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Euro Pacific bank is a scam
- Thread starter sonato
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- euro pacific bank
@Pschiff can you tell us what the remit of this lawyer is that you hired? What has this lawyer discovered so far ?
Does the Receiver and OCIF have to engage with this lawyer ?
Unbelievably insulting to customers that they continue to use the same statement month after month with no explanation for the delay.
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Would have exact same questions to you... let's hope we can get a useful answer!
The Receiver has no photos of himself on his website and no images of himself anywhere on the Internet. The firm has no Google reviews either . Not one.
I think it tells you a lot about him. Aloof, incommunicative, unresponsive, total disregard for customers. It all heightens suspicions.
OK so while the Portuguese government had a freeze on the account he had an excuse not to communicate with customers. But since then he hasn't said anything. I think if any of us were the Receiver we would want to keep customers informed and reassure customers. But he has said nothing at all.
I think it tells you a lot about him. Aloof, incommunicative, unresponsive, total disregard for customers. It all heightens suspicions.
OK so while the Portuguese government had a freeze on the account he had an excuse not to communicate with customers. But since then he hasn't said anything. I think if any of us were the Receiver we would want to keep customers informed and reassure customers. But he has said nothing at all.
Obviously everything is at a standstill, so I don't expect that we will get our money before the 1 year anniversary in just 4 weeks from today. After that everybody goes on holidays, including Peter.
There is a high probability in what you say. Note that Peter has been forced to sign a special agreement that allows him to sit back and not interrupt this very complicated situation called return of funds to the owners. The world has seen scams better than this one, that is for sure. We could write a book titled "How to f**k a client in broad daylight and not be held accountable".
It's the business the Receiver and OCIF are in, that's how they can get a lot of cash very easily without having to worry about anyone controlling them, they have the power and they use that power to make money. It's not ethical but that's how it is, especially in a shithole like Puerto Rico, they need to survive somehow.
@Pschiff said a few days ago that he has a lawyer in Puerto Rico. Can't this lawyer question the Receiver and OCIF about what's going on ?
If the Receiver is not trying to return customers' money but is only focused on prolonging the situation, then this is a clear fraud that the lawyer that Peter/EPB has hired should pick up on.
I'm happy for Peter. I hope we will also have a chance to sign an agreement with the receiver to get back our money too.
I agree with @regi .I am very concerned about the integrity and motivation of the Reveiver and OCIF. I increasingly feel we need our own legal representation as customers.
One of the big differences is that when EPB was put into receivership it had no debt, and more than enough cash to immediately return all money to depositors. Normally when a bank is put into receivership, it's bankrupt and so it takes a long time to sort out the mess, and figure out who gets what. This may be the first time in history that a completely solvent bank, without a single loan, no secured creditors, or even a single past-due bill, was put into receivership. Also, receivership is normally a last resort, if there are no better alternatives available. In this case, Qenta was willing to buy the bank, immediately inject another $7 million in capital, and assume all of the bank's liabilities.
@Pschiff is it possible for your lawyer in Puerto Rico to put pressure on the Receiver to be more transparent with customers as to what the problems are and what he is doing to fix the problems?
Since the freeze on the account was lifted by the Portuguese government the Receiver has failed to communicate with customers. With no transparency in the process it gives no reassurance to customers whatsoever. Thank you.
Please if you get to speak to OCIF tell them that we now know that all this was completely unnecessary as OCIF could have let you liquidate the bank on your own and we would've had our money back 11 months ago, so by holding the press conference and appointing a Receiver, not only it has delayed this process tremendously but has also caused a complete unnecessary expens to the bank and possibly to the customers, and we can't help but think that this was never about helping or protecting the customers, it was about squeezing every possible penny from the bank and the customers as that's what it looks like, everything but protect the customer's money, pure corruption and incompetence by OCIF and the appointed Receiver, 11 months and counting....
This "first time in history" confirms my belief that it was planned. Someone felt a great opportunity for easy money that belongs to someone else. The rest was just good poker game. We can all agree that this should not normally happen. They tried to grill your good name. They did practically everything they could to prevent the transfers from going out. I'm not the conspiracy type. But I've been in business too long. It's hard not to believe it's about money. This shitty world sleeps on the money.
