Euro Pacific bank is a scam
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$10K per month? In exchange for what? Make sure you get an audit of the monies, he might be spending half of his days at a Golf course, I'm not kidding, maybe hiring a private investigator would be worth it, he is obviously not in a rush.
Is that all he is charging? That's actually very cheap service receiver is charging. That's like only $500 a day....lol. Compared to Satabank which cost 10m and EY was billing 700 euros an hour per an employee. Oh and Satabank had 300m in deposits and 12,000 clients. Not a million miles away in terms of size.
https://theshiftnews.com/2021/02/17/ey-charges-mfsa-close-to-e11-million-for-satabank-job/
https://theshiftnews.com/2021/02/17/ey-charges-mfsa-close-to-e11-million-for-satabank-job/
Any constructive ideas to retrieve life savings? Any class lawsuit ideas to speed up the process? Maybe somebody would identify a law office specializing in class lawsuits and start preparing by organizing clients that are currently victims of EPB/OCIF?
I am speaking to a Puerto Rico lawyer later today about how they could help customers.
I also managed to speak to someone in the Receiver's office. They told me a statement is going to be released by OCIF about the situation but they wouldn't say what it would contain.
Doesn't sound like good news if OCIF has to release a statement?
I also managed to speak to someone in the Receiver's office. They told me a statement is going to be released by OCIF about the situation but they wouldn't say what it would contain.
Doesn't sound like good news if OCIF has to release a statement?
Official communication from OCIF/receiver or lawyer is what I am looking for since the beginning! Good or bad news...
The only statement they need to give us is a definitive date to return our funds, you can write that in one short sentence, anything else will just be more of same.
We are dealing we very cynical people, the fact that the lack of action by the Receiver has cost the bank to lose $500K in receivable explains everything.
We are dealing we very cynical people, the fact that the lack of action by the Receiver has cost the bank to lose $500K in receivable explains everything.
Over the last year, in one of the many statements via Qenta/EPB, we were︉ told that the problem was no longer the receiver and that Novo Banco were keeping︊ our money. And then, when we almost mounted a legal defence in Portugal, we were︋ told that it was all hush hush and the Portuguese Government itself were investigating us︌ all. Then we were told that Novo Banco were holding our money again. Last month,︍ EPB told us our money had been released from Novo Banco but changes in the︎ SWIFT system meant that Qenta/EBP were having trouble making the transfers. When I mentioned that️ this excuse was ridiculous it went very quiet.
And now, out of the blue we are back to the bloody receiver and more whining about how much it is costing Mr Schiff but unlike Mr Schiff, EPB clients can’t afford the Luxury of the Grosvenor apartments in Mayfair or flights to Connecticut.
Once more, we need to start a class action together to fight to get our money back. As it it is, it is obvious that Schiff is setting this up to return pennies on the dollar.
And now, out of the blue we are back to the bloody receiver and more whining about how much it is costing Mr Schiff but unlike Mr Schiff, EPB clients can’t afford the Luxury of the Grosvenor apartments in Mayfair or flights to Connecticut.
Once more, we need to start a class action together to fight to get our money back. As it it is, it is obvious that Schiff is setting this up to return pennies on the dollar.
Peter Schiff has nothing to do with everything that's going on right︇ now, EPB and its destiny is in the hands of the OCIF/Receiver, they are the︈ ones you should complain to, but the chances of winning a lawsuit against them in︉ a Puerto Rican Court House are very low.
Right now we should wait until things︊ clear up and we find out if we are going to get all our money︋ back, or just part of it, or nothing. Then we can decide the best course︌ of action, a lawsuit against OCIF would be lengthy and expensive unless we all agree︍ to pay for it as a group, but for now as frustrating as it is,︎ I'm going to wait.
There is no point in making things worse until we know️ for sure that's the only option left.
Right now we should wait until things︊ clear up and we find out if we are going to get all our money︋ back, or just part of it, or nothing. Then we can decide the best course︌ of action, a lawsuit against OCIF would be lengthy and expensive unless we all agree︍ to pay for it as a group, but for now as frustrating as it is,︎ I'm going to wait.
There is no point in making things worse until we know️ for sure that's the only option left.
What Schiff and Qenta are responsible for is a︂ steady flow of misdirection and misinformation designed specifically to prevent us, EPB clients, from mounting︃ a coherent defence.
I just had a good online meeting with one of the top lawyers in Puerto Rico. They have acted for OCIF in other liquidations.
They know this case very well and are already acting for a number of EPB customers.
They asked me not to mention their name at this stage because they are not acting for me right now.
They know that Lugo Mender is a poor communicator and OCIF is also aware that the communication with EPB customers has been bad.
Basically OCIF is taking charge of the situation and there are some legal changes required to Qenta's purchase of EPB to be︀ done before OCIF can make the announcement.
OCIF is somehow going to do the wire︁ transfers. The guy didn't know precisely the mechanics of this . Customers will have to︂ resubmit their wires because the old ones have expired.
I asked about whether there would︃ be deductions. They said at this stage that customers are likely to be repaid in︄ full.
This law firm didn't think at this stage that EPB customers had a claim︅ against the Receiver or OCIF. So we left it that if the situation did not︆ work as planned that I would then re-engage with this law firm.
Like everything with︇ the EPB saga we will only believe it when we see it.
But the call︈ was encouraging.
They know this case very well and are already acting for a number of EPB customers.
They asked me not to mention their name at this stage because they are not acting for me right now.
They know that Lugo Mender is a poor communicator and OCIF is also aware that the communication with EPB customers has been bad.
Basically OCIF is taking charge of the situation and there are some legal changes required to Qenta's purchase of EPB to be︀ done before OCIF can make the announcement.
OCIF is somehow going to do the wire︁ transfers. The guy didn't know precisely the mechanics of this . Customers will have to︂ resubmit their wires because the old ones have expired.
I asked about whether there would︃ be deductions. They said at this stage that customers are likely to be repaid in︄ full.
This law firm didn't think at this stage that EPB customers had a claim︅ against the Receiver or OCIF. So we left it that if the situation did not︆ work as planned that I would then re-engage with this law firm.
Like everything with︇ the EPB saga we will only believe it when we see it.
But the call︈ was encouraging.
acting for a number of EPB customers... means not all?
and not you?
I don't understand what you mean.
It's like some customers will get back their money but not all?
and not you?
I don't understand what you mean.
It's like some customers will get back their money but not all?
Yes I think a few customers have hired this law firm. So those customers have simply been better informed than we have but they are not going to be ahead of anyone else in being paid out.
So don't worry we are not going to be disadvantaged.
Hopefully the OCIF announcement will come out within the next 2 weeks. Apparently OCIF have already been working on it for 2 weeks. Legal bureaucracy is slowing it down.
You know as much as I do now and we are︀ in the same position. The law firm were very honest. They said at this stage︁ there is no need for us to hire this law firm. The resolution is in︂ progress with OCIF.
So don't worry we are not going to be disadvantaged.
Hopefully the OCIF announcement will come out within the next 2 weeks. Apparently OCIF have already been working on it for 2 weeks. Legal bureaucracy is slowing it down.
You know as much as I do now and we are︀ in the same position. The law firm were very honest. They said at this stage︁ there is no need for us to hire this law firm. The resolution is in︂ progress with OCIF.
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