Topic: MPEx owner in danger of being extradited to US to face charges - page 2. (Read 14088 times)

So a Canadian sorry, Panamanian exchange that claims to be registered but really isn't, selling shares in itself at hyper-inflated IPO prices, giving revenue projections an order of magnitude higher, and said share price, predictably, plummeting after financial statement cheesy but nevertheless depressing PowerPoint presentation is released ...that doesn't seem sketchy to you?

You see nothing wrong with the owner of the most sketchy exchange (non-publicly verifiable) actively trading on his own exchange?

It is simply impossible to prove it is not a ponzi. And it would have every reason to operate as a ponzi. (higher stock value -> more noobs to pay 30btc reg fee -> more money to pump stock -> rinse & repeat)

How else can you explain a constantly rising stock when literally no revenue to justify it?

BTW if you watch the order book closely for a while you will notice there are actually only 1 or 2 people constantly trading.

lol true. he has no friends here, everyone knows he's an A-hole. Speaking of which he's going to have a very sore one once the boys in the hood get their hands on him. 

This extradition will permanently remove Mircea Popescu and his many troll accounts (Mpoe-PR anyone?) off these forums. That alone is fantastic news. That guy(?) is an annoying a-hole! Anyone who thinks different is either mentally ill or simply Mircea Popescu him/herself.

rethink - you are conflating the two documents which isn't helping.

The IPO document and this later statement on his website say two very different things, so let's stick with the IPO document as we know what the later statement says (he intends to sell the controlling shares).

So the IPO document explicitly states: 'Mircea Popescu further warrants that he will never sell more than half the total shares' Can you tell me in clear words what that means because I think it is already 100% clear.

It then goes on to say directly below as you mention: (g)In the event of the sale, merger or voluntary liquidation of MPOE/MPEx all proceeds will be distributed fairly to all shareholders by proportion to the shares they hold.

Now a sale that would involve shareholders receiving a proportion of the 'proceeds' is NOT THE SAME thing as the CEO selling a part or all of his controlling shares is it? If there is a sale where all shareholders receive a proportion of the proceeds that is a one-off complete sale of the entire company which would involve all shares being destroyed. ie the shareholders no longer are shareholders and the proceeds of the complete liquidation is compensation for that.

I'm sure you can see there is a difference between the CEO selling 65% of the shares whereby the remaining 35% IPO shareholders get nothing and the CEO selling the company and the new owner thereby paying off the shareholders and in essence inheriting a non-listed company.

@rethink-your-strategy:  minerpart is one of my more difficult patients.  I'm afraid reason and logic are no more accessible to him than Schubert's compositions are to a deer tick.  TL;DR: don't waste ur time.

Just to play devil's advocate...I took a look at the contract. You agree that he's allowed to sell the first 49%, as that is below "half", correct?

After that he says he will sell the 50% + the voting share to a group of credible investors. It seems to me that is covered in the contract, point g -

(g)In the event of the sale, merger or voluntary liquidation of MPOE/MPEx all proceeds will be distributed fairly to all shareholders by proportion to the shares they hold.

So I fail to see the problem, he's allowed to sell up to the halfway mark, and then he is allowed to sell the company as a whole (the controlling interest). I'm failing to see how he's breaking the contract?

*You were born to be a

I thought Mirceau that you might come back with a denial (you can't I suppose as your intentions are in black and white) or some sort of legitimatizing excuse as to why you are breaking the IPO promise. But no, you post another silly little picture.

Fellow Bitcoin community members, is this the behavior of a rational mind? Should someone with this much disregard for his own investors, his own retail customers and his own trade clients be trusted to run a securities exchange? I think not. I think this man needs to be in a prison. God save any of you if you have trusted this man with your money. Get it out while you still can because this little bunny is going all the way to the US of A, first class courtesy of the FBI. If he doesn't at the very least he will run off with your money. Don't become the next victims of the Bitcoin criminal class.

And as for you, my fine lady, it's true I can't attend to you here and now as I'd like; but just try to stay out of my way – just try! I'll get you, my pretty, and your little dog too!

Mirceau Popescu is cashing out and selling chunks of MPOE/MPEx.

