Think Swiss Annuities Are Safe?
Think again!
For
countless decades the Swiss Banking and Insurance industry has celebrated a
sparkling and sterling image. But
that image has recently been severely tarnished and badly shattered? Discover the
startling and unsavory dilema of my true story.
What
is an annuity?
An
insurance company issued annuity is a financial investment that creates some retirement
security as the policy matures, and as designed, is structured to return
monthly retirement payments to the holder or designated heirs over a period of time as
described at the policy’s conception. Annuity Insurance policy funds
may be borrowed against, and can be fully redeemable by the policy holder as sated
within.
________________ . _________________
A Safe Investment?
That was a simple given as
initially agreed. As time passed all was in order, or at least it appeared to
be.
But,
during the coarse of my active policy maturing period, a Swiss
administrator contacted myself and arranged a meeting with me here in the U.S.
I was quite impressed that my policy investment of $70,000 was important enough that a
high ranking member (V.P.) of the management company would travel to the United
States to confer with myself regarding my policy.
The
Bait & Switch:
Out of sheer curiosity I agreed to meet with the insurance companies (CapitalLiban) Swiss
Representative, and following lengthy discussion, was prompted to change
my supposedly outdated standard
annuity policy to a multi-asset policy configuration that would be of greater
value with greater financial yield at maturity. I was compassionately assured that this
change was a safe and sane direction, and the accompanying literature supplied
by my Swiss Rep. boasted of its
Asset Protection and Swiss Safety Guarantees. With the reputation and strength
that Swiss investments enjoyed, I felt quite assured this was a safe and
protected upgraded move.
All
seemed
in order after this change of policy occurred. And, as the years passed
and the policy matured as intended to allocate monthly payments to
myself upon
retirement at age 72, nothing seemed out of order. After all, as a
disabled veteran needing some favorable return, it’s a basic insurance
investment providing a typical return on investment at a given age for
income
supplement.
Troubling signals:
However, approaching policy maturity, 3-4 years ago, I
began receiving strange messages from a new policy administration management
team.
Enter this new Swiss Financial Group POM (Portfolio
Management Team Ltd.), or personally referred to as POMM, the (Portfolio
Mis-Management Team Ltd).
Suspicion
begins to surface:
As
several
months passed, I became more and more suspicious of POM as reports of
wrong doing within the management team itself surfaced. In addition more
disturbing signals arose from various Swiss financial sources that all
was not
well within this new management group.
After
several stressful communications with POMM, I began feeling they exhibited a
lack of client concern, one that made me quite suspicious of their competency
and integrity.
A
frightful decision:
At
this point I had a lot at stake over the many years of
accumulated financial maturity with my annuity retirement supplement.
However, I felt that it would be prudent to surrender my Swiss policy
and invest in
something more manageable and closer to home.
My decision prompted anger within
the POM Mis-Management group and they soon ordered me to immediately return my
original policy before they would consider returning my full investment. I
immediately complied, and without any benefit of interest nor dividends
distribution from my lengthy monetary pledge, that of which I entered into in
good faith and trust. I unfortunately uncovered a scheme of many years in the making as they operated with my
money without any compensation to myself whatsoever.
What a shocker:
During
my lengthy wait time to be fully reimbursed, I received communications
from the POM Mis-Management Team that they would no longer represent me
since I surrendered my policy and they were now waiving any responsible
nor help for recovering any financial transactions between us. This was a
shocker to say the least.
Eventually,
after several more long months, POMM contacted me and asked for my bank acct.,
and routing number. Shortly afterwards, I received a bank notice that a deposit
was recorded I my account from a Swiss Bank. I was overjoyed only to
discover that only one-half of my investment had been returned, and without any accounting of the remaining balance, nor interest or dividends for 13 years use of my investment money.
It became quite clear:
Since
it’s
now obvious that this policy change was a flawed strategy and largely
responsible for providing me with a sense of false security and safety
while prompting
me into a questionable and destructive policy. We all know the scheme as
Bait & Switch that they now claim was not safe and sane as boldly
stated in their multi-asset policy literature.
The
fraud, theft, and co-conspiracy:
For
instance, POM’s recent 2012 refusal to honor my request to disclose and inform
me of where my remaining funds (appox. $40,000) were being held, and refusal to
fulfill my 2012, & 2013 request for mandatory disclosure of these funds for
IRS tax reporting purposes triggering an IRS non-compliance situation for
myself.
This
alone
is self-incrimination of the conspiracy that the POM Mis-Management and
theft Team has been engaged in for several years now. And, all the while
claiming my remaining funds were non-liquidable. This non-liquid fraud
has spanned several years and has taken my retirement investment and
rendered this
occasion as a dilemma instead of a welcomed return on investment.
After
many years of receiving fictitious end-of-year financial statements from POM
describing my investment in full, I no longer receive statements and
they claim the balance due of my remaining money has disappeared, and vanished.
Were my investment funds
lost in bad investments or were they just appropriated by members of
the Swiss cartel? There has never been an accounting of these
mis-appropriated funds offered by POM to date.
Others
are involved:
My policy has transferred within several banks and
Insurance companies since inception. And, now after all this time I’m casually
informed half my investment has evaporated in thin air while all along playing
and baiting me into belief all is well and my retirement is in place and safe.
So far I’ve been able to determine that multiple Swiss companies are party to
this overreaching theft of client funds. And, my investment has been well
masked and well hidden under the veil of deceit, lies, phony financial
statements, half-truths, a possible criminal co-conspiracy, and now possibly
embezzlement of client funds.
I want to hear your story:
If you have been victimized in the same or similar manor, please contact me by email at ...... pdisme@yahoo.com
I am at this time seeking help identifying a Swiss Govt.
Regulatory Agency to file a criminal complaint with, or possible a class action
law-suit may be in order if others will step forward. This theft will not go
unnoticed, and I encourage anyone that has similar harm to please republish my
true story throughout the internet and internationally to anyone and everyone
in the worldwide investment, financial, private, or business sector to alert
their clients, family and friends of these developing wrong doings, and or
possible criminal activities.
If you seek a safe investment haven, keep it within your
borders as there is little safety from beyond. Especially not
Switzerland with the recent Swiss Banking scandal regarding money laundering and Ponzi activity.