Euro Pacific bank is a scam
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Instead of bank they should chnge their profession to ban (for life of somebody else).
Considering that everything is true, now there are circumstances that allow us to say that they are holding our money illegally. We are entitled to︀ late payment interest.
Considering that everything is true, now there are circumstances that allow us to say that they are holding our money illegally. We are entitled to︀ late payment interest.
I doubt this very much. The Nostro account (i.e EPB's account) held at Novo Banco containing your funds is held under a︀ custody arrangement. It is therefore not on Novo Banks balance sheet or theirs to play︁ with.
Novo Banco's may just be acting within the terms of the correspondence banking agreement︂ it had with EPB which we have not seen. So they should not be blamed︃ yet. We have all held accounts where the small print allows in some cases the︄ bank to hold on to funds for months after a freeze 😉.
Right now no︅ one has produced a single piece of evidence or page of paperwork to show what︆ is happening. It has just been words, promises and blind faith all around which you︇ should be skeptical of.
Hopefully this saga will be over for you very shortly and︈ you can move on. There is light at the end of the tunnel and unlike︉ those over on the Loyal Bank thread that are still waiting on their funds years︊ later (and expecting to receive just 25% of their deposits back) you may emerge unscathed.︋
Novo Banco's may just be acting within the terms of the correspondence banking agreement︂ it had with EPB which we have not seen. So they should not be blamed︃ yet. We have all held accounts where the small print allows in some cases the︄ bank to hold on to funds for months after a freeze 😉.
Right now no︅ one has produced a single piece of evidence or page of paperwork to show what︆ is happening. It has just been words, promises and blind faith all around which you︇ should be skeptical of.
Hopefully this saga will be over for you very shortly and︈ you can move on. There is light at the end of the tunnel and unlike︉ those over on the Loyal Bank thread that are still waiting on their funds years︊ later (and expecting to receive just 25% of their deposits back) you may emerge unscathed.︋
There is a possibility that they were convinced that this piggy in the middle game would last until the corpses fell out of the closet. Then they would have put the bank's management in a pinch. Looking at what Mr. Shiff writes, we have seen the end of a rollercoaster that does not want to stop. The whole thing looks like some daring attempt to occupy someone else's finances. Would they decide to take such a step in view of legal perturbations? I feel like the s**t hasn't hit the fan yet.
From your︅ lips to God's ears.
I will add that there is "something different" about EPB, in︆ a regular bank you can pretty much close an account instantly, at an investment bank,︇ such as UBS, you were able to close your account within 24 hours, however I've︈ read reports of customers of EPB wanting to close their accounts and having to wait︉ for up to 2 months, which makes me think that EPB must have had a︊ different setup than let's say UBS with its custodian bank (Novo.)
But you are absolutely︋ correct, until EPB publishes something on their website everything else is pure speculation and words.︌
I will add that there is "something different" about EPB, in︆ a regular bank you can pretty much close an account instantly, at an investment bank,︇ such as UBS, you were able to close your account within 24 hours, however I've︈ read reports of customers of EPB wanting to close their accounts and having to wait︉ for up to 2 months, which makes me think that EPB must have had a︊ different setup than let's say UBS with its custodian bank (Novo.)
But you are absolutely︋ correct, until EPB publishes something on their website everything else is pure speculation and words.︌
Hi Peter,︈ is there any update on this? Just checked my NATWEST account - nothing been recieved︉ yet. What are the next steps from your side and your legal representation in Portugal?︊
also, please ignore the TROLL, most of us dont buy his BS and ignore the︋ gnat. Clearly has Schiff derangement syndrome. Responding to this crypto clown just feeds his ego︌ in that he is getting attention from you. Please focus on the topic at hand.︍
As I understand NOVO BANK is where EPB account is held. This was EPB choice︎ of correspondant bank (customer had no say in the matter) therefor the responsibility and liability️ to resolve this lies with EPB and you. Customers have no named account at NOVO BANK, therefor it would be difficult to take legal action against NOVO BANK from a consumer protection perspective, since we have no agreement with NOVO BANK. We are entirely at EPB and your mercy to resolve this on our behalf.
