Euro Pacific bank is a scam

[Feisty]

And btw I have read all of the posts here and across the internet and even though Mr Schiff should not have a direct connection, he obviously is having a direct connection as he has already mentioned in this forum several times conversations with the receiver.

 

[Pschiff]

Ok you made your point.

Let's hope you get your money back at some point.

No one used EPB to evade taxes or launder money. Our compliance was far too rigorous. We lost hundreds if not thousands of customers over the years from law abiding depositors who did not have the patients to put up with our excessive compliance. Those who did put up with it did so for all the other valuable services we provided.

 

[btc100k]

No one used EPB to evade taxes or launder money. Our compliance was far too rigorous. We lost hundreds if not thousands of customers over the years from law abiding depositors who did not have the patients to put up with our excessive compliance. Those who did put up with it did so for all the other valuable services we provided.

How can you say no one? Just a few months ago one of your customers got indicted for tax evasion. He opened an account at EPB using a fake passport. How was that possible given that your compliance was far too rigorous?

 

[Feisty]

No one used EPB to evade taxes or launder money. Our compliance was far too rigorous. We lost hundreds if not thousands of customers over the years from law abiding depositors who did not have the patients to put up with our excessive compliance. Those who did put up with it did so for all the other valuable services we provided.

A lot of customers used your Bank @Pschiff to evade taxes and Launder money. When all of this is over, and if customers get their money back I’m sure the stories related to your bank will continue to show up across media outlets. They’ve already closed your bank and this is not the end of the story. You are the biggest shareholder and only person responsible for this mess. Anything you say will no longer make a difference, the damage has been done. Admit some responsibility for this and find a solution, but don’t continue to deny the obvious, as I am a still a client of yours and my only desire is to end this as soon as possible.

 

[Pschiff]

Come on @Pschiff, don’t try to deny it. You know it, the customers know it, and the UK government knows you have a lot of tax evaders and money laundering at your bank, especially tax evaders from Europe. Your bank even helped customers with the setup as long as they moved their funds to your bank. I wouldn’t be surprised if customers shared this information with 60 seconds to recover the funds lost from this useless inexistent liquidation. I most probably would do the same if that helps recover lost funds from your useless bank.

The uk customers did not comit any other crime except for evading taxes. Don’t change the subject. The bank new this and did nothing as long as they were not committing any crime in Puerto Rico. You have hundreds of customers who are evading tax. Thats a fact and thats why they closed your bank as well as the inefficient funds.

insufficient funds sorry

If we had so many customers evading taxes, why didn't the any of the 7 governments who investigated the bank for over two years find a single example? For its size, I'd say no bank in the world has been the subject of more investigations for money laundering or tax evasion than mine. Every investigation came up empty. Why do you think a massive criminal investigation didn't result in a single charge being filed against anyone? It's because the bank was completely innocent.

And btw I have read all of the posts here and across the internet and even though Mr Schiff should not have a direct connection, he obviously is having a direct connection as he has already mentioned in this forum several times conversations with the receiver.

Yes I can make recommendations to the receiver, and complain about what he is doing. But that's about all I can do.

