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$300,000.00 COB Credit Union Fraud


BARBADOS (Naked Departure) —  COB CREDIT UNION, Barbados — Naked, it is amazing that since finding out about the extra three hundred thousand dollars in my mortgage document in February this year to date The City of Bridgetown Credit Union has not resolved the problem.  (Please advise if the pdf documents you submitted are to be published.)

The CEO of that institution has admitted that I did not have the money.  The legal document that they changed after I signed and they registered at the land registry contains the extra three hundred thousand dollars.

They lifted my electronic signature and placed on documents to make it appear as though I signed the fraudulent documents.  The loan bond document that has an extra five years added to it even contains the wrong surname.

The Financial Services Commission which is the regulatory body for credit unions has done nothing to prevent COB from defrauding honest, hard-working citizens of Barbados.

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I am shocked that a company in Barbados, after the recent CLICO fiasco which should also have been regulated by the Financial Services Commission, can continue to operate fraudulently.   Anonymous

Naked Departure

13 thoughts on “$300,000.00 COB Credit Union Fraud”

  1. Wow anytime I hear Barbados Fraud Squad I am sceptical because I know from first hand experience that it is a crooked corrupt outfit tainted with dishonest police officers/detectives who are part of the problem not the solution.

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  2. The Supervisory Committee of a credit union is supposed to investigate complaints from members. I am a member of the Supervisory Committee of COB. Sometime ago this lady called me to make a report about her troubles with the COB. Her complaint was so remarkable that I wasted no time waiting for a meeting. I took it upon myself and drove to her house to gather the evidence. I have since found her claim to be bogus.

    Since she has already put her financial information in the public domain, I am free to comment on the specifics. It is true that she borrowed $300,000 from the credit union. That amount did not complete the project and she returned for an additional $50,000. Rather than give her two loans, the credit union gave her a single loan of $350,000 and wrote off the first loan. She has in her possession an executed release for the first loan. Her lawyer, the police and I have already explained to her that she only has to pay the credit union $350,000 and not $650,000 as she is claiming but she refuse to accept that.

    She acknowledged that she received the additional $50,000 but insisted that she did not sign to receive it. Now ask yourselves, why would a credit union employee forge her signature and give her the money?

    I understand that she complained for the sergeant who concluded that there was no fraud. The complaint was reviewed by an assistant commissioner who came to the same conclusion and now I understand that she has complained for the assistant commissioner.

    Naked I believe that the lady is delusion. I would stake my reputation on what I have written in this comment.

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    1. (I do not want my name or address printed for the public yet)
      My Caswell Franklyn I thank you for proving how Fraudulent COB is yes Naked Departure you can put the further charge document for the whole of Barbados and the world to see that even some members of the supervisory committee are in on the scam taking place there as well. The minutes of the last AGM should reflect that Mr. Caswell Franklyn stated on the floor I told you (referring to The Board) to deal with that issue before the AGM. Your reputation is on the line for the document will be published. I never received any fifty thousand dollars so I wonder who at COB did. My Franklyn your reputation is on the line. It is amazing that he makes reference to the police report I have not seen it or even been told about the findings. The tentacles of COB are really wide or should I say long. I never borrowed any three hundred thousand dollars. Sir you need to get your facts correct and try not to further ruin your reputation. Corruption at its height. Persons the public thought had integrity leaves one to wonder what example is being set for the youth. I dislike dishonesty in all forms but to appear to be trying to help someone when you collected the documents from my home stating you are going after the CEO of COB. Shame on you. The minutes of the Supervisory Committee should reflect that you did not attend the meetings in February or March so as not to have my matter investigated really shows your true colours. OH sorry I forgot you were sick for those two meeting.I am greatful that all the members of the supervisory committee are not as “honest” as you.

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      1. you are saying you don’t want your name and address released….but yet give permission for the documents to be published. Please clarify, as the documents contain that information.

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    2. Mr. Franklyn it appears as if you have inside source(s) at the same dirty fraud squad. Is it true that birds of a feather flock together? Sometimes it is good to keep your mouth closed and be thought a fool that to open your mouth and remove all doubt. Becareful what you state that is not factual. Your reputation is on the line.

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    3. Mr. Caswell Franklyn try not to link my name with yours. I am not accustom to saying negative things about people or organizations unless there is truth in the accusation The first report of the sargeant around March was that fraud was committed the decision was that it was civil not criminal. The assistant commissioner was very helpful from the time I contacted him in August and at no time did I complain for the assistant commissioner. Your facts or should I say understanding leaves a lot to be desired. Probably if you had done you job on the supervisory committee you would not have to try to mend your reputation now. Remember that the stipend you receive from the credit union you should have earned. The head of the financial section of the fraud squad told me that the assistant commissioner told him to write a report to me. i am still waiting on it but with your connections maybe you can get it for me.

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  3. I would not pay another cent,for my first loan is now Marked paid, and nothing was sold,If the house was sold for 300,000 more than i paid then give me my money,The Credit Union is not entitle to another red cent, Fraud was done , call police STATION SGT MARK WHITE, HE IS GREAT FOR HELPING THE CROOKS,” not so royal” have records even if they do nothing, Also post the names of the lawyers that work for the Credit Union Bank and the one that may have worked with(against ) you , Do NOT re- SIGN NOTHING DEALING WITH THAT LOAN, DO NOT Sign NOTHING for they may trick you into singing away your rights,,,,Plenty fraud at the land registry and Archives, ,

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  4. I believe COB did this. They are a very unethical and dishonest business. I know a friend who suffered a similar fate.

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  5. So wait are you saying you are paying back $300,000.00 you never received? Get copies of the documents and go after them. If it was the other way around they would come after you. Blasted bold faced thieves!!

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  6. LET A MAN OR WOMAN FROM THE PINE OR CHAPMAN’S LANE DO THIS , THE STINKING FRAUD SQUAD ,AND OUR CORRUPT JUDICIARY WOULD HAVE THEM ON REMAND ! IN PRISON! GET A RADICAL LAWYER! DAVID COMISSIONG AND STOP! PLAYING WITH THESE CRIMINAL’S BEFORE THEY GET YOU KILLED OR LOCK UP ! YOU’RE EXPOSING ORGANIZED CRIME HERE ! THAT’S WHY NO ONE IS TOUCHING ITT! ITS WHOSE INVOLVED ! THAT’S THE PROBLEM HERE !

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    1. You are 100% correct most financial crimes are done within Banks and Credit Unions by staff. Agree also with getting David Commissong the lawyer to deal with. He dealt with a financial matter for me when I was being defrauded and was able to exposed the other party.

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