Euro Pacific bank is a scam

[Vqn]

The Commissioner originally supported the sale to Qenta. But the IRS negotiated a deal with her to reject the sale and put the bank into receivership instead. However, while in receivership she did give permission for the bank to sell its assets to Qenta, especially customers. I wanted to do that as OCIF threatened to keep any deposits that were not transferred out. So I wanted to make sure customers who didn't Opt out and request funds, got transferred to Qenta so they could recover their deposits.

Are all funds under the control of the reciever or is it split between reciever for the opt-outa and Qenta in control of the opt-ins funds?

 

[Pschiff]

Are all funds under the control of the reciever or is it split between reciever for the opt-outa and Qenta in control of the opt-ins funds?

Last I knew the funds were split between Qenta and the Receiver. But Qenta has more funds then were needed to cover the Opt-ins, so needed to make a transfer to the Receiver to cover all the Opt. outs.

 

[Radko]

Last I knew the funds were split between Qenta and the Receiver. But Qenta has more funds then were needed to cover the Opt-ins, so needed to make a transfer to the Receiver to cover all the Opt. outs.

Any chance that Qenta will end up screwing opt-in customers and won't return the funds, or maybe they will hold on to the funds for a longtime before returning them?

Opt-in customers were told that they could transfer their funds as soon as they are available, but it's hard to trust a Fintech company.

 

[SCHLOSSFINANZ]

it can happen, as Qenta is NOWHERE licenced as a financial institution on the entire planet

 

[daniels27]

it can happen, as Qenta is NOWHERE licenced as a financial institution on the entire planet

The are a payment service provider with a licence in Austria. They also have a vault on a company in Switzerland which has been liquidated already.
https://qenta.com/vault-terms/
http://app2.ge.ch/ecohrcinternet/extract?lang=FR&companyOfsUid=CHE-406.674.883

 

[Radko]

it can happen, as Qenta is NOWHERE licenced as a financial institution on the entire planet

Qenta is a publicly traded company. It listed on Nasdaq following a merger with the special purpose acquisition company (SPAC) Blockchain Coinvestors Acquisition Corp. The merger was announced on November 10, 2022, and the combined company continues to operate as Qenta.

But they operate as a Fintech company, so anything can happen.

It would be criminal if they got involved in the liquidation of EPB just to keep customer's funds.

 

[ilke]

it can happen, as Qenta is NOWHERE licenced as a financial institution on the entire planet

It's licensed in Ghana actually

but they also have sponsor banks in the US and EMIs in the EU

The are a payment service provider with a licence in Austria. They also have a vault on a company in Switzerland which has been liquidated already.
https://qenta.com/vault-terms/
http://app2.ge.ch/ecohrcinternet/extract?lang=FR&companyOfsUid=CHE-406.674.883

 

[Radko]

It's licensed in Ghana actually

but they also have sponsor banks in the US and EMIs in the EU

View attachment 8538

Qenta is regulated in multiple jurisdictions to ensure compliance and security. The company holds financial authorizations in Bermuda, Brazil, Dubai, Ghana, Luxembourg, Puerto Rico, Switzerland, and the United States. Additionally, Qenta operates as a money services business in 33 U.S. states and is regulated by the Office of the Commissioner of Financial Institutions (OCIF) in Puerto Rico as an International Financial Entity

 

[ilke]

Qenta is regulated in multiple jurisdictions to ensure compliance and security. The company holds financial authorizations in Bermuda,

Yes, as an asset manager.

Brazil,

Doesn't seem to be.

Dubai,

Only for trade of precious metals, would not call that financial authorization.

Ghana,

Mentioned

Luxembourg,

No.

Puerto Rico,

Only in the loosest of terms

Switzerland,

Company got liquidated.

and the United States. Additionally, Qenta operates as a money services business in 33 U.S. states

Theoretically; they have no state licenses but they applied for exemptions somewhere

and is regulated by the Office of the Commissioner of Financial Institutions (OCIF) in Puerto Rico as an International Financial Entity

EPB cannot operate and they don't have their own IFE.

