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Euro Pacific bank is a scam

#2,322
Pschiff said:
From what I can tell Qenta also has some of the Opt out funds, which it needs to transfer back to the bank. OCIF told me that any funds not withdrawn by customers would be forfeited to the Puerto Rico government. Given that Puerto Rico is bankrupt, I was worried that it would be very difficult if not impossible for customers to retrieve their funds. So I thought having all the funds not withdrawn by customers going to Qenta was better than having them go to the Puerto Rico government. It would have been much better for customers had the OCIF Commissioner allow Qetna to buy the bank. Qenta was requited to add $8 million in capital, which would have raised total capital to over $10 million. But due to her secret deal with the IRS to promote the J5, she could not allow the bank to stay in business.
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Sorry your statement is omitting facts, yes if money is not claimed it is forfeited to the PR government, but this happens after at least 24 months! So depositors have plenty of time to get the funds transferred
 
#2,323
Pschiff said:
From what I can tell Qenta also has some of the Opt out funds, which it needs to transfer back to the bank.
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Do you literally mean some of the client funds who opted out still got sent to Qenta?

How did this happen?

Which Qenta entity and jurisdiction holds legally the clients funds?
 
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#2,325
The receiver promised to have a liquidation plan in last year. But now due the lawsuit everything is frozen for the time being..

The normal order after liquidation to share the funds, which are still left..
1. Receiver
2. Customers
3. Shareholders

Now, PS has taken position 2 above and he sure will claim some 30MM compensation including reputation and other financial damages.

We pay now in way all the show as receiver is using our funds to protect himself.

I am also a bit suspicious that OCT group alone is able to file a lawsuit against the state of PR and receiver.
 
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#2,326
Alpinist said:
The receiver promised to have a liquidation plan in last year. But now due the lawsuit everything is frozen for the time being..

The normal order after liquidation to share the funds, which are still left..
1. Receiver
2. Customers
3. Shareholders

Now, PS has taken position 2 above and he sure will claim some 30MM compensation including reputation and other financial damages.

We pay now in way all the show as receiver is using our funds to protect himself.

I am also a bit suspicious that OCT group alone is able to file a lawsuit against the state of PR and receiver.
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@Pschiff if you will get a compensation does the receiver/OCIF will really pay it from the EPB customer funds ? If yes are you really gonna take that compensation ?
 
#2,327
Notice how Peter Schiff now dissappears ! The specific questions to him asked today/yesterday here in this forum will be left unanswered or - at most - will be unanswered vaguely! Peter knows exactly what is going on with Qenta and he is not 100% honest as he pretends he only knows partially!
Peter is indicating in this forum that Qenta is stealing client money!
 
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#2,328
Alpinist said:
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 ?
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Man, such a statement is a big bomb. Most of us here are allready struggling hard with the whole situation so if You got informations like that please shed some more light on it.
Through those 2 years allready there has been made many statements that made people fall into paranoia. Most of them where speculations but people on the edge tend to take these kind of things as facts. This constant uncertenty led to a tragic death of one of EPB clients who took his life allready so please, lets not go this way. Please back Your informations with something and restrain Yourself if You just have gossips. We are really really emotionally drained with all this.
 
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#2,329
JoeOhNo said:
Man, such a statement is a big bomb. Most of us here are allready struggling hard with the whole situation so if You got informations like that please shed some more light on it.
Through those 2 years allready there has been made many statements that made people fall into paranoia. Most of them where speculations but people on the edge tend to take these kind of things as facts. This constant uncertenty led to a tragic death of one of EPB clients who took his life allready so please, lets not go this way. Please back Your informations with something and restrain Yourself if You just have gossips. We are really really emotionally drained with all this.
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There are no evidence of anything, just a bunch of fear mongering.

Let's stick to the facts pls.
 
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#2,332
Radko said:
There are no evidence of anything, just a bunch of fear mongering.

Let's stick to the facts pls.
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unfortunately not just "fear mongering" Radko. From reliable sources it is known that 1) the delay since October is because of Qenta and 2) Qenta is in financial trouble.
Some of the clients know people at Qenta, some of the clients have a lawyer and some of the clients have spoken to the receiver. All this info has been shared. 1) + 2) above = the sad status
- and Peter knows this and was the one behind "opt-in" which gave opt-in customers a massive counterparty risk (qenta going into default) that seemingly none of them thought about
 
#2,333
James123456 said:
unfortunately not just "fear mongering" Radko. From reliable sources it is known that 1) the delay since October is because of Qenta and 2) Qenta is in financial trouble.
Some of the clients know people at Qenta, some of the clients have a lawyer and some of the clients have spoken to the receiver. All this info has been shared. 1) + 2) above = the sad status
- and Peter knows this and was the one behind "opt-in" which gave opt-in customers a massive counterparty risk (qenta going into default) that seemingly none of them thought about
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This nightmare just seem to go and on with no ending !
 
#2,335
@Alpinist and @James123456 might I ask if You are EPB clients?

@James123456 Im not stating Your info is wrong nor right but honestly, please do specify who You are refering to. What level officer told You Qenta is in financial trouble. When was it.

What conserns me is the fact that Im actually in a group represented by the lawyer and those revelations are something we hear for the first time.

We, as a group, tried to collect as many contacts with other customers that have their own contacts also, even if they are not interested in paying a lawyer, and we had no signals from any of them like the ones You are providing. We are also in contact with people with their own lawyers.

So my question is where are You exactly getting those info.

Seriously, its not an attack on Your person but gossips at this point can really push some people over the edge. Have that on Your mind.
 
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#2,336
James123456 said:
unfortunately not just "fear mongering" Radko. From reliable sources it is known that 1) the delay since October is because of Qenta and 2) Qenta is in financial trouble.
Some of the clients know people at Qenta, some of the clients have a lawyer and some of the clients have spoken to the receiver. All this info has been shared. 1) + 2) above = the sad status
- and Peter knows this and was the one behind "opt-in" which gave opt-in customers a massive counterparty risk (qenta going into default) that seemingly none of them thought about
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I don't think there is anyone in this forum that knows anything about Qenta.
The only one that could really know if opt-in customers are at risk, and if Qenta is in any trouble is @Pschiff.

It would be criminal if Qenta got involved in the liquidation of EPB just to end up keeping customers funds. I don't see that possible.
 
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#2,339
JoeOhNo said:
@Alpinist and @James123456 might I ask if You are EPB clients?

@James123456 Im not stating Your info is wrong nor right but honestly, please do specify who You are refering to. What level officer told You Qenta is in financial trouble. When was it.

What conserns me is the fact that Im actually in a group represented by the lawyer and those revelations are something we hear for the first time.

We, as a group, tried to collect as many contacts with other customers that have their own contacts also, even if they are not interested in paying a lawyer, and we had no signals from any of them like the ones You are providing. We are also in contact with people with their own lawyers.

So my question is where are You exactly getting those info.

Seriously, its not an attack on Your person but gossips at this point can really push some people over the edge. Have that on Your mind.
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Unfortunately yes
 
#2,340
@SCHLOSSFINANZ in one of Your previous posts You stated You dug up some Qenta swiss companies struck off the register. Could You be so kind and share the details of those companies and preferably how did You connect it with Qenta if its not immediately obvious?
 
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