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No, the regulations in Puerto Rico where far more strict they were in St. Vincent, which is where the bank moved from . I didn't want to go to FLa. as I did not want to be FDIC insured. EPB didn't need that as it was 100% reserve. Plus, my tax rate on the income I hoped to earn running the bank...

That was our first government audit after moving the bank to Puerto Rico. We had been asking for our annual audit for two years, so that we could find out if we were doing anything wrong. But OCIF was behind in its audits. But every year we still had an independent financial audit done. The bank...

You are wrong. EPB was never declared insolvent. After it's 2021 audit, OCIF found that the bank was under-capitalized. That's because unlike St. Vincent, Puerto Rico required reserve against cash deposits in banks. So the money we had deposited in Novo Bank needed a reserve, as if those...

Opt in was the defualt. To opt out you had 30 days to notify EPB of your decision to Opt Ot and to provide the bank with wiring instructions to an alternative financial institution with an account of the same name as your EPB account. No third party wires.

I have no idea. I am not involved in the process. I've complained about it to the receiver and OCIF, but I can't really do anything about it. All I could do was file a lawsuit.

No, that has nothing to do with returning customer funds. The issue will be dealt with later. The money is not even due until after the transaction closes, which won't happen until all customer funds are returned.

Qenta had already agreed to pay $17.5 million for the bank. So $1.25 million for all the bank's assets was not a good deal. The intent was not for Qenta to take ownership of the assets, but to allocate them to customers and hope they kept their accounts open. No on was forced to Opt in. That was...

Correct, about $200 million was withdrawn, about 70% of deposits. The bank had no problem with this "run" as it was a 100% reserve bank. But that meant fee based revenues went down,. but costs remained the same, mainly due to compliance costs. So the bank was losing a lot of money, which I was...

At the time it was signed there was no reason to believe the funds would not go directly into individual accounts. The funds were going to be available for customers to withdraw on demand.

Again, the payment went to the bank, not me. I never got a dime. Plus only $500K was paid.

The losses related to losses that Qenta may incur as a result of acquiring the assets. It has nothing to do with bank customer's losses. Again, Qenta was setting up accounts for each Opt in customer. Qenta was going to convert all deposits into gold, via G-coin. That would have worked out well...

No one on this board should be upset at me or anyone that worked at Euro Pacific Bank. Corrupt government officials and journalists are 100% responsible for this situation. So direct your anger at them. They deserve it.

The money went to the bank, to further protect customers. Not one penny went to me. Also, customer funds were going to transfer directly into segregated accounts at a Qenta subsidiary for each Opt in customer. But that changed as a result of the Portugese government freeze of the Novo account...

He sent me an email. So I posted a summary of what he wrote.

I didn't get any money from the sale. $500K was paid by Qenta into the bank's account. So that was extra capital to payoff customers. Another $750K was supposed to be paid, but Qenta is not paying due to the extra costs they incurred over the past two years. I also sold the bank's office...

That's unfortunate to hear. I hope you get that money back soon. If possible, try to find a way to put some pressure on OCIF and the receiver.

The vast majority of customers do not have their life savings in the bank. That may be true for some, but I'd say maybe 1%. For most people the accounts represent a small part of their net worths. I lost $10 million cash that I put into the bank as capital. Far more than any customer, and I will...

What's the point. The bank is no longer operating. The receiver and OCIF independently verified that as of fall of 2022 the bank had $2-$3 million in excess cash then what was owed to depositors. That Consent Order is a pubic document.

The bank had audited financials. I have copies.

Good news. I heard back from the COE of Qenta. He assures me the rumors are not true. All customer funds are with Qenta now, and should all be allocated to customers beginning within 30 days of getting the green light from the receiver. The process could take a few weeks to compete, but all...