Yes , I agree having all of the Opt. in customers going after Qenta individually is not a viable solution. I believe the receiver should do it. I'm doing wha I can myself, but its hard as I lack any authority to act for the bank. So that's a road block to︀ things I could otherwise get done.
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Thank you for your efforts Peter. Please keep us updated on your progress. If you need anything from Opt-in customers to support the︀ action you are taking, please reach out. I'm sure most Opt-in customers would be willing︁ to help!
I still think we need to lean hard on OCFI and the Receiver︂ and convince them that leaving Opt-in assets with Qenta is a breach of their fiduciary︃ responsibility to customers. Also, if your interpretation of the purchase agreement termination is correct, customer︄ assets need to be returned to the bank. How can the Receiver justify his decision︅ to abandon Opt-in customers...what kind of crack pot legal advice was he given? I'm going︆ to draft an email to OCFI and the receiver this weekend asking them to reconsider︇ their stance and take control of Opt-in assets.
I still think we need to lean hard on OCFI and the Receiver︂ and convince them that leaving Opt-in assets with Qenta is a breach of their fiduciary︃ responsibility to customers. Also, if your interpretation of the purchase agreement termination is correct, customer︄ assets need to be returned to the bank. How can the Receiver justify his decision︅ to abandon Opt-in customers...what kind of crack pot legal advice was he given? I'm going︆ to draft an email to OCFI and the receiver this weekend asking them to reconsider︇ their stance and take control of Opt-in assets.
That's why you should act on behalf of the customers. We could sign an agreement and anyone who does would be represented by you. The more who sign the more you can represent.
The trustee's statements can be very misleading especially for︀ someone who did not read the original agreement. Let me translate for you:
* Qenta︁ can't sell anything
* Qenta can't give you anything and will never give you anything︂
* Do not call us (the trustee) call Qenta. (There's no point, but why not?)︃
* OCIF is in charge
The trustee's statements can be very misleading especially for︀ someone who did not read the original agreement. Let me translate for you:
* Qenta︁ can't sell anything
* Qenta can't give you anything and will never give you anything︂
* Do not call us (the trustee) call Qenta. (There's no point, but why not?)︃
* OCIF is in charge
Yes , I agree having all of the Opt. in customers going after Qenta individually is not a viable solution. I believe the receiver should do it. I'm doing wha I can myself, but its hard as I lack any authority to act for the bank. So that's a road block to︀ things I could otherwise get done.
Yes I do. I already have it all lined up︄ and I informed the receiver that it will be turn key for him.
Yes I do. I already have it all lined up︄ and I informed the receiver that it will be turn key for him.
Silver Bullion sent an email to the receiver asking him if he would like control of the $10 million in silver restored to him, so that he can return it to the OPt-in customers. To my knowledge he has not replied. If he does not accept control, I can't do it for him, as he is in charge of the bank. I even informed him that I have a major gold and silver company that I trust ready to take custody of the metals, assume the liabilities to customers, and immediately allocate it to the Opt.-in customers who own it. If the receiver does not︀ agree to accept the silver, Silver Bullion has at least agreed not to release it︁ to anyone else, including Qenta. So at least it will be safe in case the︂ receiver eventually decides to accept it.