Yes, I hate Mr schiff because I have lost a lot of money in this bank. I say lost, because up to this day I have not recovered a single penny of it. And I will continue to spew crap in this forum, as you call it, whiles this person continues to not provide solutions but more crap to support his case and increase his ego. He has provided nothing, no solution, no result, nothingggggg. Absolutely nothing, but blaming everyone else, and in turn has convinced people like you that he is doing the right thing because he is providing information in thos forum. Come on wake up! Really???? Is that the way to go??? If he was anything near legit, he would not be providing info with sugar on top in a bloody forum, he would be providing this information through the banks legit communication channels (especially after so many complaints) Remember not all customers are aware of this forum. So whiles I am here and the forum allows me to be here, every time I here Mr Schiff spew excuse after excuse I will respond to his crap. I will respond because I as a customer believe he is a lier and a scam. He should have shut the bank and stopped blaming everyone for this bad ordeal. In relation to tax evasion, I will 100% blame him for being a bank that has helped customers evade tax. Of course I will, because I am one of those customers. Sadly not because I wanted to. Thats something, as you say I will have to live with, and I have my own reasons why I had to do it, and for obvious reasons I will not share in a public forum. I have bared the fines from my home country, and as you say I should blame myself for it. But I also think that Mr Schiff is also too blame or even more to blame because like me there are other customers and I as other customers (this is a fact) because other friends opened accounts too, were NEVER EVER EVER rejected to open the account. On the contrary, we were more invited to open an account knowing we were evading taxes in our home country. Not only that we were offered the services through external partners to setup an offshore company and everything to do with the setup and then consequently a bank account. We have also been always reassured this was legal and this was ok. Our ignorance at the time was 100%, but we did think we were legally opening an account as the bank reassured us time and time again. So I blame Mr Schiff, his colleagues Anderaon, Andrew Murry or what ever his name was and the whole bank because they took advantage of a lot of us as customers when we opened an account through external partners. So to come here, to this forum and pretend EPB bank was not helping customers evade taxes is absolute crap. As I said before, I don’t blame customers being angry. And yes I am to blame 100%. But this guy @Pschiff is the biggest liar I know after reading about him. This guy is obsessed with not paying taxes, thats why they inprisoned his father. This guy has taken advantage of all of us, all customers for opening a bank account in Puerto Rico and evading taxes in our home countries.
Yes, I was and most probably still am naive and yes I am to blame, and yes its my problem, and no I won’t sue a shareholder. But what I can do is to tell the truth about the bank, Mr Schiff and if possible recover from my losses. I’m all for a solution @spartan7510 100%. But I’m not all for listening to this thief and liar Mr Schiff. Put it how you like @spartan7510, the reality is more than 1 year has gone past and we have advanced absolutely nothing, and it kills me to hear people like you defend this guy. Mr Schiff has provided zero information, only noise. And yes I do hope he goes to prison like his father and I do hope he takes responsibility for his bank as I will do for evading taxes. And by the way I would prefer @spartan7510 if you did not call me a clown. I have not insulted you. I could be stupid, naive, I’m most probably have only to blame for my wrong actions, as many other customers. But Mr Schiff has too blame even more, because even after not closing the bank on time and returning money to customers, he still has the balls to come here and blame everyone and pretend his bank did not commit any ilegal actions. Come on… really?? This bank was the only bank in the world making it dead easy to open a bank account online and evade taxes in Australia, Europe and many other places. It was the only real cheap option! And Mr Schiff new exactly what he was doing. Like his father, he thought he could take his war against the system and powers above.
I think I’ve said enough, most probably too much. But come on, this guy is the biggest con man alive, opening a bank in one of the most corrupt countries.
Solutions? Be my guest @spartan7510. Only solution I have now is to wait, and if the waiting gets too long, I will make sure 60 seconds or anyone else who wants this story get their part 2 of this story with facts, phone calls and everything they need to make sure I hedge my losses and Mr Schiff receives and accepts part of his responsibility.

The bank was never marketed as a means of evading taxes. On the contrary, if you had an account you know we asked you to certify that you were complying with all of your local tax laws. Then we had a robust KYC program to make sure that you were. I sold the bank in Nov of 2022. Qenta rejected the sale in June of 2022, and put the bank into receivership. I offered to liquidate the bank myself, and return all funds to customers, but OCIF refused. The Commissioner insisted on taking control of the bank away from me, and giving it to the receiver. Prior to that I didn't even run the bank. I was just a shareholder. Mark Anderson was the President. He ran the bank. Bu he died of a heart attack last year, at the age of 64. I believe all the stress that resulted from all the false allegations of money laundering and tax evasion led to that heart attack. You may have temporarily lost access to some of your money. But Mark lost his life. Also, I lost $25 million, so I am an even bigger victim that you are.

 

[regi]

You may have temporarily lost access to some of your money. But Mark lost his life. Also, I lost $25 million, so I am an even bigger victim that you are.

