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Euro Pacific bank is a scam

#1,484
Hi all, there is a group of fellows EPB quaked that hired a lawyer in PR to try push for a solution. I did not join because number
of participants was too low and it was costing too much in relation with what i have stuck in there ..
Would it be worth in your opinion try join them in a good number of us lowering the attorney fees for each participant?

This thing is taking a time too long, i am starting to think that we risk to loose our deposits.

What do you think ?
 
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#1,486
ATNTESTING said:
It was somehow related to EPB. Because of the liquidation, I am looking for another offshore bank. And some people in this thread might have been through this already.
Click to expand...
That's an unrelated matter. Start a new thread about finding new banks. Otherwise, this thread will become a mess with different topics intertwined.
 
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#1,487
Giorgiogori said:
Hi all, there is a group of fellows EPB quaked that hired a lawyer in PR to try push for a solution. I did not join because number
of participants was too low and it was costing too much in relation with what i have stuck in there ..
Would it be worth in your opinion try join them in a good number of us lowering the attorney fees for each participant?

This thing is taking a time too long, i am starting to think that we risk to loose our deposits.

What do you think ?
Click to expand...
I don't think the funds are lost, but I'm not surprised if several more years go by until we see anything of it. I don't have too much stuck, so I prefer spending my energy elsewhere.
 
#1,489
Giorgiogori said:
Hi all, there is a group of fellows EPB quaked that hired a lawyer in PR to try push for a solution. I did not join because number
of participants was too low and it was costing too much in relation with what i have stuck in there ..
Would it be worth in your opinion try join them in a good number of us lowering the attorney fees for each participant?

This thing is taking a time too long, i am starting to think that we risk to loose our deposits.

What do you think ?
Click to expand...

I'm not sure hiring a lawyer is going to make any difference, what we need is more information from the Receiver, or from Qenta, or from Peter Schiff.

It's obvious that the Receiver's fist plan failed, then he came up with a second plan and it also failed, and here we are.....

We haven't been told why Novo Bank is not releasing the funds, and we haven't been told what the Receiver is doing about it? Has he hired a lawyer in Portugal? How much longer will this process take?
I thought the Receiver said he was going to start communicating with us more frequently?

I also believe there's a possibility of losing our funds, but it's imposible to know given the lack of information, who knows what's going on...
 
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#1,490
ATNTESTING said:
same for me. It did cost around 10% of what I have at EPB...
Click to expand...

Agree , same for me but if we are many it would cost much less .. it was at 1000 each for 10 actors
Radko said:
I'm not sure hiring a lawyer is going to make any difference, what we need is more information from the Receiver, or from Qenta, or from Peter Schiff.

It's obvious that the Receiver's fist plan failed, then he came up with a second plan and it also failed, and here we are.....

We haven't been told why Novo Bank is not releasing the funds, and we haven't been told what the Receiver is doing about it? Has he hired a lawyer in Portugal? How much longer will this process take?
I thought the Receiver said he was going to start communicating with us more frequently?

I also believe there's a possibility of losing our funds, but it's imposible to know given the lack of information, who knows what's going on...
Click to expand...
Nothing is moving, no information whatsoever, if there is no push there is no rush for them
 
#1,492
Hello Everyone,
sorry I have joined late this group, can anyone please explain me the basics of what is happening? or point me to where is already explained? I understand that the country authorities have forced all this, EPB is maybe victim or maybe not, we don't know really. But who or what is the receiver? and where we think it is the money at the moment? And who should act to unblock?

Sorry if silly questions
thanks
Mike
 
#1,494
MikeDem said:
Hello Everyone,
sorry I have joined late this group, can anyone please explain me the basics of what is happening? or point me to where is already explained? I understand that the country authorities have forced all this, EPB is maybe victim or maybe not, we don't know really. But who or what is the receiver? and where we think it is the money at the moment? And who should act to unblock?

Sorry if silly questions
thanks
Mike
Click to expand...

Hi,
The Receiver is a lawyer appointed to liquidate EPB, he is in charge of getting out money back, but he is not keeping us informed.
Most of the funds were deposited at Novo Bank in Portugal, that's where most of the money is.
We don't know much more....

