Topic: [CRYPTOSTOCKS] Labcoin Official Thread - Self-Moderated - page 16. (Read 96854 times)

The real question is: was he involved with the IPO? Its no crime contracting theseven or others to work on a chip nor to ask RFQ to a fab to see if its feasible. As pretty much everyone seems to agree on, this almost certainly started as a legitimate experiment. Its only when they collected 7000 BTC on a pack of lies and subsequently decided to run with it that it became criminal. Was Fabr involved in any of that? Remains to be seen, but Ive seen no evidence. AFAIK Theseven was contracted post IPO and my guess is Fabr didnt do a thing related to it after starting work at zopo. All involvement Ive seen even predates the "labcoin" name.

As for his sister, thats another matter. It could have been Alberto posing as her, I simply do not know. I dont even know if there were still together at that time or even now.

Bill gates hasn't signed a contract for labcoin. Bill gates does not have a sister whose personal account is used in recruiting theSeven and Howard. Bill gates hasn't meet Howard face to face. These may not prove he was the main person, but are enough to prove he was definitely involved.

Bill gates hasn't signed a contract for labcoin. Bill gates does not have a sister whose personal account is used in recruiting theSeven and Howard. Bill gates hasn't meet Howard face to face.

The very first post of user labcoin, dated May uses the "Samuel Noi" alias:
https://bitcointalksearch.org/topic/m.2195210

As for the chatlog, it was probably from well before the IPO, when the venture was most likely still legit. Moreover whoever was claiming to be Fabr on IRC may not have been Fabr. Isnt that the same chatlog where "sam"/alberto claimed to use allesi's handle or something? Either way, someone using Fabr's name on IRC (if even that gets confirmed) from before the IPO time, by a scam artist that has been hiding behind the same ID ever since is hardly compelling evidence.

As the saying goes, follow the money. "sam" (ie Alberto) is the one who received it. If he cut in Fabr or others then they will have to answer for that, not for their names being abused on sheet full of lies. If anything at this point TheSwede is far more demonstrably complicit than Fabr and he does have legal liability (providing material support to public selling of unregistered securities is a crime and makes him as liable as Alberto) - regardless of how much or how little he knew.

In other words, fronting the scam & covering up for his brother-in-law (if that is all that he did) makes him innocent in your eyes?
Is my TL;DR pretty much correct?

in old thread, as i remember

there is chatlog posted where fabrizio say he run mutliple projects (including labcoin) ,

the shareholder question was like asking update/news/info about labcoin and fabrizio replied like as in he is not involved in its operation 100% and that he manages other projects, so he didnt know much what was labcoin doing, quite lame, but he manages it, as the statement above proofs it.

maybe sam noi was mentioned, cant remember, some one can find the chatlog post?

Most likely because it was actually true that Fabrizio contacted a fab and talked to Howard Wang, but never pursued the opportunity because it wasnt one. This would have happened well before labcoin, the IPO and before ALberto got involved. Alberto exploited that to give a veneer of credibility to his scam. As for scammers having morals.. lol.


See above. As for leading right back to alberto, this was so 'obvious' no one found out for many months.


Because he got an actual job and an actual life? Most of what I found of fabr online is when he arrived in shenzhen and was looking to make local friends there. Not that weird. He's been there for a while now. As for staying low now, I know I would.


Its not the first thing I would do if I found out my brother in law, and possibly sister where involved running a large scale scam that involves my name. Especially not in China. Would you? Besides, he would have known Alberto took over the "business", may not even have objected to that being described in the "company history",  but that doesnt mean he was still involved or had anything to do with it since the IPO.


