And there's also a release from the Atlantic Bank which has been under heavy attack in the past few days. First in a scathing, accusatory letter from Senior Counsel Godfrey Smith to the Central Bank Governor - and then in that ad campaign.
Both events are unprecedented - and symptomatic of the escalation in what can only be called a dirty war for ownership and control of Stake Bank.
And tonight, the bank is fighting back to secure its reputation with a press release headlined, "Mike Feinstein Sued For Fraud". It notes that the bank has filed a lawsuit in the High Court personally suing Feinstein for fraud and breach of trust.
It adds, quote, "The Bank is aware of...a letter written by attorneys for Michael Feinstein to the Central Bank of Belize…in which certain allegations were made in relation to the Bank's financing of the…Project for Stake Bank Enterprise Limited. The Bank categorically denies those allegations and is evaluating a claim for libel with its attorneys based on the defamatory statements in the letter," end quote.
The release also refers to the ad which started airing last night on this and other channels. It says, "The Bank is aware…of an ongoing advertising campaign with the sole purpose of eroding public confidence in the Bank and the financial system in general. In this regard, the Bank says that its fundamentals are strong. Underpinning the Bank's stability and strength is its Paid-Up Capital, which is the largest within the banking system. The Bank remains the second largest financial institution in Belize, with the largest lending portfolio, funded by the second largest deposit base. Additionally, the Bank is buttressed by a $21 billion US (dollar) financial group with over 50 years of service in Belize and more than 110 years of service in the region." End quote.
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