Again, thank-you for your efforts so far, it is frustrating to be in this position from your perspective and the customers with Banks taking advantage of the situation.
also, please ignore the TROLL, most of us dont buy his BS and ignore the︋ gnat. Clearly has Schiff derangement syndrome. Responding to this crypto clown just feeds his ego︌ in that he is getting attention from you. Please focus on the topic at hand.︍
As I understand NOVO BANK is where EPB account is held. This was EPB choice︎ of correspondant bank (customer had no say in the matter) therefor the responsibility and liability️ to resolve this lies with EPB and you. Customers have no named account at NOVO BANK, therefor it would be difficult to take legal action against NOVO BANK from a consumer protection perspective, since we have no agreement with NOVO BANK. We are entirely at EPB and your mercy to resolve this on our behalf.
Again, thank-you for your efforts so far, it is frustrating to be in this position from your perspective and the customers with Banks taking advantage of the situation.
The bank hired a lawyer months ago. If Novo continues to refuse to release the funds, legal action in Portugal will be required to get a court to order the funds released. So︀ far all the court has done is inform Novo that the government freeze on the︁ banks accounts has been lifted. Novo has no legal basis to hold onto the money.︂ Novo Bank doesn't give a s**t about Euro Pacific Bank anymore, or any of its︃ customers. So it may just try to hold onto the funds for as long as︄ it can get away with it.
I have no real authority at the bank. It's up to the Receiver, Novo and Qenta. I'm trying to work behind the scenes, but its really up to them. The bank has a Portugese lawyer. The bank had other corresponding banking accounts, but they all shut us down after the false allegations of money laundering and tax evasion, which also resulted in the bank losing its Fed account.
I have no real authority at the bank. It's up to the Receiver, Novo and Qenta. I'm trying to work behind the scenes, but its really up to them. The bank has a Portugese lawyer. The bank had other corresponding banking accounts, but they all shut us down after the false allegations of money laundering and tax evasion, which also resulted in the bank losing its Fed account.
Hello Peter, can you please at least give︅ us an official update with a proof that the government freeze has been lifted? Then︆ some of us can also try to work behind the scene like you said. So︇ far what can we tell them "yes, someone on internet said that blablabla..."?
I can understand more and more people are looking into Bitcoin to store their wealth, in the case of EuroPacific Bank you would hope the bank would remain 100% compliant, but it didn't, on top of that, the bank was investigated by no other than the J5, when the J5 finally cleared the bank of any wrong doing the Regulator closed the bank and kicked the customers out of its jurisdiction, when all that was finally over, the Portuguese authorities wanted to conduct their own investigation, months went by and when that investigation was finally over, the custodian bank doesn't want to return the funds,︀ if it wasn't A, it was B or C, or D.....or F.
I guess the︁ money was never really safe in the first place, so is Bitcoin the solution? I'm︂ not sure, you can wake up one day and find out that all your Bitcoin︃ is gone, there are just too many hackers out there waiting for you to make︄ a tiny mistake and steal your Bitcoin. So what about Gold, is your Gold really︅ safe in a vault in Australia, or Singapore, or Switzerland, probably not, there are dishonest︆ people everywhere, and is your Gold 99.99 pure Gold? Difficult to know, so what's the︇ solution, let's look at nature and see who is the most resourceful animal out there,︈ definitely a woman, she knows how to survive through thick and thin, and what do︉ women love more than anything else? Diamonds! You can store millions in the palm of︊ your hand and they keep up with inflation, so a woman's best friend, a diamond,︋ is the best place to store your wealth (just don't get married!)