AFAIK, "Sam Noi" alias has been around for as long as labcoin as "nominee director" for labcoin. And whats more, you seem to agree with me that this probably started as a legitimate even if naive attempt. The key issue is when the money was raised and by who. I see no reason to believe Fabr still had anything to do with it at that point, I strongly suspect that was Alberto and Alberto alone (perhaps with Alessi) posing as "Sam Noi". If fabr had still been involved, do you really think he would let his real name, linkedin profile etc be published while letting Alberto use an alias?

your synopsis completely defies logic...

ask yourself these simple questions...

why would Alberto deliberately implicate his own brother in law in a scam knowing that any fallout would lead right back to him... why not choose the Alias Sam Noi from the beginning?
why would Alberto use Itech Pro a company registered under Fabrizio Tatti as the front for such an operation (again this would lead right back to Alberto)
why would Fabrizio be completely silent from the internet since 2012 if he had nothing to hide ie why Keep a low profile now? (surely he would just be going about his normal daily business online)
why would Fabrizio not go straight to the authorities as soon as he discovered that his name was being used Fraudulently?


I will give you a more Logical Synopsis.

Alberto the mastermind behind Enso and previous bitcoin scams coopted his girlfriends/wife's brother into another one of his money making schemes.
Blinded by visions of mountains of gold Fabrizio decided to use his own name and relatively untarnished reputation to launch a Bitcoin Mining company.
Both of them, being located in Shenzen and convinced that it would be easy to outsource chip design to the mountains of cheap Chinese designers, set about looking for someone to design what they thought would be a reasonably straight forward Sha265 hashing chip.
Howard Wang an engineering (chip design) student sees an advertisement placed on a website looking for chip designers and decided to apply for the job.
Howard is told he will be paid in this funky new crypto currency called Bitcoin for his work.. and so he Liaises online with someone (either Alberto or Fabrizio) posing as Alesia Tatti..
After a few months of miscomunication and poor management Howard gets cold feet and leaves the company.
He is paid 10BTC for his efforts.

After Howard leaves it becomes apparent that there is no Chip all parties involved begin to panic...

Fearing the legal ramifications... Ethan Burnside (who together with TheSwede75 launched the IPO) decides to wind up his trading company BTCTC.
Fabrizio and Alberto begin to panic knowing full well that their so called easy chip design failed. instead of informing the investor community of their failure and paying back the remaining money.. they hatch a plan to rescue the company by pretending to hand the company over to Sam Noi, relisting Labcoin on another exchange and purchasing Hashing power off the shelf. All the while secretly moving the leftover  3500 BTC over to S.Dice so it can be mixed and therefore untraceable.


Initially the plan works... the new Alias controling the venture (Sam Noi) sets up purchased Off the Shelf hashing power in their office and creates an account on Elguis and then Ghas.io to prove that the company is indeed Mining....

Prety soon more and more investors become to get suspicious of whats happening and begin to dig a little deeper... at first Sam (i.e alberto or Fabrizio), tries to maintain the veneer of legitimacy by deleting the accusations as they are posted... later, faced with an overwhelming investor backlash, Sam decides to go silent and make plans for his escape.

at the moment we do not know if Alberto and Fabrizio are still in Shenzen but you can bet they have already long made plans for their escape. Will they try to maintain the charade by putting up more hashing powe?r... Maybe... will they flee china?.. Probably. will they give investors their money back? Possibly if they get caught and threatened with 10 years in a Chinese prison by the authorities HongKong.. If they get caught in china the funds might be seized as evidence and never returned.


IMO
it is no longer a question of whether Fabrizio is involved .. its more a question of whether he is willing to make a run for it and risk becoming an international fugitive and risk being jailed for many many years OR whether his conscience gets the better of him and he decides to own up to the farse and return the remaining BTC to shareholders.

I hope for his sake that he just admits he is a complete failure of a business man and gives the people back their money.. even 3500 BTC returned to shareholders would be worth more in FIAT currency at today's Exchange rates than the initial 7000 BTC.


Anyone who thinks they will get ALL of their money back is living in a fantasy land.. you all knew the risks when you started investing in BTC... and if you didn't.. you sure do now... take it as a lesson well learnt and lets hope Sammy comes clean and gives you some compensation for your troubles before the Lawyers and Authorities get their cut of the pie.

