Customers of BOI Bank are reporting that they have been unable to retrieve funds from their accounts and that the situation is dire. Some customers allege that they have had problems withdrawing money for the last eighteen months. The bank asserts that it cannot secure the necessary intermediary bank and correspondent bank, to transfer funds to clients, but we are unable to determine whether there is a factual basis for this statement.
BOI Bank Corporation, trading as BOI Bank, is an Antiguan bank, reportedly managed and operated completely from Caracas. Its record owner is Venezuela's BOD Financial Group, which also owns Banco Occidental de Descuento. Victor Vargas is the president and chairman.
Chronicles of Monte Friesner - Financial Crime Analyst
Contributed by Kenneth Rijock - Financial Crime Consultant