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Panama: HSBC Sues Customer for Yahoo Postings

#1: From Panama's Noriegaville News: Uproar among expats about HSBC Panama SLAPP suit

If the intention was to silence criticism of its service, the attempt has already miserably failed. A storm of protest and foreigners closing their accounts has so far been the result of a lawsuit HSBC Panama has brought against its client Peter Gordon for damages to the tune of $5,000,000 as a result of the defendant criticizing HSBC's service in two messages on a members-only Yahoo group and in 19 private letters to the bank…Read the complete post!

#2: From Chiriqui Chatter: HSBC vs. Peter Gordon

Once upon a time, a long long time ago, there used to be a contributor in many of the Panama Yahoo groups by the name of Peter Gordon. All of a sudden he quit posting. Recently, Don Winner explained why Peter had become so mute.

It appears that Peter Gordon had complained about the service he was given by HSBC on many of the Yahoo groups that he participated in. When the dust settles, maybe the full story will come out. However, for now, it appears that HSBC (according to Don Winner’s article) is suing Peter Gordon to the tune of $5,000,000. As Don says, “Holy Crap, Batman”Read More

A visitor's comment on this thread, regarding the same issue reads:

In the US HSBC, which we should remember is the Hong Kong Shanghai Bank, has enforced such oppressive contracts that one must now use binding arbitration. If HSBC slaps the customer with a $39 late fee it would cost between $5000 and $10,000 to dispute the fee. Obviously it will not happen. Having said that please remember that Shea v Household (HSBC) claimed late application of payments as far back as 1994. It still happens today. HSBC settled Shea v Household for $11 million (USD).

From credit cards to banking to mortgages to sub-prime mortgages HSBC has been likened to Providian, where high interest, overlimit fees, and late charges finally atttracted the attention of regulators. While perhaps guilty of the same and well deserving of the Providian comparison, HSBC decided on another path.

Sue customers, hold them to binding arbitration, and change US bankruptcy laws. Follow up by changing US postal regulations so one cannot track statements. Then structure HSBC USA whereby one holding company owns another which owns another. In the end the final holding company claims state regulation and not federal regulation and stalls any investigation. (T. Blake)

#3: From HSBC Interactive: HSBC Sues Customer for Yahoo Postings

I am a US citizen living in Panama. I recently learned of a very disturbing lawsuit filed by the multi national banking conglomerate HSBC in Panama – a country where anyone can be criminally prosecuted or civilly sued for defamation even if the statements that are the subject of the suit are absolutely true (truth is not a defense). The suit was filed by HSBC’s Panama branch, which is (I believe) an affiliate of the US corporation, against a British resident of Panama, Peter Gordon.

Peter had been a customer of HSBC Panama but cancelled his accounts because he was unsatisfied with HSBC’s service and felt they were nickel and diming him with excessive and unwarranted fees.

He posted numerous messages on several yahoo groups catering to foreign expats living in (or planning to move to) Panama warning people not to bank with HSBC because of poor service and excessive fees. Last year, the bank sued him civilly for defamation based solely on the yahoo
group postings (the suit seeks $5 million dollars in “lost business”) and got an order attaching not only his personal assets, but also the assets of a charitable foundation he had set up. (Panama law allows the plaintiff in a lawsuit to attach the defendant’s assets and freeze them until the lawsuit is resolved, which usually takes years.) Read More…

#4: From Panama Guide: And This is Why you Can't Just Run your Mouth

I happened to be in the Sala Civil of Panama's Supreme Court this afternoon, and I ran into a public announcement in the case of HSBC vs. Peter Gordon. According to the case file (which I read) HSBC is suing Peter Gordon for $5 million dollars in a civil case, alleging damages caused by Mr. Gordon through email exchanges on Internet discussion groups, as well as letters and other means of communications. The case file that I read was an attempt by Mr. Gordon's lawyers to have a "secuestro" removed from a private foundation called "Geelong." Read More…

 

  • Adrian Vance

    Now we may know why so many foreigners put their money in US banks. This is so crazy it is really hard to believe. The complainer customer may be the world’s biggest jerk, but $5 million? That tells us a lot all by itself. Will anyone be amazed when they look back and have to say, “That was the case that change Panama forever.” No matter how it turns out I cannot imagine anyone appraised of the facts would ever want to put any money in any Panamanian bank.

