All banks and financial providers do not get involved in lawsuits and issues where they supported US-sanctioned countries and for years burned investors because they didn't keep proper records and pushed off flagged e-mails and issues.
ING ran their business into the ground. What they're getting hit with is more than "you didn't properly give me time to pay my mortgage" or "you screwed up my deposit."
ING is not really in business anymore. They sold their ING Direct asset and will sell off more assets in the next few years – they’re dismantling themselves in order to survive. They just went public Thursday in order to do what – make money because they won’t have anything any other way. On top of it all they’re going to re-brand their name so ING won’t exist anymore. No, ING is not control anymore.
What does this have to do with PFNO? The company has bonds it says are real and for years has tried to get ING to pay. So many said Sid was the crook and ING was legit. Guess what, ING is not legit, and that’s been shown by the fines, settlements and fire sales that have been occurring and will be happening.
ING has been convicted of federal violations. That equals no good and they’ve been lying for a while. Sid has not been convicted of lying. That makes PFNO bonds look a lot more legit.
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