Euro Pacific bank is a scam

[TB2Pod3]

I’m new to this forum but have been trying to follow this thread. My mother is trying to complete the OCIF Claim Form on behalf of my late father who passed away in November 2023. He had elected to be an Opt-In. It was confirmed by EPB in January 2024 that he was on the Opt-In/Cash-Out list. In November 2024 my mother was informed that his accounts would be transferred to the Opt-Out list. We have no idea why.

We are trying to ascertain whether his securities were sold at this time and the proceeds transferred to the Receiver. Without this information my mother is unable to complete the Claim Form. We are unable to get an answer from EPB, Qenta or the Trustee. My mother is the co-account holder but the account was in my late father’s name. Any ideas?

 

[against the wind]

There is no viable lawsuit against me. I didn't do anything wrong and neither did the bank. There are several bad actors with legal liability. But I'm not one of them. Also customers weren't sold. The bank sold assets to Qenta. Customers had to Opt In for Qenta to acquire them. That choice was necessary to avoid deposits that where not withdrawn in time from being forfeited to the Puerto Rican government.

You (the bank) pretented customers would be better off with opt in. That seems enough ground for a lawsuit if turns out you pushed your good customer to a fraudelous company

 

[Pschiff]

You (the bank) pretented customers would be better off with opt in. That seems enough ground for a lawsuit if turns out you pushed your good customer to a fraudelous company

The bank didn't pretend anything. The bank did not make a recommendation either way. It just presented the alternatives without making any recommendations. Neither the bank nor I had anything to gain by customers choosing to go with Qenta. So the option was provided purely as a curtsy to customers. The added benefit of $1.25 million in capital to further protect customers was not conditioned on any number opting in to go to Qenta. But even if the bank had encouraged customers to go to Qenta, that does not make the bank liable for torts committed by Qenta after the transfer, as there were no red flags the bank ignored. But even if that was not the case, the bank has no assets. So there is no point in suing it. Plaintiffs would just lose even more money on legal fees. As a shareholder, I have no personal liability for corporate debts.

 

[against the wind]

The bank didn't pretend anything. The bank did not make a recommendation either way. It just presented the alternatives without making any recommendations. Neither the bank nor I had anything to gain by customers choosing to go with Qenta. So the option was provided purely as a curtsy to customers. The added benefit of $1.25 million in capital to further protect customers was not conditioned on any number opting in to go to Qenta. But even if the bank had encouraged customers to go to Qenta, that does not make the bank liable for torts committed by Qenta after the transfer, as there were no red flags the bank ignored. But even if that was not the case, the bank has no assets. So there is no point in suing it. Plaintiffs would just lose even more money on legal fees. As a shareholder, I have no personal liability for corporate debts.

you still are saying publicly MY BANK, you are in lawsuits against OCIF etc...because it was your bank.
you clearly made mistakes that brought the customers into this situation. you even never said sorry!!
I am sure there can be a case made against you

 

[against the wind]

quote mssge EPB aug 29 2022 +++++++++We write to inform you that, although Euro Pacific Bank is now in liquidation pursuant to a Consent Order for Liquidation and Dissolution of International Financial Entity entered into with the Puerto Rico Office of the Commissioner of Financial Institutions (“OCIF”), we can now provide you with a positive update on an easy path forward++++
and more +++++Once your funds are transferred, they will be immediately available to spend or withdraw. If the acquiring financial institution does not meet your needs, you can transfer your balance to an alternative financial institution.+++++++++ and also more nice words about Qenta incl the experienced staff and so on on

 

[against the wind]

so after seeing the funds suddenly blocked, the outlook presented by your bank to an easy path forward, to an experienced staff cy, to immediately be able to withdraw your funds ..well that is pushing your customer towards Opt IN. certainly if the Opt Out option runs thru the Trustee, a certainty of long slow process;

 

[stalker]

the question is were the metals held in individually allocated accounts or were they part of the bank’s general assets?

