Research Question. . .

[KGW]

A sister-in-law told me she was about to put some serious money into a bank that was advertising high returns on CD's. I got the name of the bank from her and spent last night trying to get details about this bank.

It does not look good, to say the least:eek: Millenium Bank, subsidiary of United Trust of Switzerland, located in St. Vincent, Grenadines.

She is an intelligent woman, but the prospect of "easy" money has her off her game. If anyone has come across any definitive comments on this bank, please share them so I can use them to convince her to ease off this phantom bank.

[Sapiens]

A sister-in-law told me she was about to put some serious money into a bank that was advertising high returns on CD's. I got the name of the bank from her and spent last night trying to get details about this bank.

It does not look good, to say the least:eek: Millenium Bank, subsidiary of United Trust of Switzerland, located in St. Vincent, Grenadines.

She is an intelligent woman, but the prospect of "easy" money has her off her game. If anyone has come across any definitive comments on this bank, please share them so I can use them to convince her to ease off this phantom bank.



Why do you care? Is it your money? Will her loss affect you in any way?

'nother link (http://www.mymoneyblog.com/archives/2007/06/millennium-bank-perhaps-not-a-scam-but-not-safe-either.html)


I wouldn't touch with a 10 foot pole... (http://www.investmentinternational.com/productA/Millennium_Bank.htm)

[zoog]

Why do you care? Is it your money? Will her loss affect you in any way?

Sapiens, you are one cold guy sometimes. In tough times, I think it's always a good idea to help family and friends in any way you can. First, I just think that's the "right" thing to do, but that's a moral issue so I wouldn't push that on anyone. But second, somewhere down the road they may have something that you need, other than money. Might be food, shelter, information, a skillset... who knows? Maybe just some companionship while you're holed up in your impenetrable secret island fortress. Best to not burn any bridges.

[KGW]

Why do you care? Is it your money? Will her loss affect you in any way?

'nother link (http://www.mymoneyblog.com/archives/2007/06/millennium-bank-perhaps-not-a-scam-but-not-safe-either.html)


I wouldn't touch with a 10 foot pole... (http://www.investmentinternational.com/productA/Millennium_Bank.htm)

I came across these links last night while seeking info. . .No, her financial loss would not effect me. It would, on the other hand, affect her, and I have known her for 30 years and would not like to see her throw her money down a hole.

I am in complete agreement with the "10 foot pole" comment. It beggars my imagination that she did not observe due diligence on this.

[Jim Nickerson]

I came across these links last night while seeking info. . .No, her financial loss would not effect me. It would, on the other hand, affect her, and I have known her for 30 years and would not like to see her throw her money down a hole.

I am in complete agreement with the "10 foot pole" comment. It beggars my imagination that she did not observe due diligence on this.

Why is the "school" called the "one of hard knocks"? The problem with giving family, friends investment advice is that if taken you enter into affairs for which they are responsible. If your advice turns out wrong, what good has it done anyone? Your in-law is obviously an adult. Tell her what you would do with your money and let the issue rest.

[KGW]

Why is the "school" called the "one of hard knocks'? The problem with giving family, friends investment advice is that if taken you enter into affairs for which they are responsible. If your advice turns out wrong, what good has it done anyone? Your in-law is obviously an adult. Tell her what you would do with your money and let the issue rest.

Thanks, Jim. I did think long and hard before making any remarks to her, for the reasons you state. I will not pursue the issue, but felt I would have been remiss to simply ignore the information I discovered.

[moonshot]

Thanks, Jim. I did think long and hard before making any remarks to her, for the reasons you state. I will not pursue the issue, but felt I would have been remiss to simply ignore the information I discovered.
I think you're onto the best approach - pass her the info you've found, and let her make her own decision.