 

[Radko]

Yes, as an asset manager.

Doesn't seem to be.

Only for trade of precious metals, would not call that financial authorization.

Mentioned

No.

Only in the loosest of terms

Company got liquidated.

Theoretically; they have no state licenses but they applied for exemptions somewhere

EPB cannot operate and they don't have their own IFE.

Yes, it's hard to trust a Fintech company that operates mainly in the Blockchain.

Time will tell...

 

[Pschiff]

Qenta is a publicly traded company. It listed on Nasdaq following a merger with the special purpose acquisition company (SPAC) Blockchain Coinvestors Acquisition Corp. The merger was announced on November 10, 2022, and the combined company continues to operate as Qenta.

But they operate as a Fintech company, so anything can happen.

It would be criminal if they got involved in the liquidation of EPB just to keep customer's funds.

It's not public. The SPAC merger fell through.

 

[Pschiff]

Yes, as an asset manager.

Doesn't seem to be.

Only for trade of precious metals, would not call that financial authorization.

Mentioned

No.

Only in the loosest of terms

Company got liquidated.

Theoretically; they have no state licenses but they applied for exemptions somewhere

EPB cannot operate and they don't have their own IFE.

Where did you read that Qenta was registered as an IFE in Puerto Rico?

 

[EPBVictim01]

It’s very confusing tbh, is there no way to find out the real reason ?!

 

[James123456]

It's not public. The SPAC merger fell through.

very SHADY!! with Qenta who now has opt-ins money!!

Blockchain Coinvestors Acquisition in an 8-K said it has terminated a merger agreement with crypto fintech Qenta, announced in November last year at an enterprise value of approximately $622 million. A forward purchase agreement connected to the deal was also cancelled.

The SPAC said the decision was based “primarily based on Qenta’s failure to (i) deliver the Closing Company Financial Statements (as defined in the merger agreement) by the applicable deadline and (ii) comply with the Financial Information Obligations.”

https://news.spacconference.com/202...nvestors-acquisition-i-terminates-qenta-deal/

 

[James123456]

very SHADY!! with Qenta who now has opt-ins money!! AND ignore emails from opt-in clients!

Blockchain Coinvestors Acquisition in an 8-K said it has terminated a merger agreement with crypto fintech Qenta, announced in November last year at an enterprise value of approximately $622 million. A forward purchase agreement connected to the deal was also cancelled.

The SPAC said the decision was based “primarily based on Qenta’s failure to (i) deliver the Closing Company Financial Statements (as defined in the merger agreement) by the applicable deadline and (ii) comply with the Financial Information Obligations.”

https://news.spacconference.com/202...nvestors-acquisition-i-terminates-qenta-deal/

 

[Alpinist]

Not surprised to know, that Qenta has already wasted great part of the funds.

Also, It will be very hard to get anything from them.

Whose idea the opt-in & Qenta was at first place ?

 

[ilke]

Not surprised to know, that Qenta has already wasted great part of the funds.

Where did you get that information?

 

[Pschiff]

Not surprised to know, that Qenta has already wasted great part of the funds.

Also, It will be very hard to get anything from them.

Whose idea the opt-in & Qenta was at first place ?

It was my idea. If people didn't have another bank account to transfer their funds, they could opt to have the funds more to Qenta. OCIF wanted to just confiscate any funds that did not transfer out. So I thought Qenta was a much better option.

 

[EPBVictim01]

It was my idea. If people didn't have another bank account to transfer their funds, they could opt to have the funds more to Qenta. OCIF wanted to just confiscate any funds that did not transfer out. So I thought Qenta was a much better option.

What’s your honest opinion? Do you think we will get our funds back soon and all of our funds or just a part ? Just your honest opinion please.
Thank you

 

[Pschiff]

What’s your honest opinion? Do you think we will get our funds back soon and all of our funds or just a part ? Just your honest opinion please.
Thank you

I think everyone will get their funds back, though the recovery may not be 100%. I guess it all depends on how much longer it takes. I hoped my lawsuit would force the Receiver to speed things up, as if customer funds have not been returned by the trial date it will look very bad for him.