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Lloid

New member
maybe you can let us know what the latest status is for Sterling Payment and their services. Must people come here only to complain about this and X processor but never come back here to tell us what they figure out, are things working again, went they just silence or what happened?
I don't think we'll hear from him again. I'll soon be able to make notches like in the movies every day for no refund. It's day 63.
 

uplana

Corporate Services
Mentor Group Gold
I don't think we'll hear from him again. I'll soon be able to make notches like in the movies every day for no refund. It's day 63.
thank you,will still cross my fingers for all of you.
 

Mikhal Pol

New member
Sterling Bank are crooks. Since 3 years they have the same way to steal from their clients. They saying its there correspondant bank issues but Its their way to do it. I spoke with few of their clients that have the same problems. They cannot get their money out for months. It is a scam. Hong kong police departement said that they have a lot of complains already and that their license will be suspended.
Anybody that has the same issues , i will be happy to hear your side of the story.
 

Mk218

New member
Sterling Bank are crooks. Since 3 years they have the same way to steal from their clients. They saying its there correspondant bank issues but Its their way to do it. I spoke with few of their clients that have the same problems. They cannot get their money out for months. It is a scam. Hong kong police departement said that they have a lot of complains already and that their license will be suspended.
Anybody that has the same issues , i will be happy to hear your side of the story.
Dear Mikhal,

Thank you for your information. I wonder what will happen to everyone's funds if Sterling is suspended? I have alot of money with them and very concerned. Unfortunately I don't think there is anything that can be done. Please let me know if you get any more information.
 

Mikhal Pol

New member
Dear Mikhal,

Thank you for your information. I wonder what will happen to everyone's funds if Sterling is suspended? I have alot of money with them and very concerned. Unfortunately I don't think there is anything that can be done. Please let me know if you get any more information.

Dear Mikhal,

Thank you for your information. I wonder what will happen to everyone's funds if Sterling is suspended? I have alot of money with them and very concerned. Unfortunately I don't think there is anything that can be done. Please let me know if you get any more information.
Dear Mikhal,

Thank you for your information. I wonder what will happen to everyone's funds if Sterling is suspended? I have alot of money with them and very concerned. Unfortunately I don't think there is anything that can be done. Please let me know if you get any more information.
Dear MK218
You can contact me by PM as we will be able to talk about the evolution with Sterling
 
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lostguy

Mentor Group Gold

Mk218

New member
What I have been told is that a bank they invester in is having problems. I am currently praying I get my money back. If sterling bank is reading this now I will gladly sing their praise if they can give me my money. My startup really suffered because of them.
 

erni

Mentor Group Gold
I don't think you will get your money back. Honestly, it has taken to long to sort this out to left any hope.
 

FinTech Avenger

FinTech Guru
Well, consider them to be on a bank run.

Sterling group is leaded by a Russian passport holder with known ties to criminality & corruption...

I may later decide to share some information about some of those who run this para-banking-para-ponzi :)
 

Kim illarion

New member
Does anyone know smth about any legal issues against Sterling group or it's owners? I make some research that may help victims in future
 

SterlingHKSupport

New member
Hello!

First of all, we would like to express our apologies for the inconveniences caused by the delay with processing payments – we are working to resolve this issue as soon as possible.

As part of our commitment to transparency, we would like to explain what has caused the issue as well as update you on the current situation.

When our relationship with our former correspondent bank (Mugan Bank) has reached its critical level, the Company decided to partner with Lucayas Bank (PIB).

Unfortunately, Lucayas Bank went into Statutory Administration on the 27th of October, 2021 without any prior announcements to the public or its clients (please see the press release attached). As a result, the Company did not have a chance to prepare for such situation and mitigate the risks.

All funds of Lucayas Bank clients, including Sterling’s, have been frozen. The bank assigned to purchase all assets of Lucayas Bank is Brittania Bank (Britannia Financial Group). This is a procedure that takes months to complete, making the process of recovering funds quite lingering, despite our best efforts.

In the meantime, the Company decided to work on an alternative solution and, after complex and lengthy negotiations, established relationships with a new correspondent bank on the 11 of April, 2022 and is working on partnering with another bank to further expand our network of correspondent banks.

Account opening for an MSO (Money Service Operator) takes more time, efforts, and background checks than for a conservative financial institution – however we assure you we are doing our best get this finalised as soon as possible.

We honour the agreements reached with our clients and act accordingly. Any delays have happened were for subjective reasons, often beyond our control.

We understand that some of the clients are frustrated with the aforementioned delay and are considering to call for Sterling’s MSO license deprival. Should this happen, a public structure will take over and will manage the situation with Lucayas Bank/Brittania Bank themselves – a process that may take years.

We assure you our team of professionals is working on this on daily basis. Our Customer Support service is in touch with all clients directly. We are only asking you to give us enough time to resolve the situation and process the outstanding payments as per our agreements with clients.

Should you have any further question, we encourage you to get in touch with us by email - [email protected]

Yours respectfully,
Sterling
 

Attachments

  • Lucayas Bank Limited_Customer Update_2May22.pdf
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