Rietumu - for all victims of fraudulent account closure and theft of funds

JohnD

Active Member
I've contacted several lawyers today, 2 of them answered and mentioned, they have clients with the same issues - without mentioning any additional details.
I'm not saying, we have to contact any of the lawyers which answered, if you have better proposal, I'm open for it.

Unfortunately the ''conversation" feature implemented in this forum is available only to promoted members, so we can not use it. This is, why I've asked admin for a permission to list my email here. Please contact me on [email protected], I hope we can somehow join our forces and get the money back.
 

rogerG

New Member
Hey guys. in the same boat as all of you, and received the same blanket statement that I need to sign.
As for the fee changes, you can easily compare November's statement with today's:
November: Rietumu Banka - Maintenance
Today: Rietumu Banka - Account opening
Half of the document has been completely revised, including the 10%/5K euro, 200 euro per hour due diligence and of course the 1K monthly maintenance fee.
 

rogerG

New Member
Has anyone tried to contact their account manager at Rietumu to get clarifications on exactly what fees they are planning on charging? If they'd be willing to disclose what the actual charge would be rather than asking me to write them a blank check I'd be willing to consider it.
 

JohnD

Active Member
Roger, yes, I'm aware of web archive, unfortunately the last snapshot is from november (I've searched all languages). It would be great to have fee structure from march, as a easy proof, that the charges for account maintenance and due diligence were not listed at that time and should not have been deducted.

I personally did not contact the manager, I think I get a better deal, when my lawyer contacts them
 

Mary Anny

New Member
I contacted my account manager at Rietumu several times but she just kept repeating whats is in the messages. Only this last time she told me that in order to tranfer the money in my business account I must open a deposit account in my name and put 20% of what is held in the business account for no less that 2 years. Absourd! Of course I do not want to di that.
I instructed where to send the money (same company in another bank in EU), but they have refused to execute the transfer
 

JohnD

Active Member
Only this last time she told me that in order to tranfer the money in my business account I must open a deposit account in my name and put 20% of what is held in the business account for no less that 2 years.
This is very interesting. Did she say what amount they left for you to transfer and what will be deducted as due diligence fees ?

Well, for me this is a good news, as it means, they are willing to negotiate.
 

rogerG

New Member
I contacted my account manager at Rietumu several times but she just kept repeating whats is in the messages. Only this last time she told me that in order to tranfer the money in my business account I must open a deposit account in my name and put 20% of what is held in the business account for no less that 2 years. Absourd! Of course I do not want to di that.
I instructed where to send the money (same company in another bank in EU), but they have refused to execute the transfer
Hi Mary Anny.
This is indeed intereting. However, did you get the exact same message as we did? Meaning, did they also ask you to sign the "APPLICATION ON THE COMPLETION OF THE PROCEDURE OF THE ENHANCED DUE DILIGENCE " ?
 

kst2001

New Member
Hi guys and gals,

I took the shoot and signed that scary agreement and here's the update so you know what to expect:
- they charged those 2500 EUR mentioned in the agreement
- and they also charged another 500 EUR for account closure

And TODAY I've got the money OUT from Rietumu bank - BOOM

So in total they charged me 6000 EUR after they suspended the bank account on 19 March

6k it's a lot for me. I had 30k blocked in that account. Maybe not that much for many but it was everything I've got to run my affiliate marketing business which I've started from an initial investment of 2000 EUR and a lot of passion and hard work .

I took the bullet and now moving forwards ... lesson learned!
 

Yann

New Member
let me repeat it again - you can accept the deal, but it will definitely cost you something. In my case it means a total costs of 5100 Eur + what ever they decide to charge. Are you prepared to give up 20% of your hard earned money ?
And if you later on find out, you have been tricked into a bad deal, you can't do nothing, as you have given up your right to claim anything.

I agree with Desmond, that to sign the "offer" is a bad idea. In general, our cases are very similar, so if we take a joint action, get a lawyer to have a look at our cases, we will get a better deal.

We are all here new members, so we can not send a message to someones inbox (it's called a conversation here), but you can post on my wall, so please do so, if you are interested in a joint action.
Hi, if there is a Class action i m very intéressant To joint it
 

Yann

New Member
Hi guys and gals,

I took the shoot and signed that scary agreement and here's the update so you know what to expect:
- they charged those 2500 EUR mentioned in the agreement
- and they also charged another 500 EUR for account closure

And TODAY I've got the money OUT from Rietumu bank - BOOM

So in total they charged me 6000 EUR after they suspended the bank account on 19 March

6k it's a lot for me. I had 30k blocked in that account. Maybe not that much for many but it was everything I've got to run my affiliate marketing business which I've started from an initial investment of 2000 EUR and a lot of passion and hard work .

