BONI and Hamilton Reserve Bank Face Judicial Recommendations in Nevis

A Nevis judge has recommended closing BONI, formerly Bank of Nevis International, and suspending Hamilton Reserve Bank following disputes involving depositor claims and allegations of fraud.

The recommendations concern claims of approximately US$105 million across the disputes, with the judge reportedly expressing doubts about repayment.

Are BONI and Hamilton Reserve Bank being liquidated?

The reported judicial recommendations do not themselves place either bank into liquidation or suspend Hamilton Reserve Bank’s license. They seek action from the relevant Nevis authorities.

OffshoreAlert’s September 17, 2026 report described the recommendations and the judge’s concerns about whether the depositor claims would be paid.

The authority to revoke or suspend a banking license rests with the relevant Nevis authorities. A judicial recommendation should be distinguished from a regulatory decision implementing it.

A subsequent OffshoreAlert report in October described Hamilton Reserve Bank losing an attempt to halt Nevis lawsuits and regulatory referrals. That development concerns the continuation of proceedings, not an order closing the bank.

Hamilton Reserve Bank disputes the allegations. In its published response, the bank defended its anti-money laundering procedures and said the claimants concerned were former customers whose accounts had been closed and whose balances had been remitted.

These statements represent the bank’s position in a contested matter. The outcome of individual claims and any subsequent regulatory action remain separate questions.

What could this mean for BONI and Hamilton Reserve Bank customers?

The implications hinge on the orders affecting each bank and the circumstances of the customer’s account. The reported US$105 million in claims should not be treated as an established loss for every depositor.

For customers involved in the disputes, the relevant issues include whether their claim has been determined, what payment obligations have been established as well as whether any orders have been enforced.

Other account holders should look for official notices identifying changes to their bank’s license, operations or account access. The recommendations alone do not establish that all customers face withdrawal restrictions.

Customers should retain account statements, transfer instructions and correspondence concerning any disputed payments. These records can help clarify their position if questions arise.

If you bank with BONI or Hamilton Reserve Bank and would like to hear my thoughts on these developments, email hello@adamfayed.com and WhatsApp ‪+44-7393-450-837.