• Report: #974528

Complaint Review: Financial Pacific Inc.

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  • Submitted: Tue, November 27, 2012
  • Updated: Wed, November 28, 2012

  • Reported By: Panama Reporter — Miami United States of America
Financial Pacific Inc.
Avenida Balboa Internet United States of America

Financial Pacific Inc. Casa de Valores, Financial Pacific, Panama, Ivn Clare Arias, Ivan Clare Arias, West Valds, West Valdes, Financial Forex SCAM / FRAUD / MONEY LAUNDERING / PONZI SCHEME Internet

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Rumors of sale in Financial Pacific:


The strange attempt to sale in Financial Pacific, behind a millionaire fraud and serious criminal charges. Due to the decline of "Financial Pacific", and pressured by the speculation about the research carried out by the Superintendence of the market of values (SMV), the public prosecutor's Office, and the auxiliary Prosecutor in Panama, "Financial Pacific", through its senior executives Mr. Ivan Clare Arias and Mr. West Valds, have publicly declared that they are in negotiations to make a sale and create a fusion in its portfolio.

It seems incredible that "Financial Pacific" with a subtraction and loss of funds by nearly $ 12 million, as expressly allege its principal executives (Mr. Ivn Arias Clare and Mr. West Valds) by press release, and a complaint submitted in the Prosecutor's Office in Panama, can manage a feasible and actual "sale" with similar loss on their books. [continued below]....
.....

'Financial Pacific' reported assets (customer investments) in its reports of 2011, by the total amount of 135.24 million dollars, cataloging "Financial Pacific" in fourth place by size of assets in the Panamanian market. A loss of $ 12 million, represents almost 9% of the total of the deposited funds of their clients in the enterprise. "Financial Pacific" only has $ 250,000 in reserve, according to stipulated the securities law in Panama, and not available with enough reserves to cover the loss of the $ 12 million that reported this year.

We ask ourselves: where "Financial Pacific" cover the lost $ 12 million? With a new issue of shares ("Stocks" or "Shares") or bonds ("Bonds") false? Are customers who make up the loss of $ 12 million willing to this loss in your investment accounts? Does perhaps the Government of Panama or the National Bank of Panama will cover the loss of those 12 million dollars that were illegally abducted in "Financial Pacific"? What will happen with all violations in law committed in "Financial Pacific"? Will Mr. Ivan Clare Arias and Mr. West Valds go unpunished by all fraudulent acts in "Financial Pacific"? Perhaps Mr. Ivan Clare Arias and Mr. West Valds are above the law?

'Pacific Financial' problems do not end only in the loss of money in deposits from customers, last Wednesday, November 21, 2012, the SMV submitted a criminal complaint against "Financial Pacific Inc.", and "Financial Pacific", accused by the alleged Commission of offences against public faith (falsification of documents), against economic heritage (scam) and the economic order (money laundering)detected during an internal investigation that was developed
from the month of October.

A real "Financial Pacific" sale, due to the millions of dollars losses and the serious seems incredible to us
criminal charges involving "Financial Pacific". We hope that this sale is not an attempt to hide the real owners through frontmen and triangular company, and subsequently result in new irregularities that cause major economic losses to clients "Financial Pacific".

We ask ourselves: who would be the entity that would buy a business in bankruptcy and with what purpose? Who will answer for the stolen money when customers need to do their retreats?

Typically in the financial stories in other countries, when a House of values ("Broker-Dealer") is found iliquida by its regulator agent, Agent controller takes control of the House of values ("Broker-Dealer") and then apply it in proportion with their available liquid assets. Illiquid assets of customers are passed to another House of values ("Broker-Dealer") with larger size, or it is divided between several core values ("Broker-Dealer") House. Subsequently, the regulator agent continues with civil as well as criminal, judicial processes to try to recover the money lost and prosecute those responsible for.

It would be surprising, that this suspicious "sale" may be approved by the SMV.All these questions and unknowns them will be seeing through actions that take their protagonists.The future, the credibility and transparency of the financial markets in Panama is at stake, and will largely depend on the steps that perform their regulators to maintain the highest ethical standard in all the members of the Panamanian financial system.

To check on the status of the investigation and any other information relating to Financial Pacific, please communicate directly with the regulatory agency:

Superintendence of the Mercado de Valores (SMV)

Physical address: Panama, Panama City,
Ave. B



Rumores de venta en Financial Pacific:



El extrao intento de venta en Financial Pacific, detrs de un millonario

fraude y serias acusaciones criminales








Debido al declive de Financial Pacific, y presionado por las especulaciones sobre la investigacin que realiza la Superintendencia del Mercado de Valores (SMV), el Ministerio Pblico, y la Fiscala Auxiliar en

Panam, Financial Pacific, a travs de sus ejecutivos principales el Sr. Ivn Clare Arias y Sr. West Valds, han declarado pblicamente que estn en negociaciones para concretar una venta y crear una fusin en su portafolio.



