OVZA
New Horizons Paraguay
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Euro Pacific bank is a scam

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I'm sorry to hear that some of you have been contacted by the tax authorities.‌ I have dealt with different tax authorities through out my life and I have gone‍ to court to fight the tax authorities in 3 occasions, I've won all 3.
My humble advice is to keep calm and not panic, everytime I was contacted by tax⁠ authorities there was a high degree of bluffing, they never had as much information as⁤ I thought they would. As we all know they play the game of inducing panic⁣ by threatening you with jail time, let them show you their cards, they have to⁢ prove with tangible evidence that you have committed a crime, so stay calm and don't︀ rush into doing anything.

HMRC is not nearly as nasty as other tax authorities, they︁ don't gain anything by sending you to jail, other foreign tax authorities all they want︂ to do is throw you in jail and leave you penniless.

Remember that having an︃ offshore account is perfectly legal, if you invested your money and you had capital gains︄ but you didn't pay taxes on that, it will be ok, chances are the taxes︅ that you owe are not that significant, so relax.

Best of luck.
 
I think at this point, if we dont get our money back, that would effectively‌ be a tax write off...
 
The irony of all this‍ is that none of us have any of that money, and we don't know if⁠ or when we will get it back.

You guys can literally tell the tax authorities⁤ "I will happily pay the taxes if I had any money."
 
I am losing track of the story.

Are we just waiting for a software fix‌ or is Novo bank still part of the problem?
 
I don't think at this point we know what's going on.
Everything was about the "freeze",‍ but it turned out the freeze was lifted back in February.
Then Peter said something⁠ about the bank lacking the necessary "software" to process all the wire transfers, but I'm⁤ sure if Novo bank wanted they could go ahead and transfer all the funds, so⁣ who knows what's going on, those updates given by the bank on their website don't⁢ explain much.

Personally, I think it would be better if nobody opted out, so all︀ the funds can be transferred to Qenta in one single transaction, and then from Qenta︁ we can all take our money to another financial institution.

I guess for now all︂ that we can do is wait until.....
 
Well it's︁ very confusing and EPB certainly aren't helping with their updates which don't identify the current︂ problems.
If we don't know the problems it's difficult for customers to know where to︃ focus their attention on getting their funds back.

I received a reply from Novo Bank's︄ complaint email service. Basically a holding email which looks fairly standard - "we're looking in︅ to the issue". I doubt I will hear anything else.
 
@Pschiff no news? You’ve gone quiet and so has the bank and Quenta. This is‌ a bad joke. What is going on? Customers won’t have any money to opt-in or‍ out if we continue like this. It’s been a year. Can we have an update⁠ and a real definitive date as to when customers will get their money back, if⁤ any is left.
Thank you

I got a reply from the bank saying that all⁣ negative interest/balance would not be deducted as wire transfer for opt out has been made⁢ beforehand. So I guess the negative interest only applies to accounts that have decided to︀ opt in. Still an absolute robbery if you ask me.
 
Funny is that now receiver does not accept anyone who wants to opt out.
 
It's difficult︂ to know what to believe from EPB . They seem to change their mind from︃ one week to another.

A few months back they said they were all ready to︄ send out wire transfers just as soon as they were given the go-ahead. But clearly︅ they weren't ready given the software situation !

Customers have been badly treated in terms︆ of information flow. It's only @Pschiff that has kept us informed of events.

Now we︇ don't know if it's just the software problem that is holding things up and no︈ idea of how long this is going to take. I think EPB need to communicate︉ better with customers. We have suffered enough over 11 months!
 
Blocked because of a software? Sorry but that's the most insulting thing we heard since‌ 10 months.
 
Week after week, do we have any news? purgatory hell paradise? Strategy, timing, who is‌ playing with our money? No clean informations at all…
 
Qetna, which includes many former members of EPB bank's staff, are working as fast as‌ they can. The hold up is the Receiver who is not working as fast to‍ resolve the technical issues that still remain that are required to process customer wires (issues⁠ with Eastnet) and complete the sale to Qetna. It's very frustrating, but there is not⁤ much anyone can do. Unfortunately, the receiver works on his own time table.
 
Yes, they are working on it. They processed all of the original wiring‌ instructions that were never acted on due to the Portugese government freeze. But they have‍ no actually authority at the bank. But they are doing all they can to help.⁠ The problem is there is a lot of stuff that only the Receiver can do,⁤ and he is taking a long time to get that stuff done.
 
First time I hear about a SWIFT issue... then they can receive⁢ the money, probably invest it, but they are blocked when attempting to send out? Can︀ they provide any evidences? And everyone at EPB and your lawyer are going to buy︁ this? What's next? The manager responsible for wire out is sick and will be back︂ within 2 months? They need to be sued right away!! To be honest, I was︃ confident to get back my money until I hear this lame excuse! 🙁
 
I was sure it wouldn't be fixed as soon as we'd like. We're all puppets in⁢ a puppet show. And I'll be boring but I'll repeat that this is about our︀ money.
 
@Pschiff do you know what it is that the Receiver is being⁢ slow about ? Rehiring the software company?
Do you know what all the issues are︀ in getting the wire transfers processed?
 
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