Euro Pacific bank is a scam

[regi]

Qenta & the Receiver will need to go to court and file a lawsuit against Novo bank, a lawsuit in Portugal will take years knowing how slow the Portuguese legal system is, so unless Novo releases the funds soon, we are in for a long wait.

Until then, I'll be homeless, and as a last resort, I'll go to Portugal and rob Novo Bank. In order not to hurt anyone in an act of desperation, the weapon will be fake. I will make a heist on my own money that has been stolen from me. As a result, I will be arrested and jailed for stealing my own money from another thief.

 

[Radko]

Until then, I'll be homeless, and as a last resort, I'll go to Portugal and rob Novo Bank. In order not to hurt anyone in an act of desperation, the weapon will be fake. I will make a heist on my own money that has been stolen from me. As a result, I will be arrested and jailed for stealing my own money from another thief.

I will join you and we can talk while we are under arrest waiting for the cops to bring us in front of the judge, we will be OK though, as we will be charged and sentenced for Coercion (coercion is a crime in which you have tried to force someone to do something, in this case return our money, that they don't want to do, it doesn't matter if what you are try to accomplish is right or wrong, it is a crime as you are supposed to go through the legal system, and it's punishable with up 2 years in jail, but since we don't have a criminal record in Portugal we won't go to prison.)

Anyone else wants to join?

PS, I've read the document that Peter attached and all that it says is that Novo bank was informed that the release of the freeze took place on February 22nd, so almost 2 months ago that they could have released the funds, but they didn't. I guess they know that until a judge orders them to release the funds they can carry on ignoring whatever requests they receive from EPB.
Novo bank is a bank that was created right after the recession of 2008 by the Portuguese government to hold all the bad mortgages that other Portuguese banks had at the time, so Novo bank is pretty much a government bank, so they have the Portuguese government on their side. The day the Regulator of Puerto Rico gave the press conference with the J5 representatives I knew right then that we were in for a long wait, the press conference was the perfect excuse to hold on to the funds indefinitely, no one is going to snatch those funds easily.

 

[ATNTESTING]

Here is the notice of the release of the freeze on the bank's account. Its in Portugese.

Thanks Peter. Then what's next? Can we all have a call (Peter, your lawyer, Qenta, customers) and figure out how we can work together to put pressure on Novo? Maybe involve the media as well? We deserve at least an update from Novo. What is their plan? What are their reasons to keep our funds?

 

[orion7352]

Qenta & the Receiver will need to go to court and file a lawsuit against Novo bank, a lawsuit in Portugal will take years knowing how slow the Portuguese legal system is, so unless Novo releases the funds soon, we are in for a long wait.

Well let's hope they can resolve the issues amicably so we don't have to resort to legal action.

A long lawsuit would wipe out all our money in fees, EPB staff costs, the Receiver, etc.

One of the best ways to put pressure on Novo Bank is to picket their headquarters. They won't like that . It could very well lead to a run on the bank like Credit Suisse.

 

[spartan7510]

everyone on here impacted by NOVO BANK unlawfully wihtholding funds need to raise a complaint to the relevant Portuguese banking regulators and include the court order in the complaint.
I have already lodged my complaint, here are the resources:

https://finance.ec.europa.eu/consum...s-fin-net-country/fin-net-members-portugal_en
https://clientebancario.bportugal.pt/en/formulario-nova-reclamacao
https://www.cmvm.pt/en/Investor_area/Reclamacoes/Pages/Complaints.aspx
https://www.livroreclamacoes.pt/Inicio/

 

[Radko]

Well let's hope they can resolve the issues amicably so we don't have to resort to legal action.

Yes let's hope for that, legal action will cost a lot of money and a lot of time, so anything other than going through the Portuguese legal system would be a better option, although at the end of the day legal action may be the only option left, it's all based on money, if Novo can make more money by holding onto the funds than the cost of defending themselves in court, they will delay the release of the funds for as long as they can. Novo is a bank not a charity, they are in the business of making money, not friends.

 

[orion7352]

I will join you and we can talk while we are under arrest waiting for the cops to bring us in front of the judge, we will be OK though, as we will be charged and sentenced for Coercion (coercion is a crime in which you have tried to force someone to do something, in this case return our money, that they don't want to do, it doesn't matter if what you are try to accomplish is right or wrong, it is a crime as you are supposed to go through the legal system, and it's punishable with up 2 years in jail, but since we don't have a criminal record in Portugal we won't go to prison.)

Anyone else wants to join?