    Adrian Vance

  • http://el-oso.net/blog David Sasaki

    In fairness to Panamanian banks, HSBC is headquartered in Hong Kong and was first “established by Thomas Sutherland, a Scot, to finance British trade in the Far East in 1865.”

  • Dick Stern

    So much for any security in a Panamanian foundation.
    The action by this Judge may well indeed cost Panama much more than 5 million dollars. This story is much more about how Panama as a country and it’s Judges than banking….

  • http://cookingdiva.net Melissa De León Douglass

    Exactly!

  • rod davies

    As a naturalised Panamanian living in Mexico. I have to concur that the lack of interest to clients problems by HSBC in Panama is beyond belief.

    In spite of filing all the correct information 5 times plus a telephone call to the bank a week ago and again today when I waited 10 minutes on an international call, without managing to speak to anyone, just a recording, all this in an effort to try nd obtain an access code so I can check my account status and from which I am shut out.

    Lousy service reflects a lousy bank!!!

  • http://www.facebook.com/people/BocaTanning-West-East/1528062196 BocaTanning West East

    What give HSBC the right to sue anyone when they do wrong. In 2007 HSBC helped client Salvatore Vincent Frieri Gallo move millions from HSBC Swiss to HSBC Panama then HSBC Venezuela. This was not the first time. Salvatore and his brother and a group of brokers from Miami had been buy illegal bonds from Venezuela ment for for Venezuela citizens. Frieri sent millions to Venezuela black money exchange then brought people’s ID cards to make request to the Venezuela government bonds 1000 of accounts these people have no clue frieri was using their names. In March of 2007 ECG made a complaint to HSBC about Salvatore and what he did with the money. Salvatore with his great relationship with HSBC ended up with all of ECG bank information. New account documents information Salvatore had no right to have. Its wasn’t until Nov 2012 HSBC told the judge in Panama court they closed ECG accounts because of Aml issues. They never filed a Sara but closed the account they kept doing business with Salvatore Frieri who is now running from Colombian police for fraud and AML issues. HSBC destroyed ECG they put the company out of business. No other bank in Panama would open a bank account for HSBC. I know HSBC to keep me from talking will file a lawsuit against me one day. Until then I’m hoping the judge will find them responsible for the damages to HSBC.

  • http://www.facebook.com/people/BocaTanning-West-East/1528062196 BocaTanning West East

    Why HSBC Panama helped Salvatore Frieri Gallo criminal wanted by police.

  • http://profiles.google.com/mjacosta2049 Jimmy Acosta

    November 21st
    2012

    Mr. Guillermo
    Savignano

    Chief
    Executive Officer

    HSBC Bank
    (Panama) S.A.

    Main Office

    HSBC Plaza,
    47 East Street, Aquilino de la Guardia,

    Panama,
    Republic of Panama

    RE: Emerging Capital
    Group S.A. (ECG)

    Violation on
    Client Confidentiality

    Dear Mr.
    Savignano,

    I am reaching out to you in regards to a serious violation
    that occurred in your bank. I have been
    asking HSBC Panama office to tell me who at the bank gave my company bank
    information to Salvatore Vincent Frieri Gallo a convicted criminal wanted by
    the Colombian police and the Interpol. I
    had informed HSBC compliance mangers in Panama for the last four years. However, your legal department keeps
    procrastinating meetings and seems to be wanting to avoid helping me. I have been told to refer the case to the
    press and the United States embassy in Panama and United States Congress but I
    am hoping to get this matter resolved with your referral.

    Today we have a case against Frieri for fraud against ECG
    broker dealer as Frieri was trying to use our firm to commit fraud and money
    laundry. Frieri had HSBC move millions
    to Venezuela in small amounts. When I
    became aware of his intentions, I terminated the relationship with him and
    continued building my broker dealer business.
    In 2008 HSBC closed all the bank accounts ECG causing the Broker Dealer
    to go out of business, but HSBC kept the accounts for Salvatore and Arturo Frieri
    Gallo opened. These brothers have many
    accounts open under different names so no one can see who the end client is. We are waiting for the Panamanian court and
    judge to give the date when we can look at HSBC records. HSBC has been fighting the DA and the judge
    not to allow anyone to check computer records to find out who printed all of
    ECG account information to provide it to this criminal. HSBC REFUSES TO DO A THOROUGH INVESTIGATION
    BECAUSE OF THE POSSIBLE DAMAGE THIS WOULD REPRESENT TO THE BANK. NOW THE BROTHERS HAVE TOLD MY LAWYERS I SHOULD
    BE CAREFUL ABOUT MY LIFE. I’M WORRIED
    BECAUSE OF THEIR CARTEL CONTACTS (FARC) THEY CAN HURT ME OR MY FAMILY AND
    FRIENDS.”

