Euro Pacific bank is a scam
- Thread starter sonato
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Correct, it was a name change. When I first did the deal to sell the bank it was to Emergent Technologies. While we were waiting for OCIF to give final approval for the sale, the company changed its name to Qenta. I think it bought a company called Qenta, and decided to use that name instead.
I didn't get any emails so haven't visited this︃ forum in a while. I had no idea so many new posts where here. I︄ get very little irnformation for either the receiver or Qenta. I have tried, but to︅ no success. That in and of itself is disturbing. It's completely out of my control.︆ All I have now is my lawsuit. My recommendation is that the customers file their︇ own lawsuit as a class against OCIF and the IRS.
I'm sorry this︄ happened to you. But EPB was a good bank. It was going to get a︅ lot better too with the deal we had with American Express and upgrading our account︆ with the Fed to online. But then the IRS and the media destroyed the bank.︇ You can read my lawsuit on www.9fraud.com.
EPB was compliant. The Commissioner lied about that to justify her actions, which was done at the request of the IRS on behalf of the J5 as a publicity stunt. They wanted to frame the bank for tax evasion and money laundering, then take credit for shutting it down.
Neither OCIF or︉ the receiver are covered. The was no reason to put the bank into receivership. They︊ should have allowed Qenta to contributed the $8 million in capital in 2022 and buy︋ the bank. The bank would have had over 10 million in capital, and all accounts︌ would have been fine. Also, had they not held that fraudulent press conference or issued︍ fraudulent press releases, Novo never would have frozen the bank's account. So all Opt out︎ funds would have been wired out in 2022, and all opt-in accounts would have been️ segregated at Qenta and available to be withdrawn.
Qenta got all the gold that was stored in Silver Bullion (We had to move it from Perth) plus all the U.S. dollars that were in the bank's IB account. We moved them there when the bank lost its Fed account. That was the result of the bad publicity following the illegal leak of the Atlantis Investigation, that ultimately exonerated the bank.
I did all I could for the former customers. I added $7 million in capital in 2021 to protect customers and lost every penny. Corrupt government officials conspired to shut down the bank. I had no control Be made at the IRS, the HMRC, the ATO, the OCIF Commissioner, the Receiver. They did this. I did all that I could to prevent it.
The reason that I am suing personally is that the bank released OCIF from liability.︆ So the bank can't sue. Only I am allowed to sue, and only for my︇ personal losses. OCIF is trying to use that release to have my lawsuit dismissed. I︈ am not really suing over the money. I am suing to get the truth to︉ come out. I think customers have an excellent lawsuit. I really wish they would file︊ one.
Qenta was not deemed to be unfit or improper. The IRS intervened to block the sale. They wanted the bank shut down to use it as a PR stunt for the J5. I arranged for Qenta to take the accounts of the Opt ins, as OCIF was going to seize any funds that were not returned to customers. So I wanted︀ to make sure customers had a better option. Also, there were other PR banks that︁ wanted the accounts, but the OCIF Commissioner refused to allow any other PR bank to︂ take them. What screwed it up was the Novo freeze, which was a result of︃ the IRS and J5 falsely accusing the bank of being shut down for money laundering︄ and tax evasion.
They agreed to pay 1.25 million for the assets of the bank. They paid $500K up front. I have been informed by Qenta that they will not pay the balance, as they claim the delay in the liquidation cost them more than that in extra expenses.
The alarm Marin sounded︆ was false. Nothing bad was happening at the bank. It was going well, and would︇ have gotten even better had the IRS/J5 not destroyed it. The bank did not need︈ FDIC insurance. When the bad press came out about 200 million was withdrawn in under︉ a year. That was 75% of the bank's deposits. NO FDIC insured bank could have︊ survived a run like that. But my bank did. When will you understand it was︋ all a frame up by the IRS/J5 with OCIF's help. They needed to pretend the︌ bank was facilitating money laundering and tax evasion so they could take credit for shutting︍ it down.
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