I took the bullet and now moving forwards ... lesson learned!
Hi est. Do you say that they give you your money back?
 

Yann

New Member
We are looking for all recent victims of Rietumu fraud, specifically where the accounts were:

- suddenly converted from USD to EUR
- frozen for incoming and outgoing transfers
- closed under Clause 15.7 (Prevention of Money Laundering and Terrorist Finance)
- funds seized or frozen without an explanation

Some background:

We are a small international IT consulting firm with clients and employees located in various international locations. We have used an off-shore company for our operation in order to have each employee and shareholder liable for their own taxes in their own jurisdiction - a pretty standard use of offshore companies.

We have had an account with Rietumu since 2013. Running a very clean operation - all wires in and out properly documented and invoiced, no cash operations whatsoever (no cash withdrawals or deposits), maintaining proper books.

On 23 February 2018, we received a notice from a "Jelena Fjodorova", about the termination of legal relations. We were given until 23 April 2018 to transition to another bank.

This notice notwithstanding, we found our account frozen at the end of March, with another letter from "Rietumu Banka" (anonymous) dated 19 March 2018 stating that the Bank is terminating our relationship effective immediately under Clause 15.7 (the Law on the Prevention of Money Laundering and Terrorist Financing.)

The remaining funds (just under 5,000 EUR) were stolen under the guise of a Clause 15.7 "maintenance fee" (which just happens to be 5,000 EUR).

We would like to file a class action lawsuit against Rietumu to recover the stolen funds.

If you were a victim of their fraud, please send me a private message. They think they can break the law with impunity because their victims are offshore companies. Well, not this company. We have not broken any laws or evaded any taxes and we will not stand for it.
I m in.
 

Yann

New Member
To the author - yes, they definitely must be sued for exuberant fees and breaking of their own T&Cs.
What they are doing is not just cleaning - but helping themselves for as much money they can get in the process, covering it under various fees - but they all must be _reasonable_ and justified.

We are currently prepearing complaint with Latvian Ombudsman:

Ombudsman - ALCB

This should help with initial dispute.

If it doesn't make them refund frivolous fees, we plan to go to European Courts.
Let us know the issue of your complaît. Thanks
 

Yann

New Member
Yes Yann. I had 32k blocked in Rietumu. I paid like 6k in fees and I got the remaining 26k transferred to another bank account of my company
Ah...... of course 6K of 30k is absolutely expensiv fees. Do you contact john. Maybe it will be some class action about these fees
 

Jo B

New Member
I received documents from this bank on my home address few months ago, but I never heard about Rietumu bank. I called them but they would not answer. After a long research and contacting them via a lawyer I found out that a shell company was set up under my name, plus bank account. They said they have a copy of my ID card. But I never was in contact with them. Looks like an IDENTITY THEFT. I started further steps to close everything but no further news from them.
I found this forum now via google and I read about closing the accounts and owners signing a deal to unlock their funds. I just wonder if "my" company still exists and if the identity thief signed the deal under my name. Tried to call the bank several times today but cannot get connected to someone who can help me.
 

kst2001

New Member
Ah...... of course 6K of 30k is absolutely expensiv fees. Do you contact john. Maybe it will be some class action about these fees
I signed that agreement to be able to get the money out. And in that agreement it was saying that I will give up to any right to claim anything so I don't think it's relevant to join your action against Rietumu

I'd rather focus on putting the energy in my business and make the money back instead of chasing these f**kers
 

ddavid

New Member
let me repeat it again - you can accept the deal, but it will definitely cost you something. In my case it means a total costs of 5100 Eur + what ever they decide to charge. Are you prepared to give up 20% of your hard earned money ?
And if you later on find out, you have been tricked into a bad deal, you can't do nothing, as you have given up your right to claim anything.

I agree with Desmond, that to sign the "offer" is a bad idea. In general, our cases are very similar, so if we take a joint action, get a lawyer to have a look at our cases, we will get a better deal.

We are all here new members, so we can not send a message to someones inbox (it's called a conversation here), but you can post on my wall, so please do so, if you are interested in a joint action.
count me in please
 
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