Giorgiogori said:
That is the point, at least they have to make it clear to a lawyer representing depositors
Click to expand...

If it's not too much money I'm willing to chip in, unfortunately all my life's savings were deposited at EPB, I thought my money was safe at a full reserve bank, clearly I was wrong. I never accounted for the fact that EPB was not keeping up with the regulatory requirements needed to keep their license active.
If I don't get any of my money back I'll be in serious trouble, I guess I'll have to work until the day that I die.
 
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#1,495
I can ask the fellows that started hiring the lawier if they are willing to accept further people to share the expenses ..
I think there were 11 participants sharing a 10k bill from lawyer, so if they are willing to let other people in maybe expenses can be lowered ..

Who would be interested? Can we make a quick count?
 
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#1,496
Giorgiogori said:
I can ask the fellows that started hiring the lawier if they are willing to accept further people to share the expenses ..
I think there were 11 participants sharing a 10k bill from lawyer, so if they are willing to let other people in maybe expenses can be lowered ..

Who would be interested? Can we make a quick count?
Click to expand...

I would be interested, but a bill of $10K for this lawyer to tell us the same we've been told by the Receiver, would be a waste of money.

Doesn't it sound absurd that customers have to pay an independent lawyer to extract some information from the same Receiver that is charging $10K-$20K every month?
 
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#1,497
Radko said:
Doesn't it sound absurd that customers have to pay an independent lawyer to extract some information from the same Receiver that is charging $10K-$20K every month?
Click to expand...

Absurd is that in fact we are charged each month and in return we have nothing. It looks like a loan with endless period of time. Everything in accordance with the law and against the will of the creditors.
 
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#1,498
in
Radko said:
I would be interested, but a bill of $10K for this lawyer to tell us the same we've been told by the Receiver, would be a waste of money.

Well, hiring a lawyer is a way to confront the receiver, if we give for granted that a lawyer will side the receiver then it is better to give for granted that there is no way out.
I think the 10k are a grant for the lawyer to work on this, it does not means that they will be the final bill but it is a deposit to guarantee his work will be paid.
I dont know how much he wiill bill and what direction his action will take but i think that if we participate in a good number, the cost per participant would be much lower.
It is the only way we have to push for a solution and stay informed, othewise everything stays at their will.
Click to expand...
Doesn't it sound absurd that customers have to pay an independent lawyer to extract some information from the same Receiver that is charging $10K-$20K every month?

It is but what is the alternative?

regi said:
Absurd is that in fact we are charged each month and in return we have nothing. It looks like a loan with endless period of time. Everything in accordance with the law and against the will of the creditors.
Click to expand...

Exactly and it sounds pretty illegal, fact is the only way to oppose is give it to a lawyer or grant the endless loan.
 
#1,499
A number of us have joined together and hired a lawyer. I genuinely believe that the more that hire a lawyer the more effective we will be . We have both opt-in and opt-out customers. Of course you are free to hire your own lawyer but we feel we have a good lawyer and of course we are sharing the cost amongst a number of us.

Our lawyer is in regular contact with the Receiver and has also submitted a letter of complaint to OCIF on behalf of those that he represents.

I am happy to discuss with anyone further if you email me at : o[email protected]
 
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#1,500
I am glad to announce that Novobank finally reply to my complaint haha

Dear Sir,

We apologize the delay in our response to your email dated 28th April, 2023, regarding the above mentioned subject.
NOVO BANCO acts and is always acting in accordance with the statutory obligations and accepted banking sector rules standards, co-operating with the authorities on request.

Due to the Bank´s duty of confidentiality to its customers, NOVO BANCO is unable to disclose any information or documents about client our its accounts, without being directly notified of a Court decision to that effect.

Any matter or action related to this subject shall be directed to the competent authorities which shall take the necessary measures.
NOVO BANCO stand ready to cooperate with the judicial authorities in everything that will be necessary.

Best regards,

Miguel Carrapatoso
Director
novobanco
Complaints Management
 
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