Parece increble que Financial Pacific con una sustraccin y prdida de fondos por casi 12 millones de dlares, como alegan sus principales ejecutivos (Sr. Ivn Clare Arias y Sr. West Valds) expresamente mediante comunicado de prensa, y una querella sometida en la Fiscala en Panam, pueda gestionar una venta factible y real con semejante prdida en sus libros.

Financial Pacific report activos (inversiones de cliente) en sus informes del 2011, por la cantidad total de 135.24 millones de dlares, catalogando a Financial Pacific en la cuarta posicin por tamao de activos en el mercado panameo. Una prdida de 12 millones de dlares, representa casi el 9% del total de los fondos depositados de sus clientes en la empresa. Financial Pacific solamente cuenta con $250,000 dlares en reserva, segn estipula la Ley de Valores en Panam, y no dispone con reserva suficiente para cubrir la prdida de los 12 millones de dlares que reportaron este ao. 

Nos preguntamos: De dnde Financial Pacific cubrir los 12 millones de dlares perdidos? Con una nueva emisin de acciones (Stocks o Shares) o bonos (Bonds) falsos? Los clientes que componen la prdida de los 12 millones de dlares estn anuentes a esta prdida en sus cuentas de inversin? Acaso el Gobierno de Panam o el Banco Nacional de Panam cubrir la prdida de esos 12 millones de dlares que fueron sustrados ilegalmente en Financial Pacific? Qu pasar con todas las violaciones en Ley que se cometieron en Financial Pacific? Quedarn impunes el Sr. Ivn Clare Arias y el Sr. West Valds por todos los actos fraudulentos cometidos en Financial Pacific? Acaso el Sr. Ivn Clare Arias y el Sr. West Valds estn por encima de la Ley?

Los problemas en Financial Pacific no terminan solamente en la perdida de dinero en los depsitos de los clientes, el pasado mircoles 21 de noviembre de 2012, la SMV someti una denuncia criminal en contra de Financial Pacific Inc., y acusa a Financial Pacific, por la supuesta comisin de delitos contra la fe pblica (falsificacin de documentos), contra el patrimonio econmico (estafa) y contra el orden econmico (blanqueo de capitales), detectados durante una investigacin interna que se desarroll desde el pasado mes de octubre.

Nos parece increble una venta real de Financial Pacific, debido a las prdidas millonarias y a las serias
imputaciones criminales que involucran a Financial Pacific. Esperemos que esta venta no sea un intento de triangular la Empresa, y esconder a los verdaderos dueos a travs de testaferros, y resulte posteriormente en nuevas irregularidades que provoquen mayores prdidas econmicas a los clientes de Financial Pacific.

Nos preguntamos: Quin sera la entidad que comprara un negocio en quiebra y con que propsito? Quin responder por el dinero sustrado cuando los clientes necesiten realizar sus retiros?

Tpicamente en las historias financieras en otros pases, cuando una Casa de Valores (Broker-Dealer) es encontrada ilquida por su Agente Regulador, el Agente Regulador toma control de la Casa de Valores

(Broker-Dealer) y lo liquida en proporcin con sus activos lquidos disponibles. Los activos ilquidos de los clientes se pasan a otra Casa de Valores (Broker-Dealer) con mayor tamao, o se divide entre varias Casa de Valores (Broker-Dealer) principales. Posteriormente, el Agente Regulador prosigue con procesos judiciales, tanto civiles como criminales, para intentar recobrar el dinero perdido y enjuiciar a los responsables.

Sera sorprendente, que esta sospechosa venta pueda ser aprobada por la SMV.

Todas estas interrogantes e incgnitas las estaremos viendo a travs de las acciones que tomen sus protagonistas.

El futuro, la credibilidad y transparencia de los mercados financieros en Panam esta en juego, y depender en gran medida a las gestiones que realicen sus reguladores por mantener el mayor estndar tico en todos los integrantes del sistema financiero panameo.

