At this point there's only one thing to ask...
Why are they not releasing the funds?
It's not their money, it's EPB's money!
Euro Pacific bank is a scam
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At this point there's only one thing to ask...
Why are they not releasing the funds?
It's not their money, it's EPB's money!
This was reply from NOVO BANK sent through the "complaints book" - https://www.livroreclamacoes.pt/Inicio/
Seems like they dont care, I shared the court document from February stating accounts should be unfrozen and money returned.
Perhaps they are hanging onto the money to use for bank bail-ins as there is a banking crash looming?
@Pschiff perhaps its time to get your lawyer in Portugal involved in emergency injuction to get our money released. Does not seem like NOVO BANK wants to comply and release customer deposits.
https://www.novobanco.pt/ajuda-contactos/sugestoes-e-reclamacoes
Last edited: Apr 27, 2023
Seems like they dont care, I shared the court document from February stating accounts should be unfrozen and money returned.
Perhaps they are hanging onto the money to use for bank bail-ins as there is a banking crash looming?
@Pschiff perhaps its time to get your lawyer in Portugal involved in emergency injuction to get our money released. Does not seem like NOVO BANK wants to comply and release customer deposits.
https://www.novobanco.pt/ajuda-contactos/sugestoes-e-reclamacoes
Last edited: Apr 27, 2023
Unfortunately our attempts to communicate directly with Novo bank are simply likely to be met by " your account is with EPB, please contact them".
This is especially the case at the "bureaucratic level". Somehow we have to get through to the higher levels of management.
We have to keep thinking of a "Plan B". Novo bank are making our lives a misery, so we have to try and make their lives a misery.
Peter Schiff is still playing defense on Twitter. Blaming everyone except himself.
I hope everyone gets 100% of their money. If you don't, I believe you can pursue legal action against Schiff. Schiff says you can't but I believe you can, especially since he dipped into customer money to pay the bills.
I also predict Peter Schiff will respond quickly to this post with more excuses. Fingers crossed.
I hope everyone gets 100% of their money. If you don't, I believe you can pursue legal action against Schiff. Schiff says you can't but I believe you can, especially since he dipped into customer money to pay the bills.
I also predict Peter Schiff will respond quickly to this post with more excuses. Fingers crossed.
you come here like a vulture... are you concerned with this money? do you have an account at EPB? No? So please go somewhere else!!
You get angry at me but not the guy (Peter Schiff) who screwed/scammed you? Peter is installing a new Sauna at his house while you guys are waiting for money that will never come. You think he gives a damn about you guys? He's a con man like Irwin Schiff!
OK I have just spoken to Novo Bank in Lisbon. I explained the situation and they want EPB customers to write an email to
[email protected]
Explain the situation and it will be passed on to the department that deals with wire transfers.
No idea if we will get replies., but it's worth a shot.
I think we just have to keep pestering them and pressing them.
[email protected]
Explain the situation and it will be passed on to the department that deals with wire transfers.
No idea if we will get replies., but it's worth a shot.
I think we just have to keep pestering them and pressing them.
Thanks for this head up.
Do you think it would be better to only write one email and CC many of us?
Mine is [email protected]
anyone else?
That would even be better if EPB or Peter Schiff could send this email and CC most of us... actually that's their job to do that. They have more power than us in this blocking issue!
I think the more emails they receive and the more time and irritation we cause them the better.
It's all worth a try.
Yes you are right that those in more powerful positions like the Receiver, OCIF, Qenta, Peter Schiff should all be pressing for a resolution with Novobanco too.
Which bank? EPB? Novo Bank? And what do you mean "closed"? Shut down? Liquidation?
Relax, Novo bank hasn't closed, as a matter of fact their profit tripled last year, the bank is the 4th largest of Portugal, 75% of Novo banco is owned by U.S. private equity fund Lone Star, so there's no problem with Novo bank.
The problem is with the useless Receiver and the OCIF, they are highly incompetent, every single deadline we have been given went by and here we are, more than 10 months later and nobody knows anything about what's happened to our deposits.
You read the article where Pocahontas says that she "hopes" we will get our money in the next two months, in other words, she has no fucking idea, she is trying to send a message that she has everything under control and she is looking after the interest of the customers, she is fake and phony, a useless Politician, and she is the main reason why we have lost our money with no end in sight.
It's very scary to realize that we are in the hands of very incompetent people, all of them, the Receiver, Qenta, and Pocahontas.
Out of interest does anyone know how much EPB funds is actually held at Novo Banco?
They made net profits of 561m last year. I am trying to wrap my head around why people are suggesting Novo needs EPB's money which is under a Custody arrangement anyway. All seems odd. We really need to hear their side of the story over what is going on.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
They made net profits of 561m last year. I am trying to wrap my head around why people are suggesting Novo needs EPB's money which is under a Custody arrangement anyway. All seems odd. We really need to hear their side of the story over what is going on.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
So it's pocket money to Novo Banco. And worth at most 2.4m euro's in income a year to Novo if parked at ECB.
Very odd this all is.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
I believe it's around 40 million, I read that in an article, Peter Schiff would know.
But I totally agree, nobody is telling us why Novo banko is holding onto the deposits, there is obviously a reason, but nobody is telling us anything so far. I don't think they even know, and the Receiver has proven to be useless.
Other banks that were also closed by the OCIF have already returned the deposits to the customers, it's only EPB that hasn't done anything so far.
Novo banco is reporting just now that q1 2023 net profit is 150mln
Its 66,7mln eur exactly
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