After what has︌ happened it has been proven that a centralized system is arguably the riskiest of all.︍
I guess the︁ money was never really safe in the first place, so is Bitcoin the solution? I'm︂ not sure, you can wake up one day and find out that all your Bitcoin︃ is gone, there are just too many hackers out there waiting for you to make︄ a tiny mistake and steal your Bitcoin. So what about Gold, is your Gold really︅ safe in a vault in Australia, or Singapore, or Switzerland, probably not, there are dishonest︆ people everywhere, and is your Gold 99.99 pure Gold? Difficult to know, so what's the︇ solution, let's look at nature and see who is the most resourceful animal out there,︈ definitely a woman, she knows how to survive through thick and thin, and what do︉ women love more than anything else? Diamonds! You can store millions in the palm of︊ your hand and they keep up with inflation, so a woman's best friend, a diamond,︋ is the best place to store your wealth (just don't get married!)
After what has︌ happened it has been proven that a centralized system is arguably the riskiest of all.︍
Peter
Do we know the reason why Novo︅ banco won't process the wire transfers?
Can Novo Banco simply refuse to process the wire︆ transfers just because they no longer want to do business with EPB any longer?
In which case how would customers get reimbursed ?
Do we know the reason why Novo︅ banco won't process the wire transfers?
Can Novo Banco simply refuse to process the wire︆ transfers just because they no longer want to do business with EPB any longer?
In which case how would customers get reimbursed ?
Until then, I'll be homeless, and as a last resort, I'll go to Portugal and rob Novo Bank. In order not to hurt anyone in an act of desperation, the weapon will be fake. I will make a heist on my own money that has been stolen from me. As a result, I will︀ be arrested and jailed for stealing my own money from another thief.
I will join you and we can talk while we are under arrest waiting for the cops to bring us in front of the judge, we will be OK though, as we will be︀ charged and sentenced for Coercion (coercion is a crime in which you have tried to︁ force someone to do something, in this case return our money, that they don't want︂ to do, it doesn't matter if what you are try to accomplish is right or︃ wrong, it is a crime as you are supposed to go through the legal system,︄ and it's punishable with up 2 years in jail, but since we don't have a︅ criminal record in Portugal we won't go to prison.)
Anyone else wants to join?
PS, I've read the document that Peter attached and all that it says is that Novo︆ bank was informed that the release of the freeze took place on February 22nd, so︇ almost 2 months ago that they could have released the funds, but they didn't. I︈ guess they know that until a judge orders them to release the funds they can︉ carry on ignoring whatever requests they receive from EPB.
Novo bank is a bank that︊ was created right after the recession of 2008 by the Portuguese government to hold all︋ the bad mortgages that other Portuguese banks had at the time, so Novo bank is︌ pretty much a government bank, so they have the Portuguese government on their side. The︍ day the Regulator of Puerto Rico gave the press conference with the J5 representatives I︎ knew right then that we were in for a long wait, the press conference was️ the perfect excuse to hold on to the funds indefinitely, no one is going to snatch those funds easily.
Anyone else wants to join?
PS, I've read the document that Peter attached and all that it says is that Novo︆ bank was informed that the release of the freeze took place on February 22nd, so︇ almost 2 months ago that they could have released the funds, but they didn't. I︈ guess they know that until a judge orders them to release the funds they can︉ carry on ignoring whatever requests they receive from EPB.
Novo bank is a bank that︊ was created right after the recession of 2008 by the Portuguese government to hold all︋ the bad mortgages that other Portuguese banks had at the time, so Novo bank is︌ pretty much a government bank, so they have the Portuguese government on their side. The︍ day the Regulator of Puerto Rico gave the press conference with the J5 representatives I︎ knew right then that we were in for a long wait, the press conference was️ the perfect excuse to hold on to the funds indefinitely, no one is going to snatch those funds easily.
Thanks Peter. Then what's next? Can we all have a call (Peter, your lawyer, Qenta, customers) and figure out how we can work together to put pressure on Novo? Maybe involve the media as well? We deserve at least an update from Novo. What is their plan? What are their reasons to keep our funds?
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