Euro Pacific bank is a scam

[spartan7510]

Please sue this recievers a*s off, especially for the $500 00k loss this mongrel caused⁢ for the bank. Perhaps us customers should start to look at group litigation against this︀ receiver?

How do you make a complaint against a practicing attorney in Puerto Rico?

You can file a complaint with the Solicitor General of the Puerto Rico Department of Justice.︁ You can also file a complaint directly with the Puerto Rico Supreme Court.

The complaint︂ may be either in English or Spanish and can be filed either in person or︃ by mail.

Until a few years ago you could also file a complaint (in English︄ or Spanish) with the Ethics Committee of the Puerto Rico Bar Association but that’s no︅ longer the case because P.R. Bar Association membership, which was mandatory until 2010 for practicing︆ attorneys, is no longer compulsory and the Puerto Rico Supreme Court handles all ethics complaints︇ directly now.

If the misconduct arises in the context of a Federal case, a complaint︈ in English can also be filed with the US District Court for the District of︉ Puerto Rico which has its own Code of Ethics for lawyers admitted to Federal practice.︊

 

[Radko]

TIMELINE
1- Novo had a freeze on the account but it was a secret and‌ customers were not allowed to know.
2- The freeze was lifted in February but the‍ bank didn't find out until April so more time wasted.
3- Novo is not answering⁠ emails or phone calls, strange to say the least.
4- EPB/Qenta doesn't have the necessary⁤ software to interact with Novo, but the software "EastNets" is currently being used by 800⁣ financial institutions around the world without any issues.
5- The Receiver is a lazy guy⁢ who only cares about delaying this process so he can carry on charging $$$, so︀ he is taking his time.

What will be next? We don't know but I'm sure︁ there will be another problem, maybe Novo won't execute the wire transfers because they have︂ the money tied up in some type of investment. Maybe the Receiver is going to︃ charge so much money for his services that there won't be that much money left.︄
The priority is not to return the funds, the priority is to drag this situation︅ as long as possible so they can make more money.

COUNT ME IN!

I WILL HAPPILY PARTICIPATE IN DOING SOMETHING TO HOLD THE RECEICER ACCOUNTABLE⁠ FOR HIS INCOMPETENCE.

 

[orion7352]

Yes I definitely get the feeling there are different agendas here and︈ customers are simply being played for fools.

 

[Pschiff]

No customer would have been inconvenienced, not a penny would︇ have been tied up or lost, had OCIF approved the proposed sale to Qenta. Qetna︈ was going to add $7 million in additional capital, bringing total bank capital close to︉ $10 million. There was no valid reason for OCFI to have denied this sale. The︊ only reason OCIF gave for rejecting the sale was my continued tie to the bank︋ that resulted from my 4.15% ownership of Qetna stock. But had OCIF let me know︌ that was a problem, I would have restructured the sale to eliminate my ownership. But︍ the bad press about me was false, and OCIF knew it. Soon the world will︎ too after I win my defamation case and spread the word. Of course, since OCIF️ knew first hand the bank's AML and KYC was very good, which is what the‌ OCIF auditors told me personally following the bank's only OCIF audit that ended in 2021,‍ they could have held a press conference to defend the bank and call out the⁠ Australian media for promoting fake news. That would have solved the problem for everyone, expect⁤ the media outlet in Australia I was suing.

 

[ATNTESTING]

Yeah I googled Eastnet and they didn't say anything!! That's cool for︈ them, they can say any bulls**t they want and dumb customers will buy it!

 

[orion7352]

@Pschiff . If the wire transfers are already supposedly at Novo Bank and have been‌ there for months, why is software needed to process them? Why can't Novo Bank just‍ move them on to customers accounts ?

 

[Pschiff]

Novo's position is⁠ that the wiring instructions it has on file are too old, and it needs new⁤ instructions, which must be submitted through Eastnet. Getting Eastnet in a position to do this⁣ requires the help of the receiver, which he has been slow to provide. But this⁢ will eventualy be resolved, hopefully soon. I don't think OCIF want an entire year to︀ go by without customers getting their money back. It will be a full year on︁ June 30th.

