Euro Pacific bank is a scam

[ap31]

Andrew,
That is exactly the first step we need to take, leaving room for escalation. If the Receiver starts receiving claims and letter like yours from the OPT-INs, he will know we are making him responsible, and it is more likely that he stops Qenta.

If you shared the letter we could use it, if not directly, as a template for ours. That will not only save us time (of the essence, now) but will tell the Receiver we are coordinating efforts and are aiming for further action. Thanks!

Did you receive an answer for your request? I would also be interested to get a template to work with...plus I would like to get the appropriate emails to send to.

 

[Andrew Cobb]

Andrew,
That is exactly the first step we need to take, leaving room for escalation. If the Receiver starts receiving claims and letter like yours from the OPT-INs, he will know we are making him responsible, and it is more likely that he stops Qenta.

If you shared the letter we could use it, if not directly, as a template for ours. That will not only save us time (of the essence, now) but will tell the Receiver we are coordinating efforts and are aiming for further action. Thanks!

Hello DJohnson, There is not letter, I send the Receiver an email and CC'd OCFI. Please note I sent this email before seeing the Termination of Purchase Agreement letter which Peter has posted to this forum.

Below is the email I sent with a few minor changes (mostly spelling):

To: [email protected] , [email protected]

Hello Jose + Wigberto,

I have been informed that Qenta is demanding $5M from customers as part of the purchase agreement termination. This is outragous and you have a fiduciary responsibility to customers to refuse this $5m fee. The only funds Qents can claim is the $500k they paid as per the purchase agreement.

You must demand the return of all the assets being Gold + Silver, Stocks and Cash with interest. The assets in Qenta's control have appreciated and that appreciation belongs to customers who took the risk by staying invested this whole time! If the assets had depreciated, there is no way Qenta would make up the shortfall...they would make customers eat that loss.

Action needs to be taken ASAP to freeze and claw back all Opt-in customer assets in Qenta's control to prevent them from stealing the assets! I believe Qenta is in trouble financially give their behaviour and Houston head office closure/abandonment. You must act to protect customers!

Do you need anything from me or other customers to act to stop Qenta?

Please tell me what you are doing about this clear attempt at unjustly enrichment by Qenta. You need to act fast to stop Qenta and protect customers! OCFI is responsible for this mess, please act and stop Qenta now!

Regards,

Andrew Cobb

The Receiver responded:

Sir, notwithstanding the messages and instructions regarding this liquidation process your demand for information and action seems to follow the different group chats discussion running in the web that you may be participating. Be advised that the recent developments in this case are being reviewed by the bank’s legal advisors and I await for their recommendations on the legal strategy to be adopted to move forward with this request by the acquiring team. If there is a change or modification on the liquidation process instructions that remains in process customers will be notified through the liquidation portal.

On the other hand and on the particular details of your claim, meaning precious metals deposited in a subsidiary which is not part of the liquidation process undertaken by the undersigned, you may want to seek legal representation to entertain those matters affecting your claim.

Finally, I request that all further communications regarding your account be remitted through this electronic email address.

Regards,

Trustee

 

[Pschiff]

Did you receive an answer to this question?, because this is almost exactly my situation as well. And neither do I know what to do at this moment of time.

I don't know but you should claim the quantity of metals that you own. You should list the value at current prices.

 

[spiderman]

Are opt-out customers at all affected by these latest developments regarding pull-out of the Qenta swindlers?

 

[Pschiff]

Are opt-out customers at all affected by these latest developments regarding pull-out of the Qenta swindlers?

It's hard to say and it depends on how the receiver handles it. If he does his job correctly, it should not take long to force Qenta to return all of the bank's assets. But it will likely delay the return of all customer funds some what, as he will have a lot more customers to return funds to. But based on experience it will likely take far longer than it should. But based on Qenta holding $19 million in cash (not counting about $58 million in metals and mutual funds) my guess is that Qenta holds some Opt-Out customer's funds too. So they will likely get back more of their deposits, even if they receive them a bit later.

 

[Mario68]

Hi, I was also an opt-in customer, basically have just a little cash and silver and don´t know if -as ap31 and Marie Manila- I have to submit the opt-out forms, as Receiver hasn´t said a word regarding opt-in customers. not even now that Qenta sent the "termination" mail. I´d sent him a mail in May22th asking for information about the liquidation process (in Spanish, as it´s my native language -and pressume the Receiver´s- and thought I could be completely clear about my worries), but just received a mail dated July1, in which he asked me to send documents that prove I´m a real customer, before they contact me. I will highly appreciate if Mr. Schiff or other Opt-In customers could give us any idea, whether we should send those documents right away or wait for the Receiver´s instructions. Thanks in advance for your help.

 

[Pschiff]

Can't you on behalf of the clients get a court interdict to prevent the Receiver from allowing Qenta to sell the assets?

I tried to get a restraining order to prevent just that in federal court in Puerto Rico. The judge denied the request for a TRO claiming lack of jurisdiction over Qenta. I think the judge was wrong, as I was not asking her to restrain Qenta from receiving the bank's assets, but the receiver from giving those assets away to Qenta, in violation of his duty to safeguard those assets to satisfy liabilities to creditors.

 

[Pschiff]

FYI, both the receive and Qenta have independently threatened to sue me for statements I've made on this forum. Both have claimed my posts are false and defamatory. I have asked for specific examples. So far none have been provided. If it turns out that any of my past posts contain false or inaccurate statements or information, I will of course correct them.

 

[Martin Everson]

@Pschiff I did warn you early on about certain statements aimed at receiver a while back. They all watch this forum including including certain large organizations as it ranks very high on google on certain topics.


UPDATE

Hummm....I can't seem to find it or maybe I am imaging it all but I do remember warning people not to attack the receiver as it was not helpful. If anyone finds it please post link. Otherwise I could just be simply wrong .

P.S I can't look through the 180+ pages right now.