Bananama Republic has learned that MasterCard's fraud department is investigating Pronto Cash, a debit card scheme in Panama that is run by Canadian fraud artist Monte Friesner. Pronto Cash sells debit Mastercards, which are apparently issued by the Banco Nacional de Panamá.
While Monte Friesner is not found anywhere on the corporate registry of Financiera Pronto Cash, S.A., he is in fact running things behind the scenes and may be a shareholder of said enterprise. His wife, Tatiana Nazarova, features as the president of Pronto Cash.
The investigation reportedly focuses on a possible case of identity theft. Earlier, Friesner was caught using the identity of a deceased Canadian war hero named J. Douglas Crashley, claiming that he founded One World Financial Solutions (another Friesner financial scheme), even though the founding date of that company was years after Crashley had died.
Something similar may be going on with another elder Canadian citizen, one Lawrence B. Heath QC. He is one of the directors of Financiera Pronto Cash, S.A. However, the real Mr. Heath is about 83 or 84 years old today. Emails sent to and comments posted on Bananama Republic which purported to be authored by Mr. Heath turned out to instead originate from Monte Friesner himself.
Is the elusive Lawrence B. Heath QC in fact Monte Friesner having stolen yet another identity from an unsuspecting victim? That's what investigations are currently focusing on.
Mr. Friesner, who was barred by the Canadian authorities from selling and/or brokering securities and serving as a director or officer of any securities issuer, after he had been caught promoting a fraudulent high yield investment scheme, has so far not been able to provide any proof of the real Mr. Crashley and Mr. Heath being alive and well and knowingly serving as directors and founders of his Panamanian financial ploys.
On the contrary, Friesner doesn't miss an opportunity to emphasize on web forums that Pronto Cash is a licensed financial institution in Panama. However, the kind of license he flies under is easy to obtain and equal to those issued to pawn shops and the like.
If the MasterCard investigation - and others that are on the way - indeed turns up yet another case of identity theft, this would indicate a serious lack of due diligence on the part of Banco Nacional de Panama before entering into business with this known Canadian financial criminal.
Until things have been cleared up, we advise our readers to stay away from Pronto Cash and its crooked promoters.