Euro Pacific bank is a scam

[James123456]

you guys are wrong: This is taken from the Qenta call in Q3 2022
1) It has nothing to do with Mizuho. There was almost nothing there (less than USD 3,000 equivalent) when Cease and Desist Order
2) Qenta is also just dragging this out. They are taking the interest rate earnings to make sure they are compensated for any upfront "buying opt in" customers
this forum is full of wild theories. back to the facts guys!

 

[danielboros]

Well I cant find the missing amount in that chart, but based on my calculation in June 30th 2022 Novo had $21,460,833.04 of EPB's cash, of which $23,733,530 was taken by the receiver.

By the way according to Copilot/Chatgpt if the original amount gained interest according to the Fed rate then by june of 2024 we should have had a total of: 23,144,366.12 . If it was kept in EUR it would have been less.

Or perhaps this table is not accurate...

 

[SCHLOSSFINANZ]

if a correspondent account is frozen by government order EPB would not be entitled to any interest from NOVO...

 

[Radko]

James123456 said:
View attachment 7693

you guys are wrong: This is taken from the Qenta call in Q3 2022
1) It has nothing to do with Mizuho. There was almost nothing there (less than USD 3,000 equivalent) when Cease and Desist Order
2) Qenta is also just dragging this out. They are taking the interest rate earnings to make sure they are compensated for any upfront "buying opt in" customers
this forum is full of wild theories. back to the facts guys!
Click to expand...

Back in December of 2023 there were 29.3 million pending to liquidate.
Now in August the Receiver has received 23.7 million from Novo Bank.
So based on that, there are still 5.6 million missing.

 

[danielboros]

End of March there was only 24.669.844 missing before the Novo transfer:
https://epbprliquidation.com/wp-con...Receiver-Report-on-Work-Performed-Q1-2024.pdf
We are missing about 900k

 

[SCHLOSSFINANZ]

wow if 29.3 million was the saldo Dec 2023 and now

24.6 million + 900k = 25.5 million

the liquidator "burned" 13% of the total balance due to

a) inactivity
b) unprofessionalism
c) slowness
d) his remuneration

Am I missing something?

 

[danielboros]

The 24.6 mill includes the 900k, but that is how much was missing 3 months ago.

 

[Vqn]

Does anyone know how much is owed to the customers?

 

[Radko]

If there is only $900K missing, and we are 3,595 customers, that's $250 per customer. He should forget about the $900K and give us our money back now.

 

[SCHLOSSFINANZ]

yes but the problem in a banking liquidation is to collect everything first and then make the distribution normally.

Why don't you write that proposal in an email to the liquidator?

 

[Radko]

SCHLOSSFINANZ said:
Why don't you write that proposal in an email to the liquidator?
Click to expand...

You think the Receiver is going to listen to me, or to anyone else?
The Receiver is happy to carry on milking the cow.

It would be ridiculous to have us waiting for potential many more months just to give each customers an extra $250, it's been 2 years and 2 months! I'm getting gray hair...

Last edited: Sep 5, 2024

 

[SCHLOSSFINANZ]

send a registered letter which is signed by several depositors with that proposal, what you have to loose?

 

[Radko]

SCHLOSSFINANZ said:
send a registered letter which is signed by several depositors with that proposal, what you have to loose?
Click to expand...

For that we would need to know for sure that the amount missing is only $900K

 

[Guess]

Radko said:
For that we would need to know for sure that the amount missing is only $900K
Click to expand...

The numbers could be a guess of what the liquidator expects to be there, and he gives them to meet the requirement of customer communication.
Who audits the auditor?

 

[fighthorse]

Do any of you actually believe that they'll ever recover any money from this case with Euro Pacific Bank?

I'm one of the people who lost money with this bank, but I accepted the situation and the loss, which wasn't too big””just a few thousand euros.

Since this thread has over 200,000 views and more than 97 pages, it indicates that people aren't as indifferent as I am and are still fighting for their case.

What do you think will happen here?

 

[regi]

fighthorse said:
What do you think will happen here?
Click to expand...

Is that customer satisfaction survey ?

 

[Radko]

fighthorse said:
Do any of you actually believe that they'll ever recover any money from this case with Euro Pacific Bank?
Click to expand...

Is that a legitimate question, or you're just being sarcastic....

Based on the information published by the Receiver, there is no way that customers will lose all their money, maybe some, but not all.

 

[Martin Everson]

fighthorse said:
What do you think will happen here?
Click to expand...

I have never used Euro Pacific Bank personally so I have no dog in this race. But people will get their money back eventually unless some hiccup happens.

Toggle signature
Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Lemon]

fighthorse said:
Do any of you actually believe that they'll ever recover any money from this case with Euro Pacific Bank?

I'm one of the people who lost money with this bank, but I accepted the situation and the loss, which wasn't too big””just a few thousand euros.

Since this thread has over 200,000 views and more than 97 pages, it indicates that people aren't as indifferent as I am and are still fighting for their case.

What do you think will happen here?
Click to expand...

First of all, If you are an account holder you haven't lost your money..... your deposit is frozen in a liquidation process that is ongoing.
Secondly, if you have an account perhaps you should have paid a little more attention to what's been going on for the past two years.
Third, if you had an account and paid any attention you would know that the liquidation process is coming to an end, sooner than later.
fourth, your statement and question expose the fact that you, at best, are missing basic information about this case.

 

[danielboros]

fighthorse said:
Do any of you actually believe that they'll ever recover any money from this case with Euro Pacific Bank?

I'm one of the people who lost money with this bank, but I accepted the situation and the loss, which wasn't too big””just a few thousand euros.

Since this thread has over 200,000 views and more than 97 pages, it indicates that people aren't as indifferent as I am and are still fighting for their case.

What do you think will happen here?
Click to expand...

People died, businesses failed, information was stolen (including yours). There are plenty of reasons to not be indifferent.

There's a possibility that the money will be returned, however given the political climate in the US, that possibility is not as high as people here wish it was be. If there's some major upheaval there, which most likely will be, they might decide that this money belonged to criminals and should be confiscated by the state.