Euro Pacific bank is a scam

[danielboros]

How do you know its a "tiny" number? These are only the public known cases? The figure is for sure much higher as there are also pending investigations in other EU countries. For months you claimed there are no investigations and now you say its just a "tiny" number. It was one of the selling points of your "introducers" to advertise EPB as a bank in a non-CRS country, who do you think you would attract with such advertisement?

EU countries investigating everyone who had an account at EPB. The fact that they are being investigated means nothing at all.
If EPB customers were any worse than any customer of any other bank then J5 should publish how much EPB customers owed the government before 2022 in unpaid taxes. Someone who misssed a deadline and has a $50 unpaid fine is different from someone who forgot to pay half a million dollars in taxes. Both would be counted as one tax dodger by the J5.

 

[Pschiff]

None of the accounts are frozen.

 

[SCHLOSSFINANZ]

sorry but you don't know this because you don't have access to the receiver you are not part of the management and you don't know how criminal investigations work in Europe! These people had bank accounts because they believed in your brand "Peter Schiff" at your bank otherwise they would have not banked with a non-insured IFE in a banana republic. It's really annoying that you don't accept that you had your fair share in this mess.

 

[danielboros]

When Synapse failed the FDIC protection didn't amount to much.

 

[SCHLOSSFINANZ]

FDIC would have never accepted EPB as a member anyway. Compare it with the Flowbank liquidation, everyone had his deposits below 100,000 CHF in a matter of 3 weeks.

 

[danielboros]

FINMA is probably not bankrupt which is a big difference. Also Flowbank was allowed to increase its captial to avoid bankrupcy. I guess if we take the story of EPB into account that might have been a lie and they were forced into receivership just like everyone else.

 

[SCHLOSSFINANZ]

You are grossly misinformed. No one is corrupt here, they are just not competent. This corruption saga is just a made up story from PS.
And Flowbank was not allowed to increase capital. FINMA and the Deposit Protection scheme are different entities. FDIC has nothing to do with OCIF and vice versa.

 

[Martin Everson]

If Qenta has received the opt-in assets from EPB as Peter said, can any opt-in customers confirm that Qenta has communicated [receiving of assets] to them or better still have they received access to their assets on the platform?

P. S I am just asking out of an abundance of caution as CEO has been involved so far with three companies that have gone bankrupt in last 2 years that we know off so far. I also have not seen any audited financials to alleviate ones concerns .

 

[danielboros]

@SCHLOSSFINANZ They are corrupt. Name one more bank that got dragged through the mud by an army of reporters in at least three continents while never being charged with anything.

@Martin Everson Quenta did not contact me regarding anything including my assets they should now be in possession of. I doubt that Quenta is allowed to confirm or deny if they have the assets or not.

 

[SCHLOSSFINANZ]

I don't believe there are audited financials. Also I was not able to independently verify that they are regulated anywhere.

Countless banks have been closed by OFIC in the last 2 years. The most prominent is Bancredito Bank which also got a lot of media attention.

 

[Martin Everson]

I doubt that Quenta is allowed to confirm or deny if they have the assets or not.

You think they cant until whole liquidation process is over?

 

[danielboros]

Well I remember reading something to that effect in the liquidation papers. If Lugo can't say then neither can Quenta, probably.

 

[Martin Everson]

Well I remember reading something to that effect in the liquidation papers. If Lugo can't say then neither can Quenta, probably.

But Peter announced it below. Have you asked Qenta about this?

Qenta would be happy to sit on your assets for a long time at IB's overnight rates I guess.

Qenta got all the gold that was in storage, plus millions in cash that had been transferred to IB.

 

[James123456]

2nd of August 2024: Novo bank has released all money and they have been sent to the receiver (to Axos bank): https://epbprliquidation.com/wp-con...Receiver-Report-on-Work-Performed-Q2-2024.pdf - first line on page 4.

 

[SCHLOSSFINANZ]

finally, money received so maybe this year its concluded

 

[Vqn]

What great news ! As I read the two latest reports there are only missing 936,314 USD out of 112,911,361 USD yet to be retrived and under control of the reciever and Qenta …

 

[danielboros]

Good news. Does anyone now if OCIF accepted the liquidation plan? It will be difficult to move forward without that, however hiring Edge Legal LLC implies they are close to the finish line.
I think maybe early next year could work.

 

[Lemon]

Good news. Does anyone now if OCIF accepted the liquidation plan? It will be difficult to move forward without that, however hiring Edge Legal LLC implies they are close to the finish line.
I think maybe early next year could work.

later this week works better for me

 

[Alio1]

Since the receiver got the funds, are there any distributions to bank customers started yet ?

 

[danielboros]

Since the receiver got the funds, are there any distributions to bank customers started yet ?

They don't have "all" of the funds. A couple of million is still missing.

As far as I am aware no distribution has began.

There's also no evidence that the liquidation plan has been approved by OCIF.