 

[spartan7510]

We are going around in⁢ circles here... just got this reply from NOVO BANK

NOVO BANK say take up with︀ EuroPacific, EuroPacific state its recievers issue and fault to deal with, reciever states NOVO BANK︁ not releasing funds.....

Someone at EPB needs to take accountability and sort this out through︂ legal channels (litigation)

 

[Pschiff]

The only⁤ person left at EPB is the receiver. The bank's former staff, that now works for⁣ Qetna, is tying their best to help. They moved to Qenta to protect customers, as⁢ the bank doesn't have enough revenue coming in to pay their salaries. I never worked︀ at the bank, and have no real role in the liquidation anymore. I accomplished my︁ part a long time ago. My role was selling off the bank's fiscal assets, getting︂ the bank out of its office lease, and arranging the sale of opt in accounts︃ to Qenta, including the transfer of the bank's subsidiaries and staff to Qenta.

 

[orion7352]

@Pschiff . Does the Receiver have any of the old︁ Operations team to help him? Presumably he's going to need some help to fix the︂ software problem.

 

[Radko]

Thanks for letting us know a little bit more of︁ what is going on, the Receiver and Qenta are not providing us with any information︂ so we are left to speculate.
Let's hope this truly is the final chapter of︃ this ordeal.

 

[Pschiff]

Yes, the staff that formerly worked at the bank, but now works at‍ Qetna is available to supply that support free of charge. I worked that out in⁠ the deal for Qetna to acquire the customer base and some other assets. I tired⁤ my best to protect customers.

 

[orion7352]

So if it's true that the Receiver is being slow in solving the software problem.‌

Then what is the best action we can take as customers to speed up the‍ Receiver?

 

[Kruger]

I think it is ultimately up to us to⁠ put our collective heads together to devise a strategy. Leaving it to the powers that⁤ be is going to continue as it has the last 10 months until the money⁣ pool runs dry. Then it will be too late.

 

[Pschiff]

The receiver, having no banking experience what-so-ever prior to being appointed to run the bank,‌ has a sharp learning curve. Getting him to understand what needs to be done, and‍ then waiting for him to do the simple things he needs do to allow the⁠ Qenta staff (former EPB employees) to do their jobs., is the main reason for the⁤ delay. Complicating the process of educating the receiver, is that he wants to run stuff⁣ by OCIF, which adds additional time. He has also wasted time doing things that I⁢ and the Qetna staff do not believe were necessary to compete the task at hand.︀ All of this would have been avoided had OCIF approved the sale of the bank︁ to Qenta in Oct. of 2022, or allowed me to liquidate the bank on my︂ own without putting it into receivership.

 

[spartan7510]

Peter, we have already︃ heard this and agree with you. The question is what can we do to expedite︄ the return of our money?
I have emailed the recieved, he never responds. I have︅ called and had my Latino wife speak to his office, we always get put through︆ to his secretary who has less information to share than that published on the EPB︇ website updates... This is totally ridiculous.

 

[Radko]

Close to 11 months︃ of waiting around and the Receiver still needs time to learn some basic things, as︄ always lawyers have a special gift at wasting time, it more than obvious why, $$$.︅

 

[orion7352]

Yes the Receiver is deliberately evasive no question about that. I have called his office⁢ several times this week. No surprise he's "never in " or he will be there︀ in 2 hours time - which he never is when you call back.

I got︁ his company email

[email protected]

I sent an email but no surprise - no reply. Maybe︂ if more customers sent emails clogging up his mailbox he might get the message.
The only thing I can suggest is going to Puerto Rico to doorstep him. Does he︃ report to OCIF ? We could visit their offices too.

@Pschiff knows the situation in︄ Puerto Rico better than any of us. Maybe he has some suggestions for us .︅

 

[Pschiff]

We had a conference call with him today. Qenta and I are doing all we⁢ can to speed up what has become a needlessly slow process.

Don't call him. It just gives him extra work to do, and could slow︉ him down further. I want this resolved ASAP, and am already pushing him as best︊ I can.

 

[orion7352]

Understood. I think we all appreciate your continued communication with us and your⁤ continued effort to ensure customers receive their funds.