Euro Pacific bank is a scam

[Martin Everson]

Ok calm down. None of this talk is ever gonna change what has happened. You may be upset but what is done is done.

I would focus your energy on getting back money owed to you from receiver for those that opted out. And finding out where your money is actually held for those who opted in to Qenta.

The below that Peter stated is troubling. How did this happen or why?

Pschiff said:
From what I can tell Qenta also has some of the Opt out funds, which it needs to transfer back to the bank.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[ILOVEROME]

4 things:

1) Peter Schiff is an a-hole. Now long gone from this forum after critical questions were presented!

2) Peter Schiff has given wrong info on numerous occasions! Dont trust the guy! Some people pointed this out earlier here using concrete verificable info.

3) The receiver has USD 47 mll (latest report) which is roughly what is owed to Opt-out

4) Who are FUCKED are OPT-IN clients who trusted this garbage company Qenta. Do a check

on Linkedin! half of the people they claim are management on the Qenta page dont work there, never worked there or work for other companies that maybe have the same beneficiary owners! Has anyone bothered to visit any of the Qenta offices and/or looked into this? NOT GOOD NEWS. Some of the offices dont exists etc...TONS OF RED FLAGS

 

[seize]

ILOVEROME said:
4 things:

1) Peter Schiff is an a-hole. Now long gone from this forum after critical questions were presented!

2) Peter Schiff has given wrong info on numerous occasions! Dont trust the guy! Some people pointed this out earlier here using concrete verificable info.

3) The receiver has USD 47 mll (latest report) which is roughly what is owed to Opt-out

4) Who are FUCKED are OPT-IN clients who trusted this garbage company Qenta. Do a check

on Linkedin! half of the people they claim are management on the Qenta page dont work there, never worked there or work for other companies that maybe have the same beneficiary owners! Has anyone bothered to visit any of the Qenta offices and/or looked into this? NOT GOOD NEWS. Some of the offices dont exists etc...TONS OF RED FLAGS
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Fucked opt in clients are people like me who tried to opt out months before liquidation. they never proceed to my request”¦ i m sure i m not the only one in this case.

 

[danielboros]

ILOVEROME said:
4 things:

1) Peter Schiff is an a-hole. Now long gone from this forum after critical questions were presented!

2) Peter Schiff has given wrong info on numerous occasions! Dont trust the guy! Some people pointed this out earlier here using concrete verificable info.

3) The receiver has USD 47 mll (latest report) which is roughly what is owed to Opt-out

4) Who are FUCKED are OPT-IN clients who trusted this garbage company Qenta. Do a check

on Linkedin! half of the people they claim are management on the Qenta page dont work there, never worked there or work for other companies that maybe have the same beneficiary owners! Has anyone bothered to visit any of the Qenta offices and/or looked into this? NOT GOOD NEWS. Some of the offices dont exists etc...TONS OF RED FLAGS
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That's just your wishful thinking. In which country Is it legal to only pay back half of the debtors?
What makes you believe that they wouldn't use the opt outs money to pay the opt ins?

Who decided to use Quenta? That was Lugo. Who gave Quenta all the money? Again Lugo.

I will find it hilarious if Lugo really gave the opt outs money to Quenta as well.

PS was in no position to dictate anything to Lugo or OCIF.

 

[SCHLOSSFINANZ]

Pardon? Qenta was introduced and vetted by PS. PS wanted to sell EPB to Qenta. When that failed because Qenta was not deemed fit and proper by OCIF he agreed to asset deal to Qenta. The liquidator had ZERO to do with that.
The liquidator is not resposible for the Qenta fiasco at all

 

[danielboros]

So it is not the liquidators responsibility to ensure that the funds of the depositors are handled by a reliable institution?

Why does the liquidator or OCIF need to agree with what PS wants?

Sure you could argue he was part of a conspiracy, but the real responsibility lies with the people who make the decisions and not with the people who don't.

How can Quenta both be fit and not fit at the same time?

If Quenta was not fit why did OCIF and Lugo agree to give the money to Quenta? Did they intentionally want to hurt depositors? I guess that would make sense.

 

[SCHLOSSFINANZ]

Sorry it makes zero sense to argue with you. It is evident from what you write that you have no experience and knowledge how banking liquidations work.

 

[danielboros]

I am asking simple logical questions. If you are not able to answer that puts you on the same level as I.
Perhaps someone with more knowledge will answer.

 

[john8899]

Qenta / opt-in deal was set up by Schiff himself.
See:

Pschiff said:
It was my idea. If people didn't have another bank account to transfer their funds, they could opt to have the funds more to Qenta. OCIF wanted to just confiscate any funds that did not transfer out. So I thought Qenta was a much better option.
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Now, Schiff himself said Qenta paid $1.25m for the opt-in accounts and they have paid $500k so far, so they still owe $750k:

Pschiff said:
Correct. That figure includes the $1.25 million that was to be paid to the bank by Qenta. The first $500K was received. The rest is still due. The receiver did blow a $500K receivable though gross negligence. So we lost that money. Also there was a $300K bogus fine that was owed to OCIF. It was for operating the bank without a license. Though the bank filed its 2022 renewal on time, and paid the annual fee, OCIF decided to reject the renewal over 5 moths after it was filed, and retroactively fine the bank $5K per day for unknowingly operating without a license. The original fine was $700K, but I negotiated it down. I think the sole reason for the fine was to make the bank look bad in the media, as the fine was a big part of the stories that where written. Of course it also generated revenue for OCIF.
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I think it's worth finding out when Qenta is suppose to pay the balance and whether they are witholding payment for some reason?

