The problem is most of the customers are completely broke and don’t have even money for a lawsuit, if you offer to support us︀ financially I’m sure many would be part of the lawsuit.
Euro Pacific bank is a scam
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That’s why I said „if“ because everybody is saying something else admin really got confused and frustrated…. Some are blaming you, some are blaming Quenta, some are blaming the OCIF and receiver….
It’s just frustratin that nobody talks to us…
It’s just frustratin that nobody talks to us…
@PS sorry but it is difficult to believe that suddenly you do not have contact anymore with Qenta,
or even doesn't now if they are still operating, doing biz. Are they a scam and took the money and run?
or even doesn't now if they are still operating, doing biz. Are they a scam and took the money and run?
So has Qenta returned the opt-out portion of funds to the receiver yet or is what you said [see below] true on that front also?
Do you also know how much of the opt-out client assets were sent︀ to Qenta?
Do you also know how much of the opt-out client assets were sent︀ to Qenta?
I don't know if they are segregated. When I agreed to the sale of the asset to Qenta, the funds were going to go directly into customer's accounts, which would have been segregated. But the transfers got held up, first by Novo Bank (due to 8-month Portugese Govt. freeze), then by the receiver. So in the interim I think Qenta just held the funds in its own account, waiting for al the funds to be released so︀ as not to favor Opt in over Opt out customers. The rumors seem to be︁ that Qenta used some of those funds to finance it own operating losses, and may︂ not now be in a position to return those funds to former bank customers. I︃ have no idea if that is true, and I have been trying to find out.︄ Thus far I have no information to confirm or deny this. As of now, I︅ am as much in the dark as any of you.
https://www.fondsprofessionell.at/n...-geht-an-frankfurter-investment-firma-201015/
Translation:
Wirecard CEE goes to Frankfurt investment firm
Wirecard CEE, the Austrian subsidiary of the insolvent payment processor Wirecard, is likely to be sold to the private equity house Aurin Investment Group GmbH based in Frankfurt/Main. Creditors are likely to receive back claims amounting to around five million euros.
A best bidder has been found for the insolvent Austrian payment processor Wirecard CEE. The insolvency administrator Ulla Reisch has submitted a purchase agreement negotiated with Aurin Investment Group GmbH (Frankfurt/Main) for approval. Aurin intends to rename the company Qenta, according to the insolvency administrator.
Presumably five million euros in recognized liabilities
A positive aspect︀ from the creditors' point of view is that it should be possible to cover most︁ of the liabilities with the help of the purchase price achieved and the credit balances︂ available when the insolvency proceedings were opened, report the experts from the Alpine Creditors' Association︃ AKV. The creditors have so far registered around six million euros in insolvency claims. For︄ the time being, claims amounting to around 3.6 million euros have been recognized, whereby the︅ expected amount of liabilities to be recognized is likely to be around five million euros.︆
According to AKV, Wirecard CEE will continue to operate to a limited extent, with only︇ 22 of the former 157 employees still employed. The Austrian part of the business will︈ be sold in agreement with the German insolvency administrator.
One hundred percent subsidiary
Bankruptcy proceedings︉ were opened for Wirecard Central Eastern Europe GmbH, based in 8020 Graz, on July︊ 3, 2020. It is a wholly owned subsidiary of the German Wirecard Sales International Holding︋ GmbH, which also went bankrupt in the summer following a multi-billion euro accounting fraud. (eml)︌
Translation:
Wirecard CEE goes to Frankfurt investment firm
Wirecard CEE, the Austrian subsidiary of the insolvent payment processor Wirecard, is likely to be sold to the private equity house Aurin Investment Group GmbH based in Frankfurt/Main. Creditors are likely to receive back claims amounting to around five million euros.
A best bidder has been found for the insolvent Austrian payment processor Wirecard CEE. The insolvency administrator Ulla Reisch has submitted a purchase agreement negotiated with Aurin Investment Group GmbH (Frankfurt/Main) for approval. Aurin intends to rename the company Qenta, according to the insolvency administrator.
Presumably five million euros in recognized liabilities
A positive aspect︀ from the creditors' point of view is that it should be possible to cover most︁ of the liabilities with the help of the purchase price achieved and the credit balances︂ available when the insolvency proceedings were opened, report the experts from the Alpine Creditors' Association︃ AKV. The creditors have so far registered around six million euros in insolvency claims. For︄ the time being, claims amounting to around 3.6 million euros have been recognized, whereby the︅ expected amount of liabilities to be recognized is likely to be around five million euros.︆
According to AKV, Wirecard CEE will continue to operate to a limited extent, with only︇ 22 of the former 157 employees still employed. The Austrian part of the business will︈ be sold in agreement with the German insolvency administrator.
One hundred percent subsidiary
Bankruptcy proceedings︉ were opened for Wirecard Central Eastern Europe GmbH, based in 8020 Graz, on July︊ 3, 2020. It is a wholly owned subsidiary of the German Wirecard Sales International Holding︋ GmbH, which also went bankrupt in the summer following a multi-billion euro accounting fraud. (eml)︌
I don't know. But it would not have been ethical and I certainly would not have approved of that. But it never would have happened but for the illegal deal made between the IRS and the OCIF Commissioner. A lawsuit against those guilty parties is your best recourse.
Not sure of the law, but if the funds are not there, customers are creditors and can demand repayment. If Qenta doesn't have the money, then it can be forced into bankruptcy, with its assets liquidated to repay creditors. I think bank customers would be unsecured creditors though. Again, I'm not sure. I have not researched it. But again, I have no information either way. Hopefully all the money is there, and these rumors have no basis in fact.
Read what I wrote below on Jan 22.
If the below is true and it was just sent to︍ their business account it confirms my hunch above. It is unlikely anything illegal was done︎ by Qenta. The money was sent to them to do as they wish. Is it️ unethical whats happened well maybe if rumors are true. Hope for the best.
P.S Qenta can easily clear this all up by giving a response to Peter or putting out a statement. Then peoples fears will be calmed. Them not communicating is of concern.
If the below is true and it was just sent to︍ their business account it confirms my hunch above. It is unlikely anything illegal was done︎ by Qenta. The money was sent to them to do as they wish. Is it️ unethical whats happened well maybe if rumors are true. Hope for the best.
P.S Qenta can easily clear this all up by giving a response to Peter or putting out a statement. Then peoples fears will be calmed. Them not communicating is of concern.
Qenta told opt-in customers the following:
"If you want to become a Qenta customer, you have to download the Qenta App and register. If you don't want to become a Qenta customer, don't download the app, don't register."
I'm pretty sure that the majority of︀ opt-in customers have not registered with Qenta, so their funds don't technically belong to Qenta.︁
Those that have downloaded the Qenta App, and have registered, agreed to have their funds︂ converted to Gold.
Anything different than this, would be considered illegal.
"If you want to become a Qenta customer, you have to download the Qenta App and register. If you don't want to become a Qenta customer, don't download the app, don't register."
I'm pretty sure that the majority of︀ opt-in customers have not registered with Qenta, so their funds don't technically belong to Qenta.︁
Those that have downloaded the Qenta App, and have registered, agreed to have their funds︂ converted to Gold.
Anything different than this, would be considered illegal.
FYI Responsible Gold Trading DMCC license expired 3 days ago on Feb 3rd 2025. So two thirds of the parties to the agreement with EPB now defunct. Only Qenta left standing....I hope.
of course its illegal, and the question why PS/EPB did not insist on mechanism to SEGREGATE the funds properly come to my mind.
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