Euro Pacific bank is a scam

[stalker]

Am not the trustee, ask him!

the question was for Schlossfinanz, not for you

 

[danielboros]

Unless the trustee has applied a very high conversion fee, I can say I got all my money but around $ 300, which might cover the trustee's expenses and fees. We won't get ALL our money back, if this is what you wanna know

I remember that while I could check the monthly fees of EPB were always deducted so I am not sure when if they stopped. Clearly not providing service did not stop the fees from incurring so that might be the 300$. Maybe, but who knows.

 

[SCHLOSSFINANZ]

Its for sure the wire fee of the unqualified bank the Trustee chose...

 

[JoeOhNo]

What bank was the source of the wire?
Was it sent from Axos?

 

[Optout]

and what about the gold and metals?

On twitter/X today Peter says Gold was less than $1800 at time EPB was shut down. Today it is over $3200. He goes on to say "Thanks to corrupt government officials, bank customers have lost out on those gains"

 

[stalker]

On twitter/X today Peter says Gold was less than $1800 at time EPB was shut down. Today it is over $3200. He goes on to say "Thanks to corrupt government officials, bank customers have lost out on those gains"

i guess it's right and i wrote this some pages ago....and the same happened not only for the gold, but for other metals as well

 

[against the wind]

Thnx to PS Qenta run away with customers gold silver etc

 

[danielboros]

Thnx to PS Qenta run away with customers gold silver etc

Please at least wait for the end of the three month period before blaming anyone for something that has not happened yet (if possible).

 

[MikeDem]

Please at least wait for the end of the three month period before blaming anyone for something that has not happened yet (if possible).

Anyone opt-in has received any money or promising news?

 

[danielboros]

Anyone opt-in has received any money or promising news?

Unlikely since the list of Opt ins won't be final until the end of the 3 month claims period.

 

[Pschiff]

On twitter/X today Peter says Gold was less than $1800 at time EPB was shut down. Today it is over $3200. He goes on to say "Thanks to corrupt government officials, bank customers have lost out on those gains"

Yes, customers who owned gold, but who did not want to go ti Qenta, had to sell their gold so the bank could wire out their money. The gold was sold almost 3 years ago, but much of the proceeds only stated going out to customers last week. I only know this from this board. The Receiver never told me anything. For customers who opted to go with Qenta, their gold should still be there ready to be allocated to their accounts.

 

[Pschiff]

Opt-IN clients are FUCKED!

Unsecured money with Qenta that will NOT be returned.

Let´s face it: All the signs were already there. Schiff´s horrible signed 2022 deal where funds were not separated, Qenta vanishing AND – the worst part – with many million USDs in their possession, Qenta knows how to defend this if taken to court (passing money to new entity, money part of "business as usual transactions" etc etc etc).

Don’t believe me? Hire a PR lawyer.

If Qenta does not have the funds or metals, they can be sued. Qenta and their subsidiaries assumed all the liabilities for customers who did not opt out and whose funds or metal were transferred to Qenta. So unless the subsidiaries and Qenta file for bankruptcy, customers have a good lawsuit against Qenta. That, of course, assumes what is being speculated about Qenta is true. I have no information upon which to base an opinion either way. So hopefully all the money and metals are there. However, if Qenta does go bankrupt and there is not enough there to cover depositors claims, OCIF, the IRS, and the Trustee are all good targets for a lawsuit to recover those losses.

 

[against the wind]

Unlikely since the list of Opt ins won't be final until the end of the 3 month claims period.

The list is known for 3 years

 

[against the wind]

Yes, customers who owned gold, but who did not want to go ti Qenta, had to sell their gold so the bank could wire out their money. The gold was sold almost 3 years ago, but much of the proceeds only stated going out to customers last week. I only know this from this board. The Receiver never told me anything. For customers who opted to go with Qenta, their gold should still be there ready to be allocated to their accounts.

..... should....

 

[danielboros]

The list is known for 3 years

If an OPT OUT does not send in the paperwork in time they automatically become an OPT IN so what you say is not correct. The list will be finalized when all OPT INs have been identified which is still in progress.

 

[john8899]

However, if Qenta does go bankrupt and there is not enough there to cover depositors claims, OCIF, the IRS, and the Trustee are all good targets for a lawsuit to recover those losses.

How about the guy who set up the deal and sold the customers?

 

[SCHLOSSFINANZ]

you mean PS?

 

[Pschiff]

How about the guy who set up the deal and sold the customers?

There is no viable lawsuit against me. I didn't do anything wrong and neither did the bank. There are several bad actors with legal liability. But I'm not one of them. Also customers weren't sold. The bank sold assets to Qenta. Customers had to Opt In for Qenta to acquire them. That choice was necessary to avoid deposits that where not withdrawn in time from being forfeited to the Puerto Rican government.

 

[SCHLOSSFINANZ]

you forgot one important point. What DD you did in choosing Qenta? What mechanism you implemented in the Asset Deal Agreement to safeguard the client book you sold to them?

 

[Pschiff]

you forgot one important point. What DD you did in choosing Qenta? What mechanism you implemented in the Asset Deal Agreement to safeguard the client book you sold to them?

Due diligence was done prior to my decision to sell the bank to Qenta, as I was accepting mostly Qenta stock. But OCIF and the receiver had to approve the asset sale, which they did. Even if you claim the bank should not have given customers the choice of going with Qenta and you somehow win a lawsuit against the bank for providing that option, the bank has no assets. So a judgment against the bank is worthless. You can't get a judgment against me, as shareholders are not liable for corporate debts. The only way I could be liable would be if you could claw back fraudulent distributions made to me by the bank. Proving fraud is hard, but it's a moot point as the bank made no distributions to me. I contributed over $10 million in capital, with $7 million of that during the two years prior to the bank being illegally shut down by OCIF. I never withdrew one penny since the bank was formed, either in dividends or salary. So I am the biggest victim of this crime. Customers’ best legal strategy is to go after the perpetrators of the crime. They have real liability and assets you can legally go after.