Its AI generated but wont hurt if You all start bombarding OCIF with this ( just read it and adjust it a little as this is as I mentioned AI generated )
Here’s a formal complaint template you can send to
OCFI (Office of the Commissioner of Financial Institutions of Puerto Rico) regarding the
Qenta insolvency risk and its potential mismanagement of the liquidation process.
Subject:
To: Office of the Commissioner of Financial Institutions of Puerto Rico (OCFI)
Email: [Insert OCFI contact email]
CC: [Other relevant parties – legal representatives, financial regulators, etc.]
Date: [Insert Date]
Dear Commissioner,
I am writing as a customer of
Euro Pacific Intl. Bank, Inc. (EPB) to formally express my concerns regarding the ongoing
liquidation process and OCFI’s
handling of asset transfers to Qenta Inc. Despite clear signs that
Qenta is likely insolvent, the liquidation is still progressing, potentially jeopardizing the financial rights of affected customers like myself.
Key Concerns:
- Qenta’s Failure to Fulfill Liabilities:
- Over three years have passed, and Qenta has not repaid customer funds as per the terms of the Purchase and Assumption Agreement.
- Numerous customers, including myself, have yet to receive the funds owed to us.
- Qenta’s Financial Instability:
- Recent reports indicate Qenta is on the verge of bankruptcy, raising concerns that they cannot meet financial obligations.
- The UAE and Switzerland companies involved in the acquisition have been struck from Qenta’s register, leaving Qenta as the sole entity responsible for liabilities.
- OCFI’s Ongoing Transfers to an Insolvent Party:
- Despite being alerted to Qenta’s financial risk, OCFI is continuing the liquidation and asset transfers to Qenta.
- If Qenta collapses, these assets may be lost, and customers will have no recourse to recover their funds.
Formal Requests for Action:
Given OCFI’s role as the
supervisory authority and bank receiver, I respectfully request that OCFI:
- Immediately halt all asset transfers to Qenta until a full reassessment of its financial viability is conducted.
- Provide transparency regarding how OCFI has evaluated Qenta’s ability to honor customer liabilities.
- Explore alternative measuresto protect customer funds, including:
- Holding assets in an independent escrow account.
- Reassessing the liquidation plan to prevent Qenta from mismanaging funds.
- Confirm whether OCFI will take responsibility if customers' funds are lost due to asset transfers to an insolvent entity.
I urge OCFI to act in the
best interest of affected customers and to uphold its
regulatory duty to ensure financial security and transparency. Please provide a
written response within
[reasonable time frame, e.g., 14 days] outlining OCFI’s position and intended actions regarding this matter.
If no action is taken, I will have no choice but to escalate this complaint to
U.S. federal financial regulators and legal authorities to ensure accountability.
I appreciate your immediate attention to this matter and look forward to your prompt response.
Sincerely,
[Your Full Name]
[Your Contact Information]
[Your Account Information (if relevant)]
Next Steps:
- Send this complaint via email & registered mail to ensure receipt.
- Keep records of all communication with OCFI.
- Consider escalating to federal regulators if OCFI fails to act.
- Consult a financial attorney for possible legal action against OCFI.