After Euro Pacific Bank was placed into receivership, the bank entered into an agreement under which Qenta would take over the accounts of customers who chose not to have their deposits returned, which would have required their non-cash assets to be liquidated. Customers were given 30 days to opt out of having their accounts and related assets transferred to Qenta.
Over the ensuing three years, Qenta failed to onboard even a single Euro Pacific Bank customer. Then, after all that time, Qenta abruptly terminated the deal after I began asking questions about the status and whereabouts of customer funds, and Qenta’s financial position. But instead of promptly returning the assets that had been transferred into its custody for the benefit of Opt-in customers, Qenta, through its CEO Brent De Jong, offered to return only the value of the assets as of September 2022. That would have allowed Qenta to keep for itself all of the appreciation in the gold, silver, and mutual funds during the intervening years. Qenta also demanded an additional $5 million in damages for its claimed costs of trying to close the transaction, all of which would have come directly out of bank customers’ pockets.
At the time, Brent’s position would have netted Qenta an estimated windfall of roughly $30 million at the direct expense of the very customers whose assets it agreed to safeguard. With the continued rise in precious metals prices, that figure is now closer to $50 million. Yet as of March 2026, more than eight months after Qenta terminated the transaction, it still has not returned one penny to the Bank or its customers.
Brent De Jong is unlawfully retaining assets that belong to the Bank and its customers. Furthermore, he has yet to provide a full accounting showing where those assets are, whether they remain intact, or how they have been handled while in Qenta’s custody. That failure raises serious questions about whether Brent improperly diverted customer and Bank assets to fund Qenta’s operations or for other purposes.
Though Brent De Jong was not part of the conspiracy to frame and destroy the Bank, he later exploited Qenta’s custody of the Bank’s assets, together with the incompetence of OCIF and the Receiver, to attempt to extract tens of millions of dollars from the Bank’s and what were intended to become his own customers.
Qenta’s own website no longer functions, and the two subsidiaries that were part of the Purchase and Assumption Agreement are now defunct. Brent set up a new company called Qecosystem, and he still promotes G-coin and Responsible Gold. Based on what happened with the bank, I would strongly advise anyone against entrusting assets to Qenta, Qecosystem, or to any business entity affiliated with Brent De Jong.
In sworn testimony in his divorce proceeding, Brent De Jong testified that Qenta did not receive any gold from the bank, despite the bank transferring more than 12,000 ounces of gold to his custody in Switzerland. Instead, he claimed Qenta received only $45 million in cash. If true, that means De Jong sold the gold without authorization from the bank or from the customers who owned it.
Customers agreed to transfer their gold to Qenta based on De Jong’s representation that Qenta would hold and store their gold until they chose to sell it. Instead, according to his own testimony, De Jong converted the gold into cash and used the proceeds to fund Qenta’s operating expenses, make illiquid investments for Qenta subsidiaries, and purchase gold for Qenta’s own account. The customers whose gold was transferred to Qenta received none of the upside from that gold investment.
In my view, this was not a legitimate custody arrangement. It was the unauthorized conversion of bank and customer property to finance Qenta’s business and benefit Qenta and its affiliates, without the customers’ knowledge or consent. Thus far, the OCIF-appointed receiver has refused to pursue the proper legal claims in the proper forum to recover the bank’s and customers’ assets from Qenta and Brent De Jong personally, to the extent any of those assets were diverted to him.