PS, I've read the document that Peter attached and all that it says is that Novo bank was informed that the release of the freeze took place on February 22nd, so almost 2 months ago that they could have released the funds, but they didn't. I guess they know that until a judge orders them to release the funds they can carry on ignoring whatever requests they receive from EPB.
Novo bank is a bank that was created right after the recession of 2008 by the Portuguese government to hold all the bad mortgages that other Portuguese banks had at the time, so Novo bank is pretty much a government bank, so they have the Portuguese government on their side. The day the Regulator of Puerto Rico gave the press conference with the J5 representatives I knew right then that we were in for a long wait, the press conference was the perfect excuse to hold on to the funds indefinitely, no one is going to snatch those funds easily.

Actually Novo Banco's biggest shareholder appears to be a US private equity outfit called Lone Star

 

[Radko]

everyone on here impacted by NOVO BANK unlawfully wihtholding funds need to raise a complaint to the relevant Portuguese banking regulators and include the court order in the complaint.
I have already lodged my complaint, here are the resources:

https://finance.ec.europa.eu/consum...s-fin-net-country/fin-net-members-portugal_en
https://clientebancario.bportugal.pt/en/formulario-nova-reclamacao
https://www.cmvm.pt/en/Investor_area/Reclamacoes/Pages/Complaints.aspx
https://www.livroreclamacoes.pt/Inicio/

Sorry to say this but that document is not a court order, no one is ordering anything, it is just a document informing that the freeze of EPB account was lifted on February 22nd, that's all.
Getting a proper court order will have to go through the Portuguese legal system, which as we all know can take years and will cost a lot of money, lawsuits are expensive, customers would have to pay for all that, including paying the Receiver while he waits patiently in Puerto Rico, this is the sad reality.

 

[spartan7510]

Sorry to say this but that document is not a court order, no one is ordering anything, it is just a document informing that the freeze of EPB account was lifted on February 22nd, that's all.
Getting a proper court order will have to go through the Portuguese legal system, which as we all know can take years and will cost a lot of money, lawsuits are expensive, customers would have to pay for all that, including paying the Receiver while he waits patiently in Puerto Rico, this is the sad reality.

So we have now proof that what NOVO BANK is doing is illegal and unlawfully witholding customer funds. What have you done about it? Have you bothered to raise complaints with relevant regulatory bodies?
Time to give them negative publicity. Start here:

https://twitter.com/bancodeportugal
This is the lawyer in the court documents representing the bank - https://www.linkedin.com/in/carlos-carneiro-gomes-8335751/?locale=en_US

This is the bank CEO - https://www.linkedin.com/in/mark-bourke-602093b5/

Start questining them on public space and shame them.

 

[Radko]

So we have now proof that what NOVO BANK is doing is illegal and unlawfully witholding customer funds. What have you done about it? Have you bothered to raise complaints with relevant regularoty bodies?
Time to give them negative publicity. Start here:

https://twitter.com/bancodeportugal
This is the lawyer in the court documents representing the bank - https://www.linkedin.com/in/carlos-carneiro-gomes-8335751/?locale=en_US

This is the bank CEO - https://www.linkedin.com/in/mark-bourke-602093b5/

Start questining them on public space and shame them.

Sorry but we do not have prove that Novo bank is doing something illegal, you are assuming that, but you have no evidence of Novo bank doing anything illegal, they may be doing it but at the moment we don't have evidence of that.
Time will tell, eventually the truth will come out, who knows maybe Novo has a grace period that allows them to hold on to the funds, we don't know at the moment, we assume the sometimes illegal is taking place but that's all, there are always two sides to every story.

Nevertheless I will complain just as you have, thanks for the links, let's all complain, it won't hurt doing it.

 

[orion7352]

So we have now proof that what NOVO BANK is doing is illegal and unlawfully witholding customer funds. What have you done about it? Have you bothered to raise complaints with relevant regulatory bodies?
Time to give them negative publicity. Start here:

https://twitter.com/bancodeportugal
This is the lawyer in the court documents representing the bank - https://www.linkedin.com/in/carlos-carneiro-gomes-8335751/?locale=en_US

This is the bank CEO - https://www.linkedin.com/in/mark-bourke-602093b5/

Start questining them on public space and shame them.

Shaming and getting aggressive in public isn't the best first option in my opinion.

Hopefully EPB, the lawyer, Qenta or whoever can resolve this amicably with Novo Banco.

