Dear Plexpay/Evolve member,
Over the last months Loyal Bank has assisted Plexpay/Evolve with a commission payroll
system, always striving to provide a good a time effective banking service. However, only
in the last week we have learned from several sources, that Plexpay is facing certain legal
issues. Even more, we have received several telephone calls and emails from Plexpay/Evolve
members concerned about their accounts held with us as Plexpay is facing these problems.
Loyal Bank has not been aware of any problem that the Company was facing; and until now,
the Bank has not a clear understandingof the legal issues that is behind Plexpay at the moment.
Much of what we know was learned the same way as you had (news articles, mails and Internet forums).
Until we do not know what will be the legal implications we have to wait for the competent
authorities to deliver the statement. In the meantime and taking all the aboveinto consideration,
and in order to protect your funds held with us the management at Loyal Bank, have decided to freeze
the accounts pending the outcome of the investigation. We would like to draw your attention that this is
only a temporary measure to protect your funds in order to ensure that no access or claims can me made
against your account. This is only a protective measure.
We are asking your patience and understanding in this regard until we know what is the exact legal
issuePlexpay is facing. We would also like to assure you that your funds are secure and will be released
pending the results of the investigation. We at this time cannot predict the timeframe of the investigation
and will keep you informed.
Once again thank you for your understanding.
THE MANAGEMENT
LOYAL BANK LIMITED
http://www.loyalbank.com
LOYAL BANK - THE PURSUIT OF EXCELLENCE IN ADVANCED BANKING SERVICES
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Thread: Update from bank regarding Plex.
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28-09-2005, 10:21 AM #1
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