Just my 2c

hmm contract says labcoin is founded by itec pro, and fab did sign contract for asic, so he is directly and indirectly involved,

if he sold, then he would have came here to clear out his company name from labcoin, which makes no sense to me.
but sam name is still there in old contract along with fab and others, the new contract shows sam only in crypto, yet still makes no sense.

either way we have to not let fab alone, i have doubts now about swede, playing victim card, if you guys met  swede face to face or skype, then im ok.

Labcoins depressing.. 

Im pretty sure fabr indeed knows who his brother in law is. And Im sure he will be questioned (and should be), but lets not nail him to a cross just yet, when its entirely plausible, even more likely, his name was simply abused.

I see the point you trying to make and maybe you are right but fabr needs more than his words to prove he is not involved in this scam . Also I believe fabr knows who is behind this scam( maybe maybe fabr truly didn't know what he was signing up to) if is not himself.  

Did Bill Gates meet with the lead engineer for Labcoin in order to sign Labcoin business documents under the Microsoft name?

Fabrizio has been involved in this venture. He has been identified by an eyewitness as having been involved. He has admitted to being involved, on more than one occasion.

It will be up to authorities to determine the extent of his involvement.

Why is that exactly? Since when does the burden of proof lie with a defendant?
The only contract fabr may have signed is one between his company and a fab. He is bound to that contract, but I have no reason to believe he violated that NDA.

AFAICS, he has made no contract with you or other investors, has no obligation or (legal) liability whatsoever. Alberto could have put Bill Gates name as CEO of the company and called the company "Labcoin Inc / Microsoft" in his prospectus, link to Microsoft.com, BIll Gates Linkedin profile  and publish a sales contract with MS (for the purchase of a Surface tablet) and you think that somehow makes Gates liable or burdened to prove anything?

Sam will take your vote into careful consideration. 

^ lol

I vote refund

fuck a refund, I want to see whoever involved BURN... crucify this pick and his family... sorry but that's the way I feel

Possible misrepresentation in the prospectus-


"the company has already invested $100.000+ in development and preparations for a first run of chip production of 130 nm chips"

Given what we've heard from Howard and TheSeven, this seems very unlikely to be true. Documentation for this $100k in development needs to be provided.



" Labcoin does however bind itself to NOT significantly change the direction of the company without share holder input. "

Would this also include selling the company to an unknown third party without consulting the shareholders?


Also note that the Prospectus as listed on CryptoStocks still lists:

Company registration: http://www.linkedin.com/company/itec-pro-limited


Surely Fabrizio will take action to have this corrected as soon as possible?

I said this a long time ago and no one listened.

Everyone involved in the scam will cry and shout they were scammed/used/underpaid/etc...

I forget who, but remember that jerk complaining he only got paid 10 btc? And everyone soaked it up, what about theswede that plays a sob story about how he is still invested.

Theswede has a lot of bitcoin from other investments and is an early adopter, theswede also used his "reputation" and marketing speak to get people to fork over 7,000 bitcoin. I think theswede should pay out all of his bitcoin to the shareholders, even if he can only cover 10%. it is something.

Look how stupid everyone here looks, you have all these people to target and you let them funnel you into looking for one single person.

Everyone involved in Labcoin is involved in the scam, and they are "sob story"ing their way out of handing over cash. They must go bankrupt giving everything they own back to shareholders. Some of these scammers own business, that business must now be liquefied to pay back Labcoin shareholder debts. Theswede must now get out his cold wallets and pay back, even if he has not made anything from Labcoin he enabled the scam.

I am no longer invested but I get frustrated reading how yet again another scammer has told you to look down another dark alleyway.

Remember: Everyone involved is going to cry and shout and misdirect.

I doubt anyone here will actually pull through and theswede and the rest are going to get away with it. No way the scammers are going to pay. Scammers to smart obviously. Now Labcoin shareholders, prove me wrong!