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Line 39: Schiff began his career as a stockbroker at a [[Shearson#Shearson Lehman Brothers\|Shearson Lehman Brothers]] brokerage in the early 1990s.<ref>[http://www.europac.net/members/peter_schiff Europac.net – Peter Schiff] {{Webarchive\|url=https://web.archive.org/web/20110806105628/http://www.europac.net/members/peter_schiff \|date=August 6, 2011 }}. Retrieved November 3, 2010.</ref> In 1996, Schiff and a partner acquired an inactive [[broker-dealer\|brokerage]] firm and renamed it Euro Pacific Capital, and began operating it from a small office in Los Angeles.<ref name="O'Keefe-2009">{{Cite news\|last=O'Keefe\|first=Brian\|title=Oh, he saw it coming\|newspaper=[[Fortune (magazine)\|Fortune]]\|date=January 23, 2009\|url=https://money.cnn.com/2009/01/20/magazines/fortune/okeefe_schiff.fortune/index.htm\|access-date=April 14, 2010\|archive-url=https://web.archive.org/web/20100413100457/http://money.cnn.com/2009/01/20/magazines/fortune/okeefe_schiff.fortune/index.htm\|archive-date=April 13, 2010\|url-status=live}}</ref> They relocated the firm to [[Darien, Connecticut]], in 2005,<ref>[http://www.tmcnet.com/usubmit/2006/08/06/1774568.htm] {{Webarchive\|url=https://web.archive.org/web/20140201233508/http://www.tmcnet.com/usubmit/2006/08/06/1774568.htm\|date=February 1, 2014}} "Prophet of Doom? Darien market bear says U.S. investors' ship is sinking," article by Julie Fishman-Lapin in ''The Advocate'' of Stamford, Business section, August 6, 2006, pp. F1, F6</ref> and later to [[Westport, Connecticut]], where it is currently headquartered with branch offices across the US in [[Scottsdale, Arizona]]; [[Boca Raton]], Florida; [[Newport Beach]] and [[Manhattan Beach, California]]; and New York City.<ref>{{cite web\|url=http://www.europac.com/about/company_profile#block-views-branch_offices-block_1\|title=Company Profile – Euro Pacific Capital\|date=March 27, 2018\|website=www.europac.com\|access-date=July 21, 2018\|archive-url=https://web.archive.org/web/20180721132542/http://www.europac.com/about/company_profile#block-views-branch_offices-block_1\|archive-date=July 21, 2018\|url-status=live}}</ref> Schiff sold Euro Pacific Capital, which is now called [[Alliance Global Partners]].<ref>{{Cite web \|title=Alliance Global Partners www.allianceg.com \|url=https://www.allianceg.com/ \|access-date=December 7, 2023 \|archive-date=December 7, 2023 \|archive-url=https://web.archive.org/web/20231207180750/https://www.allianceg.com/ \|url-status=live }}</ref> Schiff founded [[Euro Pacific Bank]], a [[full reserve]] banking operation originally in [[Saint Vincent and the Grenadines\|St. Vincent and the Grenadines]].<ref>{{cite web \| title=Peter Schiff's Euro Pacific Bank Introduces a Silver Backed Debit Card – DGC Magazine \| website=DGC Magazine \| date=16 August 2016 \| url=http://dgcmagazine.com/peter-schiffs-euro-pac-bank-introduces-a-silver-backed-debit-card/ \| access-date=2 August 2018 \| archive-url=https://web.archive.org/web/20170212091304/http://dgcmagazine.com/peter-schiffs-euro-pac-bank-introduces-a-silver-backed-debit-card/ \| archive-date=February 12, 2017 \| url-status=live }}</ref> Line 46: On June 30, 2022, the [[Puerto Rico Office of the Commissioner of Financial Institutions]] (OCIF) announced they had suspended the operations of Schiff's Puerto Rico-based Euro Pacific International Bank, which was suspected of having facilitated [[money laundering]] and [[tax evasion]]. The Commissioner stated that it had found numerous violations of its regulations and that the bank had "not wanted to comply". Regulators liquidated the bank, and Schiff paid $300,000 in fines.