Betteto Frett takes protest against 1FirstBank to the streets!
On Tuesday, September 12, 2023, Mr Frett was spotted driving through the streets of Tortola with a placard attached to his vehicle stating: ‘First Bank is A Predatory lender’.
1FirstBank ‘wants to destroy me'- Betteto Frett
Speaking to JTV News, Mr Frett alleged that 1FirstBank is “secretly” trying to sell some of his properties that it actually has no right to do.
He said has conceded to the court’s order for the bank to foreclose on at least two of his properties but noted there has been an oversight.
“I am challenging them [1FirstBank], first of all not to sell a property that you already testified under oath in the court that you do not own. You could sell the hotel project, that’s the one that the judge was focusing on because the evidence before him stated that they do not have anything to do with the adjacent restaurant and entertainment centre building...”
He accused 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.
Expressing his frustration, Mr Frett alleged, “Everything I did to try to reason with the bank failed because the bank has one interest in destroying me and what they are doing now is trying to sell the building privately so that they could further destroy me.
“Instead of public auction and I want to sell it at public auction because at the end of the day that is where you get to know the true market value of the properties and they don’t want to do that, they want to hurt me in every way possible and I am appealing to those people that deal with First Bank, be careful with First Bank because it can happen to you. Hurricane comes again blow off your roof, they will take your money and instead of restoring your property so that you could continue to service your loans they would not do that,” he said.
‘I was totally up to date with my loan payment’ before Irma- MrFrett
According to Mr Frett, the sad part of this situation is that he was thrust into the dilemma as a result of his properties being extensively damaged by the storms of 2017.
“I was totally up to date with my loan payment at the time of the hurricane. I was paying forty-three thousand dollars a month. I had no problems in delinquency.”
Mr Frett continued that one of the lawyers had told the court otherwise, “But I was able to correct that, showing the same mortgage statement that First Bank presented me, where they say that the loan was current except for the September payment and my tenant, which was the government of the BVI, they were paying thirty-four thousand [dollars] monthly. They indicated that they had paid the August payment and also the September payment… and therefore they held on to the government’s money as well, which wasn’t really due.”
Mr Frett 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.
Today, he protested in the parking lot across from 1FirstBank.
The local businessman said he is losing some 80% of this property, which he describes as a “dark situation”.
1FirstBank has not responded to our request for comment regarding Mr Frett’s scathing allegations.
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23 Responses to “Betteto Frett takes protest against 1FirstBank to the streets!”
Force once just once Mr. Frett MAN DA F*Q UP. You can read and have access to lawyers. You signed on that line time to pay the piper.