    Generation Alfa Owner Mirko Visko is Salvatore Frieri
    Gallo’s financial advisor and helped him move millions into Venezuela’s illegal
    sovereign debt transactions through an exchange house convicted of money
    laundry as well.

    In 2007 HSBC in Panama was told that Salvatore Frieri Gallo
    was doing illegal bond trading and money laundering in Venezuela and that HSBC
    in Switzerland had given Frieri ECG bank statement. Frieri had sent millions into Venezuela using
    HSBC sending the money in to 3rd party names and using HSBC banks in Venezuela.
    I have evidence of the wires showing $50 million sent from HSBC Switzerland to
    HSBC Venezuela using 3rd party names. Mirko Visco from Generation Alfa S.A is his
    broker made all these 3rd party wires for Frieri using his close contacts at
    HSBC. HSBC in retaliation against ECG closed the company bank account which put
    the Panama Broker Dealer out of business. HSBC action cost me a lot of money plus you
    hurt my reputation in Panama.

    In 2009 Miami civil case Frieri against Neves,
    Frieri illegally produce ECG bank new account papers and bank statements which he
    obtained illegally. Today I’m in fear of
    HSBC and Frieri who is a wanted by the Colombia police for money laundering and
    fraud. HSBC has told my lawyers that
    they will pursue legal action against me because I keep posting this
    information on the web for help. But we
    gave all this information to the Panama banking regulators, the Switzerland
    regulators and today we don’t know if anything has been done. Salvatore Frieri Gallo has moved all his money
    into his brother’s names and other people names Arturo Rafael Frieri Gallo so
    that his illegal gains wouldn’t be taxed or frozen for his crimes with HSBC
    help.

    I hope you will want to address this matter with my lawyer
    in Panama who has the entire backup to the evidence I have references and we
    can settle this matter soon. I would appreciate
    if you contact my lawyer this week so we can put this matter to rest.

    Luis Borrell

    lborrell@castroberguido.com.

    I greatly appreciate your help.

    http://blogs.reuters.com/financial-regulatory-forum/2012/11/13/u-s-broker-dealers-scrutinized-for-anti-laundering-compliance-in-venezuelan-currency-swaps/
    We hope that the courts in Panama know to follow the rules of the law. and don’t allow money from keeping them from doing the right thing.

