Euro Pacific bank is a scam

[daniels27]

The are a payment service provider with a licence‍ in Austria. They also have a vault on a company in Switzerland which has been⁠ liquidated already.
https://qenta.com/vault-terms/
http://app2.ge.ch/ecohrcinternet/extract?lang=FR&companyOfsUid=CHE-406.674.883

 

[Radko]

Qenta is a publicly traded company. It listed on‍ Nasdaq following a merger with the special purpose acquisition company (SPAC) Blockchain Coinvestors Acquisition Corp.⁠ The merger was announced on November 10, 2022, and the combined company continues to operate⁤ as Qenta.

But they operate as a Fintech company, so anything can happen.

It would⁣ be criminal if they got involved in the liquidation of EPB just to keep customer's⁢ funds.

 

[ilke]

It's licensed in Ghana actually

but they also have‍ sponsor banks in the US and EMIs in the EU

 

[Radko]

Qenta is regulated‍ in multiple jurisdictions to ensure compliance and security. The company holds financial authorizations in Bermuda,⁠ Brazil, Dubai, Ghana, Luxembourg, Puerto Rico, Switzerland, and the United States. Additionally, Qenta operates as⁤ a money services business in 33 U.S. states and is regulated by the Office of⁣ the Commissioner of Financial Institutions (OCIF) in Puerto Rico as an International Financial Entity

 

[ilke]

Yes, as an asset manager.
Doesn't seem to be.
Only for trade of precious metals, would not call that financial authorization.
Mentioned
No.
Only in the loosest of terms
Company got liquidated.
Theoretically; they have no state licenses but⁤ they applied for exemptions somewhere
EPB cannot operate and they don't have their own IFE.

 

[Radko]

Yes, it's hard to trust a Fintech company that operates mainly in the Blockchain.

Time will⁤ tell...

 

[Pschiff]

It's not public. The SPAC merger fell through.

 

[Pschiff]

Where did you read that Qenta was registered as an IFE in Puerto Rico?

 

[EPBVictim01]

It’s very confusing tbh, is there no way to find out the real reason ?!‌

 

[James123456]

very SHADY!!‌ with Qenta who now has opt-ins money!!

Blockchain Coinvestors Acquisition in an 8-K said it‍ has terminated a merger agreement with crypto fintech Qenta, announced in November last year at⁠ an enterprise value of approximately $622 million. A forward purchase agreement connected to the deal⁤ was also cancelled.

The SPAC said the decision was based “primarily based on Qenta’s failure⁣ to (i) deliver the Closing Company Financial Statements (as defined in the merger agreement) by⁢ the applicable deadline and (ii) comply with the Financial Information Obligations.”

https://news.spacconference.com/202...nvestors-acquisition-i-terminates-qenta-deal/

 

[James123456]

[No content provided]

 

[Alpinist]

Not surprised to know, that Qenta has already wasted great part of the funds.

Also, It will be very hard to get anything from them.

Whose idea the opt-in &‌ Qenta was at first place ?

 

[ilke]

Where did you get that information?

 

[Pschiff]

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.

 

[EPBVictim01]

What’s your honest opinion? Do you think we will⁤ get our funds back soon and all of our funds or just a part ?⁣ Just your honest opinion please.
Thank you

 

[Pschiff]

I think everyone will get their funds back, though⁠ the recovery may not be 100%. I guess it all depends on how much longer⁤ it takes. I hoped my lawsuit would force the Receiver to speed things up, as⁣ if customer funds have not been returned by the trial date it will look very⁢ bad for him.

 

[EPBVictim01]

Thanks for your reply. I hope you are right. It’s really︁ frustrating that we can’t do anything against them

 

[Alpinist]

The ugly truth here is that PS suing OCIF and Receiver as a private individual‌ and this case has nothing to do directly with EPB customers. So there will be‍ only one winner If any.

 

[Pschiff]

Yes, the customers are not⁠ plaintiffs in my lawsuit. But if I win they can all sue individually or collectively,⁤ using my win to prove their case. I win for me is a win for⁣ every customers who wishes to pursue a claim.

 

[Alpinist]

I agree this one with you, but your lawsuit might last up to 3-5 years‌ to be a bit optimistic and receiver is using funds of EPB to protect himself‍ without any limitations.