Qenta is led by Brent De Jong, a seasoned professional in opportunistic.
https://theorg.com/org/qenta/teams/leadership-team
https://theorg.com/org/qenta/teams/leadership-team
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Euro Pacific bank is a scam
- Thread starter sonato
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The Receiver didn't do much during the last 3 months of 2024, except paying himself.
"Actual disbursements during the reporting period are mainly related to liquidation expenses as detailed in the liquidation order, including the services rendered by the undersigned and additional costs incurred on professionals assisting in the liquidation process."
This is still going to take quite some time.
"Accounts Still Subject to Reconciliation and Validation $11,134,908"
I don't know what is the meaning of this:
"Despite exhausting significant efforts with the acquiring entity for reaching a consensual modification of the liquidation plan adopted upon the entry of the Consent Order for Liquidation and Dissolution of International Financial Entity executed on August 9, 2022, no such agreement has been reached."
"Given the changes required for the distribution of assets and obligations owed to all customers, the Trustee has then to propose to OCIF the corresponding modification on the terms that will govern the liquidation procedures for the customers that will be part of the Trustee’s liquidation process."
*The Receiver is publishing his share of information related to the liquidation of Opt-out customers.
I wonder why Qenta doesn't publish anything whatsoever...
"Actual disbursements during the reporting period are mainly related to liquidation expenses as detailed in the liquidation order, including the services rendered by the undersigned and additional costs incurred on professionals assisting in the liquidation process."
This is still going to take quite some time.
"Accounts Still Subject to Reconciliation and Validation $11,134,908"
I don't know what is the meaning of this:
"Despite exhausting significant efforts with the acquiring entity for reaching a consensual modification of the liquidation plan adopted upon the entry of the Consent Order for Liquidation and Dissolution of International Financial Entity executed on August 9, 2022, no such agreement has been reached."
"Given the changes required for the distribution of assets and obligations owed to all customers, the Trustee has then to propose to OCIF the corresponding modification on the terms that will govern the liquidation procedures for the customers that will be part of the Trustee’s liquidation process."
*The Receiver is publishing his share of information related to the liquidation of Opt-out customers.
I wonder why Qenta doesn't publish anything whatsoever...
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Unfortunately, based on reading that report I do not think we are even close to any funds being released. I'd say the chances of customers getting any money prior to the three-year anniversary of the unnecessary and likely illegal action to place the bank into receivership are slim.
My guess is that the receiver has no incentive to expedite the process as he is making too much money from it. That is why I never wanted the bank to go into receivership in the first place. Before I found multiple buyers for the bank, the OCIF Commissioner assured me and my lawyer that if I could not find a buyer that she would let me liquidate the bank myself, and not put it into receivership. But the IRS got her to change her mind, as putting the bank into receivership made the bank look bad in the media and allowed the J5 to use that fact in its PR campaign to take credit for helping to shut down a bank that it suspected of facilitating tax evasion and money laundering, and which was the target of its Atlantis Investigation. They also always used the words "had suspected" as they knew from the investigation itself that those suspicions turned out to be unwarranted. But they never acknowledged that fact to anyone.
The reason I needed to sell or liquidate the bank is that I was losing too much money owning it. About $250 - $300K per month. Given my and the bank's reputation for money laundering and tax evasion, there was no way for it to ever be profitable so long I owned it. So I needed to get rid of it.
We need to set priorities and the best sequence of actions.
- I would say first let Peter Schiff find out about the suttuation of customers money held by Qenta.
- If that’s OK than wait for the completion of the liquidation process.
- Subsequently customers should get there money and if not, or not a sufficient amount, than start a law suit against who ever is responsible for this mess.
Peter Schiff is responsible for the contract made with Qenta and I expect from him that he stays in touch with them to monitor the progress. An e-mail is not enough, Peter could have at least have a video call with the CEO of Qenta and get everything crystal clear! One of the questions I have is why did EPB moved my status from opt-out to opt-in without prior notification. I found out only after asking later on. Now my money is at risk under the control of a company I didn’t choose.
- I would say first let Peter Schiff find out about the suttuation of customers money held by Qenta.
- If that’s OK than wait for the completion of the liquidation process.
