Euro Pacific bank is a scam

[stalker]

If you were an Opt in customer, Qenta should still be holding your gold. None should have been sold. However, I have no information to confirm or deny what happened to the gold. If it was sold, I think Opt in customers have a right to demand Qetna buy it back at the same price at which it was sold. I will email Qenta to check on the status.

I didn't have any gold, I only had an account in your bank with a balance of around $50k, I opened the account in 2016 when the bank was still in the Grenadines... it's not clear whether I'm optin or optout, in 2022 I tried to transfer the balance to a European trading account, but the transfer never started and no one can tell me why: do you have any ideas?

 

[stalker]

Ho controllato e l'oro fisico del mio account è stato venduto ad agosto 2022. Ben oltre la data di giugno 2022 in cui è intervenuta l'OCIF. Mi è stato ordinato, imposto dall'EPB, così potevo diventare un Opt out. Ho dato istruzioni tramite bonifico per far trasferire il denaro su un altro conto bancario della stessa entità. Tuttavia, quel trasferimento è stato rifiutato. Subito dopo c'è stata l'assemblea cittadina e potevi diventare Opt out o Opt in. Ho scelto di optare per a causa del G-coin. E ora?

At what price has been sold?

 

[against the wind]

At what price has been sold?

Arnd 1700 usd

 

[danielboros]

I didn't have any gold, I only had an account in your bank with a balance of around $50k, I opened the account in 2016 when the bank was still in the Grenadines... it's not clear whether I'm optin or optout, in 2022 I tried to transfer the balance to a European trading account, but the transfer never started and no one can tell me why: do you have any ideas?

If you are opt out and you already asked Quenta then you should ask the receiver. If you made the transaction after EPB was suspended then obviously it did not go through. We would not be talking if any of those transactions would have gone through.

 

[stalker]

If you are opt out and you already asked Quenta then you should ask the receiver. If you made the transaction after EPB was suspended then obviously it did not go through. We would not be talking if any of those transactions would have gone through.

it was end of 2022 (september i guess), they asked to choose weather to move the balance of the account to another bank or to let them to Qenta; i tried to move my balance to another bank but my transfer has been lost somehow,,,the i became an involuntary opt-in it seems.

 

[danielboros]

You could contact the receiver, but generally speaking you should get the same amount as an opt in as you would have as an opt out so unless things go south there won't be any difference either way.

 

[stalker]

You could contact the receiver, but generally speaking you should get the same amount as an opt in as you would have as an opt out so unless things go south there won't be any difference either way.

if Qenta sold gold and silver, every optin should receive approx 15.000$ as extramoney. i don't know what happened but gold and silver are shared between all the optins in theory

 

[danielboros]

if Qenta sold gold and silver, every optin should receive approx 15.000$ as extramoney. i don't know what happened but gold and silver are shared between all the optins in theory

Why would opt ins share their gold with each other? They are not part of the liquidation. Their assets have been moved from point A to point B just like when EPB moved from St Vincent to Puerto Rico. What you are suggesting is wishful thinking.

 

[stalker]

Why would opt ins share their gold with each other? They are not part of the liquidation. Their assets have been moved from point A to point B just like when EPB moved from St Vincent to Puerto Rico. What you are suggesting is wishful thinking.

because a liquidation works like this, the assets are pooled, the prioritary creditors are paid, what remains is divided among the customers

 

[Pschiff]

because a liquidation works like this, the assets are pooled, the prioritary creditors are paid, what remains is divided among the customers

There are no creditors. There where just normal invoices from service providers. I tried to pay those within the first 30 days, but the receiver wouldn't allow it. That's when I thought we could just send all the customers their money. This was no a normal liquidation. The bank was completely solvent. So there was no need to pool anything.

 

[stalker]

There are no creditors. There where just normal invoices from service providers. I tried to pay those within the first 30 days, but the receiver wouldn't allow it. That's when I thought we could just send all the customers their money. This was no a normal liquidation. The bank was completely solvent. So there was no need to pool anything.

i was talking about the optins client migrated to Qenta

 

[danielboros]

because a liquidation works like this, the assets are pooled, the prioritary creditors are paid, what remains is divided among the customers

This has been discussed here before. Opt ins were migrated not liquidated which is why the liquidator has no responsibility if Quenta goes down in flames. Even if what you say could happen why would everyone get payed the same amount? If I had 5 one dollar accounts would I get 50k for those?

 

[James123456]

Guys....be grateful that peter schiff is in the forum! he has actually answered the vast majority of doubts. And he is generally correct (Which you can confirm if you take the time and read the docs like C&D order and the docs from Sep 2022). Peter is a patient man.
THAT SAID. Always good to let chat gpt the advanced version analyse The receiver´s latest report. Chat GPT is not exactly impressed!

