Euro Pacific bank is a scam
- Thread starter sonato
- Start date
- Status
Yeah I think we should definitely do something. Just being quiet and hoping will not help at all…
guys just to give you an idea.
Flowbank in Switzerland was closed last June 24. I am still waiting for my equities to be transferred.
Banking liquidations take a lot of time 🙁
Flowbank in Switzerland was closed last June 24. I am still waiting for my equities to be transferred.
Banking liquidations take a lot of time 🙁
Thats not good.
After all its being touted left and right you own the stocks, so everyone just assumes such a transfer is quick and easy. Since the stocks are not part of the liquidation process, Id also expect that process to be quick, like a week or two.
But reality is, thats not the case at all. It will take a long time.
I bet nothing would︀ happen if youd need to sell the stocks to fund an medical emergency in the︁ meantime.
One more to the great taking then (that one does not own stocks really︂ and it being merely an illusion).
how fast was the cash transferred? Do you wait︃ for the cash as well?
After all its being touted left and right you own the stocks, so everyone just assumes such a transfer is quick and easy. Since the stocks are not part of the liquidation process, Id also expect that process to be quick, like a week or two.
But reality is, thats not the case at all. It will take a long time.
I bet nothing would︀ happen if youd need to sell the stocks to fund an medical emergency in the︁ meantime.
One more to the great taking then (that one does not own stocks really︂ and it being merely an illusion).
how fast was the cash transferred? Do you wait︃ for the cash as well?
no cash was transferred in ca. 10 days, because thats privilieged money under the Depositor scheme.
Thats why it is so bad that EPB was never FDIC insured. If they would be FDIC member the depositors would get the
money in a matter of days
Thats why it is so bad that EPB was never FDIC insured. If they would be FDIC member the depositors would get the
money in a matter of days
Not a good idea unless you agree to meet with him ans he accepts. It could be taken as intimidation as emotions can run high in such situations.
You can try, I mean any law firm would be happy to take your money to do such a futile exercise as its money in their︀ pocket at end of day. However if your looking to do it on some sort︁ of no win no fee basis you will be laughed out of the office. Your︂ suing the I.R.S a federal government agency not Mr Jones 24hr plumbing service in Cleveland︃ Ohio. Your taking on the federal government of the U.S.
Just be patient I would︄ say.
You can try, I mean any law firm would be happy to take your money to do such a futile exercise as its money in their︀ pocket at end of day. However if your looking to do it on some sort︁ of no win no fee basis you will be laughed out of the office. Your︂ suing the I.R.S a federal government agency not Mr Jones 24hr plumbing service in Cleveland︃ Ohio. Your taking on the federal government of the U.S.
Just be patient I would︄ say.
An Entidad Financiera Internacional can theoretically join the FDIC insurance scheme but there are none that are currently participants, they're ultra-lucky if they can even get a Fed master account.
A classic bank license in Puerto Rico would be ineffective for serving foreign clientele in the way that EPB did and I do not believe it would be granted in the first place, just because that's not the correct application for it.︀
A great flight of fancy 🙂
A classic bank license in Puerto Rico would be ineffective for serving foreign clientele in the way that EPB did and I do not believe it would be granted in the first place, just because that's not the correct application for it.︀
A great flight of fancy 🙂
yes this is public knowledge, nevertheless it is possible. Also EPB never had a Fedwire acocunt so that is also a big issue for the liquidation process. Then the Novo sage never would have happened...
as I wrote I received my cash in ca. 10 days, but still no shares yet. There are a lot of customers still waiting for their shares
Scroll down here: https://nodusbank.com/#25eab3e1-9f2f-4a2e-a238-9736084cfffe and you will see an updated balance sheet (as of Nov 2024) for Nodus Bank, also in liquidation in PR. It lists 19 OFAC restricted funds
OFAC is Office of Foreign Assets Control and a financial intelligence and enforcement agency of the United States Treasury.
I only see 2 reasons why the receiver is not starting the liquidation , and I actually think it is a 3rd party reason:
1) Qenta is in financial trouble. Peter has indicated earlier that they may have used customer funds to keep their business going, and Qenta is ignoring opt-in clients´emails (facts). Was always highly︀ confusing/dodgy the whole setup. Peter apparantly wasnt allowed to sell to Qenta in 2022 but︁ then Qenta is a key part of the EPB liquidation processs. VERY confusing. Has anyone︂ looked closely at Qenta and how they are doing now? I see (and have always︃ seen) several red flags with them
2) There are OFAC restricted funds (customer accounts) with︄ EPB as well. Unless the receiver/ocif state that this is NOT the case (which they︅ wont), this cant be ruled out at all
OFAC is Office of Foreign Assets Control and a financial intelligence and enforcement agency of the United States Treasury.
I only see 2 reasons why the receiver is not starting the liquidation , and I actually think it is a 3rd party reason:
1) Qenta is in financial trouble. Peter has indicated earlier that they may have used customer funds to keep their business going, and Qenta is ignoring opt-in clients´emails (facts). Was always highly︀ confusing/dodgy the whole setup. Peter apparantly wasnt allowed to sell to Qenta in 2022 but︁ then Qenta is a key part of the EPB liquidation processs. VERY confusing. Has anyone︂ looked closely at Qenta and how they are doing now? I see (and have always︃ seen) several red flags with them
2) There are OFAC restricted funds (customer accounts) with︄ EPB as well. Unless the receiver/ocif state that this is NOT the case (which they︅ wont), this cant be ruled out at all
The Commissioner originally supported the sale to Qenta. But the IRS negotiated a deal with︄ her to reject the sale and put the bank into receivership instead. However, while in︅ receivership she did give permission for the bank to sell its assets to Qenta, especially︆ customers. I wanted to do that as OCIF threatened to keep any deposits that were︇ not transferred out. So I wanted to make sure customers who didn't Opt out and︈ request funds, got transferred to Qenta so they could recover their deposits.
Any chance that Qenta will end up screwing opt-in customers and won't return the funds, or maybe they will hold on to the funds for a longtime before returning them?
Opt-in customers were told that they could transfer their funds as soon as they are available, but it's hard to trust a Fintech company.
Opt-in customers were told that they could transfer their funds as soon as they are available, but it's hard to trust a Fintech company.
- Status