I understand the meaning of your words above. It's like: chill out, it could be worse. I don't think we should go this way. Each person here feels his case on his own way. The fact that someone lost life due to a heart attack or lost 10% or 30% of net wealth is nothing compared to thousands of similar, innocent cases. We all were in the bus, that was on collission course. Without influence on anything in terms of avoiding the tragedy. There could have been thousands post tragedy victims, that survived the crash. Heart attacks caused by losing home, wife, money, sons, daughters, whatever. There could also be many suicides due to lack of money, too much pressure in life, a lot of stress, unstable ground. We all experience some kind of tragedy here, living in stress, in depression, continously on pills, after the first heart attack and before the second, perhaps the last one, after suicide - no longer present in the modern world. There are cases where the loss is like over 90% of the lost net wealth. All because the bank is the last resort that should fall. Who wuold predict it. Maybe that was it. Bring as many victims to the edge as possible. Keep hands clean and take what's left. There are cases when money = 0, and the house is waiting for sale - formally homeless. Every case is as serious as the survivor can take on his shoulders. Let's not compare.

 

[Pschiff]

I understand the meaning of your words above. It's like: chill out, it could be worse. I don't think we should go this way. Each person here feels his case on his own way. The fact that someone lost life due to a heart attack or lost 10% or 30% of net wealth is nothing compared to thousands of similar, innocent cases. We all were in the bus, that was on collission course. Without influence on anything in terms of avoiding the tragedy. There could have been thousands post tragedy victims, that survived the crash. Heart attacks caused by losing home, wife, money, sons, daughters, whatever. There could also be many suicides due to lack of money, too much pressure in life, a lot of stress, unstable ground. We all experience some kind of tragedy here, living in stress, in depression, continously on pills, after the first heart attack and before the second, perhaps the last one, after suicide - no longer present in the modern world. There are cases where the loss is like over 90% of the lost net wealth. All because the bank is the last resort that should fall. Who wuold predict it. Maybe that was it. Bring as many victims to the edge as possible. Keep hands clean and take what's left. There are cases when money = 0, and the house is waiting for sale - formally homeless. Every case is as serious as the survivor can take on his shoulders. Let's not compare.

Yes, I agree. A lot of people have been made to suffer needlessly by government. About half the accounts closed in the two years following all the false allegations made by the media. At least they got out before the government stepped in to finish the job. It's not a question of who lost the most. People just need to stop blaming me for actions over which I had no control, and tried my best to prevent.

 

[btc100k]

Peter Schiff will never admit that he is at fault. He is blaming it on politics. That is the same excuse his father used when he was thrown in prison. It's a convenient excuse but it's also a lie.

If you don't get 100% of your money back I think you should pursue legal action against Peter. He said on Twitter his networth is over 80 million USD. So he definitely has the $$$ to cover your losses.

 

[Feisty]

No false allegations @Pschiff. My friends and I as customers can support this is not true. We all know this now, I know it, you know it, J5 can’t simply walk into a bank and request all customers statements according to Puerto Rico banking laws, similar to other international laws without evidence. And if they do have evidence they have to request information for a particular customer, similar to Switzerland. It will only be a matter of time though before they do get evidence, and things will turn out a little bit more red for you and a lot of customers. Are you really trying to convince me that J5 were ignorants and simply made a mistake? Do you really believe that? Not having evidence doesn’t mean they were wrong. If not they would have not closed your bank. You had a lot of KYC yes, especially making sure we paid our taxes . How did you do that exactly? Hey mate are you paying your taxes? Who are you trying to kid? But still you and your bank opened an account for me. A little bit of a contradiction here.

Hey i just realised its July 6th today. Oh and what a surprise, the bank once again hasn’t stuck by their commitment. Their pledge to close the banking services on June 30th, but surprise surprise website it still going hard. Especially now when we need it most. Thank you EPB and Mr Schiff again for those wonderful words and false commitments that seem to fly into thin air. Every day I have more confidence in your words and EPB.

Are you really expecting people to believe @Pschiff that 7 governments looked at all the details of all your cuatomers? Really? They saw my accounts, my balances, my nationality, my residence? If so why was this not communicated to customers??? I’ll tell you why, because those 7 governments you mention never have had access to that customer information. Because if they did, you and everyone here know the resulta would have been much more catastrophic for you, your bank and customers. So stop pretending 7 nations did a full investigation on customers, accounts, residency, etc.. Especially when your biggest marketing banner says privacy assured. Puerto rico not part of CRS. We do not exchange information…. Bla bla… your words are contradicting again.

