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sterling into a 6-month certificate of deposit. The deposit
represented the proceeds from the sale of their Isle of Man house.
During the 10 years following this initial deposit, only one
partial withdrawal was made from this account (discussed infra).
With that exception, petitioner and her husband allowed the
interest and principal to roll over into successive certificates of
deposit. By their own terms, the certificates of deposit were
"automatically renewed with interest", absent written instructions
to the contrary from petitioner.
Petitioner's account No. 03000571 was a "no correspondence"
account. As such, except upon request, the IOMB of BCCI, S.A.
generally did not send statements or other paperwork to
petitioner's residence.
In addition to account No. 03000571, Mr. Aston opened at least
one other account at the IOMB of BCCI, S.A. (account No. 02013325).
The full extent of the Astons' relationship with BCCI, S.A. is
unclear from the record; however, the claimed loss at issue arises
solely from the funds held in account No. 03000571. Petitioner
also maintained accounts at the Isle of Man branches of Lombard
Bank and Barclay's Bank. The Barclay's account was opened when
petitioner and her husband first moved to the Isle of Man. It is
unclear when the Lombard account was opened.
Following her husband's death, petitioner made one withdrawal
from account No. 03000571 to purchase a residential unit in
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Last modified: May 25, 2011