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UBIK

New member
Hopefully EPB's slow payment processing will work in your favor. Hopefully they have at least taken action to freeze the account immediately awaiting further communication from you.

I have never heard of Sinclair Upton Capital Management. Is it this Chinese looking company below? How well do you know the company?

Could be just a clever conduit to steal funds conf/(%


yes this is the correct SUCM website. They are definitely not reliable advisor.
 

Edge

Active Member
Do EPB have a backup plan for when Novo Banco eventually dumps them? Or will they be sending non USD payments by courier pigeon to other banks.

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Not my problem anymore smi(&%
 

permabear

New member
Do EPB have a backup plan for when Novo Banco eventually dumps them? Or will they be sending non USD payments by courier pigeon to other banks.
Novo Banco is majority owned by Lone Star Funds (PE outfit) who have quite a high risk appetite so they may continue to run with EPB for some time. I find it fascinating and hilarious in equal measure that EPB's USD correspondent bank is the New York Fed, surely that's like the headmaster making the naughtiest kid in school do homework in his office. They must be under surveillance and audit...I've used EPB for a while (USD and EUR but never huge amounts) and can confirm they're still breathing, although USD wire delays in particularly are beyond painful.
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
They must be under surveillance and audit.

You hit nail on head. US Government can watch you for literally years before they pull trigger. They do this quite often in RICO operation...no pun intended smi(&%.

although USD wire delays in particularly are beyond painful.

Why would there be delays with US wire's? :( They have direct Fedwire clearing unless they are being extra cautious with those wires. Not being funny but how many shell company wires can the Fed allow through from one little offshore bank. The bank is purely being used for tax evasion and other criminal activity as has been discovered.

P.S Peter walking out of his own living room and hiding during a zoom call with 60 minutes still makes me laugh. Me personally I would have just closed the laptop :confused:.
 

permabear

New member
You hit nail on head. US Government can watch you for literally years before they pull trigger. They do this quite often in RICO operation...no pun intended smi(&%.



Why would there be delays with US wire's? :( They have direct Fedwire clearing unless they are being extra cautious with those wires. Not being funny but how many shell company wires can the Fed allow through from one little offshore bank. The bank is purely being used for tax evasion and other criminal activity as has been discovered.

P.S Peter walking out of his own living room and hiding during a zoom call with 60 minutes still makes me laugh. Me personally I would have just closed the laptop :confused:.
They do indeed have direct Fedwire clearing but they're now obligated to be forensically anal about every single wire (even the tiddlers) hence the delays. Ironically, their KYC and DD in the last 6 months is now one of the strictest I have ever witnessed, it's bananas.

I'm still on the fence about Peter, if one listens to his podcast (my guilty pleasure sometimes) it's difficult to argue with much of what he thinks about the Fed, debt monetisation and the ever-worsening US trade & budget deficits. But on the other hand, there's a whiff of Allen Stanford about him hence I've always kept my EPB balances fairly modest...
 

Martin Everson

Offshore Retiree
Staff member
Mentor Group Gold
Elite Member
Ironically, their KYC and DD in the last 6 months is now one of the strictest I have ever witnessed, it's bananas.

Must be because of all the attention they generated. They will know all eyes on on them now. Problem is they need to offload the clients that are shell companies to even appear credible to other correspondence banks. When 90% of their wires are coming from Seychelles and BVI companies etc correspondence banks panic and even the US Fed must do also. Every bank even Fed has international obligations to prevent money laundering.

I'm still on the fence about Peter, if one listens to his podcast (my guilty pleasure sometimes) it's difficult to argue with much of what he thinks about the Fed, debt monetisation and the ever-worsening US trade & budget deficits.

Peter talks great and his arguments are decent. But he is a charlatan I am afraid.

But on the other hand, there's a whiff of Allen Stanford about him hence I've always kept my EPB balances fairly modest...

Glad I am not the only one that sees that.

According to their own 2017 paperwork EPB had 13,000 customer and $168,000,000 in deposits. That's a rough average of $13,000 a customer. So clearly people don't choose to keep money with EPB. Probably choosing to just pass it through their shell companies and on to proper banks.

 

Mark Rucken

Entrepreneur
I can also confirm that USD wires with EPB are working, a bit delayed, but still working. This bank has been burried soooo many times, but a cat's got 9 lives.

P.S. it takes around 7 days to make a USD wire, but I ain't complaining ... for now.
 

Cetme308win

Entrepreneur
They do indeed have direct Fedwire clearing but they're now obligated to be forensically anal about every single wire (even the tiddlers) hence the delays. Ironically, their KYC and DD in the last 6 months is now one of the strictest I have ever witnessed, it's bananas.

I'm still on the fence about Peter, if one listens to his podcast (my guilty pleasure sometimes) it's difficult to argue with much of what he thinks about the Fed, debt monetisation and the ever-worsening US trade & budget deficits. But on the other hand, there's a whiff of Allen Stanford about him hence I've always kept my EPB balances fairly modest...
recently I received an email about an ongoing DD case going on and no way of accessing to my account because I am having my phone repaired so I tried to arrange a call during 2 following days and I am already waiting for their call lol
 
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