Why now? The timing is suspicious - an SEC investigation with a possible immanent freeze on all MPEx securities and assets. So clearly Popescu wants to get his grubby hands on as much BTC to hide away as he can before the SEC and Romanian authorities close him down.

But he is free to sell MPOE you may think - well there is this one thing, a clause in the MPOE IPO document, I think this is pretty explicit in its meaning:

2. THE INITIAL PUBLIC OFFERING
2.2. The Terms of the IPO.
(a)Mircea Popescu has elected to divide MPOE/MPEx into 1`000`000`000 (one billion) equal non-voting shares......Mircea Popescu further warrants that he will never sell more than half the total shares.
http://mpex.co/?mpsic=S.MPOE

When does 'never' mean 'actually I've changed my mind'?? Answer - when he needs to run, here is what he is now saying:

'I do not intend to hold on to my controlling interest indefinitely. Once the above is complete, [the selling of the first 49% of MPOE].....I will sell S.MPOE controlling interest (50% + the voting share) to a group of credible investors'
http://trilema.com/2013/so-whats-the-plan-with-mpoempex/


So Mirceau is a confirmed liar and scammer. He lied to IPO investors about his intentions to sell MPOE and he is scamming them as he dumps this stock and prepares his way to the EXIT sign.

Run Mirceau you little snake. But there is no hiding from international justice. Certainly not in Romania, great allies of the US.

A HA HA HA
Even when the CEO is in a US State prison on serious financial malpractice and fraud/theft charges?!!!!
Being listed on MPEx then would be a DEATH KNELL!!!!


Major LOLZ - desperate to rip investors off you mean? Yes you are right, that needs some form of competence.


'I am right the World is wrong.' Is that how it is in MPEx Land?!!!  


HOLY H-BOMB. You are going to sell this Junk Security?! How can you shame-faced offer this garbage security when you know it makes next to no money and all your books are cooked and the MPEx volume is a manipulated lie? S.MPOE is a lie.

LOOK Mirceau, you are supposed to be (according to your own PR) a Billionaire! You are a BILLIONAIRE!!! That is obviously why you sell Paid-access to your blog site for 0.01BTC ($5)!!!! I mean, what BILLIONAIRE wouldn't need to spend time processing $5 payments for access to his personal blog!!!!!

Sorry dude you have a site that is 100% manipulated, false volume, false valuations and a false declaration of your own wealth/poverty.  

If you are making moves to start off-loading S.MPOE that tells me one thing - you are planning to run from this scam and take as much money as you can with you. You KNOW it is failing, this is just a desperate final cash-grab before you disappear.

Billionaires DO NOT sell the on-going companies that made them wealthy if they are 'more successful than ever'. It does not happen. You are trying to scam people Mirceau and this will not wash.  

Jimmothy - I love it. He should write fantasy novels.

http://trilema.com/2013/so-whats-the-plan-with-mpoempex/

Interesting read from mr popescu. Highly recommended if you are a fan of science fiction.

Includes some great quotes such as:

That's a neat document thanks for sharing see the information in general is getting better
Even have a few Alice examples in there

interesting read

https://www.dropbox.com/s/n76dosa3hcaldqi/SSRN-id2423461.pdf

@Stuartuk:

I like how Mircea before she got banned posted the EXACT SEC letter for all of us to read
It's also on trilema lol so this was non-news to me

Lol this thread is about you and your customers. Care to tell us what will happen to your exchange when the Romanian Police turn up at you door to execute the extradition request? Will the SEC give your customers their money back or will they seize all monies as proceeds of crime? What do YOU think about that Mr Popescu?

I'm not obsessed about you atall, I just react everytime you mention ACtM. You are the one who has spent 8months Trolling ACtM! A grown man with a potentially workable online exchange and what did you do? Throw it all away. They are coming for you - because YOU MADE THEM!

lolZZZZy

Look up 'self-sabotage' you have a lot to learn about yourself.

Pretty hilarious that you're obsessing with some Romanian d00d while your own CEO, Ken Slaughter, is being investigated by Missouri Securities Division.
How's that going, BTW, noticed that Ken doesn't like to chat about that much.  Everything good?
Still trying to put them lulzy virtual profit shares on virtually any exchange?
Good luck!