$3,035 dollars was raised yesterday from a fundraiser event held to help Bank of Guam and Bank Pacific customers with accounts placed on hold due to the Economic Impact Payment issue.
Funds raised are said to pay for a lawyer’s retainer fee to help the customers file a lawsuit
Although the fundraiser had a big turnout of a 162 people that donated to the cause, it was not enough to cover the retainer fee of $5,000.
However, Senator Rukebai Inabo, who was also present during the fundraiser said that they will help cover the difference by soliciting funds.
She also expressed that what has been done to these account holders is an injustice and something must be done.
Hadleen Medalarak was not one of the customers with frozen accounts, but she has been helping those that were impacted by the banks.
She said that more than 400 people have had their accounts frozen and it has caused them a lot of suffering.
She said that “the effected people’s blood pressure has spiked up because they have family, customary, and other obligations that they need to take care of with their money.”
Attorney Johnson Toribiong has agreed to take the case once the retainer fee has been met.
In May, US Internal Revenue Service allowed for non-filers with US social security numbers to file for an Economic Impact Payment. Many people with US Social Security numbers went online and filed with US IRS and were approved for payment. One of the instructions was to provide a bank account number where payment can be directly deposited. Many such applicants provided their local bank accounts including account holders with Bank of Guam and Bank Pacific. Those account holders found out that their accounts have been “placed on hold” due to the EIP payment and to clear their eligibility with the bank in order to have the hold on their accounts released.
Despite communication exchanges between OEK and Bank of Guam and President Remengesau Jr. and Bank of Guam, the bank is firmed in its position that it followed bank laws and regulations and is not in error in placing such accounts on hold until account holders clear with them the eligibility questions.

Join the Conversation

2 Comments

  1. The bank is not at fault — we need to stop defending stupid – these guys tried to cheat the system by applying for USA Stimulus money when they don’t live in USA. You embarrassed yourself, family and people you get no sympathy from me .. maybe raise money for a better a cause than help law breakers and thieves

  2. BOG victims ! LOL By not raising 5000$ tells me that most Palauan’s know these guys tries to cheat the system and deserve a shit sandwich – They all lived in the USA so they should have know better

Leave a comment

Your email address will not be published.