- Subsequently customers should get there money and if not, or not a sufficient amount, than start a law suit against who ever is responsible for this mess.
Peter Schiff is responsible for the contract made with Qenta and I expect from him that he stays in touch with them to monitor the progress. An e-mail is not enough, Peter could have at least have a video call with the CEO of Qenta and get everything crystal clear! One of the questions I have is why did EPB moved my status from opt-out to opt-in without prior notification. I found out only after asking later on. Now my money is at risk under the control of a company I didn’t choose.
The bank's customers were sacrificed by the OCIF Commissioner. They were collateral damage in the conspiracy between her and the IRS to help the J5 look good, by enabling it to turned its failed Atlantis Investigation of the bank into a fake success. I'm still not sure if this was also a favor to Nick Mckenzie and Charlotte Grieve of the Age, so that they could use the action against the bank to defend against my defamation lawsuit. They used it, but lost the lawsuit anyway. I am hoping to find this out in discovery in my lawsuit, which is the main reason I filed it. More than the money I want to get all the fact to expose the illegal conduct of government officials, not just in the U.S,, but the U.K and Australia as well. This information will also be helpful to a customer lawsuit as well
I think it is not related to Qenta inc.
Just they just did a name change to Qenta, but it's still a different company.
Peter with all due respect I don't think people care about the past. They want to know about present and future and what is happening with their assets.
@NorthernDutchman Has made a valid and logical sequence of events.
Legal action should only be taken as a last resort and it must be established who they should take action against which may include yourself if the Qenta situation is not cleared up. We await any reply that Qenta has given you.
@NorthernDutchman Has made a valid and logical sequence of events.
Legal action should only be taken as a last resort and it must be established who they should take action against which may include yourself if the Qenta situation is not cleared up. We await any reply that Qenta has given you.
Peter I think we all know what happened by now and I'm sure you'll have your day in court, and hopefully you will win and the truth will come out.
But we, the customers, have not been able to access our funds for several years and we have zero control of what is happening, so we shouldn't do anything that would jeopardize the liquidation process.
Please try to talk to Qenta, they never publish anything related to opt-in funds, so we have no idea what is going on with our money, thanks.
3 Main Takeaways from the Receiver’s Update:
- Good News for OPT-OUT Clients: The receiver has resolved the issues for OPT-OUT: “Trustee has completed the reconciliation of those bank accounts…that were transferred for his administration.”
- Bad News for OPT-IN Clients: The receiver states: “the management of these assets and obligations remain with the acquiring entity (Qenta). Claims and inquiries should be remitted to their Customer Services team at [email protected].” If/when Qenta collapses, the receiver is effectively saying: “you are on your own.” OPT-IN clients fell for a risky startup digital enterprise.
- More Bad News for OPT-IN: “Despite exhausting significant efforts with the acquiring entity (Qenta) for reaching a consensual modification of the liquidation plan, no such agreement has been reached….the Trustee has then to propose to OCIF the corresponding modification on the terms that will govern the liquidation procedures for the customers that will be part of the Trustee’s liquidation process.”
- The key part is the last bit: there will be a different approach and outcome for OPT-IN vs. OPT-OUT.
Reminder:
- Schiff sold OPT-IN clients for USD 1.25M in Sep 2022. The buyers: Qenta Inc. (still registered in Delaware), but G-Commerce DMCC & Responsible Gold Trading DMCC (UAE) are now out of business—2 out of 3 buyers are gone.
- Qenta Disaster: Wolves in sheep’s clothing. These are the ones OPT-IN should be suing. Peter knows this but won’t admit it—his $1.25M payout depended on the number of OPT-IN clients.
maybe PS can convince Qenta to cancel the SPA and transfer the assets back to the receiver
I have left voicemails and sent emails. I am still waiting for a response. There is really nothing I can do. I have no authority or control over Qenta or the bank. I'm as helpless as any of you.
The concern on this board is that Qenta doesn't have the funds.
During the virtual town hall meetings that we had back in 2022 with Qenta, Brent De Jong said that "he had been involved in the liquidation of 2 banks in Dubai and in those cases customers lost money."
He is now involved in the liquidation of EPB..., so I wonder, what is it with this guy who seems to have a habit of getting involved with banks that are being liquidated, he must have a motive, only he knows.
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