Topic: FPGAMINING scam ongoing (Read 5566 times)

More like the "I could be rich by now why did I ever bother with "investing" -damnit" issue? Yeah, I quite remember. Well, lesson learned.

Anyone had any luck contacting through other avenues?

[email protected]

http://lendle.me/users/17105/

http://www.ebay.com/usr/bandbinternetsales

http://www.xboxlivescore.com/profile/moparguy528

http://www.zillow.com/profile/moparguy528/

https://www.tanga.com/users/48457/moparguy528/profile

http://www.resellerratings.com/user/moparguy528

Yes, I do 

I have written it off as "learning expenses"

Anyone remember the FPGAMINING issue?

oh man I just found this thread I think half my portfolio was in FPGAMINING

Hello vrtrasura and thanks for giving me an opportunity to clarify what is going on with FPGAMINING.

I have been in contact with the FPGAMINING guy (I know his name, anyway, from his e-mail) and I had offered to buy all his hardware from him and take over the company. But I didn't get a response to that and being honest I just don't have time to worry about FPGAMINING, I have less than 10 days to wrap up the assets I *do* have access to. So there's nothing I can do short of paying him a visit, which I can't do since I don't live in America anyways.

So what to do with FPGAMINING. I have been placed in the unfortunate position of getting kicked off bitfunder due to a misunderstanding and not allowed to list on BTC-TC without severe restrictions (trading is frozen and forced de-listing on Feb 1st, 2013). As a result I can not give full value to my shareholders. I am currently in a mad rush to complete my fiduciary duty and liquidate the company before we get delisted at the end of the month. This makes me very sad because we have hundreds of BTC worth of securities which we haven't been able to sell. Not to mention securities like FPGAMINING which have clear value, but would just take some time and phonecalls to unravel. Unfortunately, I need to liquidate in the next week so there's no time or reason for me to track him down anymore. So in my case FPGAMINING is going to be a casualty of war. It will be auctioned off for less than 1 cent on the dollar. I mean hey, anyone wanna pay more? You're welcome to bid in the auction forum. That's the only way to establish market value since I am not allowed to trade.

To help soften the blow, I will be donating my entire personal stake in all my companies back to the shareholders. I will also soon be offering an exchange program for the remaining securities. It's either that or liquidate at 1 cent on the dollar and no one wants that. No one sane anyway.

The only way I would be willing to invest time and energy into tracking down FPGAMINING is if I was still running BMF. But as it stands there's no reason for me to do that, I can't keep running the company. It would take community support to change that. I need two votes more, to list BMF. That's it.

The truth is, it would be better for my shareholders (and FPGAMINING shareholders too, FWIW) if I could relist BMF. But even so, we're going to be getting more out of FPGAMINING than anyone else. It will be sold off for about a penny on the dollar.

Usagi did you end up giving up on this?

This guy is long gone. Possibly Nefario has some real information on him and his verification wasn't based on false credentials, but even if Nefario does he's hardly going out of his way to help the bitcoin community these days.

During the investigation, LIMITED contact details should be posted, so that we can contact him and confirm what is going on. This will help a lot of people, including me, when it comes time to disperse BMF's 600+ shares of FPGAMINING. I have a claim on it which is worth over $3,000 US even at his reduced prices, and that's a shitload of money. I am not abandoning that claim and I am going to go after him big time, when the time comes. That time isn't here yet but I know a lot of people are in the same boat as I am. So let's pool our resources, find out WTF is going on, and THEN figure out what we are going to do (probably sue, since I think we know who he is).

This is the only issuer that has got the list (that I had shares in) that didn't even post a statement or anything since then. So yes, I think it's time to reopen the thread.

But what will giving someone a scammer tag, when he has probably abandoned the forum, do?

According to:
http://blog.glbse.com/issers-who-have-been-given-lists-so-far

FPGAMINING has gotten a list of asset holders.  Can we start this thread back up?

Exactly this.

I think it would end up at the bottom of nefairo's never ending list. We might have had a slight chance while GLBSE was up and running but now I think it's just pointless.

I suggested this in the securities thread, and this will be difficult to do now that glbse is down, but moparguy was verified. Not sure if this has been suggested, but it may be possible to get his information from nefario and directly talk to moparguy.  That was the whole point of verification, so that the share holders knew who they were buying shares from.

Puppet, here too? Please, this is not the point! That was discussed many times, and the number of shares he holds is public anyway. I am starting to have enough myself of this manhunt.

Anyway



+1

he's probably doing the same as Obsi:
1) offer great returns for some time
2) stall for some time so that investors panic
3) buy at 50-10% of IPO
4) maybe pay back the few that stayed (maybe not)
5) enjoy scammy profit -with investors even glad they weren't ripped completely, but only 80%! Doesn't this sound like paradise?

I for one am not ok with this, and think it deserves some action to be taken against. 

So you bought over 300 shares now after he stopped dividend payments.
Thanks for confirming my earlier point.

Usagi, does this mean in general it's ok to stop paying dividends to cause a price crash so one can buyback cheap? 

Seems like bs to me.  What happened to all of our funds?  I don't want a buy back at no value compared to the investment we put in.  If he decided to close up shop he because he didn't feel like continuing should, he should return the funds or as much of them as possible.  I bought into this fund because it was verified, and there is text about upgrading to ASIC's, turns ou that was a bad choice but I certainly didn't think he would just quit paying divs.  If he took all the investor money and bought FPGAs great I understand there's nothing to return to us, but it's just wrong to turn around and steal it from us by buying back after forcing a crash.  He probably still has the FPGAs mining away while we sit here wondering if we lost all our money on this.

With no communication it's coming off like stall tactics :/.

The asset issuer trades something of value (the shares) for something of no value (money locked somewhere). This isn't how these things work.

It would not be a pain in the ass if -in case of breach of the contract- the asset get forcibly liquidated using the fund to indemnify (partially) the investors. It could be seen like an insurance, and it may make sense if the asset issuer contribute significantly to it (in advance, not just with the funds raised from investors).

edit: honest asset issuers would be motivated to fund even a 100% insurance fund, since that money remains their -even if locked for a period- until they behave honestly.