 

[jafo]

Yes, I agree. A lot of people have been made to suffer needlessly by government

I have NO dog in this fight, Peter. But here is when you MUST have a list of names & contact information to replace the word "government".

 

[Pschiff]

No false allegations @Pschiff. My friends and I as customers can support this is not true. We all know this now, I know it, you know it, J5 can’t simply walk into a bank and request all customers statements according to Puerto Rico banking laws, similar to other international laws without evidence. And if they do have evidence they have to request information for a particular customer, similar to Switzerland. It will only be a matter of time though before they do get evidence, and things will turn out a little bit more red for you and a lot of customers. Are you really trying to convince me that J5 were ignorants and simply made a mistake? Do you really believe that? Not having evidence doesn’t mean they were wrong. If not they would have not closed your bank. You had a lot of KYC yes, especially making sure we paid our taxes . How did you do that exactly? Hey mate are you paying your taxes? Who are you trying to kid? But still you and your bank opened an account for me. A little bit of a contradiction here.

Hey i just realised its July 6th today. Oh and what a surprise, the bank once again hasn’t stuck by their commitment. Their pledge to close the banking services on June 30th, but surprise surprise website it still going hard. Especially now when we need it most. Thank you EPB and Mr Schiff again for those wonderful words and false commitments that seem to fly into thin air. Every day I have more confidence in your words and EPB.

Are you really expecting people to believe @Pschiff that 7 governments looked at all the details of all your cuatomers? Really? They saw my accounts, my balances, my nationality, my residence? If so why was this not communicated to customers??? I’ll tell you why, because those 7 governments you mention never have had access to that customer information. Because if they did, you and everyone here know the resulta would have been much more catastrophic for you, your bank and customers. So stop pretending 7 nations did a full investigation on customers, accounts, residency, etc.. Especially when your biggest marketing banner says privacy assured. Puerto rico not part of CRS. We do not exchange information…. Bla bla… your words are contradicting again.

The accounts where accessed pursuant to a Grand Jury subpoena by the U.S. justice department. The bank was required by law to comply with that subpoena. Initially the government wanted information on every account the bank had. The bank's attorney was able to narrow the scope of the investigation to about 2,000 customers. The bank supplied the government with over 800,000 pages of documents related to those 2,000 accounts. The information was shared with other J5 countries. It took about two years to complete the investigation. The government found no evidence that the bank or any of those customers did anything wrong. The criminal investigation ended without any charges filed against anyone.

 

[Marie Manila]

Why are we constantly making accusations here instead of searching for a joint solution?
Since Peter is here and we have a direct contact, this is the best place to work together on a solution.
At least we get information that we wouldn't get elsewhere.

But some people only seem to want to make accusations.
It doesn't help any of us to blame anyone. Whatever has happened, has happened. We have to look to the future, not to the past!

 

[Feisty]

@Marie Manila no one is stopping you or @spartan7510 from finding a solution. Go ahead, find a solution with @Pschiff, if you think thats a great strategy amd he is so valuable. Let’s not forget a year has gone past and @Pschiff has offered non real solution. Personally I think its a strategy. And I’m for getting together with customers to find that solution, getting a lawyer, and pressure OCIF and the receiver. I don’t think Mr Schiff from his past history is going to offer any solution ever. He only wants to protect his brand. So, yes I totally agree, but not with Mr Sciiff, I think it would be a waste of time. He’s been part of the problem until now and will continue to be.

And btw they are not accusations, they are facts.

 

[Pschiff]

@Marie Manila no one is stopping you or @spartan7510 from finding a solution. Go ahead, find a solution with @Pschiff, if you think thats a great strategy amd he is so valuable. Let’s not forget a year has gone past and @Pschiff has offered non real solution. Personally I think its a strategy. And I’m for getting together with customers to find that solution, getting a lawyer, and pressure OCIF and the receiver. I don’t think Mr Schiff from his past history is going to offer any solution ever. He only wants to protect his brand. So, yes I totally agree, but not with Mr Sciiff, I think it would be a waste of time. He’s been part of the problem until now and will continue to be.

And btw they are not accusations, they are facts.

