Mission accomplished! Pronto Cash, the debit card scheme of fraud artist Monte Friesner , his fraud wife Tatiana Nazarova and their lawyer/director Herbert Young, is dead. Gone. Passed away. Soon to be buried on the cemetery of wacky scams next to the noni plantations and Marc Boswell's get-rich-quick scams.
El Panama America reports today that the Ministry of Commerce and Industry (MICI) has ordered Pronto Cash to be closed and fined them $10,000 for illegally operating as a bank, not filing reports, not meeting capitalization standards and so on.
Mind you, that is next to a criminal investigation that is currently being conducted by the financial crimes unit of the Public Ministry, which seeks to prosecute those responsible for the scheme.
Apparently, Pronto Cash had defended itself at MICI saying that they were in the business of making loans. However, in years of operating, the company had only made 12 loans, most of them to employees.
Also, contrary to Friesner's claims of being capitalized to the tune of $500 million through "gold bonds", MICI found that Pronto Cash's capital was just $6,482.
The question what related financial activities permitted Friesner and Nazarova to live the high life in a $10,000 a month apartment in the Bellagio tower in posh Punta Pacifica remains subject of further investigations, your Bananama Republic has learned.
Friesner, in hapless attempts to salvage his crumbling schemes has been on a mud-slinging rampage lately all over the internet, but most notably on the website of his fake investigations and due diligence firm "WantedSA". He even went as far as harassing family members of your reporter.
In these fruitless efforts he has lately been assisted by one Kenneth Rijock, a convicted money launderer who works for a dodgy Thomson-Reuters owned due diligence outfit called World Check.