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Euro Pacific bank is a scam

Well, from what can be googled its another Qenta company that was closed. Why?
I guess we all google a lot.
this Emergent technology Holdings was described as the parent Cy of Qenta in one of the sites.
This after it merged with Qenta I think late 2022. And it was closed. I guess recently, end 2024?
Same Mr De Jongh.
Closed as no more usefull or broke? Legally or illegal stuff? Nobody knows?
So is Qenta itself still operating ? I saw this small deal with trust stamp early this month. And on 17JAN 25 a deal with Woo Commerce for Qenta payment use.
Is the famous G-coin still in operation? It is a real shame there is no information from Qentq, the Trustee or even PS.
 
It means Qenta Inc. used to be called Emergent Technology & Payments Inc. and somebody is using its name change to spread even more FUD. You can verify this fact on the Delaware corporate register, Qenta Inc. has file number 6227324.
Correct, it was a name change. When I first did the deal to sell the bank it was to Emergent Technologies. While we were waiting for OCIF to give final approval for the sale, the company changed its name to Qenta. I think it bought a company called Qenta, and decided to use that name instead.
 
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4 things:

1) Peter Schiff is an a-hole. Now long gone from this forum after critical questions were presented!

2) Peter Schiff has given wrong info on numerous occasions! Dont trust the guy! Some people pointed this out earlier here using concrete verificable info.

3) The receiver has USD 47 mll (latest report) which is roughly what is owed to Opt-out

4) Who are FUCKED are OPT-IN clients who trusted this garbage company Qenta. Do a check

on Linkedin! half of the people they claim are management on the Qenta page dont work there, never worked there or work for other companies that maybe have the same beneficiary owners! Has anyone bothered to visit any of the Qenta offices and/or looked into this? NOT GOOD NEWS. Some of the offices dont exists etc...TONS OF RED FLAGS
I didn't get any emails so haven't visited this forum in a while. I had no idea so many new posts where here. I get very little irnformation for either the receiver or Qenta. I have tried, but to no success. That in and of itself is disturbing. It's completely out of my control. All I have now is my lawsuit. My recommendation is that the customers file their own lawsuit as a class against OCIF and the IRS.
 
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I used to be a listener of PS on his interviews and podcasts. I truly believed on his bank. I tried to get my money out but it was too late, it was blocked.
I feel like that I got lured onto believing Qenta (opt-in) was the best option to get my money quicker, but after reading 122 pages on this thread my hopes are lower and lower.

The last time I contacted Qenta was 13th November 2024 and they replied me saying they are also waiting for the receiver's work to be completed.
The last time I contacted the trustee for EPB liquidation was 13th December 2024 and they directed me to Qenta, no good answers.

On the portal "El Nuevo Dia" says clients from the liquidating banks like Euro Pacific Bank (EPB) and Bancrédito International Bank & Trust started to receive their money back in April 2023 (https://www.elnuevodia.com/negocios...n-bancos-internacionales-recuperan-su-dinero/).
Apparently only the Bancrédito clients had because as I see, no one from EPB had go a single cent back.
I'm sorry this happened to you. But EPB was a good bank. It was going to get a lot better too with the deal we had with American Express and upgrading our account with the Fed to online. But then the IRS and the media destroyed the bank. You can read my lawsuit on www.9fraud.com.
 
This will be my last message for the foreseeable future:

Noone says Qenta is a scam as the company exists and is seemingly operating.
But let´s face it:
  • Numerous key players have confirmed that the delay now is because of Qenta and funds at Qenta are NOT segregated. Why would they be? It is not standard for banks/financial institutions to segregate funds AND no one demanded it! Not a single opt-in customers thought about this. They just thought “I am going to be an opt-in and I will be paid back quicker”. Zero due diligence / concerns about counterparty risk.
  • Qenta: . A company barely with any products when the liquidation started (its first product came in 2021 as they say on the webpage). Hence a start-up
  • Qenta: Does digital products and opens tons of offices globally. Imagine how much cash that burns AND (like bitcoin, say) anything digital is just high high high risk / speculative
  • Add to that the numerous other red flags rgd. Qenta pointed out by smart people in this forum. And notice that the receiver WILL point you to Qenta IF you are and opt-in. People have been seperated long time ago!
  • Peter Schiff now vanished and is unlikely to return to this forum. He was the creator of this opt-in concept that never made any sense. His only comment (from last week) was that Qenta was good for people “without a bank account” (makes no sense: I bet that all customers had a secondary account besides EPB – as long as same beneficial owner it is OK, look at other liquidations) and that otherwise OCIF would “take the funds” (makes no sense either, as was pointed out this would take at least a few years). Schiff makes many inaccurate statements that sound good “in a sales context” but are actually very flawed! Just like the comment that the receiver "is incompetent as he does not have any banking experience" (also wrong as not relevant. You dont need a particular industry experience to be a liquidator) or that the receiver "should have looked at potential EPB buyers" (also wrong, not a liquidators job)
  • You guys remember the charming sales pitch Qenta did in autumn 2022 to everyone? Compare that to now where you won’t get an answer from Qenta! - the so-called “highly qualified buyer” as Schiff, the Qenta shareholder, always states.
Something truly smells bad- but reach out to the stakeholders if you don’t believe me!
I have not been on the site in a few weeks, so I missed all of the new post. I have sent a few emails to Qetna to try to look into these rumors. So far I have not received an answer, which is concerning.
 
Let’s assume PS will win his private lawsuit and get 56MM. He advised us to file other lawsuit right after and we will get all the funds back about 60MM and it is happy end.

I cannot believe this one, not even in my wildest dreams. It just will never happen.

The little island of Puerto Rico will not exist anymore.
You need to sue the IRS as well. That's the deep pocket.
 
exactly, it was a political decision to increase the hurdles so high from OCIF and the current government.
There were too many scandals and non-compliance like EPB and others.

Even the annual fees of 25,000 USD are crazy.

https://www.mcvpr.com/newsroom-publications-IBE-IFE-Reform
EPB was compliant. The Commissioner lied about that to justify her actions, which was done at the request of the IRS on behalf of the J5 as a publicity stunt. They wanted to frame the bank for tax evasion and money laundering, then take credit for shutting it down.
 
The opt-in clients are in a much worse position than opt-out clients. Qenta is in financial trouble and the receiver made sure to cover himself in the following way:

  • Opt-in clients had to confirm to be with Qenta
  • No client could change afterwards
Opt-out clients gambled: Quicker expected “due diligence” (as the money was transferred to 1 entity Qenta) BUT with a massive counterparty risk (a financial company with risky activity: Qenta)

Qenta didn’t separate client asset (it was amalgamated) from their general assets/activity and industry rumor is that Qenta will not survive. Qenta was not legally obliged to separate.

Look no further to the following facts:

  • None of you will be able to get meaningful message out of Qenta. Try to reach out to their leadership team!
  • Senior management has been leaving Qenta recently, including Mariame McIntosh (President) https://www.linkedin.com/in/mariame-mcintosh-robinson-957213/. Others like their Chief Compliance officer doesn’t even list Qenta as where he works!
  • What James pointed out above
The receiver is covered. He is only responsible for opt-out clients and Qenta for opt-in. He has this signed and he is backed up by OCIF.

The % recovery of funds will be much much much lower for opt-in clients than for opt-out clients. Probably 0-15% vs. 80-95% !

And Peter will be very quiet now in this forum! as he knows all this, and he was the mastermind behind this highly unorthodox “opt-in / opt-out setup” recommending his pals at Qenta where he was a shareholder!
Neither OCIF or the receiver are covered. The was no reason to put the bank into receivership. They should have allowed Qenta to contributed the $8 million in capital in 2022 and buy the bank. The bank would have had over 10 million in capital, and all accounts would have been fine. Also, had they not held that fraudulent press conference or issued fraudulent press releases, Novo never would have frozen the bank's account. So all Opt out funds would have been wired out in 2022, and all opt-in accounts would have been segregated at Qenta and available to be withdrawn.
 
