Ticker tape by TradingView
Euro Pacific bank is a scam
- Thread starter sonato
- Start date
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
- Status
- Not open for further replies.
If Assets Are in Company Accounts
If money is in an account in Qenta’s own name (e.g., operational funds), it legally belongs to Qenta.
Also it can be so that Qenta and receiver have a common interest. Sure we still remember the last message from the receiver and he never asked us to complete claim form with required documents officially.
“I hope that no one else in︀ Puerto Rico is involved in this case with their own interests.”
If money is in an account in Qenta’s own name (e.g., operational funds), it legally belongs to Qenta.
- In bankruptcy, we opt ins become an unsecured creditor,we would only get paid after secured creditors, and possibly only a fraction of our claim (sometimes nothing).
Also it can be so that Qenta and receiver have a common interest. Sure we still remember the last message from the receiver and he never asked us to complete claim form with required documents officially.
“I hope that no one else in︀ Puerto Rico is involved in this case with their own interests.”
The silver was in an accoubt for the bank. The mutual funds are in an account for Euro Pacific Securities. The cash may be in︀ a Euro Pacific Securities account too, I'm not sure. I don't know where the gold︁ is being held. But based on the terms of the Purchase and Assumption agreement, I︂ think customers are secured creditros, as it the Agreement clearly reads that Qenta is custodingy︃ those assets for Opt-in customers. So those liabiliites are secured by those assets.
Of course OPT-IN clients cash money has been mixed together with Qenta´s other operations. https://9fraud.com/purchase-and-assumption-agreement-for-euro-pacific-bank-assets-with-qenta-inc/ says NOTHING about seperation of funds (well done Peter, nice deal you signed there!) within Qenta, so it is just mixed together in pooled fund. The smart guys at Qenta can easily drag this out for 2-4+ years in court and play this dirty. And all signs are that they will! When this much money at stake, they could also easily "suddenly go banktrupt". Nasty nasty ending for OPT-IN will be the end!
Yes, they have had three years to do that. I think they are trying to cloud their theft in the cloak of legitimacy. First they tried to get the Receiver to sign off on a deal to legally allow them to keep customer money. Since that didn't work, now they are going directly to customers. But I think this amounts to fraud, as they are concealing imortant facts from customers to get them to agree︀ to make deals they would not make if Qenta was honest about what they are︁ trying to do.
You are wrong. I may not be a︅ lawyer, but I have had several lawyers review the agreement, and they agree with me.︆
There are two conditions precident for the initial closeing to take place. First is that︇ all regularoty aprovals are secured and in place. Second, that all liabilities related to the︈ assets have been assumed by Qenta. Neither condition was met. Qenta has admitted to this︉ fact all along. Here is an excerpt taken from an email Qenta sent to an︊ Opt-in customer in Jan. of this year. In this email, Qenta admits that it is︋ still waiting for regulatory approval before it can onboard Opt.-in customers and assume the liabilities︌ related to the assets it held in custody. The Receiver's initila letter to Qenta is︍ incorrect as a matter of law. That is the only source of confusion. I am︎ hoping the Receiver will realize he got it wrong and join in my legal action️ to force Qenta to return 100% of the assets to the bank, without any offsets.
"As an Opt-in client, there is no needed action from your end as Qenta is also, unfortunately, dependent on the receiver's office in finalizing their liquidation process with OCIF before the migration of Opt-In clients can begin. Regrettably, the process continues to be ongoing and there has been no specific date of completion set at this time. Once finalized, Qenta will send invites via email to Opt-In clients to download the app and immediately begin the sign-up and onboarding process. Once onboarded in the app, clients may cash out at︀ any time through their bank account or other payment channels such as PayPal or Payoneer."︁
There are two conditions precident for the initial closeing to take place. First is that︇ all regularoty aprovals are secured and in place. Second, that all liabilities related to the︈ assets have been assumed by Qenta. Neither condition was met. Qenta has admitted to this︉ fact all along. Here is an excerpt taken from an email Qenta sent to an︊ Opt-in customer in Jan. of this year. In this email, Qenta admits that it is︋ still waiting for regulatory approval before it can onboard Opt.-in customers and assume the liabilities︌ related to the assets it held in custody. The Receiver's initila letter to Qenta is︍ incorrect as a matter of law. That is the only source of confusion. I am︎ hoping the Receiver will realize he got it wrong and join in my legal action️ to force Qenta to return 100% of the assets to the bank, without any offsets.
"As an Opt-in client, there is no needed action from your end as Qenta is also, unfortunately, dependent on the receiver's office in finalizing their liquidation process with OCIF before the migration of Opt-In clients can begin. Regrettably, the process continues to be ongoing and there has been no specific date of completion set at this time. Once finalized, Qenta will send invites via email to Opt-In clients to download the app and immediately begin the sign-up and onboarding process. Once onboarded in the app, clients may cash out at︀ any time through their bank account or other payment channels such as PayPal or Payoneer."︁
Here is a simple anyalsis by ChatGPT. I uploaed the Purchase and Assumption agreement, and layed out Qenta's, the Receiver's and my postions, and asked it who was correct. It concurred that I am correct, and all of the assets need to be returned to the bank, inlcuding any interest eanred on the $19 million in cash.
https://chatgpt.com/share/6897aee5-3eac-8006-98cc-4657932b99ab
https://chatgpt.com/share/6897aee5-3eac-8006-98cc-4657932b99ab
With all due respect, what I consider important is to get back our assets and what I highly appreciate is Mr. Schiff being here with us, working towards that goal. I don´t know who started this group, but thank you! Without knowing it, I had found a group to join and with which I share a common goal. Best Wishes to all members.
- Status
- Not open for further replies.