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Betteto Frett takes protest against 1FirstBank to the streets!

- Local businessman has accused the bank of predatory lending & dishonesty
Local businessman Betteto Frett, in taking his protest to the streets against 1FirstBank, has stated he is preparing to head to the court once again to challenge the selling of his restaurant and entertainment centre, which he alleges the bank has no right to sell. Photo: VINO
1FirstBank is being accused of predatory lending in the Virgin Islands. Photo: VINO/File
1FirstBank is being accused of predatory lending in the Virgin Islands. Photo: VINO/File
Mr Betteto Frett continued his protest against 1FirstBank today, September 12, 2023, in the parking lot across from 1FirstBank in Road Town. Photo: VINO
Mr Betteto Frett continued his protest against 1FirstBank today, September 12, 2023, in the parking lot across from 1FirstBank in Road Town. Photo: VINO
ROAD TOWN, Tortola, VI- Local businessman Betteto Frett, in taking his protest against 1FirstBank to the streets, has stated he is preparing to head to the court once again to challenge the selling of his restaurant and entertainment centre, which he alleges the bank should have no right to sell.

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.

23 Responses to “Betteto Frett takes protest against 1FirstBank to the streets!”

  • lol (13/09/2023, 15:32) Like (26) Dislike (12) Reply
    you cant fix stupid! what about the depolorable confitions he had people living in, is this karma?
  • Rubber Duck (13/09/2023, 15:43) Like (17) Dislike (10) Reply
    What a shame this is happening to such a nice, well loved businessman. I amsure many of the people who have dealt with Mr Frett over the years will be rushing to help him out.
  • Greg (13/09/2023, 16:28) Like (20) Dislike (2) Reply
    GOOD LUCK Mr. Frett! These banks are only in it to make big profits, since that is how they stay rich by taking advantage of the people. I hope you win your case and recover what is rightfully yours. Let this be a lesson to everyone before they sign on the dotted line. The banks will make you homeless if you are not fully aware of how they write up their agreement papers. Most people do not understand bank lingo and they explain it to you how they want you to interpret it. Banks do not lend from the goodness of their hearts, they lend from their unscrupulous souls. How else will they stay rich?
  • Youth (13/09/2023, 17:05) Like (19) Dislike (4) Reply
    Keep fighting my brother. More of us are with you than against.
  • Asking For Myself (13/09/2023, 17:17) Like (12) Dislike (3) Reply
    Where is Lorna she is responsible for banking
  • chump (13/09/2023, 17:20) Like (11) Dislike (12) Reply
    Poor Buckteetho Frett. You work so hard Buckteetho only to lose it to those whimsical banks of the BVI. Thats even worse to see them bout to take your ill begotten lands on the Cay. Buckteetho, this is not fair to you. Please hire the best lawyers you can find that will defend you for a $500 retainer and I will pay for it Buckteetho. I will email you directly with my details.
  • Prove your self (13/09/2023, 17:53) Like (13) Dislike (3) Reply
    Lorna we are Depending on you to be in our Corner as you said the Banks and Insurance are killing us Financially.
  • BLAME THE UK (13/09/2023, 18:38) Like (1) Dislike (7) Reply
  • c (13/09/2023, 19:30) Like (8) Dislike (5) Reply
    Maybe Frett spread to thin from greed.
  • DON Q (13/09/2023, 20:14) Like (3) Dislike (0) Reply
    Fight Mr frett we the majority are with you
  • Riches do reverse. (13/09/2023, 22:03) Like (2) Dislike (3) Reply
    When we get stuff fraudulently, unfairly and by bullying and intimidation and walking around high and mighty. Those things don't stay with us. God has away of making wrong right.. So when thing happen badly to us, its time to reflect and seek forgiveness...I can't understand why people don't believe that he sits high, looks low and never sleep or slumber and is the true judge. Judgement day has come brother Frett. You are not alone.
  • Azura (13/09/2023, 22:22) Like (2) Dislike (1) Reply
    He's in his seventies. No bank will loan him any more money because of his lifetime clock that is ticking. If they do lend him money, they know when he dies, they can take the properties and make a huge profit. The monthly mortgage will be too much for him to handle and this situation will repeat itself again. Sorry for him but he doesn't have enough life time to pay them back. If he was in his fifties I would say yes.
  • Some of these banks (13/09/2023, 23:52) Like (2) Dislike (0) Reply
    Bunch of crooks and cons
  • ———————— (13/09/2023, 23:56) Like (0) Dislike (0) Reply
    Let’s hope we will never have a run on some of these banks in the BVI. Would be a down turn at best.
  • Real Talk (14/09/2023, 06:31) Like (4) Dislike (1) Reply
    When noel lloyd was protesting many many call him a fool and all sort of ill names but guess what he paid the price for all those who are benifiting today. Stand strong MrFrett we with you to the banks be warned terror comes at night.
  • 772 (14/09/2023, 08:05) Like (4) Dislike (1) Reply
    He gah money to make sign man. Good luck. Keep gas in your truck Mr.Frett. You gon be alright.
  • El Demonio Negro (14/09/2023, 08:19) Like (2) Dislike (2) Reply

    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.

  • Xxx (14/09/2023, 08:58) Like (2) Dislike (0) Reply
    The tactics looked much better than previous ones he used but in the end with Lorna afraid to act our people will suffer
  • Congratulations (14/09/2023, 09:26) Like (2) Dislike (5) Reply
    for being the BVI's worst businessman with most dilapidated properties in the BVI. The prize is spending the rest of your life in the old folks home.
  • HMMM (14/09/2023, 09:30) Like (5) Dislike (2) Reply
    all of it is his Karma!! he did LOTS of people WRONG and still has unpaid money to past loyal workers. Karma
    • So true (14/09/2023, 12:09) Like (2) Dislike (2) Reply
      This man owe me money from doing a job for him....everytime we ask him for the funds, its something new.....i have wife, kids and just trying my best!!!! i hate to see people suffer, but i swear Karma is real

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