Topic: Diablo Mining Company - page 29. (Read 96370 times)

Nefario has just announced that he has misappropriated almost 1600 BTC in assets from Diablo Mining Company claiming that shareholders have said I have violated my contract with all of you. The good news is, he cannot remove me as founder of Diablo Mining Company, nor misappropriate assets or sources of income not held at GLBSE.

I officially request Nefario unlock the Diablo Mining Company account and also return any misappropriated assets. Nefario does not represent Diablo Mining company nor any shareholders of Diablo Mining Company. Diablo Mining Company has hired GLBSE to act as an exchange and broker for Diablo Mining Company shareholders.

Diablo Mining Company currently holds on GLBSE:
54 BTC-MINING, currently valued 53.78 BTC
951 BTCMC, currently valued 561.08 BTC
9290 OBSI.ABMO, currently valued 929.00 BTC

From this 1543.86 BTC in assets. BTCMC pays approximately 15 BTC a month, ABMO pays a little over 10 BTC a week, BTC-MINING pays a half a BTC a week. I expect any dividends issued by assets held by Diablo Mining Company to also be returned.

Diablo Mining Company has been in negotiations with CPA to insure shareholder assets both on and off GLBSE and with Nyan for continued asset management for the assets on GLBSE. As part of these negotiations, I have agreed to reverse the motion on the cessation of dividends for three months and pay the dividends for August 2012. Nefario's actions have delayed these negotiations.

As of this time, I cannot login into Diablo Mining Company's GLBSE account. Even if I could, I cannot verify who owns shares of this company or how many they hold, Nefario refuses to release this information to me. Until Nefario releases this repeatedly requested information, I cannot pay dividends to shareholders. Dividends generated from non-GLBSE assets and sales will be held until Diablo Mining Company can reliably transfer them to shareholders.

I have worked hard to make sure this company succeeds in our mission. Diablo Mining Company, since it's inception, has had a three part plan: profit from Bitcoin mining, focus on the high density computing and data warehousing market through building our own data center, and invest heavily in renewable green energy to offset our own usage and also sell it back to the grid.

In this, I would like to make an announcement, and I wish I could make this announcement under better circumstances: Diablo Mining Company shall soon be offering dedicated server and cloud hosting, beginning our work on the second part of our plan. Although the data center part of the plan was originally written to be "bottom up" instead of "top down" to enter the market, this shall put us closer to our goal.

I promise that I will do everything possible to force Nefario to return the assets, but in the event that this does not happen, Diablo Mining Company will continue moving forwards. I know I have the support of the community and my shareholders on this, and I'd like to thank you all for that.

Edit: And yes, I am giving Nefario a chance to fix this. He made a mistake, and unlike some people, I am giving him a chance. If he does not return the assets, I will be requesting that theymos add a scammer tag to all of his forum accounts. I am not making this request for a few days as to give Nefario ample chance to apologize to DMC shareholders.

Since when?
Can you point me to monthly statement that lists those assets?

I think its hard to find other accounts of him as long as he did precautions while accessing different accounts. Cookies, ip and so on. I dont have an idea how this can be handled. Maybe someone other has a flash of inspiration.

@ianbakewell

A list of swaps probably wont help. Swaps can be legitimate buys. And on the other hand he could have sold shares, then withdrawn btc and load it into a fresh account at glbse. Sending money from another address. Then buy the shares. No trace behind when done properly. So its hard.

This was PM'd to me.


Diablo's personal account is frozen, so he himself won't be able to vote using those shares, however you have a good point, one of the reasons there is going to be a week before the vote is to a) allow people to discuss it fully and for diablo to make his case b) allow time for me to investigate.

Suggestions on how to handle this issue are welcome.

So he has other accounts at glbse where he holds the assets? I think its possible that you, nefario, cant find these accounts. Regarding the motion... i see the possibility that diablo itself is holding enough bonds so that he can change the motion to what he want. I mean when he have different other accounts at glbse he still can vote.

Whatever...

I don't think he deserves the scammer tag, he's likely just incompetent.

This has actually been coming for several weeks, as in shareholders have been complaining for weeks, and I had hoped that he would turn things around.

Here is what Diablo has said to me on IRC regarding the physical assets of DMC

I would only recommend a scammer tag if he failed to return DMC assets which he holds (physical ones) to DMC and it's shareholders.

BTW, I personally have not filed any complaints with nefario nor GLBSE.
I guess someone else realized that this circus has to be stopped.

Who ever you are. Thank you.

By the way... i wonder what with all these pirate pass through bonds should happen. I mean its pretty clear now that no dividend will flow and the securities are dead. I wonder if it makes sense to hold them in the list or if they will only work as newbietraps.