Why This Report Is Not Clearly and Concisely Written​

The liquidation report contains important financial and procedural details, but its clarity and conciseness are hindered by structural and linguistic issues. Below are ten reasons why the report is difficult to read and understand efficiently:

1. Overuse of Legal Jargon & Redundant Phrasing – The report includes excessive legal terminology and unnecessarily complex phrasing, making it harder for non-legal readers to follow.
2. Long, Dense Paragraphs – Important financial figures and key updates are embedded in lengthy paragraphs rather than being clearly structured, making it difficult to scan for relevant information.
3. Inconsistent Formatting – Some financial data is presented in paragraphs, while other sections use tables and footnotes, creating an inconsistent reading experience.
4. Unclear Transitions Between Sections – The report jumps between different topics without proper introductions, causing confusion about how sections relate to each other.
5. Repetitive Information – Similar details regarding the liquidation process, asset reconciliation, and customer balances appear multiple times, unnecessarily increasing the report’s length.
6. Lack of Summary for Key Findings – The report presents data without an executive summary, making it difficult for readers to quickly understand the most critical takeaways.
7. Tables & Financial Data Are Not Clearly Labeled – Some financial figures are presented without proper explanations, leaving ambiguity about their context and significance.
8. Too Many Parentheses & Footnotes in Text – Important details are placed in parentheses or footnotes instead of being integrated into the main text, disrupting readability.
9. Ambiguous Customer Information – The section regarding customer claims and outstanding obligations does not provide clear information on eligibility, process, or timelines for payouts.
10. Wordy Sentences That Can Be Simplified – The report contains overly long and complex sentences that could be reworded more concisely while maintaining accuracy.

 

[Pschiff]

Guys....be grateful that peter schiff is in the forum! he has actually answered the vast majority of doubts. And he is generally correct (Which you can confirm if you take the time and read the docs like C&D order and the docs from Sep 2022). Peter is a patient man.
THAT SAID. Always good to let chat gpt the advanced version analyse The receiver´s latest report. Chat GPT is not exactly impressed!

Why This Report Is Not Clearly and Concisely Written​

The liquidation report contains important financial and procedural details, but its clarity and conciseness are hindered by structural and linguistic issues. Below are ten reasons why the report is difficult to read and understand efficiently:

1. Overuse of Legal Jargon & Redundant Phrasing – The report includes excessive legal terminology and unnecessarily complex phrasing, making it harder for non-legal readers to follow.
2. Long, Dense Paragraphs – Important financial figures and key updates are embedded in lengthy paragraphs rather than being clearly structured, making it difficult to scan for relevant information.
3. Inconsistent Formatting – Some financial data is presented in paragraphs, while other sections use tables and footnotes, creating an inconsistent reading experience.
4. Unclear Transitions Between Sections – The report jumps between different topics without proper introductions, causing confusion about how sections relate to each other.
5. Repetitive Information – Similar details regarding the liquidation process, asset reconciliation, and customer balances appear multiple times, unnecessarily increasing the report’s length.
6. Lack of Summary for Key Findings – The report presents data without an executive summary, making it difficult for readers to quickly understand the most critical takeaways.
7. Tables & Financial Data Are Not Clearly Labeled – Some financial figures are presented without proper explanations, leaving ambiguity about their context and significance.
8. Too Many Parentheses & Footnotes in Text – Important details are placed in parentheses or footnotes instead of being integrated into the main text, disrupting readability.
9. Ambiguous Customer Information – The section regarding customer claims and outstanding obligations does not provide clear information on eligibility, process, or timelines for payouts.
10. Wordy Sentences That Can Be Simplified – The report contains overly long and complex sentences that could be reworded more concisely while maintaining accuracy.

The excessive length is likely the result of the receiver billing the bank by the hour. So the longer it takes him to write the report, the more money he can change the banking for writing it.

 

[ATNTESTING]

it was end of 2022 (september i guess), they asked to choose weather to move the balance of the account to another bank or to let them to Qenta; i tried to move my balance to another bank but my transfer has been lost somehow,,,the i became an involuntary opt-in it seems.

Exact same case for me. I attempted many times to transfer my fund to my personal account. This personal account was known my EPB because I previously successfully transferred funds to this account. But somehow, they decided I was OPT IN without letting me know...

 

[Pschiff]

Exact same case for me. I attempted many times to transfer my fund to my personal account. This personal account was known my EPB because I previously successfully transferred funds to this account. But somehow, they decided I was OPT IN without letting me know...

None of the Opt outs were sent their money. We tired to process about 500 outgoing wires, but Novo bank refused to send them. It was months before we discovered why. The Portugese government froze the account due to the media reports and government press releases falsely claiming the bank was shut down for money laundering and tax evasion. In truth, the bank was shut down specifically to create that false impression, but the pretense given to shut it down was that the bank was under-capitalized and that OCIF needed to protect customers to putting the bank into receivership.

 

[against the wind]

@Pschiff can you tell us why epb/Qenta is no longer communicating with depositors?

 

[Pschiff]

@Pschiff can you tell us why epb/Qenta is no longer communicating with depositors?

No idea. Bank communications are handled by the Receiver. So I have no control over that. I also have no control over Qenta. The receiver can bill the bank for every response. So I'm not sure why he is not doing it.

 

[stalker]

None of the Opt outs were sent their money. We tired to process about 500 outgoing wires, but Novo bank refused to send them. It was months before we discovered why. The Portugese government froze the account due to the media reports and government press releases falsely claiming the bank was shut down for money laundering and tax evasion. In truth, the bank was shut down specifically to create that false impression, but the pretense given to shut it down was that the bank was under-capitalized and that OCIF needed to protect customers to putting the bank into receivership.

so Novo banco stopped all the optout transfers?

 

[Pschiff]

so Novo banco stopped all the optout transfers?

Yes. But they were acting under the directive of the Portugese Government. Their own AML laws prevented them from telling us this. So they kept making excuses as to why the wires weren't going out. They claimed not to recognize the authority of the receiver to sign off on the requests. I eventually found the notice from the Portugese government unopened in the bank's office, that was empty due to the Receiver having taken over the bank's office.