I am not accusing anyone here of fraud/scam I am just posing questions which a good businessman would pose to himself before entering into a business transaction
Euro Pacific bank is a scam
- Thread starter sonato
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Again at the time the deal was signed, the expectation was that the money would go immediately to the segregated accounts of the customers. No one anticipated the Portugese government freeze that stop that from happening. Of course, OCIF and the IRS (plus the other J5 tax agencies) are responsible for that, as it was their fraud that led to the freeze.
which segregated accounts??? Qenta is nowhere regulated so they can't offer segregated accounts. You are responsible for Qenta because YOU signed the asset deal. Period.
No the accounts were going to go into G-coin. Each customer was going to have their own account in gold. They had a license to provide those accounts. They were also trying to get additional licensing to offer currencies in addition to gold. All customers had a choice to withdraw their funds or allow the transfer to Qenta. Without that choice, all funds that were not withdrawn by customers where going to be confiscated by︀ the PR government. I thought Qenta was a better option.
They were waiting to recover all of the deposits, so that all of the bank's customers would be treated the same, regardless of their status as Opt in or Opt out. So Qenta was waiting for the bank to get the rest of the funds from Novo, before distributing money to the Opt ins. That what the Opt ins and Opt outs would all get paid at once. Plus if there was a short-fall, all customers would take the same percentage︀ haircut. There was no way to know what that would be until all the funds︁ were recovered.
G-Coin is unregulated entity which has been struck of from the commercial registry in Switzerland.
Also they NEVER had a licence. Wondering what sort of DD you did before selling.
Also they NEVER had a licence. Wondering what sort of DD you did before selling.
Qenta was going to buy the bank and add $8 million in capital. The bank was going to be a a separate company, wholly owned by Qenta. They were buying my shares. So the DD I did mainly related to me, as I was getting paid mostly in Qenta shares.I had another offer for the bank that was all gold. It actually had a higher value. But I thought Qenta︀ was more qualified to run the bank than the other buyer.
There were other buyers of the bank, but both OCIF and the liquidator refused to even consider their offers. Qenta was never deemed unfit to own the bank. The IRS wanted the bank shut down as a PR stunt for the J5. So the Commissioner rejected the sale she had initially supported. I only went through with it after she told︀ us all that she was in favor of the transaction.
The bank was losing a of money back then due to the bad publicity about the J5 investigation. But the bank was never in bad financial shape as I was covering the bank's losses personally, about $250K per month. So customers where never at risk. All of their deposits were held in cash, plus a few︀ million extra cash in capital. Rate hikes would have been a huge positive for the︁ bank, as it could have earned interest on its deposits. It was earning a lot︂ of interest pre COVID. But after COVID the Fed cut rates to zero and the︃ bank lost out on a lot of income.
If Qenta has spent the funds before distributing them to customers, I guarantee you that they are not going to tell you, as it would be criminal to spend money that doesn't belong to Qenta.
And where do the rumors come from in the first place, nobody here has access to Qenta's financial statements.
And where do the rumors come from in the first place, nobody here has access to Qenta's financial statements.
Is this normal for them not to come back quickly in regards to something so important? Are we talking just days or weeks with no reply from them?
I still would like to know answer to below question plz.
P.S Qenta just needs to make a clear statement to clear the air if there are false︀ rumors flying around.
Right now with Qenta there are more red flags than a Chinese︁ street parade.
I still would like to know answer to below question plz.
P.S Qenta just needs to make a clear statement to clear the air if there are false︀ rumors flying around.
Right now with Qenta there are more red flags than a Chinese︁ street parade.
i wrote a message to the customer care and the message was forwarded to Qenta; they told me that a new window for opt-out will be open soon (i hope); this is what they told me as i tried to be an out-out in october 2022 but my transfer has been stopped somehow.
strange. With the fantastic communication by Qenta I guess everybody will be an opt-out given the opportunity
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