 

[spartan7510]

WItholding customer deposits when transfer has been requested and court documents stipulating for funds to be returned without explanation is unlwful. Show me any reason following the court document of the 22nd February why they should withold withdrawals.
The fact that they have not communicated anything out following the 22nd February should tell you everything you need to know about the criminal enterprise.
In the UK, they would be pulled over hot coals for that and be fined for failing to return customer funds wihtou providing a clear and legal explanation why.

 

[ATNTESTING]

So we have now proof that what NOVO BANK is doing is illegal and unlawfully witholding customer funds. What have you done about it? Have you bothered to raise complaints with relevant regulatory bodies?
Time to give them negative publicity. Start here:

https://twitter.com/bancodeportugal
This is the lawyer in the court documents representing the bank - https://www.linkedin.com/in/carlos-carneiro-gomes-8335751/?locale=en_US

This is the bank CEO - https://www.linkedin.com/in/mark-bourke-602093b5/

Start questining them on public space and shame them.

That's a good finding! But not sure shaming them on public would make things go faster for us.
What are our options at this point? Sending separated messages on Linkedin would just make them laugh and ignore us.
Twitter can be a good option to make sure they reply to us.
We need at least a reason why they keep withholding our money.

I guess someone like Peter messaging them could have a bigger impact.

 

[Radko]

Shaming and getting aggressive in public isn't the best first option in my opinion.

Hopefully EPB, the lawyer, Qenta or whoever can resolve this amicably with Novo Banco.

Yes, I fully agree, that's the smart thing to do, believe me when I say that a lawsuit against Novo would mean having to wait for a very long time, potentially years, not to mention the cost of the lawsuit. And it can turn very ugly very quickly, they may ask for another investigation and get other agencies involved, I won't say much more as I don't know who else is reading this thread, a lawsuit must be avoided at all cost.

 

[orion7352]

WItholding customer deposits when transfer has been requested and court documents stipulating for funds to be returned without explanation is unlwful. Show me any reason following the court document of the 22nd February why they should withold withdrawals.
The fact that they have not communicated anything out following the 22nd February should tell you everything you need to know about the criminal enterprise.
In the UK, they would be pulled over hot coals for that and be fined for failing to return customer funds wihtou providing a clear and legal explanation why.

Well this is Portugal and Portugese law. I doubt either of us know much about Portuguese law.

I think we need to calm down . All customers are as frustrated and annoyed as you are.

Let's see if any constructive, reasonable, amicable progress can be made.

Unfortunately we don't ever get any information from EPB, Receiver or Qenta. Only Peter Schiff is kind enough to keep customers informed as best he can. Unfortunately he might not get information if the talks are between the Receiver and Novo Banco in this particular instance.

 

[Pschiff]

If we don't get anywhere with Novo early next week the bank will take legal action. Hopefully the equivalent of an emergency injunction ordering the immediate lease of the funds. So I don't think it will take years. Novo has no legitimate legal basis for not releasing the funds.

 

[spartan7510]

I think you will get results and very fast, if you drag NOVO BANK CEO name over coals in public, especially if newspapers decide to report on it. Probably get money back within a week...
After SVB and other financial calamities in banks, they are not very popular in public opinion... so something they would want to avoid.

 

[Radko]

If we don't get anywhere with Novo early next week the bank will take legal action. Hopefully the equivalent of an emergency injunction ordering the immediate lease of the funds. So I don't think it will take years. Novo has no legitimate legal basis for not releasing the funds.

Thanks Peter, let's hope for that, have a peaceful weekend everybody, let's have a party the day we get our money back, hopefully very soon.

 

[orion7352]

I think you will get results and very fast, if you drag NOVO BANK CEO name over coals in public, especially if newspapers decide to report on it. Probably get money back within a week...
After SVB and other financial calamities in banks, they are not very popular in public opinion... so something they would want to avoid.

I am sorry but I think trying to attack the CEO of Novo Bank in public is likely to be counter productive. It would immediately get his defences up.

The CEO of Novo Bank may know nothing about this whole issue. Novo bank is pretty large. So it may not have come to his attention.

 

[spartan7510]

I am sorry but I think trying to attack the CEO of Novo Bank in public is likely to be counter productive. It would immediately get his defences up.

The CEO of Novo Bank may know nothing about this whole issue. Novo bank is pretty large. So it may not have come to his attention.

Disagree with that, CEO's do not like negative publicity (particularly CEO's of banks given what has happened), matters and complaints tend to get attention and traction when they are in the spotlight. Someone down the management chain who took the descision to withhold customer depsits from been returned will get a slap when the CEO is dragged over the coals in the news.

Question is now that Peter Schiff has presented the evidence from the court document (it is out of his control) so what are you going to do about it? Continue to complain about/to Peter?