GLBSE user funds are more or less safe, but I have bad news from the GLBSE shareholder meeting.
Nefario has, without a shareholder motion and in violation of the bylaws and GLBSE ToS, decided to close down GLBSE. Users will be able to collect deposits only after submitting identity info. A similar system to the one that Goat was forced to use will be provided so that assets can be traded elsewhere.
He is also illegally using user deposits to pay for his lawyer. If he continues, the GLBSE cash reserves (which I manage) will not be enough to cover costs and GLBSE will be in debt to users.
I'm very sorry about this, but those shareholders who are sane are helpless against Nefario and the insane shareholders who for some mind-boggling reason think that closing down GLBSE in this way will help both themselves and GLBSE users.
Since Nefario refuses to give complete details about his legal concerns and he has been acting strangely, I feel that it is somewhat possible that Nefario is working under some sort of plea bargain and is gathering IDs for future prosecution.
This is concerning...
Yes, perhaps.
Didn't you say at one point... like weren't you were privately handling not-held-in-GLBSE shares for someone and directly paying dividends?
... Really wish I had some way to prove that my GLBSE stake in nasty is "12 shares" right about now. Ah well, I'm sure it'll get sorted somehow / at some point.
I'm assuming you withdrew all the IPO funds already, and as such, any money paid into GLBSE ticker "NASTY" is actually already in-play for hardware?
somebody accidentally sent me a private message and I responded with this:
Indeed...
All I know for certain is that GLBSE is unavailable, theymos is pissed at nefario as a result (level of communication, etc.)
... and there is probably some degree of "lawyering up" going on.
The only companies I have shares which were traded on GLBSE the owners / operators are pretty cool
some will even allow you to hold your shares outside of GLBSE, still get dividends, etc. so all is not lost.
What is it they say / suggest about never investing more than you can afford to lose?
I'm personally not "dead in the water" as a result of (temporarily?) being unable to manage any assets via GLBSE. I have not been "scammed" as far as I'm aware.
