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Euro Pacific bank is a scam

#3,443
Pschiff said:
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.
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Are You able to share this letter? Would be nice to have it.
 
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#3,444
danielboros said:
That gain would have never been made if the gold was exchanged to USD
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The gold gain is not gone. The gold is sitting in a brinks vault in Switzerland, exactly where Qenta transferred it. he Silver is still with Silver Bullion in Singapore. Brent just want to steal that gain for himself. He terminated the purchase. He now claims that allows him to sell the gold and silver now, send the bank back what the gold and silver were worth when it was transferred to Qenta in Sept. of 2022, and keep al the gain for himself.
 
#3,445
Pschiff said:
The gold gain is not gone. The gold is sitting in a brinks vault in Switzerland, exactly where Qenta transferred it. he Silver is still with Silver Bullion in Singapore. Brent just want to steal that gain for himself. He terminated the purchase. He now claims that allows him to sell the gold and silver now, send the bank back what the gold and silver were worth when it was transferred to Qenta in Sept. of 2022, and keep al the gain for himself.
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Please share the letter. This way everyone can have this in case people wants to sue.
 
#3,446
All EPB customers have been screwed over, either by way of Quenta now wanting to keep the OPT-IN customers metals and mutal funds gains, or by way of OPT-OUT where we had to liquidate our metals holdings on the promise the funds would be returned in 3 months. We could have purchased our metals back and had minimal to zero losses if the plan was actioned as we were promised. Now 3 years later, inflation kicking off, loss purchasing power on USD, we have all lost out.

I personally believe a class action lawsuite to recover losses + compensation against OCIF and TRUSTEE may be the only option now. How much longer must we wait on empty promises from such an incomeptent TRUSTEE and corrupt OCIF? With TRUMP in power, who is anti-globalist, anti IRS ect, this may be our best shot during this period to get something back, in IMHO
 
#3,447
danielboros said:
That gain would have never been made if the gold was exchanged to USD
Click to expand...
The gold gain is not gone. The gold is sitting in a brinks vault in Switzerland, exactly where Qenta transferred it. he Silver is still with Silver Bullion in Singapore. Brent just want to steal that gain for himself. He terminated the purchase. He now claims that allows him to sell the gold and silver now, send the bank back what the gold and silver were worth when it was transferred to Qenta in Sept. of 2022, and keep al the gain for himself.
Vqn said:
What a complete mess ! What would happen if the reciever denies these terms?
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If Qenta refuses to return the assets it receives, and the receiver correctly rejects their offer to return gets 38K of the 80K they received, then the Purchase and Sale agreement requires arbitration in N.Y. City.
 
#3,448
Pschiff said:
The gold gain is not gone. The gold is sitting in a brinks vault in Switzerland, exactly where Qenta transferred it. he Silver is still with Silver Bullion in Singapore. Brent just want to steal that gain for himself. He terminated the purchase. He now claims that allows him to sell the gold and silver now, send the bank back what the gold and silver were worth when it was transferred to Qenta in Sept. of 2022, and keep al the gain for himself.

If Qenta refuses to return the assets it receives, and the receiver correctly rejects their offer to return gets 38K of the 80K they received, then the Purchase and Sale agreement requires arbitration in N.Y. City.
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What a mess. As this is almost only the gains regarding gold and the mutual funds, could the reciever send back the customer funds that are already in USD cash or will everyone hsve to wait for this dispute to be resolved?
 
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#3,451
spartan7510 said:
Exactly, RECIEVER sees $$$ signs, another reason to delay and rake in more money for himself...
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A delay now is much better than allowing Qenta to walk away with tens of millions in depositors money. But I agree fighting to prevent this theft will end up putting more money in the Receiver's pocket. But far less than what Brent wants to put in his pocket. I'm sure the arbitrators will order Qenta to indemnify the bank these added costs.
 
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#3,452
Pschiff said:
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.
Click to expand...
Wow, I cannot believe Qenta thinks they can get away with this! You mentioned arbitration in NY in a later post. If this does go to arbitration, do you know how long it will take to get a hearing? Months or years :(
 
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#3,453
Pschiff said:
A delay now is much better than allowing Qenta to walk away with tens of millions in depositors money. But I agree fighting to prevent this theft will end up putting more money in the Receiver's pocket. But far less than what Brent wants to put in his pocket. I'm sure the arbitrators will order Qenta to indemnify the bank these added costs.
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Yeah I agree its the only option.
 
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#3,456
Pschiff said:
A delay now is much better than allowing Qenta to walk away with tens of millions in depositors money. But I agree fighting to prevent this theft will end up putting more money in the Receiver's pocket. But far less than what Brent wants to put in his pocket. I'm sure the arbitrators will order Qenta to indemnify the bank these added costs.
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Brent De Jong has realized that he can steal $35 million from customers and he hasn't hesitated to terminate the agreement so he can profit big time.

I thought you said that you liked Brent De Jong, what a con artist!
 
#3,458
Radko said:
Brent De Jong has realized that he can steal $35 million from customers and he hasn't hesitated to terminate the agreement so he can profit big time.

I thought you said that you liked Brent De Jong, what a con artist!
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Lets be honest, its business, he is trying to pull as much as he can. Not absolving him, but thats life, always has been that way. Its a brutal world.
 
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