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Euro Pacific bank is a scam

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I can⁠ only think that Qenta is hoping that some customers will stay with them.
And I⁤ can only hope that I will be able to get my money from them immediately,⁣ but I don't trust them one single bit. All this process must be costing them⁢ money and resources, and we know nothing is for free in this life.

Maybe Peter︀ could tell us how much Qenta paid to acquire the accounts.
 
Exactly. I just cannot see them just accepting earning a wire fee from all of‌ this debacle from those that want to withdraw their money the next day. There has‍ to be a catch somewhere along the line to make it worth while to them⁠ i.e a $2,000 a day withdrawal limit or something and high withdrawal fees.
 
We've been told that we will be able to withdraw our⁣ money at anytime, but we haven't been told at what cost.
Peter would know that⁢ I guess.
 
"By this time Euro Pacific International Bank (“EPIB”) “Opt-Out” customers have been contacted through the‌ designated website portal to upload certain information required by the Trustee to update and verify‍ information required to commence the liquidation process."
I still have no idea what documents to⁠ upload. I can't find this information anywhere.
 
I don't think the fee to have a wire sent would be⁠ high. No one thought it would take this long. The whole process was supposed to⁤ be completed a month after I sent the email asking customers what they wanted to⁣ do. Had the OCIF commissioner just allowed Qenta to buy the bank, or just allowed⁢ me to liquidate it myself without holding a press conference so the J5 could talk︀ about how they investigated the bank for money laundering and tax evasion, despite finding no︁ evidence of either, all the money would have been sent out by Aug or Sept︂ 2022 the latest
 
I have no idea. But it's OCIF and the Receiver's fault. I have no role‌ in what's happing anymore. They are incompetent and clearly don't care about customers. If the‍ Commissioner cared she would have approved the sale, or at least allowed me to liquidate⁠ the bank on my own. I had previously told her if I could not find⁤ a buyer for the bank that I would liquidate it myself and personally guarantee that⁣ no customer lost any money. She originally gave me her word she would never put⁢ the bank into receivership. Then about a year later she abruptly changed her mind without︀ any prior notice.

Just as an FYI, looking back there were a lot of false︁ accusation made on this board accusing the bank of facilitating tax evasion and money laundering.︂ That may have been a factor in causing the J5 to get suspicious of the︃ bank in the first place. So ironically Offshore Crop Talk may have been responsible for︄ the bank's demise.
 
I will never understand why the Commissioner︅ didn't give customers a 30-day period to withdraw their funds. She could have easily closed︆ the bank just a month later, and everyone would have been happy, except for the︇ Receiver of course.

We keep getting told about Novo Bank being the main reason for︈ the delay, but up to now no one has told us what the problem is,︉ that's suspicious.
 
The problem is that during the 8-month freeze, which resulted from false accusation in the‌ media that the bank was closed for money laundering and tax evasion, the bank lost‍ its ability to send wires due to a failure to keep it systems current with⁠ industry changes. There was a work around, but the receiver just never did what former⁤ bank employees working for Qenta instructed him to do. Portugal was the seventh government to⁣ waste time investigating the bank for money laundering and tax evasion. As every EPB customer⁢ knows, EPB likely had stricter KYC and AML procedures than any other bank. Yet the︀ bank was shut down merely to protect the media, that not only unethically publicized illegally︁ leaked details of a confidential criminal investigation, but also proclaimed the bank and me guilty︂ of crimes for which there was no evidence to ever file charges let alone get︃ convictions.
 
Hi, I received an email with a link that took me to that update. You should‍ have received an email as well, check your spam folder.

This update feels like one⁠ step forward, two steps back since the Receiver has now deactivated the necessary link to⁤ be able to upload the documents until the Commissioner approves the liquidation plan, and that⁣ won't happen until the Receiver can get the funds out of Novo Bank. It's been⁢ almost 9 months since the freeze was lifted and we are still stuck with that.︀ I wish the Receiver would give us more information.
 
