The person in charge of the liquidation is Wigoberto Lugo Mender.Does "he" have a name?
https://lugomender.com/
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Euro Pacific bank is a scam
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https://lugomender.com/
Why isn't everyone here sending him an email, posting on Twitter, IG, facebook, Trustpilot, complaining to the BAR, calling his offices, calling the courts, calling his neighbors, etc etc EVERY.SINGLE.DAY?
How many are you? A few thousand people? That guy will be forced to wrap up his work.
Like WTH?
Does "he" have a name?
Wigberto Lugo Mender, bankruptcy lawyer, Puerto Rico.
EPB was not FDIC, had it been FDIC this would have never happened.
The mistake was believing that a full-reserve Bank was the safest option, but it turns out that EPB wasn't doing things properly, they were not complying with the requirements to keep their license active, so OCIF closed the bank, and here we are paying the price (as always innocent people always pay the consequences).
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Well...Why isn't everyone here sending him an email, posting on Twitter, IG, facebook, Trustpilot, complaining to the BAR, calling his offices, calling the courts, calling his neighbors, etc etc EVERY.SINGLE.DAY?
Social media is irrelevant in these cases. TrustPilot is almost always meaningless, and especially so when it comes to law firms and bank liquidators.
The bar association can only intervene if the person is doing something illegal or unethical. You can lodge complaints with them, though. It's unlikely to go anywhere since the complaints are coming from people without a direct relationship with the lawyer and it's not a high profile case affecting Puerto Ricans or US persons. (EPB was using non-exposure to US persons as an unspoken selling point. Now we see some of the side effects of that.)
Calling neighbors is simply harassment. Doing that would give the liquidator cause for concern, in which case their personal safety takes priority over sorting out EPB.
Forced by what, though? The fury of non-resident non-citizens?
The only instance that can help here are the courts of Puerto Rico. Harassing or shaming the liquidator or the regulator won't work. Only a court can compel them legally to do anything.
I understand your concerns vis-à-vis my "tactics," but having been a "fly on the wall" for almost 20 years, I can assure you that these are the ONLY tactics that work. Self-preservation is THE ONLY motivator!
Also, I'm NOT proposing to call a neighbor to harass the neighbor. Au contraire, I'm just calling to do a ***Welfare/Wellness check on Mr. Wigberto Lugo Mender since he doesn't answer anyone and doesn't show signs of life, so I am concerned about his well-being.
PS. If I only shared the database of tactics law enforcement (affirmed by court decisions siding with LE) uses to sugarcoat "legal harassment," I think most people would have a heart attack.
*** What Is a Police Welfare Check? | The Law Dictionary
Why isn't everyone here sending him an email, posting on Twitter, IG, facebook, Trustpilot, complaining to the BAR, calling his offices, calling the courts, calling his neighbors, etc etc EVERY.SINGLE.DAY?
How many are you? A few thousand people? That guy will be forced to wrap up his work.
Like WTH?
Would he not "have to" hire help to handle all the emails and then charge us 25million dollars in "administration fees"I understand your concerns vis-à-vis my "tactics," but having been a "fly on the wall" for almost 20 years, I can assure you that these are the ONLY tactics that work. Self-preservation is THE ONLY motivator!
Also, I'm NOT proposing to call a neighbor to harass the neighbor. Au contraire, I'm just calling to do a ***Welfare/Wellness check on Mr. Wigberto Lugo Mender since he doesn't answer anyone and doesn't show signs of life, so I am concerned about his well-being.
PS. If I only shared the database of tactics law enforcement (affirmed by court decisions siding with LE) uses to sugarcoat "legal harassment," I think most people would have a heart attack.
*** What Is a Police Welfare Check? | The Law Dictionary
I see where you're coming from, but we're not talking about normal private businesses here, though. We're talking about a government body (OCIF) and a liquidator appointed by OCIF. Business intimidation tactics have no impact. They mean nothing. If it did work, similar liquidations like Loyal Bank and Choice Bank wouldn't have taken 3+ years. People were just as — if not more — upset when those banks crashed.
The only motivation the OCIF has is to follow the law and, in order to save face, they have to see this through even if it might've been a mistake. The liquidator answers to no one other than OCIF. OCIF answers to the government of Puerto Rico and to the courts of Puerto Rico.
Lugo Mender isn't going to lose sleep over some bad TrustPilot review, hashtags on Twitter, and salty memes. Why would he? What's he got to gain from appeasing non-resident non-citizens vs. continuing to work on the liquidation? Even this thread has had no measurable/direct impact despite being full of posts.
BTW, has anyone actually seen EPB's financials? Does the public have a sense for how complex the liquidation might be? Had the bank ever simulated disaster scenarios and prepared for something like this? Or are we just trusting Peter Schiff that everything was hunky-dory because he's a cool anti-government guy that doesn't afraid of anyone?
