You are wrong. I have not spoken to the receiver for years. He refuses to communicate with me. I send him lots of emails which I hope he reads, but he never replies. The problem with waiting is that if he signs a deal with Qenta before he tells us what he did, it will be too late to undo the damage. So if he settles Qenta's bogus claim by paying Qenta $35 million dollars,︀ that comes right out of the pockets of the bank's customers. It will be hard︁ to get that money back from Qenta. There was speculation that Qenta sold the gold︂ and silver and spent the money. But they did not, as that would have been︃ illegal. But if the receiver gives Qenta the legal right to spend that money by︄ giving it to them in a legal settlement, as Qenta has requested and which he︅ is apparently considering, then Qenta will absolutely spend it.
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.
I have sent him at least a dozen emails explaining this. I sent so many as I keep learning new information. He has not replied to a single one.. But he is on notice that Qenta's claim is bogus, that the gold and silver are absolutely the bank's assets that he is managing, as are the liabilities to pay the identical quantity of gold and silver to the bank's customers, and that if he chooses to give those assets to Qenta, that he will be liable for that loss.
Yes, but if he decides to needless give away tens of millions of the bank's assets, he will be liable to customers for that action. Qenta may also be liable in an unjust enrichment lawsuit, but who knows how much of that money will be spend before we win a judgement. It's better to prevent the Receiver from giving Qenta all of that money in the first place.
Could anyone help me with the docs we need to send ?
what this is ? Copy of UBO (Ultimate Beneficiary Owner) Identifications ? Should i send copy of doc from the ultimate beneficiary owner ? Whats the difference between this and Copy of Two Legible and Valid Identifications: ?
In addition to this, he requested documents must contain the "Apostille" of the Ministry of ForeignAffairs of your jurisdiction of residence to be processed. The "Apostille" of the Ministry of ForeignAffairs is required by the laws of the Commonwealth of Puerto Rico and the Federal Regulations ofthe United States. This could be Haya apostille ?︀
what this is ? Copy of UBO (Ultimate Beneficiary Owner) Identifications ? Should i send copy of doc from the ultimate beneficiary owner ? Whats the difference between this and Copy of Two Legible and Valid Identifications: ?
In addition to this, he requested documents must contain the "Apostille" of the Ministry of ForeignAffairs of your jurisdiction of residence to be processed. The "Apostille" of the Ministry of ForeignAffairs is required by the laws of the Commonwealth of Puerto Rico and the Federal Regulations ofthe United States. This could be Haya apostille ?︀
Now for use I understand why Qenta decided to terminate opt in boarding.
Most of the opt in clients have taken their funds away from Qenta asap once they will arrive there. I guess they read this forum like Receiverr does : )
This way the Qenta makes a good profit doing nothing the past 3 years .
Very smart move indeed.
Most of the opt in clients have taken their funds away from Qenta asap once they will arrive there. I guess they read this forum like Receiverr does : )
This way the Qenta makes a good profit doing nothing the past 3 years .
Very smart move indeed.
I told you I did DD. I accepted mostly stock when I initially sold the bank to Qenta. OCIF also did their own extensive DD on Qenta. But Qenta is not the problem. Qenta sent a letter to the receiver canceling the purchase. They admitted that they are holding about $80 million in assets that they received from the bank. They could easily be transferred back to the bank in one day. But Qenta is only offering to return about $40 million of those assets. They want to have the receiver agree to let them keep the other $40 million, as they have︀ alleged unsubstantiated and unproven losses that they claim resulted from the receiver's failure to compete︁ the transaction. The receiver is under no obligation to accept that outrageous offer. Instead, he︂ should demand the immediate return of all the assets Qenta was transferred based on a︃ purchase that it cancelled. All Qenta is entitled to is the $500K it paid for︄ the assets. It can't hold those assets hostage to its other claims. If Qenta feels︅ it has other claims, which I don't think it does, it needs to asset those︆ claims in an arbitration in NY court against the bank and prove it. So it's︇ the receiver who is the problem, far more than Qenta, as is OCIF for appointing︈ him. Instead of asking what DD I did on Qenta, ask what DD OCIF did︉ on the receiver before appointing him, especially considering that he had zero banking experience when︊ he was picked for the job.
By the way, in its letter to the receiver,︋ Qenta only admitted to holding about $50 million of assets. That's because in their letter︌ to the receiver, they did not list the quantity of gold, silver and mutual funds︍ that they received from the bank. Instead Qenta only listed the dollar value of the︎ gold, silver, and mutual funds on the date they were originally received.
By the way, in its letter to the receiver,︋ Qenta only admitted to holding about $50 million of assets. That's because in their letter︌ to the receiver, they did not list the quantity of gold, silver and mutual funds︍ that they received from the bank. Instead Qenta only listed the dollar value of the︎ gold, silver, and mutual funds on the date they were originally received.
When do you start to understand that a bank liquidator DOES NOT NEED banking experience by law???
Ask FINMA (Switzerland), FCA (UK), AMF (France) for example!!!
A liquidator needs to be a lawyer in the respective jurisdiction and this guy is a PR lawyer.
It's sad but that is the current situation law wise. Makes no sense at all.
You brought Qenta, you sold to Qenta that is your ULTIMATE responsibility.
Ask FINMA (Switzerland), FCA (UK), AMF (France) for example!!!
A liquidator needs to be a lawyer in the respective jurisdiction and this guy is a PR lawyer.
It's sad but that is the current situation law wise. Makes no sense at all.
You brought Qenta, you sold to Qenta that is your ULTIMATE responsibility.
Qenta should have listed the current market value, but they counted on the receiver not understanding how much those assets had appreciated. If they listed the current market value of the mutual funds and metals, they would have informed the receiver they held $80 million of assets, not $50.
Here is the letter Qenta sent to the Receiver. You can see for yourself the absurdity of Qenta's claim and their deceptive listing of value of gold and silver and mutual funds at their 2022 values. The receiver should reject this offer and demand the immediate return of the $80 million in bank assets held by Qenta. The receiver can authorize Qenta to withhold the $500K it originally sent to the bank to pay for those assets from the cash amount it returns. All other claims Qenta may have are subject to arbitration in NY.
So Qenta wants to keep︀ the Mutual Funds ($5.8 million), plus $5 million termination fee, plus the return of the︁ $500K, a total of $11.6 million. And they want to return Gold & Silver at︂ the value of 2022.
They will make more money than the customers and the Receiver︃ by just being part of the agreement, great deal for Qenta! What a JOKE!
They will make more money than the customers and the Receiver︃ by just being part of the agreement, great deal for Qenta! What a JOKE!
Plus they want to keep the three subsidiaries and charge the bank almost $400 to unwind them. The biggest joke is that the receiver is considering their offer to return just $38 million in cash, instead︀ of $80 million in assets, which includes over $19 million in cash, over $50 million︁ in gold and silver, and over $7.5 million in mutual funds.
I opted in to keep my gold with Qenta and received the email that they are no longer involved. Please can someone tell me what I need to do in order to claim my holdings? Is there a real-time chat group with other affected people that I can join? Is there a joint legal action group I could join? Would be very grateful for some guidance.
- Status
- Not open for further replies.