This is an interesting point. Could've placed EPB in Miami and it still would've been non-CRS. At the time, FATCA reciprocity was basically non-existent.
Again, if I opened the bank in Miami it would have been much too expensive to be a 100% reserve bank, especially having to pay for FDIC insurance that I did not need. Also, there are lots of banks in Fla. and other U.S. states that Euro Pacific Bank customers could have opened accounts with. But they choose not to. I offered a different type of bank that was not available in U.S. states. What governments did to my bank was unprecedented. I did not anticipate this happening. I lost over $10 million myself as a result. Clearly I never would have stated this bank had I foreseen this outcome. Customers would not have jumped thought all the extra compliance hoops to open accounts had they foreseen it either.
Hello Peter, You must have missed my earlier reply, so I will ask again
When did you last spoke to Qenta and can you tell me who you are in contact with? Can you elaborate on when 'soon' will be? Is it a few days or weeks? They have all my money and I am very concerned. Thank youIf by accountable you mean legally personally liable for their losses, you are wrong. If bank shareholders where personally liable for any losses suffered by customers there would be no banks. If directors where also personally liable to bank customers there would be no directors, which would also mean no banks. There is no bank in the world where you can lose money then go after shareholders for your losses. The only way is if shareholders illegally divert bank assets, including customer deposits, to themselves. But since I started the bank in 2011, I never once took any money out of the bank. The bank never paid me a dividend, I never took a salary, as I was neither an officer nor an employee, and as a director I was unpaid. So no one can accuse me of diverting bank assets to myself. In fact, when the bank got into trouble based on the false allegations made by the media on behalf of the J5, not only did I not take any money out of the bank, but I put another $7 million into the bank to protect customers. I could have just walked away and cut my losses. But I chose not to.
I am pretty sure he is not returning his call. Makes me wonder what safeguards PS put in place regarding the transfer of the client book to Quenta...
Yes, all of those questions were asked as a result of the bank's extra strict KYC and AML. That is why its so outrageous that the J5 and the media worked together to shut the bank down for money laundering and tax evasion, when there was likely less of that going on at my bank than at any other offshore bank in the world. We needed to be extra strict to continue offering the services we offered, and the additional services we were planning to offer in the future. Do you think I liked spending millions per year on compliance? It would have been much easier and cheaper for me to just send out money no-questions asked. If customers didn't think having an account at Euro Pacific Bank was worth the extra hassle they could have close their accounts. In fact, many did for that reason. Why do you think not a single one of the bank's 500 UK customers that Simon York claimed used the bank to commit tax evasion or money laundering was ever charged, let alone convicted of either crime? That's because criminals used other banks, that did not have such strict KYC and AML, to commit their crimes.
It would be great if Qenta can post a very quick update on europacbank.com It does not have to be much, a one line saying they will contact customers 'soon'. This should only take 5 minutes.
I've asked many times. Not just for customers, but for myself. The last email he sent me was that Qenta would be updating Opt In customers soon. He did not define soon, but if he was being honest, I expect an update this week. Next week at the latest. But I keep defending myself and the bank as we both keep getting attacked. Instead anger should be directed toward the corrupt government officials and "journalists" who did this to me and customers.
Get government insurance against the government. I guess any pretence that the government is literally not the mafia has been abandoned.
