Euro Pacific bank is a scam

[Radko]

The indemnification clause specifically includes attorney fees, but in the case of the bank its limited to $1.25 million, which was the purchase price. That should be enough. It should also cover extra hours billed by the receiver regarding the action.

I'd imagine that Brent has talked to his lawyer about what he's trying to do.

 

[Pschiff]

I'd imagine that Brent has talked to his lawyer about what he's trying to do.

Yes, but lawyers will always argue for their client, even when their client is wrong on the law. That's what they are paid to do.

 

[Radko]

Yes, but lawyers will always argue for their client, even when their client is wrong on the law. That's what they are paid to do.

I thought Qenta was just the temporary custodian of those assets, and customers were the legal owners, but obviously Brent seems to think that those assets belong to Qenta and he can sell them to profit from the appreciation in value during the last 3 years.

So the question is, who is the legal owner of those assets, Qenta or the Customers?

 

[Vqn]

I thought Qenta was just the temporary custodian of those assets, and customers were the legal owners, but obviously Brent seems to think that those assets belong to Qenta and he can sell them to profit from the appreciation in value during the last 3 years.

So the question is, who is the legal owner of those assets, Qenta or the Customers?

It is 100% the customers, it says so in the agreement signed.

 

[Pschiff]

I thought Qenta was just the temporary custodian of those assets, and customers were the legal owners, but obviously Brent seems to think that those assets belong to Qenta and he can sell them to profit from the appreciation in value during the last 3 years.

So the question is, who is the legal owner of those assets, Qenta or the Customers?

Well at this point it's the bank, as Qenta has terminated the purchase and requested the purchase price be refunded. But when Qenta bought the gold, they did so subject to the condition that the gold was a liability to customers, just as it was to the bank. Yes, the bank owned the gold, but that gold was owed to customers. I did not agree to sell Qenta $25 million worth of gold for just $1.25 million dollars. Qenta bought the right to custody that gold for Opt-in customers for $1.25 million. But it only paid $500K, and it wants that back, in addition to keeping all the appreciated value of the customers gold for itself. There is no legal or contractual basis for this unjust enrichment

 

[EPBVictim01]

Honestly people are so dirty… just thinking about their own Pocket. I think I’m also gonna lose a good amount because of the low GBP /USD rate in 2022 but I still will request the amount with the current exchange rate…

 

[SCHLOSSFINANZ]

I thought Qenta was just the temporary custodian of those assets, and customers were the legal owners, but obviously Brent seems to think that those assets belong to Qenta and he can sell them to profit from the appreciation in value during the last 3 years.

So the question is, who is the legal owner of those assets, Qenta or the Customers?

Qenta

 

[Martin Everson]

Lets be honest they probably bought EPB assets with any intention that all clients would be fully able to withdraw their assets the next day in entirety after completion of the deal. It makes no economic sense for them to have risk doing such a deal without having other things in mind to cover the risk . Just be grateful one sees their true colors now rather than later and that the deal is ending.

All in all it makes sense now why they went silent on Peter and clients for a long while. Judging by the other legal case the CEO was involved in it may not be a walk in the park to win. A guy got screwed over in technicalities in a bad faith dealings with him.

 

[Radko]

A guy got screwed over in technicalities

Qenta received Gold, Silver, and Mutual Funds, if they want to terminate the agreement, then the question is if they can sell those assets and return some of the proceeds obtained, or if they should return those assets as they were received back in 2022.

That's the technicality here...

 

[Martin Everson]

Qenta received Gold, Silver, and Mutual Funds, if they want to terminate the agreement, then the question is if they can sell those assets and return some of the proceeds obtained, or if they should return those assets as they were received back in 2022.

That's the technicality here...

I agree.

 

[Pschiff]

Qenta received Gold, Silver, and Mutual Funds, if they want to terminate the agreement, then the question is if they can sell those assets and return some of the proceeds obtained, or if they should return those assets as they were received back in 2022.

That's the technicality here...

There are only two legally permissible options. 1 Qenta returns the exact number of ounces of gold and silver it received, and the exact number of mutual fund shares. 2. Qenta sells the gold and silver at the current market price, liquidates the mutual funds at the current price, and returns all cash proceeds to the bank. There is no option 3 where Qenta sells the gold, silver and mutual funds, sends the bank the cash value of those assets as of three years ago, and keeps tens of millions in realized profits for itself on assets it never really owned, never paid for, and took no risk holding.

 

[danielboros]

There are only two legally permissible options. 1 Qenta returns the exact number of ounces of gold and silver it received, and the exact number of mutual fund shares. 2. Qenta sells the gold and silver at the current market price, liquidates the mutual funds at the current price, and returns all cash proceeds to the bank. There is no option 3 where Qenta sells the gold, silver and mutual funds, sends the bank the cash value of those assets as of three years ago, and keeps tens of millions in realized profits for itself on assets it never really owned, never paid for, and took no risk holding.

I wish someone with authority would say that. Like OCIF. Why can they hold press conferences to s**t on people but not for any other ocasion.

 

[SCHLOSSFINANZ]

they do their regulatory job. Compliance is important even in a banana republic.