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  #41  
Old 02.08.2014, 20:02
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Re: Please help : My father's funds are blocked, how to solve it?

Hi, northdub:

Thanks for your comment. It is really helpful for me.
Please check my response as following.

(1) How does UBS know the correct transfer history of my fatherís
funds? Why UBS can be so rude to treat my fatherís account like that?

- No they do not that is why your dad's funds are blocked. UBS are not rude but following procedure. They also have tousands of customers a day that transfer millions and as your dad is not a customer of UBS and has no history with them they probably feel they do not have to bend down in front of you for 2m dollars/frs

=> Yes, understood.

(2) Is it legal for any Swiss bank to easily block clientís funds without negotiation and notification? Especially for a foreign client?

Yes

(3) My fatherís fund has been blocked for almost 7 months. Itís really ridiculous. How long does it usually take to resolve such situation?

depends how quickly the owner of the funds can prove they are clean and how fast you can get all the document requirements in order.

=> We have provided sufficient documents in details about all transfers as best as we can, I'm afraid that the Prosecutor always makes our case pending because of lower priority.

BTW, what is a usual time-limit for a Prosecutor to finish a new case? It should be a due date, right?

(4) Is it anyway to return our funds back? What is the worst case that we canít get our funds back?

the funds are frozen, worst case they are confiscated if proven to be in relation to criminal activities

=> I see. I'm sure that my father's funds are clean and all transfers are ok.

(5) My father never received any official mail or letter from any institution during this period, we got all information from the asset management company. We tried to communicate directly to the private bank or UBS for checking further status, but no one answer. Is it right?

what is the name of this private bank/institution - are you sure they are even based in switzerland? sounds odd

=> the private bank is Sigla Asset Management Trust S.ŗ.r.l. It is located in Geneve. In fact, I don't know what is its reputation in Switzerland.

Our advisor explained that there is no bankers can answer our questions during investigation period until the Prosecutor has a positive resolution. I donít know is it true, either.

(6) Did we meet with a fraud(I mean the asset management company)? How will I know this is not a fraud and how to detect my fatherís funds are still existing?

No idea - to be honest it is possible as your story is dodgy

=> My story is really dodgy I know, but it is true. I will disclose more details when I have a chance.

(7) Is it possible to ask Taiwan Ambassador or other sources for help? How can we speedup this process?

By getting the documents and proving the funds are ledgit is the only way in my opinion. If you call in your cavalry such as a taiwanese embassador you will first of all only be harming yourself by proving you want to use big people in big places to pressure a bank - that looks dodgy no offence.

=> understood

(8) If my father finally is approved that he is clean, may we ask compensation? If yes, who should take responsibility for this?

You need to get a serious lawyer (swiss financial lawyer). If your dad is legit and so are the funds, you will spare a few hundred tousand to pay a good lawyer to get you out of the sh*t

=> Sorry, I don't understand.
I think my father is a victim because he didnít commit any crime in money laundering, the only wrong thing is he transferred his funds to a Swiss bank account. Why should he pay so much extra fee to a lawyer who take him out of this dispute?
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  #42  
Old 07.08.2014, 12:11
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Re: Please help : My father's funds are blocked, how to solve it?

What I do not quite get here is, who on earth transfers USD 2'000'000 (which is a substantial amount of cash for most people I'd say) without having the facts in place AND having visited the actual office/bank/asset manager in person who's going to take care of/looking after the funds?

A return plan ticket from TSA to GVA/ZRH can surely not cost a fortune when we talk about these large amounts to be transferred (not saying to bring the funds in cash)?

Also, with the huge amount in question, I would probably NOT post my query on a forum (and especially this one) but rather get some professional help there and then by someone who actually knows what (s)he is talking about...

Based on this it leads me to believe this is all bogus
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  #43  
Old 07.08.2014, 12:12
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Re: Please help : My father's funds are blocked, how to solve it?