I am not part of the problem. I have had nothing to do with the bank since it went into receivership over a year ago. I don't know why you don't understand that. All OCIF allowed me to do was work with the landlord to terminate the office lease early, sell the bank's furniture, and arrange the sale of the opt ins to Qenta. The sale to Qenta at least gave customers options, and the bank extra capital to further safeguard deposits. The only role I have now is to wait for the receiver to finish the liquidation process, and for him to send me a check for any funds that may remain once the process is complete. Mentally I've already written everything off as I no longer expect to receive anything.

 

[orion7352]

Ok guys chill out. Even if you don't agree with what someone says they still have the right to say it. Personal insults are not required. I will be handing out warnings if it continues. So keep emotions in check please.

Why are we constantly making accusations here instead of searching for a joint solution?
Since Peter is here and we have a direct contact, this is the best place to work together on a solution.
At least we get information that we wouldn't get elsewhere.

But some people only seem to want to make accusations.
It doesn't help any of us to blame anyone. Whatever has happened, has happened. We have to look to the future, not to the

I totally agree with you Marie we need to stop the fighting and work together to get our money back. Unfortunately it's taking longer than I thought in finding a good lawyer who wants to represent EPB customers.

Everyone should keep emailing OCIF , the Regulator outlining your distress and opposing the rumoured bad plans of the Receiver.

[email protected]

 

[Martin Everson]

No one used EPB to evade taxes or launder money.

Ok.....

 

[Pschiff]

Ok.....

Well the largest multi-country money laundering and tax evasion investigation in history didn't uncover a single example. So if anyone was using their EPB account for those purposes they did an excellent job of covering their tracks.

 

[Feisty]

I totally agree with you Marie we need to stop the fighting and work together to get our money back. Unfortunately it's taking longer than I thought in finding a good lawyer who wants to represent EPB customers.

Everyone should keep emailing OCIF , the Regulator outlining your distress and opposing the rumoured bad plans of the Receiver.

[email protected]

Thanks @orion7352, I’ve sent a few letters to that email, to the other general one posted in this thread and to the receiver. I will continue sending a few more. Has anyone had any luck getting a response feom OCIF in any way. I know the receiver has never answered to emails or phone calls as a fact, because I have phoned a hundred times and I always get the lady saying the receiver will get back to me. Since EPB sent their first communication the receiver has not returned a single call. I have told OCIF this but I haven’t received a reply either. Anyone received a response from OCIF yet? Thanks

The accounts where accessed pursuant to a Grand Jury subpoena by the U.S. justice department. The bank was required by law to comply with that subpoena. Initially the government wanted information on every account the bank had. The bank's attorney was able to narrow the scope of the investigation to about 2,000 customers. The bank supplied the government with over 800,000 pages of documents related to those 2,000 accounts. The information was shared with other J5 countries. It took about two years to complete the investigation. The government found no evidence that the bank or any of those customers did anything wrong. The criminal investigation ended without any charges filed against anyone.

Yeah you sent them all the info on the only 2000 customers that weren’t evading taxes or laundering money.

 

[btc100k]

Well the largest multi-country money laundering and tax evasion investigation in history didn't uncover a single example. So if anyone was using their EPB account for those purposes they did an excellent job of covering their tracks.

This is direct from the IRS website:

“In a recent court case a suspect was convicted to a multi-year prison
sentence. This suspect was sentenced for several different crimes during which he had also used the
bank centered in the Atlantis operation for money laundering. Together with the Netherlands Tax
authority the Atlantis information is being used to stop tax crime. Other investigations against
suspects that held accounts with this bank have recently been started."
---------
How do you know when Peter Schiff is lying? When his lips are moving.

 

[JoeOhNo]

This is direct from the IRS website:

“In a recent court case a suspect was convicted to a multi-year prison
sentence. This suspect was sentenced for several different crimes during which he had also used the
bank centered in the Atlantis operation for money laundering. Together with the Netherlands Tax
authority the Atlantis information is being used to stop tax crime. Other investigations against
suspects that held accounts with this bank have recently been started."
---------
How do you know when Peter Schiff is lying? When his lips are moving.

To be honest there have been 1 case or 2 Ive heard so lets be real. That doesnt seem like a major phenomenon in EPB