The Feinstein Group has issued a statement indicating that it is formally requesting that the Governor of the Central Bank designate an independent inspector or team of inspectors to conduct an investigation into Atlantic Bank. If you may recall, in the ongoing legal battle over the receivership of Stake Bank Enterprise Limited (SBEL), Feinstein wrote to the Central Bank, making several allegations that the Bank has categorically denied and called slander. The Bank has since sued Feinstein for fraud relating to its mortgage debenture for SBEL’s Port Coral project.
The Feinstein Group says there is a need for impartiality and objectivity in an investigation into the Bank. At this time, we are trying to confirm if, indeed, the regulator has launched an investigation into ABL.