Euro Pacific bank is a scam

[Radko]

Sorry it was in response to Peter's twitter post you posted of him saying money already transferred to Qenta. I am trying to understand how it was possible or whether he made a mistake in saying this.

I believe Peter thinks that some of the money has already been transferred to Qenta, the money that was kept with Firstbank in Puerto Rico is the money he thinks has already been transferred, which I doubt it to be honest.

I imagine once all the funds are in Puerto Rico, EPB will start transferring the funds to those customers who have opted out, and the rest of the money will be transferred to Qenta so those customers who have opted in can have access to their money.
Although I believe all those customers who have decided to stay with Qenta for the time being are just waiting to have access to their funds so they can also transfer their money to another Bank, let's keep in mind that EPB is unable to transfer dollars, only euros and other currencies but not Dollars, so those customers that have dollars are waiting for their money to be transferred to Qenta where they will then be able to transfer their dollars to another bank.
Eventually all customers will leave EPB and Qenta, making the sale of EPB to Qenta a complete waste of time.

 

[Martin Everson]

I imagine once all the funds are in Puerto Rico, EPB will start transferring the funds to those customers who have opted out, and the rest of the money will be transferred to Qenta so those customers who have opted in can have access to their money.

The funds will never ever be in Puerto Rico sadly. The way correspondence banking works is EPB can only instruct Novo and other correspondence banks via SWIFT messaging to send funds onwards to clients or other parties. No money will ever reach Puerto Rico unless in hard physical cash.

P.S Interesting that Peter's alleged OCT account liked your post here but remains silent on the issue .

 

[ATNTESTING]

Peter S said he's reviewing legal options for us... that would be great if he could share it with us. So far it looks like he doesn't do anything to speed up the process.

 

[Radko]

Peter S said he's reviewing legal options for us... that would be great if he could share it with us. So far it looks like he doesn't do anything to speed up the process.

Peter also said he doesn't want to do or say anything that could potentially delay the process of returning the funds, which I understand.
Legal action would certainly delay everything, potentially for years, legal action is always the last resort and Peter knows that, however if funds are returned in a couple of months and he feels there was wrong doing on the part of the OCIF for closing the bank, then he could certainly take legal action in order to ask for damages.
Besides right now the only one who could take legal action is the Receiver as he is legally in charge of the liquidation of EPB.

 

[Martin Everson]

if funds are returned in a couple of months and he feels there was wrong doing on the part of the OCIF for closing the bank, then he could certainly take legal action in order to ask for damages.

He would be wise to do this after finding a new home outside Puerto Rico. Never a good idea to sue a banana republic government unless you have eyes in the back of your head. Take it from someone living in one.

 

[ATNTESTING]

Now EPB online banking is down for many days already. No worry, everything is safe and under control!

 

[milhous]

stil not working

 

[clemens]

Now EPB online banking is down for many days already. No worry, everything is safe and under control!

Are you serious!!!

 

[milhous]

I just sent an email (again) what the hell is going on
Does not show much confidence in the settlement of all this

 

[Radko]

I just sent an email (again) what the hell is going on
Does not show much confidence in the settlement of all this

I guess all those fees that are still charging customers are not being used to keep their website running, I wonder where the fees are going?

 

[milhous]

I guess all those fees that are still charging customers are not being used to keep their website running, I wonder where the fees are going?

No Idea.

All I know is that the savings of my business are still at Euro Pacific and nobody reaches out to me what the hell is going on.

Quite frustrating and this is not the way a receiver should deal with this. The most decent thing to do is inform the customers why this is taking so long and what steps they are taking to make sure that all funds are being wired to their rightful owners.

 

[Martin Everson]

The most decent thing to do is inform the customers why this is taking so long and what steps they are taking to make sure that all funds are being wired to their rightful owners.

Agreed.

 

[milhous]

it is getting better and better.
Now the site is offline
this morning the site was online and ebanking was working (I could log in)..
No idea wat Euro Pacific / Quenta is doing but it is getting a mess.

 

[Radko]

 

[spartan7510]

it is getting better and better.
Now the site is offline
this morning the site was online and ebanking was working (I could log in)..
No idea wat Euro Pacific / Quenta is doing but it is getting a mess.

Its just the landing page missing,

try this - Euro Pacific Bank - eBanking

 

[Martin Everson]

View attachment 4493

So Novo Banco is prevented by the "law" from returning funds .

Anyway he responded at least and knows the reason but can't share it. Fair play you can't really ask more of him now or any party for that matter. It's out of everyone's hands. It's just a waiting game. Hopefully its not like epayments that went on for over two years.

 

[ATNTESTING]

View attachment 4493

if he can't publicly give the reason, then he can PM one of us?

 

[Marie Manila]

Just received an email stating

We would like to take this opportunity to extend our gratitude for your patience and understanding during the recent technical difficulties with our eBanking and website.


We are pleased to announce that all systems have now been fully restored and are operating normally again.

Does this mean that outgoing transfers will also work normally? I don't think so.

 

[milhous]

Just received an email stating

Does this mean that outgoing transfers will also work normally? I don't think so.

Nope. All you have is a view on the amount in your euro pacific account

 

[ATNTESTING]

My account is locked after many attempts. It kept saying my password is wrong... how about you?