<ref>{{Cite news\|url=https://apnews.com/article/caribbean-money-laundering-puerto-rico-san-juan-efb421edca78f0d477c665d346658373\|title=Puerto Rico suspends operations of bank amid global probe\|newspaper=AP News\|date=June 30, 2022\|last1=Coto\|first1=Dánica\|access-date=December 22, 2023\|archive-date=December 22, 2023\|archive-url=https://web.archive.org/web/20231222175049/https://apnews.com/article/caribbean-money-laundering-puerto-rico-san-juan-efb421edca78f0d477c665d346658373\|url-status=live}}</ref><ref>{{Cite web \|last1=Nick \|first1=McKenzie \|last2=Charlotte \|first2=Grieve \|last3=Tozer \|first3=Joel \|date=2020-10-18 \|title=Westpac, mint, hundreds of Australians ensnared in global tax evasion probe \|url=https://www.theage.com.au/national/westpac-mint-hundreds-of-australians-ensnared-in-global-tax-evasion-probe-20201015-p565la.html \|access-date=2024-01-03 \|website=The Age \|language=en \|archive-date=December 6, 2023 \|archive-url=https://web.archive.org/web/20231206235440/https://www.theage.com.au/national/westpac-mint-hundreds-of-australians-ensnared-in-global-tax-evasion-probe-20201015-p565la.html \|url-status=live }}</ref><ref name="Robles-2022" /> Schiff claimed that the OCIF actions were due to allegations made by [[~~60_Minutes_~~60 Minutes (~~Australian_TV_program~~Australian TV program)\|''60 Minutes Australia'']] and ''[[The Age]]'' newspaper, saying, "There was no way those allegations were true, but once those stories broke, the bank's business imploded."<ref name="Robles-2022">{{Cite news \|last=Robles \|first=Frances \|date=9 August 2022 \|title=Peter Schiff Has a Deal With Puerto Rico to Liquidate His Euro Pacific Bank, He Says \|language=en-US \|website=[[The New York Times]] \|url=https://www.nytimes.com/2022/08/09/business/euro-pacific-peter-schiff.html \|url-status=live \|archive-url=https://web.archive.org/web/20231229032633/https://www.nytimes.com/2022/08/09/business/euro-pacific-peter-schiff.html \|archive-date=29 December 2023 \|access-date=4 October 2022}}</ref> In 2022 Schiff filed a civil action against the [[Nine Entertainment\|Nine Network]] and ''The Age'' newspaper for [[defamation]] over the ''60 Minutes Australia'' interview and subsequent ''Age'' articles.<ref name="Goldstein-2023">{{Cite web \|last=Goldstein \|first=Matthew \|date=1 December 2023 \|title=Australian Media Company to Pay Peter Schiff to End Defamation Suit \|url=https://www.nytimes.com/2023/12/01/business/peter-schiff-defamation-settlement-nine.html \|url-status=live \|archive-url=https://web.archive.org/web/20231208120430/https://www.nytimes.com/2023/12/01/business/peter-schiff-defamation-settlement-nine.html \|archive-date=8 December 2023 \|access-date=8 December 2023 \|website=[[The New York Times]]}}</ref> Later in 2022, an Australian judge ruled that ''60 Minutes'' had defamed Schiff but ''The Age'' had not.<ref name="Goldstein-2023" /> By December 2023, the civil action was settled.<ref name="Goldstein-2023" /> Schiff was paid $360,000, and the respondents removed all versions of the ''60 Minutes'' broadcast.<ref name="Goldstein-2023" /> Schiff has stated that he lost millions of dollars due to the investigation.<ref name="Goldstein-2023" />

Peter Schiff: Difference between revisions