Euro Pacific bank is a scam

[Alpinist]

Qenta not Qetna to be precise,
https://www.qenta.com/
A question, is it better to be now opt-out or opt-in ( migration to Qenta) and can one still change this one to either direction .

 

[Radko]

Qenta not Qetna to be precise,
https://www.qenta.com/
A question, is it better to be now opt-out or opt-in ( migration to Qenta) and can one still change this one to either direction .

Based on the information it would appear that customers opting-in will get the money sooner, although nothing is guaranteed at this moment.
Customers option-out have a deadline of October 30th, I imagine the Receiver needs time to process all the wire transfers to those that are opting-out.
At least this is how I read the information.

I would send a message to the bank and you can ask them if you can still change your mind.

 

[Alpinist]

Thanks Radko,

Global financial services technology company headquarter in the United States (“GFST”)

I have just studied a few lines about the Qenta and now we have GFST, you cannot find any online data about this organization.

Qenta has a few offices even in Europe, why this sudden change.

 

[JoeOhNo]

Can anyone explain why they are not mentioning Qenta at all in that communication doc and instead they mention that GFST? Whats that all about and what that GFST actually is?

 

[Radko]

Can anyone explain why they are not mentioning Qenta at all in that communication doc and instead they mention that GFST? Whats that all about and what that GFST actually is?

Qenta AKA GFST.
Qenta is not a Bank.

 

[JoeOhNo]

Qenta AKA GFST.
Qenta is not a Bank.

Oh ok, got it thx.

 

[mrbrush]

@Pschiff what percentage of their deposits are opt in customers get back? Approximately? What do you think?

 

[Pschiff]

@Pschiff what percentage of their deposits are opt in customers get back? Approximately? What do you think?

I think its about 500 -600 accounts that opted out. I forger how many total accounts there are.

 

[orion7352]

Do you think it's possible for the timetable for opt-out clients to be speeded up? Why should we have to wait for end October!

 

[StEPB]

I think its about 500 -600 accounts that opted out. I forger how many total accounts there are.

So, when the opt-in is distributed in July, the opt-out clients are on there own. Probably no possibility to become an opt-in client anymore? Quenta seems more reliable to me than the receiver.

 

[Pschiff]

So, when the opt-in is distributed in July, the opt-out clients are on there own. Probably no possibility to become an opt-in client anymore? Quenta seems more reliable to me than the receiver.

Once your money is at Qetna you should be able to withdraw it right away, or leave it there if you so choose. That's why I had the bank sell the accounts to Qetna. In addition to earning the bank $1.25 million to further protect customers, and perhaps ensure that money would be left over from me, OCIF had planned to keep for itself any money that customers did not submit proper wiring instructions to transfer to another account. I did not want that to happen, so I arranged that any monies not requested to be wired out would be sent to Qenta for safe keeping. I also trust Qetna way more than OCIF.

 

[Radko]

Once your money is at Qetna you should be able to withdraw it right away, or leave it there if you so choose. That's why I had the bank sell the accounts to Qetna. In addition to earning the bank $1.25 million to further protect customers, and perhaps ensure that money would be left over from me, OCIF had planned to keep for itself any money that customers did not submit proper wiring instructions to transfer to another account. I did not want that to happen, so I arranged that any monies not requested to be wired out would be sent to Qenta for safe keeping. I also trust Qetna way more than OCIF.

Thank you Peter, thank you for thinking about the customers and not letting OCIF steal whatever money was left unclaimed.
I hope you end up getting some money for yourself.

 

[Pschiff]

Thank you Peter, thank you for thinking about the customers and not letting OCIF steal whatever money was left unclaimed.
I hope you end up getting some money for yourself.

The way it's going I doubt I will recover one dime out of the $10 million plus I personally put into the bank, $7 million of which was contributed in 2021 and 2022 to cover losses incurred as a direct result of the 60 Minutes defamation. I did this to protect customers and to make sure the bank always had more than enough cash to pay all bills and cover 100% of customer deposits.

 

[orion7352]

Once your money is at Qetna you should be able to withdraw it right away, or leave it there if you so choose. That's why I had the bank sell the accounts to Qetna. In addition to earning the bank $1.25 million to further protect customers, and perhaps ensure that money would be left over from me, OCIF had planned to keep for itself any money that customers did not submit proper wiring instructions to transfer to another account. I did not want that to happen, so I arranged that any monies not requested to be wired out would be sent to Qenta for safe keeping. I also trust Qetna way more than OCIF.

Is Qenta accounts still only able to send to the same name accounts? It's not like a bank account.

 

[Pschiff]

Is Qenta accounts still only able to send to the same name accounts? It's not like a bank account.

Yes, they can send funds to the beneficial owner. I'm just not sure if they can send to third parties yet, as they are not a bank. That is one reason Qenta wanted to buy Euro Pacific Bank. But OCIF wouldn't let them. The Commissioner preferred putting the bank into receivership instead, and rejecting the $7 million in additional capital Qenta had committed to contribute to the bank.

 

[Radko]

The way it's going I doubt I will recover one dime out of the $10 million plus I personally put into the bank, $7 million of which was contributed in 2021 and 2022 to cover losses incurred as a direct result of the 60 Minutes defamation. I did this to protect customers and to make sure the bank always had more than enough cash to pay all bills and cover 100% of customer deposits.

I really hope you get a lot of money from those hypocrites and you recuperate all the money that you lost with this ordeal, that would be such a sweet ending and vindication.

 

[Pschiff]

I really hope you get a lot of money from those hypocrites and you recuperate all the money that you lost with this ordeal, that would be such a sweet ending and vindication.

That would be great, but under Australian defamation law I highly doubt that. I will win my lawsuit, but the monetary judgement I receive will likely be very small in relation to what I lost. Had I known this, and realized how much I was going to lose, I would have sued 60 Minutes in America rather than the U.S. I would have had a higher burden of proof, but I have overwhelming evidence to meet that burden. I would likely have won a much larger judgement in U.S. courts, but it would have been harder to collect.

 

[orion7352]

Yes, they can send funds to the beneficial owner. I'm just not sure if they can send to third parties yet, as they are not a bank. That is one reason Qenta wanted to buy Euro Pacific Bank. But OCIF wouldn't let them. The Commissioner preferred putting the bank into receivership instead, and rejecting the $7 million in additional capital Qenta had committed to contribute to the bank.

I thought it wasn't possible to have a corporate account at Qenta and send it to your personal account as beneficial owner. I think I would need to get concrete proof of that to opt-in . I am currently opt-out. If it's still possible to switch.

 

[Pschiff]

I thought it wasn't possible to have a corporate account at Qenta and send it to your personal account as beneficial owner. I think I would need to get concrete proof of that to opt-in . I am currently opt-out. If it's still possible to switch.

I'm not sure.

 

[Radko]

That would be great, but under Australian defamation law I highly doubt that. I will win my lawsuit, but the monetary judgement I receive will likely be very small in relation to what I lost. Had I known this, and realized how much I was going to lose, I would have sued 60 Minutes in America rather than the U.S. I would have had a higher burden of proof, but I have overwhelming evidence to meet that burden. I would likely have won a much larger judgement in U.S. courts, but it would have been harder to collect.

Have you exhausted all possible avenues to get them to pay for what they've done?
Is it impossible to sue them now in a U.S. court?
You have a great case against them, it will take time to go through the system but at then you'll collect, I would check with the lawyers in case there is something else that you can use to go after them, they need to be buried.