Euro Pacific bank is a scam

[ATNTESTING]

Axos asked me a bunch of documents including a bank statement. How can I get this if their website is shut down?

 

[Pschiff]

Based on my notes, at current market prices, Qenta was transferred over $40 million of gold alone from Silver Bullion. Over 12,000 ounces. Qenta was also transferred over $20 million dollars that was in the bank's IB account. So that alone is over $60 million. That does not count any of the cash the Bank has from the Novo account or it's FirstBank corporate account. So combined, Qenta and the bank hold assets worth well over what customers were owed at the time the bank was placed into receivership. Pus, that does not include any interest earned on any deposits.

 

[spartan7510]

Based on my notes, at current market prices, Qenta was transferred over $40 million of gold alone from Silver Bullion. Over 12,000 ounces. Qenta was also transferred over $20 million dollars that was in the bank's IB account. So that alone is over $60 million. That does not count any of the cash the Bank has from the Novo account or it's FirstBank corporate account. So combined, Qenta and the bank hold assets worth well over what customers were owed at the time the bank was placed into receivership. Pus, that does not include any interest earned on any deposits.

Interest? Can probably kiss that goodbye. The trustee is dipping his gready hands into the funds, dragging this matter out as long as possible to profit as much as possible.
When I was forced to liquidate my GLD holdings to facilitate the transfer out, we were told maximum of 3 months to wait for our cash to be returned. I had to sell my GLD holdings at around $1750 per ounce, I could have bought it back in same quantity many times in the months after that, but now that loss has stacked up becuase of incompetence.

 

[Guess]

Interest? Can probably kiss that goodbye. The trustee is dipping his gready hands into the funds, dragging this matter out as long as possible to profit as much as possible.
When I was forced to liquidate my GLD holdings to facilitate the transfer out, we were told maximum of 3 months to wait for our cash to be returned. I had to sell my GLD holdings at around $1750 per ounce, I could have bought it back in same quantity many times in the months after that, but now that loss has stacked up becuase of incompetence.

Me Too!

 

[Pschiff]

Based on my notes, at current market prices, Qenta was transferred over $40 million of gold alone from Silver Bullion. Over 12,000 ounces. Qenta was also transferred over $20 million dollars that was in the bank's IB account. So that alone is over $60 million. That does not count any of the cash the Bank has from the Novo account or it's FirstBank corporate account. So combined, Qenta and the bank hold assets worth well over what customers were owed at the time the bank was placed into receivership. Pus, that does not include any interest earned on any deposits.

Actually Qenta pulled $27 million from the bank's IB account. I also learned that the gold held at SGB in Singapore was moved to Brinks in Switzerland.

 

[StEPB]

if you managed to get a reply from the receiver as an OPT IN before then you are a legend.

Also as an Opt Out you will be a legend.

 

[StEPB]

Interest? Can probably kiss that goodbye. The trustee is dipping his gready hands into the funds, dragging this matter out as long as possible to profit as much as possible.
When I was forced to liquidate my GLD holdings to facilitate the transfer out, we were told maximum of 3 months to wait for our cash to be returned. I had to sell my GLD holdings at around $1750 per ounce, I could have bought it back in same quantity many times in the months after that, but now that loss has stacked up becuase of incompetence.

Sane here.

 

[Pschiff]

Unfortunately I have just read the termination letter send by Qenta to Wigberto Lugo, the receiver in the liquidation. Instead of returning the gold and silver transferred to it by the bank, Qenta intends to just return the cash value of those metals at the time they were received in Sept. 2022. That would allow Qenta to reap a windfall of about $25 million dollars, at the expense of bank customers. I can't allow Qenta to get away with that grand larceny, and have advised the receiver that it would constitute gross negligence on his part and provide an unjust enrichment to Qenta, if he agreed to accept those outrageous terms.

 

[Pschiff]

Actually it's worse. In addition to the $25 million Qenta is trying to take from the bank by keeping the appreciated value of the gold and silver, Qenta also wants to keep the gains on the mutual funds, another $5 million, plus charge the bank a termination fee of another $5 million. This is completely outrageous.

 

[stalker]

Actually it's worse. In addition to the $25 million Qenta is trying to take from the bank by keeping the appreciated value of the gold and silver, Qenta also wants to keep the gains on the mutual funds, another $5 million, plus charge the bank a termination fee of another $5 million. This is completely outrageous.

 

[Pschiff]

Actually Qenta pulled $27 million from the bank's IB account. I also learned that the gold held at SGB in Singapore was moved to Brinks in Switzerland.

The $27 million was actually sent to the bank. i did not realize this.. So that is OK. The biggest problem is the $30 million or so in gains on metals and mutual funds that Qenta wants to keep for itself, and the extra $5 million it wants to charge the bank to terminate the purchase.

 

[Pschiff]

Actually Qenta pulled $27 million from the bank's IB account. I also learned that the gold held at SGB in Singapore was moved to Brinks in Switzerland.

The $27 million was sent to the bank. I just found that out. So this money is not part of the problem.

 

[Vqn]

Actually it's worse. In addition to the $25 million Qenta is trying to take from the bank by keeping the appreciated value of the gold and silver, Qenta also wants to keep the gains on the mutual funds, another $5 million, plus charge the bank a termination fee of another $5 million. This is completely outrageous.

What a complete mess ! What would happen if the reciever denies these terms?

 

[Radko]

What a complete mess ! What would happen if the reciever denies these terms?

Let's hope it gets resolved without the need of a lawsuit, which would delay the return of the funds by a lot.

 

[Radko]

Actually it's worse. In addition to the $25 million Qenta is trying to take from the bank by keeping the appreciated value of the gold and silver, Qenta also wants to keep the gains on the mutual funds, another $5 million, plus charge the bank a termination fee of another $5 million. This is completely outrageous.

It didn't make sense for Qenta to terminate the agreement so suddenly when the liquidation is almost over, but now it makes sense.

They are going to steal $30 million from customers .

Brent De Jong is a thief!

 

[Vqn]

It didn't make sense for Qenta to terminate the agreement so suddenly when the liquidation is almost over, but now it makes sense.

They are going to steal $30 million from customers .

Brent De Jong is a thief!

And want charge $5 million for it as a fee !

 

[against the wind]

So actually we are talking about 5 million they want to keep, as costs compensation.
The gold gain is gone, thanks PS for finding these Ali Babi gang.

 

[Vqn]

So actually we are talking about 5 million they want to keep, as costs compensation.
The gold gain is gone, thanks PS for finding these Ali Babi gang.

Why is gold and mutual funds gone?

 

[Radko]

Why is gold and mutual funds gone?

Nothing is gone, that's nonsense.

Not bad for Qenta to make $35 million in 3 years at the expense of customers.

 

[danielboros]

So actually we are talking about 5 million they want to keep, as costs compensation.
The gold gain is gone, thanks PS for finding these Ali Babi gang.

That gain would have never been made if the gold was exchanged to USD