Para la verificacin sobre el estado de la investigacin y cualquier otra informacin relacionada con Financial Pacific, favor de comunicarse directamente con la Agencia Reguladora:




Superintendencia del Mercado de Valores (SMV)



Direccin Fsica: Panam, Ciudad de Panam,

Ave. Balboa, Edificio Bay Mall Piso 2 Oficina 206



Telfono: (507)501-1700 Fax: (507)501-1709



Direccin Postal: Apartado Postal 0832-2281 WTC Panam, Repblica de Panam



Correo Electrnico: info@supervalores.gob.pa



Sitio Web: www.supervalores.gob.pa
 















Rumors of Sale in Financial Pacific:



The stranger attempted sale in Financial Pacific, behind a millionaire fraud and serious criminal charges








Due to the decline of "Financial Pacific", and pressured by speculation about the investigation being conducted by the Superintendency of Securities (SMV), the Public Ministry (MP) and the General Prosecutor in Panama, "Financial Pacific" through its executive Mr. Ivan Clare major Arias and Mr. West Valds, have publicly stated that they are in negotiations to finalize a sale and create a merger in its portfolio.



It seems incredible that "Financial Pacific" with a theft and loss of funds by nearly $12 million dollars, as claimed by its top executives (Mr. Ivan Clare Arias and Mr. West Valds) explicitly by press release, and a complaint filed in the Prosecutor in Panama, can manage a real "sale" feasible, with such a loss on

their books.



"Financial Pacific" reported assets (customer investments) in its reports of 2011, the total amount of $135,240,000 dollars, cataloging "Financial Pacific" in the fourth position in terms of assets in the

Panamanian market. A loss of $12 million dollars, representing almost 9% of all funds deposited by

clients in the company. "Financial Pacific" has only $250,000 dollars in reserve as prescribed by the

Securities Act in Panama, and does not have sufficient reserves to cover with the loss of 12 million dollars this year reported.



Our question: Where "Financial Pacific" will cover the $ 12 million lost? With a new issue of shares ("Stocks" or "Shares") or bonds ("Bonds") fake? Do customers that make up the loss of $ 12 million are acknowledging of this loss in their investments accounts? Does the Government of Panama or the Banco Nacional of Panama will cover the loss of the 12 million that were stolen illegally from "Financial Pacific"? What will happen to all law violations committed in "Financial Pacific"? Will there be unpunished Mr. Ivan Clare Arias and Mr. West Valdes for all fraudulent acts in "Financial Pacific"? Did Mr. Ivan Clare Arias and Mr. West Valds are above the law?



Problems in "Financial Pacific" not only end in the loss of money in customer deposits, on Wednesday November 21, 2012, the SMV submitted a criminal complaint against "Financial Pacific Inc.", and accuses "Financial Pacific" for the alleged crimes against the public trust (falsification of documents), against economic wealth (scam) and against the economy (money laundering), detected during an internal investigation which developed from the past October.



We cannot believe an actual sale of "Financial Pacific" due to huge losses and serious criminal charges involving "Financial Pacific". Hopefully this sale is not an attempt to triangulate the Company, and hide the real owners by third party, and subsequently result in further irregularities that cause major economic losses to customers in "Financial Pacific".



Our question: Who would buy a business entity in bankruptcy and for what purpose? Who will answer for the stolen money when customers need to make withdrawals?



Typically in financial stories in other countries, when a House Securities ("Broker-Dealer") is found by his agent illiquid Regulator, the regulatory agency takes control of the House Securities ("Broker-Dealer") and settled in proportion to its liquid assets available. The customers illiquid assets are passed to another larger House Securities ("Broker-Dealer"), or split among several House Securities ("Broker-Dealer"). Subsequently, the regulatory agency continues litigation, both civil and criminal, to try to

recover the lost money and prosecute those responsible.



It would be surprising, that this suspicious "sale" can be approved by the SMV.



All these questions and unknowns will be seeing through the actions taken by the protagonists.



The future, the credibility and transparency of financial markets in Panama is at stake, and will largely depend on the efforts conducted by their regulators to maintain the highest ethical standards in all members of the Panamanian financial system.



For verification of the status of the investigation and any other information related to Financial Pacific, please communicate directly with the Regulatory Agency:



Superintendencia del Mercado de Valores SMV (Panamanian Securities Regulatory Entity)



Physical Address: Panam, Ciudad de Panam,

Ave. Balboa, Edificio Bay Mall Piso 2 Oficina 206



Phone: (507)501-1700 Fax: (507)501-1709



Mailing Address: Apartado Postal 0832-2281 WTC Panam, Repblica de Panam



E-mail: info@supervalores.gob.pa



Website: www.supervalores.gob.pa






This report was posted on Ripoff Report on 11/27/2012 02:54 PM and is a permanent record located here: http://www.ripoffreport.com/r/Financial-Pacific-Inc/internet/Financial-Pacific-Inc-Casa-de-Valores-Financial-Pacific-Panama-Ivn-Clare-Arias-Ivan-C-974528. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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