Do you literally mean some of the client funds who opted out still got sent to Qenta?

How did this happen?

Which Qenta entity and jurisdiction holds legally the clients funds?
Qenta got all the gold that was stored in Silver Bullion (We had to move it from Perth) plus all the U.S. dollars that were in the bank's IB account. We moved them there when the bank lost its Fed account. That was the result of the bad publicity following the illegal leak of the Atlantis Investigation, that ultimately exonerated the bank.
 
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1) EPB tapped regulatory capital (evidence in OCIF resolution)
2) Qenta was not-fit-and proper (look at 9fraud.com a site from PS apparently) where OCIF wrote to PS lawyers that Qenta was not disclosing needed information and tried to hide business dealings in Bosnia Herzegovina (FATF grey listed) and Syria (FATF black listed)
The Commissioner lied. She had to make stuff up to justify her action. She had a secret deal with the IRS to reject the sale, so they could close the bank as a PR stunt for the J5.
 
It gives the impression that Peter Schiff puts his own interests before those of his 'former' customers?
I did all I could for the former customers. I added $7 million in capital in 2021 to protect customers and lost every penny. Corrupt government officials conspired to shut down the bank. I had no control Be made at the IRS, the HMRC, the ATO, the OCIF Commissioner, the Receiver. They did this. I did all that I could to prevent it.
 
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Peter Schiff is probably so well known among people who are critical of the existing monetary system because he criticizes it very frequently, articulately, emphatically and with great reach. For many of them, it was therefore not a far cry when he founded his EPB.

But his lawsuit against the IRS/J5 and others is not about him as a former owner. Instead, he explicitly appears here (https://9fraud.com/civil-rights-claim/ , page. 30) as a 'shareholder and owner for his personal loss'. It also says: 'this claim does not relate to any damage suffered by Euro Pacific Bank, but only to that damage suffered by Mr. Schiff personally'.

So if any ex-customers of EPB have personal expectations and hopes attached to this claim: this is in no way about them! Mr. Schiff is only concerned with himself. And only about one thing: money! A lot of money!

If, against this background, the suicide of a former EPB customer is invoked in the statement of claim to support the conspiracy narrative, I frankly consider this to be tasteless.
The reason that I am suing personally is that the bank released OCIF from liability. So the bank can't sue. Only I am allowed to sue, and only for my personal losses. OCIF is trying to use that release to have my lawsuit dismissed. I am not really suing over the money. I am suing to get the truth to come out. I think customers have an excellent lawsuit. I really wish they would file one.
 
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Pardon? Qenta was introduced and vetted by PS. PS wanted to sell EPB to Qenta. When that failed because Qenta was not deemed fit and proper by OCIF he agreed to asset deal to Qenta. The liquidator had ZERO to do with that.
The liquidator is not resposible for the Qenta fiasco at all
Qenta was not deemed to be unfit or improper. The IRS intervened to block the sale. They wanted the bank shut down to use it as a PR stunt for the J5. I arranged for Qenta to take the accounts of the Opt ins, as OCIF was going to seize any funds that were not returned to customers. So I wanted to make sure customers had a better option. Also, there were other PR banks that wanted the accounts, but the OCIF Commissioner refused to allow any other PR bank to take them. What screwed it up was the Novo freeze, which was a result of the IRS and J5 falsely accusing the bank of being shut down for money laundering and tax evasion.
 
I guess the client book?
They agreed to pay 1.25 million for the assets of the bank. They paid $500K up front. I have been informed by Qenta that they will not pay the balance, as they claim the delay in the liquidation cost them more than that in extra expenses.
 
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