 

[SCHLOSSFINANZ]

there is no individual allocated accounts when it comes to metals. PS chose the cheapest option LOL.
Means one omnibus account for all.

 

[stalker]

there is no individual allocated accounts when it comes to metals. PS chose the cheapest option LOL.
Means one omnibus account for all.

in such case every customer even the cash only (like me) should benefit of the sale of the metals

 

[SCHLOSSFINANZ]

you misunderstood. Because if there is no individual account in case of liquidation the trustee doesn't know what belongs to whom.
I guess they were be sold years ago at sadly much lower then actual market price

 

[stalker]

you misunderstood. Because if there is no individual account in case of liquidation the trustee doesn't know what belongs to whom.
I guess they were be sold years ago at sadly much lower then actual market price

i'm saying the same thing...you don't know if and where the metals are sold so this is pointless

 

[against the wind]

you misunderstood. Because if there is no individual account in case of liquidation the trustee doesn't know what belongs to whom.
I guess they were be sold years ago at sadly much lower then actual market price

here i think you are wrong. due to the fact PS sold his bank to Qenta, each opt-in customer handed over his metal to qenta. not to the trustee. in theory the metal should still be somewhere. most likely it is gone. One of the biggest thefts of the century I guess.

 

[danielboros]

I’m new to this forum but have been trying to follow this thread. My mother is trying to complete the OCIF Claim Form on behalf of my late father who passed away in November 2023. He had elected to be an Opt-In. It was confirmed by EPB in January 2024 that he was on the Opt-In/Cash-Out list. In November 2024 my mother was informed that his accounts would be transferred to the Opt-Out list. We have no idea why.

We are trying to ascertain whether his securities were sold at this time and the proceeds transferred to the Receiver. Without this information my mother is unable to complete the Claim Form. We are unable to get an answer from EPB, Qenta or the Trustee. My mother is the co-account holder but the account was in my late father’s name. Any ideas?

There are no forms for OPT INs. Who would you even send them to if there were? OPT IN means you go to Quenta. OPT OUT is the cash out option.
If you are OPT OUT then the trustee will talk to you as long as you send them the requested documentation before the deadline.

I got this from [email protected] last month

Thank you for your communication. Notwithstanding, for us to reply appropriately, please submit your proof of claim with all supporting documents as required in the notice. Before communicating with you, we need to validate that you are the real party in interest in charge of the subject account.



For reference, the following documents are available on the portal: https://epbprliquidation.com/legal-documents/

• EPB Liquidation Document Request Instructions

• OCIF Carta Circular and Notice of Liquidation

Form A Proof of Claim

• Compliance Requirements Forms



To maintain confidentiality and security, please ensure that all submissions are sent via secure email to [email protected]. For case-related inquiries, please contact [email protected]



Kind Regards,

EPIB Trustee

 

[john8899]

As a shareholder, I have no personal liability for corporate debts.

Yes, you're a shareholder, but not only. You were also an inside director with close access to the opreations of the bank and management. In fact, didn't you post multiple emails from employees emailing and talking with you directly about operations of the bank? I myself am a shareholder of Walmart and I am still hoping employees will email me about problems and operations of the buiness!

Neither the bank nor I had anything to gain by customers choosing to go with Qenta. So the option was provided purely as a curtsy to customers.

Who knows how the deal was set up? Maybe there was a separate agreement between Qenta and you that gave you some benefit. What was a courtesey to customers has now became a complete nightmare, rather than losing a small percentage of returned funds, now they face the complete possiblity of everything going to zero, the Schiff bust.. Even the idea that the deal was set up for customers without a bank account never made sense. EPB was an online bank, so customers will have to have a bank account somewhere to transfer their money into EPB accounts. Surely they did not carry their cash to Puerto Rico, take a taxi to the bank's registered office and hand the cash to Mark Anderson?