Euro Pacific bank is a scam

[danielboros]

This is from the original liquidation plan. It was approved years ago. The 90-day period expired over two years ago.

When did OCIF send the approval notification?

 

[JoeOhNo]

Hmm strange thing, I asked Axos about possibility to open bank account with them as thye are doing KYC/AML on us anyway and they answered me this

"
Good day,



Our role is solely to ensure the secure delivery of your documents to the trustee.



If you have any questions regarding your case, please reach out to the trustee at: [email protected].



You may also review the website which has additional information https://epbprliquidation.com/.



Thank you!"

Like there is no account for EPB case in Axos... Hmmm.... Will try to clarify it with them.

 

[Guess]

I have sent an email to the trustee with questions about providing the documents.
There has been NO response at all.

The two main questions are:
1) With KYC and 'Proof of Address' documents, do they need to be translated to 'English'?

2) What is 'Bank Statement Available', is it a Bank statement from my domicile bank, or from Euro Pacific Intl Bank Inc?

Can someone here help to clarify this please?

 

[SCHLOSSFINANZ]

1) of course they have to be translated in english. From a certified translator. This is common practice, so better do it from the beginning

2) I guess both EPB and your refund account, to make sure its in your name

 

[Marie Manila]

1) With KYC and 'Proof of Address' documents, do they need to be translated to 'English'?

In the bank insolvencies I have personally experienced so far, it has never been necessary. It was sufficient if the documents were in Latin letters.
But yeah, it can be different.

 

[EPBVictim01]

Majority of you think we will receive a wire not a Cheque right ?

 

[spiderman]

Cheques are obsolete in some countries already, the receiver can't rely on that.

 

[Sols]

Do you guys think we will receive a wire transfer or a Cheque?

It's normally a wire transfer in these cases.

 

[Pschiff]

Cheques are obsolete in some countries already, the receiver can't rely on that.

When the receiver initially wanted to move the funds form Novo to the bank in California, a move which I opposed, his plan was to mail out checks to all Opt outs. I told him that was a bad idea as many customers would not have a way to deposit U.S. dollar denominated checks. Hopefully he has reconsidered and will do bank wires, but I have no idea what his current plan is. Mailing checks individually to each customer and waiting for them to clear is a much slower process. Given what's happened so far, I would not be surprised if that's the reason the receiver opts for checks.

 

[Lemon]

When the receiver initially wanted to move the funds form Novo to the bank in California, a move which I opposed, his plan was to mail out checks to all Opt outs. I told him that was a bad idea as many customers would not have a way to deposit U.S. dollar denominated checks. Hopefully he has reconsidered and will do bank wires, but I have no idea what his current plan is. Mailing checks individually to each customer and waiting for them to clear is a much slower process. Given what's happened so far, I would not be surprised if that's the reason the receiver opts for checks.

this cannot be the case.... Last time he asked for bank info for the bank to wire the money

 

[GF150]

Some of us did, with no response

That is certainly true, as long as very few people are involved. What if the Trustee received one thousand e-mails reading, e.g.
"Watch out, OUR money may be at risk. We demand funds segregation" ? If our funds are lost (or a significant part thereof)
and we end up in a lawsuit, Lugo cannot say "I didn't know that". That was my meaning.

 

[danielboros]

If you are concerned of OPT INs then Lugo has no involvement with them legally or otherwise so they are not going to care what happens with their cash.

 

[JoeOhNo]

If you are concerned of OPT INs then Lugo has no involvement with them legally or otherwise so they are not going to care what happens with their cash.

From a legal point of view U are very wrong

 

[Martin Everson]

What if the Trustee received one thousand e-mails reading, e.g.
"Watch out, OUR money may be at risk. We demand funds segregation" ? If our funds are lost (or a significant part thereof)
and we end up in a lawsuit, Lugo cannot say "I didn't know that". That was my meaning.

You would be helping him get richer by increasing his billable workload if he reads them and decides to respond to each email.

 

[danielboros]

From a legal point of view U are very wrong

Happy to be wrong, but their statements seemed to suggest that they are not involved in any capavity with OPT IN.

 

[Pschiff]

If you are concerned of OPT INs then Lugo has no involvement with them legally or otherwise so they are not going to care what happens with their cash.

Once all the funds and metals that belong to Opt In's are transferred to Qenta, the Receiver has no more responsibly to those customers. He is only responsible for returning funds to Opt Out customers. Qenta is responsible for returning funds to Opt In customers. So Opt In customers must direct their questions and complaints to Qenta.

 

[Vqn]

Once all the funds and metals that belong to Opt In's are transferred to Qenta, the Receiver has no more responsibly to those customers. He is only responsible for returning funds to Opt Out customers. Qenta is responsible for returning funds to Opt In customers. So Opt In customers must direct their questions and complaints to Qenta.

Does this mean that Qenta now holds all opt-ins funds and metal?
Why don’t the open the access for opt-ins?

 

[danielboros]

Because OCIF has to approve first

 

[Radko]

Once all the funds and metals that belong to Opt In's are transferred to Qenta, the Receiver has no more responsibly to those customers. He is only responsible for returning funds to Opt Out customers. Qenta is responsible for returning funds to Opt In customers. So Opt In customers must direct their questions and complaints to Qenta.

I assume Qenta must have the Mutual funds, the Metals, and the Cash that belong to Opt-in customers.

And I assume the Cash is somewhere safe, but time will tell.

It's concerning that Brent De Jong hasn't answered your email.

 

[Pschiff]

What do you think OCIF needs to approve regarding Qenta after it receives all the cash and metals that belong to the Opt Ins? OCIF already approved the transfer of those liabilities to Qenta. Once they transfer I don't see what role OCIF would play.