This is the offer Qenta sent to those customers who signed the NDA. The NDA itself was the most onerous one I have ever read. Thankfully, someone violated it and sent me a copy. The terms are so bad that Qenta didn’t want them made public.
One of the biggest frauds is the buyer itself. It is not a real third party, but a straw company set up by Qenta to hide the fact that it was the buyer. The offer itself purports to pay 70 cents on the dollar for customer-owned gold. But that offer is based on the value of the gold in September 2022, not on the value as of the date of the offer. So instead of 70 cents on the dollar, customers would only be getting 30 cents on the dollar, with Qenta keeping the rest for itself. To top off the fraud, Qenta gave customers the “opportunity” to take an even bigger haircut if they accepted “Euro Pacific Bank liquidation tokens” in lieu of cash. Yet Qenta had no authority to issue any such tokens on behalf of the bank, so they would have been completely worthless.
I believe this offer was, in fact, a criminal shakedown of bank customers, who were legally entitled to receive full market value for their assets. The only reason Qenta was in a position to attempt such a shakedown was that the OCIF-appointed receiver refused to support the TRO I had already won and to join my arbitration, which would have forced Qenta to return all of the customers’ owed assets in full to the bank’s estate.
Qenta claimed that either option was designed to provide “clarity and closure.” In reality, the options were designed merely to provide Qenta with a windfall at the expense of customers. I think the offer itself amounts to mail fraud, and everyone involved in making it should be charged criminally.