fraud by managers and officials such as Jaume Casals and Alexandre Saura, which is why the clients are expecting their accounts to be transferred to VallBanc and once and for all end with this charade.

There is no reason to keep blocking the supposedly “suspicious” accounts, because “all of the requested information and documentation, which should be sufficient to validate all the transactions and pass over the accounts to VallBanc in the next transfer, is in the hands of the analysts of PricewaterhouseCoopers (PwC)”. The same current bank officials have admitted this with complete cynicism.

Even the analysts of PricewaterhouseCoopers (PwC) have admitted that they have all the documentation, but negligently yet not reviewed it. In addition, the BPA officials reaffirm that with the information they have at hand should be sufficient to analyse these accounts.

During the year that this process has lasted for, which already smells of a scam, the clients have provided an infinite number of documents to the ‘auditors’ (information that had already been provided previously) but without any positive result.

Moreover, at the same time in frank discourtesy, VallBanc has not answered the e-mails and phone calls or given a response to the status of the accounts of thousands of affected clients.

What is certain is that after everything that has happened, those who accused BPA to be the instrument of the Chinese, Venezuelan or Russian criminal networks to launder money, have been disagreed and not submitted any complaint whatsoever. The Americans themselves have admitted that they were wrong, that in fact, they had no evidence against anyone, but the Andorran government followed the game and now taken advantage of the situation to wangle the resources of the clients under the mantle of inefficiency and bureaucracy.