 

[ATNTESTING]

seize said:
Fucked opt in clients are people like me who tried to opt out months before liquidation. they never proceed to my request”¦ i m sure i m not the only one in this case.
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Glad to see I'm not the only one in this case. And they still haven't contacted me nor reply to my messages...

 

[danielboros]

john8899 said:
Qenta / opt-in deal was set up by Schiff himself.
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I don't care if it was set up by Schiff or a 5 year old. I'm pretty sure most people here alraedy knew that.
My question is who is legally responsible if things go south? Is the liquidator responsible for the liquidation or somebody else?

Also what if the opt out bank went down and not Quenta? Would we blame the opt outs for making a bad decision? What if both Quenta and the opt out bank went down? Then we all made bad decisions. Not the liquidator mind you, for loosing the money, but the opt ins for choosing opt in and the opt outs for choosing opt out...

 

[SCHLOSSFINANZ]

it is PS because he INTRODUCED Qenta and negotiated the Asset Deal with OCIF

 

[EPBVictim01]

Realistically guys. In case quenta is really broke and doesn't have the funds anymore, do you think they will compensate the OPT-IN clients with the funds if the OPT-OUT clients ? Just a logical reply from maybe someone who had experience.

 

[danielboros]

SCHLOSSFINANZ said:
it is PS because he INTRODUCED Qenta and negotiated the Asset Deal with OCIF
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So OCIF is not responsible?

They seized the assets of EPB to protect depositors, but if they lose it somehow they are not responsible?

OCIF is a scam.

 

[Martin Everson]

EPBVictim01 said:
Realistically guys. In case quenta is really broke and doesn't have the funds anymore, do you think they will compensate the OPT-IN clients with the funds if the OPT-OUT clients ? Just a logical reply from maybe someone who had experience.
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What were the terms and conditions clients accepted when they opted-in?

Although there are a few red flags with Qenta lets not think the worst for the sanity of those that have funds stuck in this receivership.

P.S Swearing is not gonna be tolerated. Any further use of the F-word and posts will be deleted and warnings given. I know tempers are high and I don't want to add further to anyone's distress here but littering the thread with F-word's is not 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.

 

[danielboros]

Martin Everson said:
What were the terms and conditions clients accepted when they opted-in?
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There were no terms. If you didn't make a transaction to your local bank of everything you owned you became an opt in.

Opt in was the default. They said if you opt in you can take everything out on day one; so assuming everything went according to plan there was no point to an opt out and have you risk your money be stuck in transaction limbo.

If I opted out I would have lost thousands of dollars, because everything I had was in gold.
That's assuming we haven't lost everything already.

 

[seize]

danielboros said:
There were no terms. If you didn't make a transaction to your local bank of everything you owned you became an opt in.

Opt in was the default. They said if you opt in you can take everything out on day one; so assuming everything went according to plan there was no point to an opt out and have you risk your money be stuck in transaction limbo.

If I opted out I would have lost thousands of dollars, because everything I had was in gold.
That's assuming we haven't lost everything already.
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Correct

 

[Martin Everson]

danielboros said:
There were no terms. If you didn't make a transaction to your local bank of everything you owned you became an opt in.

Opt in was the default. They said if you opt in you can take everything out on day one; so assuming everything went according to plan there was no point to an opt out and have you risk your money be stuck in transaction limbo.

If I opted out I would have lost thousands of dollars, because everything I had was in gold.
That's assuming we haven't lost everything already.
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Ok I see. Thats not good.

Does anyone know what the below $1.25m from Qenta was paying for?

Pschiff said:
Correct. That figure includes the $1.25 million that was to be paid to the bank by Qenta. The first $500K was received. The rest is still due.
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[EPBVictim01]

Martin Everson said:
What were the terms and conditions clients accepted when they opted-in?

Although there are a few red flags with Qenta lets not think the worst for the sanity of those that have funds stuck in this receivership.

P.S Swearing is not gonna be tolerated. Any further use of the F-word and posts will be deleted and warnings given. I know tempers are high and I don't want to add further to anyone's distress here but littering the thread with F-word's is not on.
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Not really sure which T&C they needed to accept.

Yeah let's not think about the worst case scenario.

I just wished there would be a better communication from all parties.

Also that @Pschiff disappeared from this thread, shows clearly that he is guilty for many things.

 

[Martin Everson]

EPBVictim01 said:
Also that @Pschiff disappeared from this thread, shows clearly that he is guilty for many things.
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He might have also disappeared on advice of his lawyer as he is in the middle of a lawsuit he brought. And no doubt people would end up asking him stuff he cannot speak on or will incriminate himself.

Looking at his past posts I think he has said enough stuff that will not be helpful to his case.

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