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Euro Pacific bank is a scam
- Thread starter sonato
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FYI EPB's - The Consent Order For Liquidation and Dissolution of International Finance Entity.
https://aboutbtax.com/4tA
Good luck to everyone who has money stuck there. It seems if all conditions are met by Peter in above doc you should get your money back as I mentioned in this link within 90 days.
https://aboutbtax.com/4tA
Good luck to everyone who has money stuck there. It seems if all conditions are met by Peter in above doc you should get your money back as I mentioned in this link within 90 days.
BANKING OPERATIONS UPDATE: AUGUST 29, 2022
Dear Euro Pacific Bank customer,
We write to inform you that, although Euro Pacific Bank is now in liquidation pursuant to a Consent Order for Liquidation and Dissolution of International Financial Entity entered into with the Puerto Rico Office of the Commissioner of Financial Institutions (“OCFI”), we can now provide you with a positive update on an easy path forward.
The four subsidiaries of the bank will be owned directly by that company. The bank’s currency and precious metals deposits will be held by its wholly owned subsidiary operating in Dubai. From your account there you will be able to send and receive third party payments in multiple currencies, including U.S. dollars and utilize a debit card to access your deposits.
Once your funds are transferred, they will be immediately available to spend or withdraw. If the acquiring financial institution does not meet your needs, you can transfer your balance to an alternative financial institution.
You have thirty (30) days from the date of this notice to complete the outgoing wire request for processing.
Reminders:
We appreciate the confidence you have placed in us over the years and your continued support of our bank throughout this process. Our customers have always been our priority and you continue to be our priority throughout this liquidation process.
Sincerely,
Euro Pacific Bank Management
LINK: Commencement of Bank Liquidation - Euro Pacific Bank
Dear Euro Pacific Bank customer,
We write to inform you that, although Euro Pacific Bank is now in liquidation pursuant to a Consent Order for Liquidation and Dissolution of International Financial Entity entered into with the Puerto Rico Office of the Commissioner of Financial Institutions (“OCFI”), we can now provide you with a positive update on an easy path forward.
Account Migration
Since Euro Pacific Bank will be closing its business operations in Puerto Rico permanently and irrevocably, we are in advanced conversations to arrange for the transfer of all customer deposits, cash and physical precious metals, as well as ownership of the bank’s four wholly owned subsidiaries, which includes the broker dealer where many customers maintain linked brokerage accounts, to a global financial services technology company headquartered in the United States with an experienced management team and solid track record.The four subsidiaries of the bank will be owned directly by that company. The bank’s currency and precious metals deposits will be held by its wholly owned subsidiary operating in Dubai. From your account there you will be able to send and receive third party payments in multiple currencies, including U.S. dollars and utilize a debit card to access your deposits.
Once your funds are transferred, they will be immediately available to spend or withdraw. If the acquiring financial institution does not meet your needs, you can transfer your balance to an alternative financial institution.
Migration Opt Out
If you prefer, you may have your deposits wired to an alternative financial institution of your choosing. To initiate this process, you must log into eBanking and request an outgoing wire transfer to an account with the same beneficial ownership as your Euro Pacific account.You have thirty (30) days from the date of this notice to complete the outgoing wire request for processing.
Reminders:
- U.S. dollars must be converted to another currency the bank supports to be wired out.
- If you do not want your gold and silver holdings to be under new ownership, you must sell them, as the bank cannot deliver out metal.
- If you do not want your brokerage account to be under new ownership, you must liquidate your holdings, including in the bank’s proprietary mutual funds, and transfer any proceeds to your bank account so those amounts can be included in the wire.
We appreciate the confidence you have placed in us over the years and your continued support of our bank throughout this process. Our customers have always been our priority and you continue to be our priority throughout this liquidation process.
Sincerely,
Euro Pacific Bank Management
LINK: Commencement of Bank Liquidation - Euro Pacific Bank
So who is the Fintech company? Are they gonna tell you the name in advance so you can decide whether to use the Opt Out?
Your money and gold will be held with the U.S tech companies subsidiary in grey listed Dubai lol? All sounds really shady.
Yeah thats crazy.....
---- quote start
Operational Delays
Euro Pacific Bank began allowing clients to submit transfer requests in their eBanking on Monday, August 29th. Unfortunately, those transfer requests are currently being held by our correspondent bank, who has requested written confirmation from the bank’s government-appointed receiver that we are authorized to proceed with your wire transfer(s).However, the receiver will not provide our correspondent bank with that written confirmation until the Puerto Rico financial regulator (OCIF) authorizes him to. In other words, our correspondent bank will not process any of our wire transfer requests until OCIF provides authorization.
We understand this situation may be frustrating for some of you, especially after patiently waiting. However, the bank is in receivership and has been under the control of OCIF, so transactions can take much longer to process than it did before.
As stated in our Monday notice, clients can still request transactions and they will be processed as soon as we’re allowed to. Thanks for your continued patience through this process and we will continue to update you on this step.
---- end quote.
