Euro Pacific Bank - Peter Schiff Banked Known Criminals, Tax Probe Claims

[Nishizawa]

So they finally meet their destiny...

One curious question is how they were useful for money laundering. They're so strict with AML, famous for requiring tons of documentation to send just 3K, and soon freezing accounts. It is surprising that remote offshore banking such as EPB is still used for money laundering.

 

[Martin Everson]

Cetme308win said:
Damn basically for opening corporate accounts for companies in jurisdictions that any other bank wouln't ever touch....
like having a company in Nevis or Seychelle for Offshore hosting for example
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So basically EPB was good for banking shell companies most other banks won't touch....lol?

Cetme308win said:
We all hope that EPB is not fucked....I have some accounts there
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Right now you need more than hope mate. You think after this its going to be business as usual for EPB? I don't think so its over.

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

 

[Clip]

I saw this coming... guys better move to a low tax country, trying to hide from a broke government with bast resources to prosecute tax evaders is useless.

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Expat in Hong Kong - There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt. - John Adams

 

[Martin Everson]

Nishizawa said:
One curious question is how they were useful for money laundering. They're so strict with AML, famous for requiring tons of documentation to send just 3K, and soon freezing accounts. It is surprising that remote offshore banking such as EPB is still used for money laundering.
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Easy. Most people opened offshore companies with EPB to move around money they earned and never declared to their home country. That is called "money laundering" and not just tax evasion.

Cetme308win said:
I don't think so.....but sometimes miracles are real and I hope that lmao
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Miracles....lol? Your gonna need 10 crucifixes, 5 rosary beads and a gallon of holy water to survive this one mate.

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

 

[Martin Everson]

GiGoGo said:
I saw this coming... guys better move to a low tax country, trying to hide from a broke government with bast resources to prosecute tax evaders is useless.
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This could have been the solution for many. Now the only place many if those customers will be moving too is jail.

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

 

[Martin Everson]

Cetme308win said:
The target of that s**t is to make you imposible to have bank accounts and companies outside your own country
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Well Euro Pacific Bank got very greedy by tapping into a segment of the market who could not go anywhere else to bank shell companies or avoid CRS. Having a company is not the problem. Problem is not reporting income when there is an obligation in your home country to do so.

Last edited: Oct 19, 2020
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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Silvio]

The real question is what s**t bank all the CSPs will recommend now, now that Rietumu is off, EPB is dead. Anyone wants to gamble? 😎

 

[user9823671]

Martin Everson said:
Your gonna need 10 crucifixes, 5 rosary beads and a gallon of holy water to survive this one mate.
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so you're saying there *is* a chance then 🙂

 

[Clip]

A tax probe involving authorities from Australia, US, UK, the Netherlands and Canada
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Australia, UK and Netherlands. Remember guys that CRS/AEOI is automatic, Fatca is not but doesn't mean that IRS won't share the information with other countries if requested or in the progress of a criminal tax investigation. Money there under your ID is going to end being reported.

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Expat in Hong Kong - There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt. - John Adams

 

[Martin Everson]

Cetme308win said:
Damn the forum url appears in the video lool
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Where? eek¤%&

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

 

[Flatworld]

Cetme308win said:
i

look at the minute 15:03
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haha~we are famous now LOL

 

[Martin Everson]

Cetme308win said:
look at the minute 15:03
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Your right.

The thread below is the one that appears in video eek¤%&. The OP on the thread from 2018 brought down Euro Pacific Bank....smi(&%. Just read the first post smi(&%

https://www.offshorecorptalk.com/threads/euro-pacific-bank-sepa-mastercard-aeoi-crs.23210/

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

 

[Martin Everson]

Look what I wrote in that thread above in Jul 8 2019:

Martin Everson said:
Bank won't be around much longer I predict so card issues is least of your worries smi(&%. I have a prediction in another thread that EPB will be dead by end of 2019.

The world is a different place now for banking. I can't get my head round EPB's management strategy of avoiding CRS and allowing shell companies conf/(%
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I was almost right.....lol

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[NicolasMaduro]

off-shore hosting? Is that another Word for hosting of illegal or copyright content?

 

[VESTANON]

Martin Everson said:
Look what I wrote in that thread above in Jul 8 2019:



I was almost right.....lol
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That was spot on, going through the thread and seeing the comment saying (its like dangling your nut in the lions mouth)awe¤""% got me all out in laughter...

Trust EPBs nuts along with a few acct holders Just got munched...cig-:,

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[Martin Everson]

@Edge I wonder if you hold same opinion from that old thread from 2019 where I went in on EPB...lol?

Edge said:
This is the problem with talking to you, it seems like you have an interest in bashing EPB .. That's why I can't trust you .. I want to honestly, I want to get the advice, but you say stuff sometimes that is very confusing ...
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I close my case after latest EPB news 🙄

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

 

[Martin Everson]

Cetme308win said:
Right now the bank is not dead.... it's just in the intensive care unit of banks lol
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Soon it will be put on life support, read its last rights and Peter will be there to watch the regulators turn of the switch and pronounce it dead.

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

 

[sonato]

Martin Everson said:
Soon it will be put on life support, read its last rights and Peter will be there to watch the regulators turn of the switch and pronounce it dead.
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well said, it can't stay this way for a long time. They may already start taking a run with customer funds.

It's all what you said Martin 😵

 

[bigladsmith]

It's going to go sour fast I'd suspect. Has anyone got information if EPB is still cashing out? I'd heard that last week all was normal....

 

[Edge]

@Martin Everson What lol ?

Yeah I'm gonna lose money on this one ..
I moved some when the perth mint news came and some before that ..

So I'm good; whatever .. Life goes on ..

I understand people are laughing .. But some people like me, live in countries where I can't exchange the currency worldwide .. meaning I can't do business online, ever .. Unless I have a bank abroad or a company abroad etc ...

So EPB was one of the very few choices I have .. I actually bank there legally .. I pay taxes (very small) on anything I bring back ..

I never trusted the bank of course; and I knew that the clientele is basically tax evaders, but never in a million years have I thought Schiff is so stupid and greedy to actually have russian cyber criminals as clients .. The bank is done and I already kissed whatever I had there goodbye ...