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1FirstBank ‘denies the allegations of Betteto Frett’

- said Mr Frett’s allegations against the bank were found to be ‘entirely unfounded’ by the court of law
1FirstBank has denied the allegations of local businessman Betteto Frett, stating that Mr Frett's allegations against the bank were found to be ‘entirely unfounded’ by the court of law. Photo: 1FirstBank/Facebook
Mr Betteto Frett has accused 1FirstBank of predatory lending and of trying to sell some of his properties despite allegedly testifying in court that it does not own the properties. Photo: VINO
Mr Betteto Frett has accused 1FirstBank of predatory lending and of trying to sell some of his properties despite allegedly testifying in court that it does not own the properties. Photo: VINO
Mr Frett has said he intends to protest the bank at every possible level while trying to find ways to block the selling of his restaurant and entertainment centre. Photo: VINO
Mr Frett has said he intends to protest the bank at every possible level while trying to find ways to block the selling of his restaurant and entertainment centre. Photo: VINO
ROAD TOWN, Tortola, VI- Amidst public protests against 1FirstBank by local businessman Betteto Frett, 1FirstBank has finally broken its silence.

Mr Frett has accused 1FirstBank of predatory lending and of trying to sell some of his properties despite allegedly testifying in court that it does not own the properties.

The businessman also alleged that the bank of trying to ruin him and said he wants the public to be aware of what is happening, so they are also not taken advantage of.

1FirstBank had remained silent in the face of the allegations until now.

Mr Frett’s allegations ‘entirely unfounded’ - 1FirstBank

In a statement by Alana Alexander, the Marketing and Communications Manager of 1FirstBank-Eastern Caribbean Region, the bank denied the scathing allegations and said it had not violated any regulatory standards in handling the foreclosure of Mr Frett’s properties for defaulting loan payments.

“FirstBank Puerto Rico operates in accordance with the regulatory standards of the Virgin Islands and its parent jurisdiction in the United States and denies the allegations of Betteto Frett, particularly the defamatory aspersions of fraudulent, unethical and predatory lending.

“Mr Frett’s allegations against the bank were found to be entirely unfounded by the court of law,” 1FirstBank stated in its brief response.

Mr Frett has said he intends to protest the bank at every possible level while trying to find ways to block the selling of his restaurant and entertainment centre.

The local businessman said he is losing some 80% of this property, which he described as a “dark situation”.

See related articles: 

Betteto Frett takes protest against 1FirstBank to the streets!

Betteto Frett accuses 1FirstBank of predatory lending

 

14 Responses to “1FirstBank ‘denies the allegations of Betteto Frett’”

  • Lord (14/09/2023, 09:23) Like (1) Dislike (5) Reply
    SEND HELP!
  • ccc (14/09/2023, 09:27) Like (4) Dislike (1) Reply
    Thing to talk mehson
  • Agree (14/09/2023, 09:30) Like (5) Dislike (1) Reply
    Power of Sale is a formidable clause in any mortgage contract.
  • Carnage (14/09/2023, 10:09) Like (17) Dislike (0) Reply
    Another Dameon here
  • HMMM (14/09/2023, 10:31) Like (17) Dislike (3) Reply
    I mean if he borrowed the money and not pay it back, it really his? Banks not interested selling property, too much hassle and they normally lose money. Sounds like he been late to many times.
  • jack (14/09/2023, 10:47) Like (2) Dislike (12) Reply
    Who is standing up for locals?
  • Sad (14/09/2023, 10:52) Like (14) Dislike (0) Reply
    Because Dameon came out to beg and fool the people he felt the need to beg too? SMH bunch of scams
  • ha (14/09/2023, 11:29) Like (8) Dislike (0) Reply

    He keep ptting the money in the wrong Bank. The ( H**** Bank). Wrong bank brother. Wrong one. That one do not bring any return at all.

  • Hmmm. (14/09/2023, 11:42) Like (16) Dislike (1) Reply
    His Restaurant and entertainment center. Wonder where those are.
    Smartness and badness have away of coming back at us.
    However that bad investment i heard about of a casino Boat that never materialized..
    Why don't he sell one of his many properties and make good with the bank and move on in peace,.
    This unnecessary conflict only going to put all banks against him and avoid doing business with him in the future.Mr. Smart not too wise.!
    • @Hmmm. (14/09/2023, 14:15) Like (7) Dislike (1) Reply
      Mr Frett does not manage his finances well. Whatever real estate he owns, I'm sure it already used as collateral for other loans. I strongly believe Mr Frett no longer has property to put up for collateral and that is why he is now publicly shading FirstBank Virgin Islands.
  • Hmmmm... (14/09/2023, 12:20) Like (4) Dislike (1) Reply
    FirstBank isn't exactly a fountain of friendliness, client support or customer service.
  • he (14/09/2023, 12:48) Like (1) Dislike (0) Reply
    Bank don't give him a dime
  • Unfortunate! (14/09/2023, 14:54) Like (9) Dislike (1) Reply
    All the banks use predatory tactics, including our own National Bank. Example, you apply for a loan of $100K and disclose in all honesty that you own property 1 valued @150K, property 2 valued @100K, property 3 valued @120K. The bank wants to hold all 3 properties as collateral. That is PREDATORY, but somehow I don't believe that Betteto is being totally honest with us regarding his situation.



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