Qenta I have never heard of them. But by them taking on EPB customers they will be in the line of fire for all number of future investigations, asset freezes etc and UAE is grey listed so FATF will have a field day.
---- quote start
Dear valued customer,
On behalf of Qenta Inc., welcome to our family. We know this has been a difficult time and look forward to a brighter future together. In this letter, we want to share who we are, why we are excited for you to join us, and invite you to our Virtual Customer Townhall on Wednesday September 14, 2022, at 8am Eastern Standard Time to directly answer any questions you may have.
After September 29, 2022, remaining customer assets will be held by Qenta subsidiaries but you will have full and ongoing access to your deposits, precious metals holdings, mutual funds and brokerage accounts. Qenta is not a bank; however, it has subsidiaries that are licensed by the Dubai Multi Commodities Centre, which allows Qenta to trade precious metals for its clients. Qenta will facilitate payments in multiple currencies, and over the next year upgrade its card offering.
To ease the transition, a number of your former bank’s staff will also be joining our team.
About Qenta
Qenta is a global financial technology firm headquartered in Houston, Texas, with a vision to lead the world to a frictionless and democratized ecosystem. Towards this end, we offer to our customers savings products such as Responsible Gold, wallets, payment solutions for merchants, and commodities hedging and financing products. We operate in 17 countries around the world with a team of over ~200 people.Our group Chairman and CEO, Brent de Jong, started working with banks in 1997 to provide financing and restructuring advice globally while at J.P. Morgan. He has since achieved a solid track record of building teams and transforming businesses with the core principle of customer satisfaction.
Our Managing Director, Mariame McIntosh, has worked in the financial services industry for two decades and, prior to joining Qenta, was the CEO of a commercial bank for over 6 years. Her success at the bank was driven by a relentless focus on customer experience.
Our Mission
Qenta is a purpose-driven business with a committed, experienced team and it is our hope that you can get to know more of our team members in the coming months.We also hope that you will give us the chance to serve you as we believe the benefits of joining the Qenta family are:
1. Safe and secure custody of your assets;
2. Access to innovative digital products to meet your needs;
3. Our commitment to the highest environmental, social and governance (ESG) standards.
For more information about the company, please visit our website at www.qenta.com.
---- quote end
I have been a customer of this bank for 6 year
The few deposits there all came from another account that bears my name. With one exception.
In 2019 I received a payment from a friend (not a very large amount) and this payment was also credite
After 9 months there were inquiries and I submitted everything possible, even a copy of the sender's passport, a confirmation of the sender's address, even copies of the bank statements with the payment ... It didn't help, my account was blocked 1 year after receipt of this payment, that's 2.5 years ago.
I couldn't even log into online banking anymore. Inquiries were no longer answered.
A Puerto Rican attorney also attempted correspondence and received no response.
In this respect, I am very happy that the state and the police have now taken over the administration there. I managed to arrange a telephone appointment for tonight (3 AM !!). I want to login again and transfer the money away.
I'm curious if AMANDA DIOUM actually calls. In 1.5 hours it's time....
The few deposits there all came from another account that bears my name. With one exception.
In 2019 I received a payment from a friend (not a very large amount) and this payment was also credite
After 9 months there were inquiries and I submitted everything possible, even a copy of the sender's passport, a confirmation of the sender's address, even copies of the bank statements with the payment ... It didn't help, my account was blocked 1 year after receipt of this payment, that's 2.5 years ago.
I couldn't even log into online banking anymore. Inquiries were no longer answered.
A Puerto Rican attorney also attempted correspondence and received no response.
In this respect, I am very happy that the state and the police have now taken over the administration there. I managed to arrange a telephone appointment for tonight (3 AM !!). I want to login again and transfer the money away.
I'm curious if AMANDA DIOUM actually calls. In 1.5 hours it's time....
EPB are/were notorious for being anti crypto and explicitly stated any accounts involved in crypto would be closed.
This was part of their strict AML policy.
Hopefully the money you have there is all declared, as you can be assured their correspondence bank Novo Banco will be cooperating with mutiple tax offices right now. This bank has been under a microscope for quite some time by multiple tax offices sadly.
I am in contact with some EPB customers and I got the impression that hardly anyone has problems with untaxed capital.
Some - like me - just live in a dictator-ruled state with extreme capital controls.
Hard currencies are very welcome in such countries, but beware of making payments abroad in these currencies.
They would much rather give you colorfully printed toilet paper which they call currency (RMB in my case).
I have no confidence in crypto (and probably too little detailed knowledge).
Some - like me - just live in a dictator-ruled state with extreme capital controls.
Hard currencies are very welcome in such countries, but beware of making payments abroad in these currencies.
They would much rather give you colorfully printed toilet paper which they call currency (RMB in my case).
I have no confidence in crypto (and probably too little detailed knowledge).
I am also trying ...
deadline to avoid to be "migrated" to this s**t of QUENTA is next Friday.
They simply don't let you login into your account to transfer the money out.
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