Frank.. see my post above
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  #44  
Old 07.08.2014, 12:34
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Re: Please help : My father's funds are blocked, how to solve it?

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What I do not quite get here is, who on earth transfers USD 2'000'000 (which is a substantial amount of cash for most people I'd say) without having the facts in place AND having visited the actual office/bank/asset manager
Having the facts in place is an obvious necessity but I don't see what an in-person visit would accomplish. Most people conduct financial transactions by phone/internet. I don't think I've visited a bank branch in 10 years.
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  #45  
Old 07.08.2014, 13:45
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Re: Please help : My father's funds are blocked, how to solve it?

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Having the facts in place is an obvious necessity but I don't see what an in-person visit would accomplish. Most people conduct financial transactions by phone/internet. I don't think I've visited a bank branch in 10 years.
Two things:

1) You would establish a relationship with any financial institute before transferring large amounts knowing exactly what you are getting yourself into and who you are dealing with. Should I transfer (or rather give) USD 2 million to someone I have never seen/met/heard off before, I'm asking for it, and would like to see who is going to look after my money (no matter what scale it may be). In my current job, I transfer around EUR 8+ million each month to different banks around Europe and APAC and setting up new deals with new banks and asset management firms is not taken lightly. It's an extreme long process and I think it goes with saying why...

2) You have not visited a bank in 10 years and that's because you most likely have built up a relationship with the bank you're dealing with.Most likely you could wire them the USD 2 million without giving it a through, but here we're talking about someone in Taiwan sending a large amount without really knowing what he was doing other than being told that Switzerland is a good place to send your money

I still find this very peculiar in deed...
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  #46  
Old 07.08.2014, 13:59
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Re: Please help : My father's funds are blocked, how to solve it?

Commercial registry entry 1
Commercial registry entry 2, Company website
LinkedIn
Vimeo
c/o address for 1 and 2: Commercial registry entry 3, Google results for name (example1, example2 !!!)
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  #47  
Old 07.08.2014, 14:00
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Re: Please help : My father's funds are blocked, how to solve it?

For my foreign exchange account, I had to provide all sorts of information (and translations) about my company and myself before I could start moving money around.
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  #48  
Old 11.08.2014, 12:21
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Re: Please help : My father's funds are blocked, how to solve it?

Hi, Reb77Br:
Thanks for your information.
May I know what exact you want to tell me? Sorry, I don't understand.
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  #49  
Old 11.08.2014, 12:41
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Re: Please help : My father's funds are blocked, how to solve it?

So toy town SARL rather than SA/AG
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  #50  
Old 14.08.2014, 01:33
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Re: Please help : My father's funds are blocked, how to solve it?

Quote:
I think my father is a victim because he didnít commit any crime in money laundering, the only wrong thing is he transferred his funds to a Swiss bank account. Why should he pay so much extra fee to a lawyer who take him out of this dispute?

Seriously? you're down 2M and not willing to spend a few 1,000 to facilitate the recovery of your 2M? Penny wise pound foolish?

Anyways, as many people on this site already have suggested: please lawyer up, provide any evidence that your money is clean.

Finally, if your case is under investigation by UBS or Finma there should be a case number. Ask your Asset Manager for this info. Then contact Finma directly to see if such case actually exists. If Finma is unaware of the existence of this case, you will know that you have been scammed.

Last edited by 3Wishes; 14.08.2014 at 11:18. Reason: fixed quoting
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  #51  
Old 03.09.2015, 10:35
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Please help, about our lawsuit with prosecutor in Gevena

Hi there:
My father got a legal problem in Switzerland last year. His funds was blocked for further investigation by Geneva Prosecutor because of money laundering matter, the prosecutor suspected the origin of funds are illegal.

