https://europacbank.com/support/receiver-reports-20240311/
Who can help contextualize these numbers?
Thanks
Who can help contextualize these numbers?
Thanks
Euro Pacific bank is a scam
- Thread starter sonato
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Trustee has been paid $86k and just over $1m has been paid in winding down fees for a total of $1.1m in costs up till Sept 2023 it seems. No details on what the winding down fees are for but maybe staff, legal costs, software etc.
Those fees should have been minimal. Other than the receiver the bank has had no payroll and no office rent. All the employees were transferred to Qetna. Those that did not go to Qenta quit. Had I been able to liquidate the bank myself, none of those expenses would have been incurred. Plus︀ ,the bank would have received about $500K from Currency Matter, which the receiver blew, and︁ the balance of $700K balance of the $1.2 million paid by Qenta for the accounts.︂ Also had I been allowed to liquidate the bank all funds would have been paid︃ to customers no later than Q4 of 2022.
In that case those winding down fees of over a $1m needs to be audited at some point down the line just so people understand what that money was actually spent on ns2.
I think the main reason the bank has not been liquidated, and customers don't have their funds, is so that the bank can keep paying those fees. The relationships between the Receiver, OCIF, and those receiving those fees needs to be investigated.
The bank no longer has a staff. The were all let over 1.5 years ago. Also there is no rent, as the office shut over 15 years ago as well. It's just the receiver and whoever he hired to help him. Though based on what he's done he didn't need any help.
Makes me laugh when I read their first update in August 2022... Commencement of Bank Liquidation - Euro Pacific Bank
Not true. Had the sale gone through I would have been a 4% minority shareholder in a public company. I would not have been a board member, an officer, or even an employee. Just a passive investor. Also, had OCIF asked we could have restructured the deal to eliminate that ownership. That was just an excuse. OCIF wanted to shut the bank down to send a message that︀ Puerto Rico would not be a haven for tax evaders and money lauders. Not because︁ the bank was actually facilitating either, but due to false allegations made by the media︂ that it was. After OCIF rejected the sale to Qenta, other buyers stepped up. But︃ OCIF refused to allow anyone to buy the bank. The Commissioner wanted it shut down︄ and she wanted all the customers out of Puerto Rico, due to their reputation for︅ being organized criminals, drug dealers, money launderers, and tax evaders, despite knowing none of that︆ was true. The truth didn't matter. All that mattered was the false public perception created︇ by the lies told by the media.
Someone committed suicide over this as their entire wealth was in the bank and people are STILL awaiting its release ~ Bitcoin fixes this.
Have you seen compliance salaries in crypto compared to say marketing or devs lol?
Have you seen compliance salaries in crypto compared to say marketing or devs lol?
This is so sad.... stupi#21
Those involved should be charged with "involuntary" felony murder. They should NOT be imprisoned per sé, but it should be on their permanent record, openly visible on the blockchain! They may have the shadow of the Grim Reaper! It's good for others to know... 😉
Those involved should be charged with "involuntary" felony murder. They should NOT be imprisoned per sé, but it should be on their permanent record, openly visible on the blockchain! They may have the shadow of the Grim Reaper! It's good for others to know... 😉
I wonder if we'll be at the same dead end next year. I closed my business last month. I can't pretend that everything is ok anymore and I won't be able to pay everything from my own wallet. I wanted well for my business and for my business partners. It's taking too long. Long enough to endanger my family's safety. There will be more victims. The debts are high. I will never be trustworthy again. That's my own defeat by why caused by someone lazy and so destructive.
Hi All,
anyone has any news? Maybe the group with the legal representative, any news you can share?
What worries me is that no one has the incentive to give us back our money. It's not laziness, it's different convenience. We should think how to realign incentives. If the receiver wants some money or some girlfriends, maybe we can find a way
Mike
anyone has any news? Maybe the group with the legal representative, any news you can share?
What worries me is that no one has the incentive to give us back our money. It's not laziness, it's different convenience. We should think how to realign incentives. If the receiver wants some money or some girlfriends, maybe we can find a way
Mike
Lol..he has all your money already so I don't think this will work. And have you seen the women in Puerto Rico I am sure he would be spoiled for choice already 😉
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