Silver Bullion sent an email to the receiver asking him if he would like control of the $10 million in silver restored to him, so that he can return it to the OPt-in customers. To my knowledge he has not replied. If he does not accept control, I can't do it for him, as he is in charge of the bank. I even informed him that I have a major gold and silver company that I trust ready to take custody of the metals, assume the liabilities to customers, and immediately allocate it to the Opt.-in customers who own it. If the receiver does not︀ agree to accept the silver, Silver Bullion has at least agreed not to release it︁ to anyone else, including Qenta. So at least it will be safe in case the︂ receiver decides to accept it. In th
The cash was in the︇ bank's account at IB was was transferred to Qenta. It was all in USD
The cash was in the︇ bank's account at IB was was transferred to Qenta. It was all in USD
Silver Bullion sent an email to the receiver asking him if he would like control of the $10 million in silver restored to him, so that he can return it to the OPt-in customers. At least one full day went by with no reply. This is very concerning. If he does not accept control, I can't do it for him, as he is in charge of the bank. I even informed him that I have a major gold and silver company that I trust ready to take custody of that silver, assume the liabilities to customers, and immediately allocate it to the Opt.-in customers who︀ own it. He never even acknowledged my email. If the receiver does not agree to︁ accept the silver, Silver Bullion has at least agreed not to release it to anyone︂ else, including Qenta. So at least it will be safe in case the receiver decides︃ to accept it.
It seems he won't even deal with Silver Bullion. He should have immediately replied to Silver Bullion's email and jumped at the opportunity to secure $10 million worth of silver for Opt-in customers, to whom he still owes a fiduciary duty. Just in case he was reluctantly due to the extra work, I assured him it would be turn key for him as I already had a major gold and silver company I trust ready to do all the work and make that silver available to all customers within 30 days of his accepting Silver Bullions offer. I asked Silver Bullion just to return control︀ of the Silver back to the bank, as I was the one who turn over︁ control of that silver to Qenta in the first place. But they refused as they︂ said the acceptance must come from the receiver. It's just too bad that the OCIF︃ Commissioner would not allow me to liquidate the bank myself, for free, as I offered︄ to do. But her real goal was not to protect the bank's customers, but to︅ make the bank look bad so the J5 could look good, by taking credit for︆ shutting down a bank that was facilitating tax evasion and money laundering, knowing full well︇ that it was not.
Could be. But I don't know why he would need it. I think he should jump at the chance to secure $10 million of assets for the bank's customers. This is especially true since I assured him all of that silver could quickly be returned to customers with minimal work required on his part.
Just because the assets are transported from one place to the next doesn't mean customers will be allowed to get their stuff. Unltil OCIF approves a plan nobody will get anything and we don't know when that will happen. It could be years from now so the goal should be to move the asssets to a storage until the approval is︀ given.
OCIF should recognize that a company that wanted to steal over half of the︁ assets is not a trsutworthy partner and the asssets should be moved NOW regardless when︂ any approval to distribute the assets is finally given.
Since the receiver said what happens︃ is dependent on the decision of the customers then we should write a petition and︄ have as many OPT INs sign that petition to transfer everything to Peter's company. I︅ don't think we will find a better deal than what Peter proposed since I doubt︆ that anyone will be willing to take the risk or spend the expenses necessary for︇ the zero monetary return. We would send the petition to OCIF and the trsutee.
OPT INs choose to OPT IN to Qenta so opting in to some place else naturally︈ requires their consent as well.
OCIF should recognize that a company that wanted to steal over half of the︁ assets is not a trsutworthy partner and the asssets should be moved NOW regardless when︂ any approval to distribute the assets is finally given.
Since the receiver said what happens︃ is dependent on the decision of the customers then we should write a petition and︄ have as many OPT INs sign that petition to transfer everything to Peter's company. I︅ don't think we will find a better deal than what Peter proposed since I doubt︆ that anyone will be willing to take the risk or spend the expenses necessary for︇ the zero monetary return. We would send the petition to OCIF and the trsutee.
OPT INs choose to OPT IN to Qenta so opting in to some place else naturally︈ requires their consent as well.
Dear Mr. Schiff, I highly appreciate your help and support regarding the situation all customers are facing.
Could you please explain why Silver Bullion refers to "$10M worth of silver for Opt-in customers" and Qenta shows on their Appendix $24M+" ?
Thank you in advance for your time.
Could you please explain why Silver Bullion refers to "$10M worth of silver for Opt-in customers" and Qenta shows on their Appendix $24M+" ?
Thank you in advance for your time.
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