I am expecting a request to upload our documents a second time (a few months︁ from now) as the excuse will be that the initial documents uploaded are no longer︂ valid due to the time period that the process has been 'stayed'
 

Pschiff Hello Peter, I have legal representation who has︄ been in contact with the reciever, in addtion to a long list of excuses, the︅ main hold-up still appears to be NOVO BANK refusing to release customer funds. You mentioned︆ previously this was not an issue, but was the reciever causing the hold-up, recievers response︇ appears to disagree with you on this. You also mentioned previously that you were going︈ to enlist a lawyer in Portugal to petition NOVO BANK to get this resolved and︉ release customer funds, It would be appreciated if you could follow-up on this and get︊ your lawyer involved, since the choice of using this despicable NOVO BANK was an EPB︋ descision alone and out of customers hands, therefore this would fall back to EPB management︌ to resolve.​

 
I hired a lawyer on behalf of the bank to get the Novo︂ freeze removed. That really turned out to be a waste of money, as the freeze︃ ended on its own, as it was only legally allowed to remain in place for︄ an 8-month maximum, unless evidence of money launder was actually found, which it was not.︅ When the freeze ended, the Receiver was told by former bank employees what he needed︆ to do to allow Novo to send out the wires. But he never did what︇ he needed to do. His in action I think allowed more things to laps. I︈ am not really familiar with all of it, as I never had anything to do︉ with the operation of the bank. But it is apparent to me that the receiver︊ has been a huge obstacle in this process. He had absolutely no banking experience when︋ he was appointed and a huge financial incentive to elongate the process. I don't think︌ there is anything I can do at this point. OCIF needs to get involved. The︍ OCIF Commissioner made this mess, so she needs to clean it up.
 
Is there a recommendation for an alternate and experienced reciever who has delt with bank︇ liquidations in Puerto Rico? We could look to petition the OCIF to remove Wigberto for︈ negligence in his duties, failing to stick to his own liquidation plan, however we would︉ not want to end up in same situaiton with another useless reciever. We need someone︊ who is known for this type of work in PR.
 
I was in Portugal a few weeks ago. I went to Novo Banks headquarters and‌ after more than an hour not getting anywhere, I finally managed to speak to a‍ lady who was familiar with the case. All that she was willing to share with⁠ me was "As of today we haven't received a proper channel to transfer the funds."⁤

I fully agree with Peter, the Commissioner is the only one responsible for everything that's⁣ happened. She had other, much better options that would have accomplished the same result, while⁢ truly protecting the interest of the Customers. We have lost access to our money because︀ of her, who never thought of the consequences of her actions, and here we are︁ almost 17 months later, with no end in sight.

*At some point all of us︂ should consider getting together to get a lawyer to represent us and put pressure on︃ the useless Commissioner.
 
The problem is that both the Commissioner and the Regulator are incompetent and merely puppets‌ of J5 who have commended the actions of the OCIF in suspending EPB and have‍ left the issue hanging in the air after there was no evidence of money laundering⁠ found. Now that J5 have failed to achieve that objective of finding criminal activity within⁤ EPB they have moved on as they accomplished their mission in getting the bank closed⁣ and have left the fallout to the 2 puppets to resolve who both have no⁢ clue what to do. Having tremendous power without competence is what we are up against︀ and throw in some inflated egos for good measuure. One big mess!
 
I think the OCIF Commissioner was illegally︄ pressured by the IRS to reject the sale of the bank to Qenta and put︅ the bank into receivership, so the J5 could confirm prior media reports that EPB was︆ in fact the target or Operation Atlantis. I think this was done at the request︇ of the Australian media company that I sued for defamation, as they were the only︈ party that had something to gain by the official confirmation. I don't have any proof︉ of this as none of the parties involved will admit to it, and likely destroyed︊ all the evidence of their crimes. But its the only possible explanation for the Commissioner's︋ actions and statements. What also makes it harder is that governments were part of the︌ criminal conspiracy, so its nearly impossible to get government to investigate itself, and courts are︍ reluctant to believe government officials can be this corrupt.
 
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