Euro Pacific bank is a scam
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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.
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Your not screwed as you will likely get something back eventually. But people underestimate the time it takes for a liquidation of an offshore bank.
Someone discussed in another thread the last call for the FBME bank liquidation. In that case the bank went into receivership in May 2017 and the liquidation is still on-going sadly. So that is over 7 years already. You may have a few more years to go.
https://tz.fbmeliquidation.com/annoucementtz/tz/
Deadline Extension:
https://tz.fbmeliquidation.com/announcement/tz/
lol.....Well this YouTube video is interesting of the nightlife. 😛
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.
NGL, even in my teens, I found this behavior declassé AF! ca#"!
I NEVER EVER took "part" in such a "ghetto" lifestyle hi%#
means 4 - 5 years more to wait, I was wondering what is left then.
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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
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If money is your hope for independence you will never have it. The only real security that a man will have in this world is a reserve of knowledge, experience, and ability!
My personal favorite thread posted in the Mentor Group. Group of investment companies to avoid licensing.
Another bank discussed in this >> thread - Loyalbank also went under in 2018. And till today is still in Liquidation 5+ years later and that liquidation is being done by Deloitte. So if the EPB receiver can get things wrapped up for EPB in the next year he would have done an amazing job as uncomfortable as that may sound 😕.
https://www.deloitte.com/cbc/en/services/financial-advisory/services/loyal-bank-liquidation.html
The only failure I now see here is that customers expectations of how long a bank liquidation takes has not been communicated to my knowledge. In most countries that have deposit protection such as EU countries or US most people get their money bank rather quickly and no one cares or watches how long the actual winding up process takes for a bank. I guess that is one of the advantages of dealing with a bank with deposit protection and staying below deposit protection limit.
P.S I can go on with tons of examples such as Lehman brothers brokerage that took 14 years 🙁.
https://www.reuters.com/markets/us/...others-brokerage-ends-liquidation-2022-09-28/
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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 do this "continue to await the finalization" on camels. It's XXI century. People fly into space, transplant hearts, and use artificial intelligence. Meanwhile, some victims of fate are unable to complete a few pieces of paperwork. Mr. Receiver, if you are reading this, I have a recipe for all incompetence. Ask ChatGPT how to get out of the mess you're in, Ask your sister, brother, neighbor, homeless person, whoever. Any advice will be good and certainly no one will do more harm than YOU.
Latest report but it obviously doesn't state when/if we will get back our money https://qenta-rgts-public.s3.us-wes...Receiver+Report+on+Work+Performed+Q4-2023.pdf
Peter,
I understood , that you have nothing to do with Qenta today.
Why you gave up so easily and let EPB to go receiver and agreed volunteer liquidation ?
The receiver has no plan to complete liquidation as the current situation gives him a very good solid income and he can use our funds for his expenses without limit.
There will be no liquidation and none of us will get a single dollar back, no matter are you opt-in or opt-out, if we are just waiting a miracle to happen on one sunny day.
Last edited: Apr 18, 2024
It's a robbery in front of cameras. I wonder how it can be in 21st century.
A friend once asked me if I was sure that all my assets was safe. Then I was sure. After a year, I realized how wrong I was.
That would be great a call between receivers and many customers. Just simple question like "what are you waiting for? Where are you stuck? Any blocking issues ?". Of course we'll never be able to ask these. They'll be too afraid that we find obvious answers/solutions... they clearly drag their feet and no one is able to put pressure on them
In fact it's all about our money. I do not understand that border between us and the part responsible for liquidation. We have right to know where we are, what cause that delay and so on. It's our money so we should know what are we waiting for and what are we paying for.
Some customers have hire a lawyer one year ago but I guess they don't know more that us at this point.
You would think that given the amount of money that he is charging and spending every single quarter, he would at least send us an update once a month, but unfortunately he doesn't care, even if it's our money and we are the ones paying the consequences, he still doesn't care.
Those customers who hired a lawyer in Puerto Rico, and as I understand have sent a complaint to OCIF, has made no difference. The commissioner has already said that OCIF is not in charge of liquidating the bank, the Receiver is in charge, he has all the power, we are literally at the mercy of the useless Receiver.
Our destiny in the hands of a person that has no reason to end this process any time soon.
I fear that Christmas will come once again and we will still be waiting, with no end in sight.
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