Euro Pacific bank is a scam

[Pschiff]

All the cash in now under the control of the receiver and Qenta. I have no idea what is holding up the return. I've asked but have not been given an answer. All the gold was transferred to Qenta a long time ago. I have no idea if they still hold it, or if its been sold and hedged. I've asked but again did not received an answer.

 

[danielboros]

Maybe there's another investigation going on?

 

[Pschiff]

Maybe there's another investigation going on?

There is nothing left to investigated. The bank was already investigated more than any other bank, especially for its size. They were desperate to find something that the bank did wrong. They found nothing. That's why the OCIF Commissioner had to come up with the insolvency pretense and long history of non-compliance.

 

[danielboros]

There is nothing left to investigated. The bank was already investigated more than any other bank, especially for its size. They were desperate to find something that the bank did wrong. They found nothing. That's why the OCIF Commissioner had to come up with the insolvency pretense and long history of non-compliance.

That didn't stop them before.

 

[Martin Everson]

All the gold was transferred to Qenta a long time ago. I have no idea if they still hold it, or if its been sold and hedged. I've asked but again did not received an answer.

Any customers here received any communication from Qenta to this effect?

P.S I have never banked with EPB so no dog in this fight.

 

[Radko]

Any customers here received any communication from Qenta to this effect?

P.S I have never banked with EPB so no dog in this fight.

Qenta told me that they have all the Gold, those that do not stay with Qenta will have to liquidate that Gold.
Everything else, Silver, Mutual funds, and foreign currencies will be liquidated by the Receiver and customers will get the equivalent in USD.
Those that do want to stay with Qenta will have to hold everything in Gold, as Qenta doesn't offer any other type of investments.

 

[Martin Everson]

I assume the money will eventually be repaid from the new third-party bank and not wired in name of EPB. I mean USD and EPB inbound wire would land some ppl with uncomfortable questions due to banks reputation. Plus being in USD a currency that subjects the receiving bank/EMI to US laws they may go anal on compliance checks.

 

[Radko]

I assume the money will eventually be repaid from the new third-party bank and not wired in name of EPB. I mean USD and EPB inbound wire would land some ppl with uncomfortable questions due to banks reputation. Plus being in USD a currency that subjects the receiving bank/EMI to US laws they may go anal on compliance checks.

I'm sure customers will have to resubmit their KYC.

 

[Pschiff]

Yes, funds will either be send from the U.S. bank in USD., where the receiver transferred the money, or Qenta. That depends on Opt in, or Opt out. For Op in, customers can choose to leave their funds in G-coin I think at Qenta. Ot just withdraw. My guess is new KYC will be required. Anything to slow down the process. They can argue its been a long time, so all information needs to be updated.