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They are not theories. I have the internal emails between IRS agents and other J5 Chief to prove it. That evidence is the basis for my lawsuit.

You need to remember that according to the deal all OPt in funds were to transfer immediately to segragated individual accounts of customers. But since Novo held up the money, the funds that Qetna ended up getting were held by Qetna until all funds where recovered, so that Opt in customers were...

If the Qenta rumors are true, you have an excellent lawsuit against OCIF and the IRS. They are 100% responsible for this, and their actions were illegal.

The recourse is to sue the IRS and OCIF. Had they just allowed Qetna to buy the bank, all funds would have been segregated and safe. The bank would have had over $10 million in capital, no debt, and no loans on the books. There was no legitimate reason to reject the sale. The sole purpose of the...

It's the opposite. I only agreed to OCIF's proposal to expedite the return of customer funds. I was told that if I fought the funds would be tied up during that process. I wanted them returned to customers ASAP. The deal with OCIF required all funds to be returned in 30 days. That would have...

The opt in option was for people who had no other accounts they could send the money to, and to make sure the Puerto Rican government did not take it. Their proposal was that any money that was not withdraw within 90 days would go to the Puerto Rico government. I did not want that to happen.

That's not true. The bank never made any loans and customer funds were never at risk. There was more than enough cash to make every customer and all creditors whole on the date the bank was unnecessarily put into receivership. The only reason I tried to sell the bank was that after the illegal...

That is certainly not fair to me. I already lost over $10 million in cash that I put into the bank. I never took one penny out. I also didn't do anything wrong, and neither did any employee of the bank. So I'm not coming out of pocket another $65 million or so. OCFI, the IRS, the other J5 tax...

We don't know that, and customers are not without recourse if there is an issue. But I wish I could get an answer from Qenta, and I'm still waiting.

I had my team review the financials. I spoke to several people familiar with the company, including their banker. They had a plan to go public, which ended up falling through over a year after we did the deal. I spoke extensively with the CEO, who also came out to Puerto Rico twice. Once to meet...

It was not a bad idea at the time. I expected all the opt-out money to be send to clients with 30 days of signing the deal. That is what the agreement with OCIF required. So that would have been in the fall of 2022. The Opt in was for customers who had no other accounts they wanted to transfer...

The concern on this board is that Qenta doesn't have the funds.

I have left voicemails and sent emails. I am still waiting for a response. There is really nothing I can do. I have no authority or control over Qenta or the bank. I'm as helpless as any of you.

The bank's customers were sacrificed by the OCIF Commissioner. They were collateral damage in the conspiracy between her and the IRS to help the J5 look good, by enabling it to turned its failed Atlantis Investigation of the bank into a fake success. I'm still not sure if this was also a favor...

My guess is that the receiver has no incentive to expedite the process as he is making too much money from it. That is why I never wanted the bank to go into receivership in the first place. Before I found multiple buyers for the bank, the OCIF Commissioner assured me and my lawyer that if I...

Unfortunately, based on reading that report I do not think we are even close to any funds being released. I'd say the chances of customers getting any money prior to the three-year anniversary of the unnecessary and likely illegal action to place the bank into receivership are slim.

There is no way to stay my lawsuit. Plus it has nothing to do with recovery of customer funds. If anything it will speed up the process, as the Receiver is under added pressure to get it done. Plus, if the receiver knows the lawsuit is paused until after the liquidation is completed customers...

Yes we spoke about his taking the case on contingency. Also, I may be able to provide some litigation financing. But I want to find out the truth about the Qenta rumors. If all customers are made whole, there may not be enough to gain form the lawsuit. But if customers end up losing a lot of...

I ask the lawyer representing me to look into a class action suit on the part of bank customers. I have a list of their names and email address to make organizing the class easier.

I've been waiting days, not weeks. This issues only recently came to my attention.