capital conservator?

james bond · #1 10-02-2010, 02:03 PM

is any body using capital conservator? are they still in business?
which bank they use?

OffshorePrivacy · #2 10-03-2010, 09:08 PM

The last information I have is when a client about 3 weeks ago tried to paid me from their Capital Conservator account for our Central EU trust account, which has a direct account number, not a shared account like Capital Conservators. The transfer never went through and the client has since says they have no access to move their money anywhere.

Capital Conservator has been having serious problems for over year now so I would avoid them like the plague unless you want your funds frozen.

james bond · #3 10-03-2010, 10:13 PM

wich bank they was using? wiil be nice to know so we can avoid it?

OffshorePrivacy · #4 10-03-2010, 10:35 PM

I do not know what bank they use now, but the issue is not the bank(s) that Capital Conservator uses, it is their business. In fact, if your a normal customer of their banks you would more than likely never have an issue as long as your not a crook or scammer. The problem is Capital Conservator uses a New Zealand limited company to do business through the banks and a New Zealand Ltd. is not licensed to conduct 3rd party banking services. This is where the problem comes into play as client funds are not segregated in any way so if there are problems with a deposit that is considered illegal or questionable such as someone wiring in hacked funds from another bank, a Forex or investment scam, etc. these unlicensed financial services firms have to "sign and dance" to keep the account open which in Capital Conservator's case does not work well. Thus, "one bad apple can spoil the entire bunch".

The New Zealand government is cracking down on New Zealand corporations providing financial services to the public. Previously, all you had to do was to form a NZ Ltd. and convince a bank to let you start accepting deposits -- or worse just lie to them and accept it anyway. Starting December 1st the New Zealand government will start requiring any NZ Ltd offering financial services to apply for approval to do so. Thus, if the New Zealand "fiance" company is not authorized by the govt they are operating illegally.

http://www.business.govt.nz/fsp/help...stering-an-fsp

**Barron** · #5 12-09-2010, 07:45 AM

Still in business and doing really well like I heard just recently, they're expanding their offerings. A colleague of mine runs an account through them

james bond · #6 12-09-2010, 04:40 PM

this message looks like somebody tvery near to capital conservator

hmmm

james bond · #7 12-09-2010, 04:41 PM

can you tell us which bank they use? it will be intersting

OffshorePrivacy · #8 12-09-2010, 07:35 PM

Interesting yes, I think you mean their bank "du jour" or bank of the day as they have changed banks so many times now.

Also according to the New Zealand companies house Financial Services Provider listing they are listed as a money transfer service say they do not provide financial services to retail clients:

Quote:

Dispute resolution scheme

Not providing any financial services to retail clients

When you provide 3rd party financial services to clients you must be registered with a Dispute resolution scheme which they are not.

http://www.business.govt.nz/fsp/app/...P/FSP2881/2.do

**Barron** · #9 12-10-2010, 03:49 AM

I know someone who has an account there is all and after reading in here had a look at their site again, they do keep client accounts separate and they're apart from the company accounts. They also form companies that seem to be better priced than "Swiss private trusts" offerings for companies. I just don't like someone that posts on a board and shovels it on others with the wrong facts to get business for himself.

I like to check out any info that ppl who sell put up, especially when they try to trash the competition. I especially liked the Panama Lawyer types that used to post here, most of the information they had/have on their very well done site is/was outright wrong or downright misleading, check before you buy, always.

OffshorePrivacy · #10 12-10-2010, 05:06 PM

You are promoting an improperly licensed financial services firm that claims they do not offer financial services to retail clients but does, has been charged with money laundering, has had their accounts closed and frozen time and again. The operate shared/pooled accounts as each client does NOT have their own direct account to fund. It all gets sent to Capital Conservators main account "for further credit" to the clients account.

Their offshore LLC they claim to "rent" is nothing more than sending a wire for further credit to "blah blah LLC", there is no LLC. So yes their fake LLCs are less expensive than a real IBC.

And CC has really great prices, lol, 2.0% to receive a wire with a minimum fee of 50 which ever is greater, and 50 or .5% which ever is greater to send a wire. I guess I should tell the Swiss trust to price their services like CC, they would make a fortune.