Euro Pacific bank is a scam

[ILOVEROME]

The opt-in clients are in a much worse position than opt-out clients. Qenta is in‌ financial trouble and the receiver made sure to cover himself in the following way:

• Opt-in clients had to confirm to be with Qenta
  
• No client could change afterwards
  

Opt-out clients‍ gambled: Quicker expected “due diligence” (as the money was transferred to 1 entity Qenta) BUT⁠ with a massive counterparty risk (a financial company with risky activity: Qenta)

Qenta didn’t separate⁤ client asset (it was amalgamated) from their general assets/activity and industry rumor is that Qenta⁣ will not survive. Qenta was not legally obliged to separate.

Look no further to the⁢ following facts:

• None of you will be able to get meaningful message out of Qenta.︀ Try to reach out to their leadership team!
  
• Senior management has been leaving Qenta recently,︁ including Mariame McIntosh (President) https://www.linkedin.com/in/mariame-mcintosh-robinson-957213/. Others like their Chief Compliance officer doesn’t even list︂ Qenta as where he works!
  
• What James pointed out above
  

The receiver is covered. He︃ is only responsible for opt-out clients and Qenta for opt-in. He has this signed and︄ he is backed up by OCIF.

The % recovery of funds will be much much︅ much lower for opt-in clients than for opt-out clients. Probably 0-15% vs. 80-95% !

And Peter will be very quiet now in this forum! as he knows all this, and︆ he was the mastermind behind this highly unorthodox “opt-in / opt-out setup” recommending his pals︇ at Qenta where he was a shareholder!

 

[EPBVictim01]

Do you have a telegram group or something like that where you︄ stay in touch with each other ? I used to speak to someone who was︅ in a group represented by the lawyer but because I couldn’t pay and join he︆ started to ignoring me.

 

[SCHLOSSFINANZ]

If you read all my post you already found direct︅ links to the commercial registry in Geneva I posted, where you can validate that these︆ 2 companies have been struck-off

 

[Radko]

Yes, I do agree that Qenta cannot be trusted.
I started‍ raising questions about Qenta a longtime ago, but nobody listened. I'm glad that we are⁠ now all talking about it.

The fact is that Qenta is a private company, so⁤ we can't see financial statements, therefore it's impossible to know if Qenta is profitable or⁣ not.

However, we do know that a good number of EuroPacific employees went to work⁢ for Qenta, that's a good sign.
We also know that Qenta agreed to pay 1.25M︀ in order to acquire the accounts (I don't know if Qenta has paid the full︁ amount), but that is also a good sign.

Again... it would be criminal if Qenta︂ got involved in the liquidation of EPB just to end up stealing the funds.
It would be a terrible headline if Opt-out customers end up getting their money back, and︃ Opt-in customers end up losing all their money.

Also, at the moment Opt-in customers are︄ not officially customers of Qenta. In order to be Qenta customer you have to download︅ the Qenta App and register.
I've asked @Pschiff to tell us what is the status︆ of Opt-in customers at the moment (we are not with the Receiver, but we are︇ also not Qenta customers).
Unfortunately @Pschiff has not replied.

QUESTION:
Should all Opt-in customers send︈ an email to the Receiver asking him to let us Opt-out based on the fact︉ that we don't trust Qenta?
Most likely the Receiver will ignore us, but it's worth︊ trying.

 

[SCHLOSSFINANZ]

send a written letter with Fedex that will be more succesful

 

[Tom47747]

118 pages so far in this thread, almost useless. You keep discussing the same things,‌ PS keeps giving the same answers.

 

[SCHLOSSFINANZ]

yes thats exactly my conclusion. PS is always defending himself and blaming other and keeps‌ repeating the same text again and again

 

[galatrava02]

How to proceed now? no news anymore ?
What to do?

 

[Radko]

Peter can you please give us your opinion about Qenta, do you⁤ think Opt-in customers will get their money back from Qenta?

Are there any risks with⁣ Qenta?

Thank you.

 

[Tom47747]

and you guys‍ keep asking the same things again and again, even though PS cannot answer them all!⁠ Would you stop wasting your time in making stupid assumptions? Either file a lawsuit or⁤ wait for your (OUR) funds to be sent back, a bank liquidationn might take 4⁣ or 5 years so stop crying here everyday and wake up!

 

[daniels27]

It is like 5-year-old kids when they realise the US cream dropped in the floor.‌ No need to be nervous now.

 

[Martin Everson]

I am sure PS will come back in his own time and answer the below‌ questions I asked below.

 

[EPBVictim01]

Honestly a bank liquidation where the funds are all in the⁣ hand of the receiver doesn’t take that long. If it would be a liquidation where⁢ all the assets needs to be liquidated etc it makes sense that it takes 4-5︀ years, but in this case not at all.
Let’s hope for a miracle that we︁ will get soon a positive notification!

 

[Tom47747]

and while you guys are hoping for kinda⁣ miracle, please stop complaining everyday and filling this thread with useless arguments. It's getting annoying.⁢

 

[SCHLOSSFINANZ]

Can you please stop telling people what they have to do or not?
This thread‌ exchanges information of any kind regarding the topic EPB. If you don't like it don't‍ read it.

 

[James123456]

EasyBank (Austrian bank: https://www.easybank.at/easybank):

Is entering Puerto Rico in 2025 as an “Entidad financiera‌ internacional” (EFI, or International Financial entity) – just like Euro Pacific Bank was !

See local recent PR news: https://www.elnuevodia.com/english/...aims-to-become-a-digital-bank-in-puerto-rico/

So clearly OCIF not closing down all EFIs – as‍ has been stated (wrongly) on numerous occasions! Some seem to be able to follow the⁠ rules!

 

[SCHLOSSFINANZ]

BOTH companies have no connection whatsoever... its just the same name by accident

 

[ilke]

To kill the banking business that was at least in part helping finance this bankrupt banana⁠ land?

Sorry but who in their right mind is gonna put capital higher than several⁤ EU & tier 1 jurisdictions and all the other offshore banking countries into a US⁣ territory that was stuck in bankruptcy just a few years ago and is hardly recovering?⁢

For what benefit? To maybe clear USD on your own in 3-5 years if the︀ NY Fed feels very very kind?

 

[SCHLOSSFINANZ]

exactly, it was a political decision to increase the hurdles so high from OCIF and‌ the current government.
There were too many scandals and non-compliance like EPB and others.

Even the annual fees of 25,000 USD are crazy.

https://www.mcvpr.com/newsroom-publications-IBE-IFE-Reform

 

[ilke]

For sure, but you should not throw‍ the baby out with the bathwater.

It's like buying 50 apples, finding 1 ugly apple,⁠ and throwing the other 49 out without taking a single look at them. Sure, you⁤ protect yourself from having to try 49 other apples that could be good or bad,⁣ but you also stay hungry smi(&%
But do we really know that EPB did something︀ wrong?

I mean there are accusations of insolvency but if we take @Pschiff statements at︁ face value, the bank was not lending and its capital was (and still seems to︂ be for now) enough to pay out the depositors without much trouble. Novo was a︃ hold up but the funds were not lost.

And there also does not exist legal︄ evidence that EPB was laundering or only holding accounts for tax evaders. I don't want︅ to play devil's advocate; on the other hand, one is always innocent until proven guilty.︆
This is true, but I think we all already knew PR is quite a joke︈ jurisdiction.

Its only selling point was the low capital and decently simple past compliance. Now︉ it is almost worthless for international banking except for the few institutions that have accounts︊ at the Fed or BoA/JPM.