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60 Minutes Australia first made public the false allegations of money laundering and tax evasion that ultimately doomed the bank in an Oct. 2020 broadcast that an Australian court has already ruled defamatory of Peter Schiff. In its defense 60 Minutes claimed its defamatory imputations were true. This press conference in and of itself proves they are false. The press conference also proves that the IRS lead J5 investigation, the largest tax evasion and money laundering investigation in world history, was a complete waste of taxpayer money. All it accomplished, thanks to the IRS having illegally and prematurely leaked the investigation to 60 Minutes,, was the unfortunate destruction of an innocent bank and the reputations of those running it.

Here is the press conference that announced the closing of Euro Pacific Bank.

You will notice that IRS agent Lee admitted that as a result of their two year investigation, no criminal charges were filed against “the bank or those running the bank”.

Yet he still implied the bank was guilty of crimes his own investigation confirmed the bank did not commit.

The OCIF Commissioner responded to a reporter’s question about whether the bank helped its customers launder money or evade takes by saying, “that is a conclusion that has not been made”

and that the action against the bank “was not based on claims of money laundering or any financial crimes.”

The OCIF Commissioner also said the bank was being closed in part due to its alleged “level of insolvency.”

However, the receiver OCIF appointed to liquidate the bank later confirmed
that on the date the bank was placed into receivership it had millions in cash and cash equivalents in excess of what was owed to depositors.

The bank also had no debt, made no loans, and had no past-due bills.

So the bank was definitely not insolvent.

There was also a highly-qualified buyer committed to adding $7 million in additional capital that represented an alternative to liquidation.

All of the press coverage that followed this press conference read that Euro Pacific Bank was closed due to allegations that it facilitated money laundering and tax evasion, even though the lack of indictments and the OCIF Commissioner’s exculpatory comments evidenced that the bank did not help its customers launder money or evade taxes.

On Sept 27th, less than three months following this press conference, Mark David Anderson, the bank’s president and co-founder, died of a heart attack at the age of 64.

His underlying heart conditions likely resulted from the stress brought on by the collapse of the bank due to false allegations of tax evasion and money laundering.

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