Is this the correct and complete lineup of the principals involved with
Bitlend?
D. Allen Shinners
Joe Mordica
Adam Matlack
Michael J. Koerner
Edit to add: Michael claims to not be a part of Bitlend, but simply promotes it for free.Jason Sponaugle
Richard Nelson
Eric Kraus
ALL of these people were/are deeply involved in GAW and/or Paycoin.
Since
the pack of really standup guys running Bitlend refuse to answer even the most basic of questions about the Bitlend operation, I have sifted through the various statements made by the admitted principles- some of which have since been removed or edited, to try to ascertain the complete ownership of this completely legitimate and trustworthy lending institution. Please respond and verify that these people are all involved in Bitlend, and also please indicate any others, including paid shills and such.
While you are at it,
can you please answer the question about the supposed Dubai business incorporation for Bitlend? Is it a UAE/Dubai registered business or not? Why on earth are you refusing to answer even the most basic questions about Bitlend? If the UAE/Dubai registration is legitimate and not a flat out lie, then who are the UAE national(s) who have the 51% minimum ownership of Bitlend that is required for that to be legitimate?
Expect this list of valid and basic questions about Bitlend to grow and be asked repeatedly until they are answered. If anyone is aware of any information that I have missed or an incorrect conclusion I have made about the above, please post here with any information you have.
This question goes out to everyone, but the Bitlend Operation Team in particular, of course: Assuming the Dubai registration is valid, and at this time that is a big if, Bitlend appears to be perhaps barely in compliance with various anti-fraud and anti-predatory lending laws of the United States of America and it's constituent States , skirting regulation of some due to operating with Bitcoin instead of USD, and perhaps also by "registering" (maybe) the Bitlend operation in Dubai. To my knowledge ALL of the principles in Bitlend are United States Citizens who currently reside in the United States. If all of Bitlend's acting principles are residing in and performing the functions of this "company" (no proof of actual legal incorporation has been provided yet) within the United States of America, are they then not required to adhere to US laws?
Another thing occurred to me yesterday, which I am unsure about. Bitlend appears to be operating in a "legal gray area" due to the loans being made in
BTC. (What about WY and NY??) However, the ultimate liability of the borrower and protection for the lender rests in collection agencies. These collection agencies will seek remedy not in
BTC, but in United States Dollars. If the ultimate liability of these loans rests in USD, does that make Bitlend subject to the financial, anti-fraud, and anti-predatory lending laws (especially CO's APLLs) that they are trying to skirt? This is a very serious question that needs to be addressed. Bitlend? Are you going to answer? Any legal or financial professional's here on BCT care to give their opinion on this?