I don't agree. The closure of the EPB account was the objective achieved by those who wanted it closed. Because it is distasteful and unacceptable to us does not mean that a social media campaign won't work. In fact it actually proves the opposite of what you say.
Yes, Novo bank cited false media reports that the bank was closed due to money laundering and
tax evasion in a SAR they sent to the Portugese government following the wire requests we submitted to return funds to opt out customers. Based on the false statements in that letter, the Portuguese Government froze the account. I tried to get the
Puerto Rico government to clear up the confusion, but they refused to do so. They eventually did send a letter but by the time they did the 8 months was almost up anyway. I think OCIF was under pressure not to publicly say anything to refute the false narrative that the bank was shut down for money laundering and tax evasion, to help the Australian media company defend against my defamation lawsuit, and so the J5 could keep pretending that its failed Atlantis investigation was a success. During that 8 month delay, they bank lost its ability to easily send out the wires. The incompetent Receiver refused to follow the former bank staff's directions on how to get the wires sent out. The staff moved to Qenta in preparation for the transfer of the Opt in accounts.
I believe the employees went to work for Qenta, not all of them, some left, so I guess Qenta is paying them.
But they're many unanswered questions, and it's obvious that the Receiver doesn't feel the need to keep us informed.
And where is Peter Schiff? He is the owner of the bank after all...
In my humble opinion keeping us informed is the least that we deserve.
I own the bank in name only. I have no control over anything, and have lost every penny of the $10 million I personally contributed to the bank's capital. There is nothing I can do. Also, based on my agreement I am not even able to publicly disparage OCIF. So doing that is up to the customers. OCIF is the real reason for the delay and was the cause of the problem, though OCIF was likely pressured by the
IRS, the J5, and the Australian media to take the actions that it did.
Happy to discuss existing legal action on a confidential basis here
[email protected]
I've done what I can and I have provided information to the group that hired a lawyer.
Hi,
The Receiver is a lawyer appointed to liquidate EPB, he is in charge of getting out money back, but he is not keeping us informed.
Most of the funds were deposited at Novo Bank in Portugal, that's where most of the money is.
We don't know much more....
If it's not too much money I'm willing to chip in, unfortunately all my life's savings were deposited at EPB, I thought my money was safe at a full reserve bank, clearly I was wrong. I never accounted for the fact that EPB was not keeping up with the regulatory requirements needed to keep their license active.
If I don't get any of my money back I'll be in serious trouble, I guess I'll have to work until the day that I die.
The bank kept up with all the legal requirements. It did nothing wrong. It was the regulators that were in the wrong. Its also possible that the IRS targeted the bank because it was 100% reserve and allowed customers to keep their deposits in gold. I am still trying to get the U.S. Congress to look into the IRS's role in blocking the sale of the bank to Qetna and forcing OCIF to unnecessarily put it into receivership.
Hello Everyone,
sorry I have joined late this group, can anyone please explain me the basics of what is happening? or point me to where is already explained? I understand that the country authorities have forced all this, EPB is maybe victim or maybe not, we don't know really. But who or what is the receiver? and where we think it is the money at the moment? And who should act to unblock?
Sorry if silly questions
thanks
Mike
Yes we are all victims. Qenta had agreed to pay me $25 million in
cash and stock for the bank. They had also agreed to add $7 million in cash to the bank's capital. OCIF refused to allow the transaction. So I lost that $25 million, and customers lost access to their funds. I also lost the $10 million in capital I invested, and Mark Anderson, my partner and the bank's president was the biggest victim. He lost his life due to the stress.