Euro Pacific bank is a scam
- Thread starter sonato
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maybe PS can answer this question. He is at least accountable to be fully transparent vis-a-vis his former clients
Just look at this shitty situation we're in. Theoretically we have some money. There's some guy who turned out to be a leech and has no interest in ending it. Somehow, I have no idea how, he's doing well. There is no law. No party able to speed it up and/or take it from lazy guy and give to someone able to show the end. It all seems like a scam, but no one cares. There's no even a simple try to calm down the rumors. After a few years passed and we don't know who's sitting on our money or where it is. No︀ information. No plan. No deadline. Empty promises that eventually died too. Could it get any︁ worse? The Quenta speculations will turn out to be real and we're all screwed. I︂ was sure it would be like this. A simple game of ping-pong. The whole story︃ from the beginning looked like a bigger plan to me.
Why does Lugo want to change the plan two and a half years after it was adopted?
Is Lugo saying that everyone︀ will become an opt out?
Is Lugo saying that everyone︀ will become an opt out?
Regarding customers, accounts and obligations transferred pursuant the Assets Purchase Agreement subscribed in September 2022, the management of these assets and obligations remain with the acquiring entity. Claims and inquiries should be remitted to their Customer Services team at [email protected].
From the latest Report we can see that there's a lot... a LOT of buarocracy going on between OCIF, the Receiver, and Qenta.. and we are caught up in the middle of it.
This Opt-in and Opt-out situation was a terrible idea.
Dividing customers in two groups is delaying this process massively.
The only one that is benefiting from this is the Receiver.
Also, there isn't much of a change between Q3 and Q4 of 2024. The Receiver is working extremely slowly.
Anyway, for those customers that opted-in but would like to Opt-out, this is what Qenta told us back in the day.
This Opt-in and Opt-out situation was a terrible idea.
Dividing customers in two groups is delaying this process massively.
The only one that is benefiting from this is the Receiver.
Also, there isn't much of a change between Q3 and Q4 of 2024. The Receiver is working extremely slowly.
Anyway, for those customers that opted-in but would like to Opt-out, this is what Qenta told us back in the day.
It was not a bad idea at the time.︀ I expected all the opt-out money to be send to clients with 30 days of︁ signing the deal. That is what the agreement with OCIF required. So that would have︂ been in the fall of 2022. The Opt in was for customers who had no︃ other accounts they wanted to transfer to, So going to Qenta allowed them more than︄ 30 days to make other arrangement. My goal was to get the entire bank shut︅ down in under 90 days. There would have been two to three million cash left︆ over for me.
I had my team review the financials. I spoke to several people familiar with the company, including their banker. They had a plan to go public, which ended up falling through over a year after we did the deal. I spoke extensively with the CEO, who also came out to Puerto Rico twice. Once to meet me and discuss Qenta and the deal, and a second time to meet the OCIF Commissioner to get her approval of the deal, which she︀ gave. I liked Brent a lot and we shared a common vision on gold. He︁ also had a lot of experience in the past dealing with banks, and I though︂ owning mine would be very beneficial to his objectives at Qenta. Remember $12.5 million of︃ the purchase price of the bank was paid in Qetna stock. The rest was about︄ $3 million in cash and $2 million in gold. So I had to have some︅ confidence in the value of the stock. But depositors would have been much better off︆ with Qenta owning the bank. They were required to add $8 million in capital. Plus︇ with a name change and new management, the bank losses would have been replaced with︈ profits, and customers would have been offered vastly improved services.
@PS yes at that time also OCIF investigated Qenta and approved.
What we need to know is what is the current status of our funds / status of Qenta.
What we need to know is what is the current status of our funds / status of Qenta.
and your high-profile team did not wonder that Qenta was licenced NOWHERE on the planet?
I seriously doubt audited financials exist
I seriously doubt audited financials exist
I wonder, why you almost beg Mr. Schiff for answers? His bank was in severe trouble in 2021 due to lack of capital. That is what can be extracted from his own plaint. but is presented in an almost hidden way there. As it was a 100% reserve business concept it weren´t the customers who were the problem. It was EPB itself! OCIF pointed on︀ this. Mr. Schiff then did almost everything to get rid of EPB. And found Qenta,︁ which was the former Wirecard! Hard to believe that Mr. Schiff did not know what︂ Wirecard was? The biggest fraud scandal Germany has ever seen! Then comes the OCIF, led︃ by the OCIF commisioner, Ms. Zequeira, and approves the partnership between EPB and Qenta, presented︄ by Mr. Schiff. Also obviously not doing intense background checks. While the customers of EPB︅ are presented a Qenta with a headquarter in Houston, TX. A lie! Actually Qenta is︆ registered in Frankfurt, Germany as a GmbH (see above). And Mr, Brent de Jong is︇ just the CEO, while the owner is Mr. Kerim Chouaibi, who is behind Aurin Investment︈ group. So first and foremost we have Mr. Schiff as the one who steered his︉ own bank in muddy waters, then eagerly wanted to sell it at any cost, which︊ ended up in the worst option he could find, Qenta / Wirecard! And now Mr.︋ Schiff has the audacity to play the victim in all of this? Speaking of ethics︌ and moral! Words are cheap! While at the same end doing absolutley nothing for his︍ former customers! Despicable! A class action lawsuit we should file! To me it is more︎ than evident, who is responsible for all of that and who neglected their duties!
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