If this is going to take 3+ years, the Receiver is going to make a lot of money and we are going to lose a lot of money, a lot!
We can see on the liquidation statements published by the Receiver that he is in control of 110 million, but 29 million remain to be collected from Novo Bank in Portugal.
We don't know if that is all the money that customers had at EPB, or if there is money missing. In other words, we don't know how much money customers have deposited at EPB, and if the 110 million will be enough.
We also don't know how much money EPB had, so we don't know at what point the Receiver will start spending customer's money, but I don't think EPB had a lot of money, maybe 1 or 2 million maximum, and the Receiver has spent 1.2 million so far.
That's good and gives us an idea of what's going on currently. But it's not quite the same as looking at EPB's actual financials (not just statements).
I'm not saying that to defend the liquidator. There's no doubt in my mind that the process could be significantly more efficient. But winding down a bank is complicated, especially one that has never prepared for a disaster scenario, and the liquidator has to essentially reverse engineer the whole bank.
Just to say to all that it would be wise not to harass or interfere with the liquidator. Any customer threats or intimidation aimed any liquidator and he is well within his rights to pay for round the clock security etc out of your money. Anything you do that interferes with his duties you will foot the bill. Also nothing motivates someone to slow walk a procedure than creating animosity. It could then easily be years more before you see anything if he decides to slow walk the process. As I explained before, bank liquidations are costly and can be a very long process.
That's NOT what I meant at ALL!
I meant constant pressure on the liquidator, within the purview of Puerto Rico and US federal laws, and doing it publicly so there would be no misinterpretations!
My motto has ALWAYS been: *ALWAYS assume you are being monitored by the feds and an active Grand Jury*. Act accordingly!
PS. I have no dog in this fight, but this whole issue is a good experience to learn from. I'm thankful to all of you who took one for the team.
Puerto Rico is a Mecca of corruption, much worse than Mexico has ever been.
Receiver is taking monthly income close to 20k, what is still acceptable. But the expenses are more than 1M annually and today he has wasted our funds about 2M according the published spending reports, which we can all review. I am not surprised that the interest rate from 68M (Novo Banco) goes directly his private bank account.
Recently he bought yacht and luxury apartment in downtown of New York. He is enjoying the high class Jet Set lifestyle and is proud to show it in all international social groups, TikTok, Facebook, Instagram etc.
Receiver is untouchable and he can use our funds (EPB) without any limit to protect himself for any legal proceedings including class action lawsuit.
What options we have to get our funds back.
1. US based lawyer, expert in Banking and Finance Law of PR&US
2. Media&Journalist in PR, US and worldwide
3. FBI’s International Corruption Unit.
https://www.fbi.gov/contact-us/field-offices/albuquerque/report-public-corruption
https://www.fbi.gov/investigate/public-corruption/international-corruption
Receiver is taking monthly income close to 20k, what is still acceptable. But the expenses are more than 1M annually and today he has wasted our funds about 2M according the published spending reports, which we can all review. I am not surprised that the interest rate from 68M (Novo Banco) goes directly his private bank account.
Recently he bought yacht and luxury apartment in downtown of New York. He is enjoying the high class Jet Set lifestyle and is proud to show it in all international social groups, TikTok, Facebook, Instagram etc.
Receiver is untouchable and he can use our funds (EPB) without any limit to protect himself for any legal proceedings including class action lawsuit.
What options we have to get our funds back.
1. US based lawyer, expert in Banking and Finance Law of PR&US
2. Media&Journalist in PR, US and worldwide
3. FBI’s International Corruption Unit.
https://www.fbi.gov/contact-us/field-offices/albuquerque/report-public-corruption
https://www.fbi.gov/investigate/public-corruption/international-corruption
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Here, my friend, you are TOTALLY mistaken! Puerto Rico is NOT a place I would f*ck around in. I won't comment more on this, but yes...
The FBI routinely snags Puerto Ricans on a daily and delivers them to the FDC building in Miami and the MCC building in New York...including, but not limited to, politicians, lawyers, and judges.
They have a penchant for arresting Puerto Ricans. Ohhhh...and once the feds handcuff someone...it's over in 99.99% of the cases, and even if a defendant is acquitted by a jury in a trial, he STILL loses! I know this personally!
Puerto Rico is one of the most corrupt places on planet earth.
Now I know this one personally and I learnt my lesson.
Most of the lawyers in PR are not happy to help as they are afraid about the OCIF and once you find one who agrees to assist you, the lawyer just collect your money with lies and broken promises.
The corruption is so deep-rooted and every where in PR, that you can possible image.
Now I know this one personally and I learnt my lesson.
Most of the lawyers in PR are not happy to help as they are afraid about the OCIF and once you find one who agrees to assist you, the lawyer just collect your money with lies and broken promises.
The corruption is so deep-rooted and every where in PR, that you can possible image.
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