https://www.irs.gov/pub/irs-ci/j5-report-7-25-2024.pdf : page 4: "Euro Pacific Bank....has since been liquidated"
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Euro Pacific bank is a scam
- Thread starter sonato
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I read that. Just a bad choice of words. It should read its in liquidation. Maybe the PR guy at the J5 who wrote just assumed the liquidation would have been completed by now.
The winding up "process" of the bank has nothing to do with IRS. Understanding receivership and liquidation process is not the IRS's competence to be fair. It is indeed a bad choice of words or journalism so don't be easily misguided by that.
The professional in this process is the appointed receiver whether you like him or not. Just be patient until the process is finished as nothing you say or complain about here will have any change on the outcome of the process.
Probably true. But the IRS is the reason the bank is now in receivership. The OCIF Commissioner had already decided to allow Qenta to buy and continue to operate the bank, which would have been seamless for customers. But the IRS and J5 needed to publicly save face for their highly publicized Atlantis Investigation, which ended up finding that the bank did nothing wrong. They also likely wanted to help the "journalists" who broke the story they leaked save face too. So the IRS got the OCIF Commissioner to do them a favor. Other than a pat on the back during the press conference, I'm not sure what else she received in return.
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