The suspicious relationship between Turner Little and FBME Bank

  • FBME Bank has an office in York (UK) since 2006 with secretary services from Turner Little.
  • Company broker introduced hundreds of their customers to a bank they should know was about to end.
  • High charges for bogus solutions while Turner Little is in bed with the bank.

The Federal Bank of the Middle East (FBME bank) is the latest victim of the vigorous approach of governments and central banks to create a sound financial system. The bank has been accused of facilitating a platform for money laundering and to fund terrorism. But that’s not all. Hundreds of accounts have been found by the regulatory bodies where KYC procedures have not been met. Numerous accounts have been opened for bogus companies, with directors who had no clue about the business activities or even for companies that should not be allowed to have a bank account at all; human  traffickers, forced prostitution, pyramid schemes and even accounts used in phising attacks were found during the recent investigation.

Incorporated in 2006, o5-02, FBME Bank Limited in York has two shareholders; Fadi Saab (1949) and his brother Ayoub-Farid Saab (1939). The company is registered under number 05802936, is active and in good standing. The surprising part is that the secretary of the bank is the infamous firm Turner Little. Turner Little is well known for over charging its customers and giving mediocre advice.

It is quite interesting to see that Turner Little offers its customers – they introduced to FBME Bank in the first place – a pricy solution to get their money back. Shouldn’t they offer this service for free? Shouldn’t they give back the fee the customers paid them in the first place? It’s amazing to see that customer would even consider to hire the services Turner Little offers for a problem they created themselves.

There is not much reliable information available. It seems that the central bank does not want to provide information or does not know either. The FBME Ltd website is a farce from the beginning and the media in Cyprus seems to express the FBME voice. Only one serious explanation of the current situation was discussed here.  It seems the big dogs involved hope this will just end by itself. Unfortunately these things never do.

For more information on FBME bank limited in York, do a Google search and type ‘FBME bank limited York’ to make up your own mind.

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