Regarding the number of shares of dmc that are floating around... here you can see the number: https://glbse.com/api/quantity_trading/DMC

Shareholders might also want to take a look at this: https://glbse.com/vote/view/104

That's the motion to discontinue paying dividends. Pay special attention to the date of the vote, the date when 15000 additional shares suddenly started to exist and the amount of votes for each option. Draw your own conclusions.

If you think he deserves a scammer tag, make a thread in Scammer Accusations, lay out all the relevant information neatly and describe how he defrauded people assuming the readers know nothing about this. Would be good to show that he did it knowingly or that he was told/warned of the consequences. Whether he's a mod or not doesn't matter.

I haven't been keeping up with this thread so I don't have an opinion yet.

Looks like glbse has some kind of SCE...

I think its an interesting development. I bought diablos shares and i trusted him because of his contributions of free software. But i learned that means nothing for the financial capability. And he made errors after errors. The worst thing is that he sold shares for less than the ipo even though he was told that this is a clear rip off of the bondholders. Thats not correct then anymore and i can understand this step now.

Im lucky i got out without losing much. So now i took a look at the value of this because he owned 2080ASICMINER and my thought was that i maybe can buy cheap asicminer by buying dmc... but unfortunately the whole asset of dmc is even worth less than the actual shareprice. So here... you can save the time to calculate for yourself:


So i think the actual shareprice of dmc is nearly showing the actual value of a share.

Interested to see how this moves on.

Due to a considerable number of complaints by shareholders for contract violations and  gross incompetence I am proposing the removal of Diablo-D3 from the running of DMC.

His account has been frozen until such time as this issue is resolved.

I will run a motion and shareholders will determine whether to continue with Diablo-D3 running the asset.

If they are happy for him to continue running (and the motion doesn't carry),his account will be unlocked and he can continue as before.

If not DMC will be removed and a new operator will be found, failing to find an operator will result in DMC's assets being liquidated, Diablo's personal account will then be unlocked.

Nefario.

As of now, I am 100% sure that Diablo is so incompetent that he can not even understand how he has fucked up. (or he has serious psychological issues)
 
1) You obviously have no idea wtf is going on with the DMC portfolio (investors money).
2) you are not competent enough to compile a simple monthly statement and you are way too stupid to ask for help
3) See 1 and 2 - you probably do not use any software to track the portfolio and trades or you have no idea how to use it.
4) You keep avoiding questions and you keep ling to your investors
5) Your miscalculated swaps have lost large amount of investors coin.
6) ....

Please feel fee to add more fuck ups.

 

This is why no one takes you seriously. Why would I steal 50 BTC from DMC when I could legitimately make tens of thousands of BTC a year as my normal salary once DMC is generating enough to afford me as an employee? You make no sense.

So diablo keeps trading his unsold shares at market rate (or apparently, even far below). His supply is almost infinite, like his ability to make unbelievably stupid deals and thus evaporating share (holder) value.  Essentially what that boils down to is robbing early investors (who see their investment go up in smoke as share price crashes) to pay newer ones with ever cheaper shares. Over and over.
 "Robbing Peter to Pay Paul". Its not so very different from a ponzi.

I do wonder if those 50BTC plus whatever he got for the other 10+K shares ended up in his own pockets or if he (mal)invested them in something for DMC. Since he refuses to disclose any information on his swap deals,  I guess its up to everyone to guess if he is scamming or just incredibly incompetent. Or maybe both; after all, its  "only" 50BTC though, so I guess if he is scamming, he is even incompetent at that.

Either way, best of luck to everyone still owning shares in DMC. And remember, only trolls want to see NAV statements and accountability.

from OP


I'm never happy to see people lose money, but come the fuck on. This shit was worse than pirate. Anyone that "invested" in this is a moron.

He was trading 1 ASICMINER for 9 DMC when the price crashed on DMC. Which made the outstanding shares go from ~2000 to over 20000.

Pretty much 0.01111111 per share.

http://dmc.adterrasperaspera.com/trade/

^^^ Watch that trading chart, rates keep changing.

Who did he give them too and why arent they earning dividends and/or where is 20,000 btc?

Why is he selling his shares for .015 under the table and not reporting it  ?

I told you this would happen months ago https://bitcointalksearch.org/topic/m.985621

Well, thats up for debate I guess, but for sure all other shareholders where screwed over scandalously. Its safe to assume now the other 15000 or whatever missing shares where given away similarly "under the table". No wonder Diablo didnt want to answer our questions.