  • http://profiles.google.com/mjacosta2049 Jimmy Acosta

    No creo que HSBC no sabía lo que estaba sucediendo. Nada sucede en HSBC no quieren. en 2007 HSBC Suiza envió para Markwood inversiones Salvatore Vincent Frieri Gallo más de 100 millones dólares a Panamá y Venezuela HSBC este dinero fue enviado a casa de exch dinero negro para convertir en dinero de Venezuela todas las cuentas del partido 3. Sabían que esto era ilegal. Sr. Guillermo Savignano Director Ejecutivo HSBC Bank (Panamá) S.A. principal oficina HSBC Plaza, 47 East Street, Aquilino de la Guardia, Panamá, República de Panamá RE: violación emergentes Capital Group S.A. (ECG) en cliente confidencialidad Estimado Sr. Savignano, yo estoy llegando a usted con respecto a una violación grave ocurrida en su banco. He estado preguntando Oficina de HSBC Panamá para decirme que el Banco dio mi empresa información bancaria a Salvatore Vincent Frieri Gallo un convicto criminal buscado por la policía colombiana y la Interpol. Me había informado pesebres de cumplimiento de HSBC en Panamá durante los últimos cuatro años. Sin embargo, su departamento jurídico mantiene reuniones procrastinar y parece estar queriendo evitar ayudarme. Me han dicho a remitir el caso a la prensa y la Embajada de Estados Unidos en Panamá y el Congreso de Estados Unidos, pero estoy esperando conseguir este asunto resuelto con su referencia. Hoy tenemos un caso contra Frieri por fraude contra broker dealer de ECG como Frieri intentaba usar nuestra firma para cometer fraude y dinero lavado. Frieri tenía HSBC mover millones de dólares a Venezuela en pequeñas cantidades. Cuando me di cuenta de sus intenciones, he terminado la relación con él y continuó construyendo mi negocio de distribuidor de corredor. En 2008 HSBC cerró todas las cuentas de banco ECG causando el Broker Dealer salir del negocio, pero HSBC mantiene las cuentas para Salvatore y Arturo Frieri Gallo abierto. Estos hermanos tienen muchas cuentas abiertas bajo diversos nombres para que nadie pueda ver que el cliente final es. Nos están esperando la corte panameña y juzgar que dieras la fecha cuando veamos los registros HSBC. HSBC ha estado luchando contra el DA y el juez no permita que nadie se compruebe los registros informáticos para averiguar que imprimir toda información de cuenta de ECG para proporcionarla a este criminal. HSBC SE NIEGA A HACER UNA INVESTIGACIÓN EXHAUSTIVA POR EL POSIBLE DAÑO ESTO REPRESENTARÍA AL BANCO. AHORA LOS HERMANOS HAN DICHO A MIS ABOGADOS DEBERÍA SER CUIDADOSO ACERCA DE MI VIDA. ME PREOCUPA DEBIDO A SUS CONTACTOS DE CARTEL (FARC) QUE PUEDEN LASTIMAR A MÍ O A MI FAMILIA Y AMIGOS.” Generación Alfa propietario Mirko Visko es asesor financiero de Salvatore Frieri Gallo y le ayudó a mover millones de dólares en transacciones ilegales de deuda soberana de Venezuela a través de una casa de cambio, condenada por lavado de dinero también. En 2007 HSBC en Panamá dijeron que Salvatore Frieri Gallo estaba haciendo operaciones con bonos ilegal y blanqueo de capitales en Venezuela y HSBC en Suiza había dado Frieri ECG bancaria. Frieri envió millones de dólares en Venezuela con HSBC enviar el dinero en 3 nombres del partido y con los bancos HSBC en Venezuela. Yo tengo pruebas de los cables con $50 millones enviados desde Suiza de HSBC a HSBC Venezuela usando nombres de tercer partido. Mirko Visco de generación Alfa S.A es su broker prever todos estos cables partido 3er Frieri utilizando sus contactos íntimos en HSBC. HSBC en represalia contra ECG cerró la cuenta de banco de la empresa que puso el Broker Dealer de Panamá fuera del negocio. Acción de HSBC me costó un montón de dinero más te duele mi reputación en Panamá. En 2009 Miami civil caso Frieri contra Neves, Frieri ilegalmente producir papeles nuevos de cuenta de banco de ECG y Estados de cuentas que obtuvo ilegalmente. Hoy me siento temor de HSBC y Frieri que es un buscado por la policía de Colombia para el lavado de dinero y fraude. HSBC ha dicho a mis abogados que perseguirá judicialmente contra mí porque yo sigo publicando esta información en la web para ayuda. Pero nos dio toda esta información a los reguladores bancarios de Panamá, los reguladores de Suiza y hoy que no sabemos si se ha hecho nada. Salvatore Frieri Gallo ha trasladado todo su dinero a nombre de su hermano y otros nombres de personas Arturo Rafael Frieri Gallo para que sus ganancias ilegales no ser gravados o congelados por sus crímenes con la ayuda HSBC. Espero que usted tendrá que abordar este tema con mi abogado en Panamá, que tiene la copia de seguridad toda la evidencia que tengo referencias y podemos resolver este asunto pronto. Te lo agradeceria si contactas a mi abogado esta semana por lo que podemos poner este asunto para descansar. Lborrell@castroberguido.com Luis Borrell. Agradezco enormemente su ayuda. http://blogs.Reuters.com/Financial-Regulatory-Forum/2012/11/13/u-s-Broker-Dealers-Scrutinized-for-anti-Laundering-Compliance-in-Venezuelan-Currency-swaps

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