We hired an attorney immediately to help us. We offered any kind of documents which can prove these funds are clean, and it was one-half year ago.
The prosecutor held first hearing last Oct., but there is no other progress since then.
We thought it is too long to have no progress. We ask our attorney to check current update, but he always responses:
(1) The prosecutor is always busy and overloading, not available.
(2) The process is usually tediously long, no exact schedule or time table from the prosecutor, be patient.
(3) There is no way to push the prosecutor. All we can to do is wait, it is not possible to make it faster.

I donít know above facts are true or not, so I want to ask some questions here:
(1) I know the name of the prosecutor who is in charge of our case, may I directly to consult her?
(2) I also know the case number, may I directly to check current status bypass our attorney? He is too slow.
(3) May I complain or appeal to other government institution for the sake of no progress and no explanation for such long time?

Thanks for your great help in advance.
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  #52  
Old 03.09.2015, 10:43
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Re: Please help, about our lawsuit with prosecutor in Gevena

If you have lost confidence in your attorney, get a different one. The Swiss Bar Association's website might help you to find a new one:

http://www.sav-fsa.ch/en/home.html
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  #53  
Old 03.09.2015, 10:54
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Re: Please help, about our lawsuit with prosecutor in Gevena

Wait. These things take time.

Tom
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  #54  
Old 03.09.2015, 11:17
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Re: Please help, about our lawsuit with prosecutor in Gevena

About (1) and (2) yes you could try. But how will you do it? By phone call? How to you prove identity and power of attorney to request this information in the name of your father.

About (3) it takes time. One guy is now for three years in jail because of suspected money laundering activity. No conviction yet as investigation is still in progress. (Sorry German) http://www.tagesanzeiger.ch/wirtscha...story/27638289
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  #55  
Old 03.09.2015, 13:53
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Re: Please help, about our lawsuit with prosecutor in Gevena

Obviously someone here in Switzerland (UBS, whoever) hasn't believed the proof you provided.

Please help : My father's funds are blocked, how to solve it?

So it's now under criminal investigation. Expect to wait years while it's all sorted out I'm afraid.
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  #56  
Old 03.09.2015, 18:41
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Re: Please help, about our lawsuit with prosecutor in Gevena

It looks like there is a UBS branch in Taiwan. Wouldn't that be the point of contact to discuss why the account was blocked in the first place or at least act as intermediary?
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  #57  
Old 12.12.2016, 13:45
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Please help about my father's frozen funds

Hi there:
I posted one question about my family situation two years ago(June, 2014), My father's funds are blocked, how to solve it? If you are interested, please refer to http://www.englishforum.ch/other-general/214324-please-help-my-father-s-funds-blocked-how-solve.html .
After two and a half years of waiting, we finally got a summon this Aug. Yes, we finally meet the prosecutor in Geneva.
My father showed everything to the prosecutor that he indeed owns all funds and explained the origins of his funds are totally legitimate. The prosecutor didnít ask other questions at that time and didnít reveal any schedule about releasing our funds either.

Here comes my questions:
(1) The prosecutor said we could inquiry the progress to her office by fax and it is no necessary to hire a lawyer unless my father gets an accusation. We followed to her rule and faxed two times about our status but no response. Is it ok to directly call the prosecutorís office to ask the latest update? Or we just wait?
(2) We spent our time and money to fly to Geneva from Taiwan. According to Taiwanís practice, we can get a subsidy. Is it possible to claim the travel expense for summon in Switzerland?
(3) What will be the next procedure in case there is no problem about my fatherís fund? Do we need to come to Geneva again to do more proceedings to make our funds released? Or the bank will directly return my fatherís funds to my fatherís account as soon as they get the command from the prosecutor?
(4) My father's diabetes is getting worse, need to pay the huge medical expense in the future, so we really need our funds to get back soon. Is there any way to ask the Prosecutor to speed up?

We are totally helpless and frustrated. We are only foreigners, we can't speak French and get familiar with Swiss law or regulation. Please offer your comment and help us, that will be very grateful.
Thanks.
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