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The frauds committed by LFCity were quite well exposed long before the dissolution; the audit has confirmed them but has not found any embezzlement of grant/investor funds, and has accounted for expenses *exceeding* external investment.
The frauds/negligence committed are as follows:
1) Misrepresentation of organizational/control structure
2) Misrepresentation of grant income
3) Lack of proper accounting
4) Lack of separation of funds and accounts
5) False and misleading accounting practices
6) Fictitious transactions between related entities
7) Falsified annual report and fictitious dividend declaration
Pump and dump of equity by principal
9) Running a deposit taking operation without disclosing business practices
Regarding point (9), point (4) was the leading downfall, as deposits were used to pay operational expenses, pro-longing an operation doomed by terminal incompetence, internal factionalism, and pie-in-the-sky Napolean Hill faith.
The frauds/negligence committed are as follows:
1) Misrepresentation of organizational/control structure
2) Misrepresentation of grant income
3) Lack of proper accounting
4) Lack of separation of funds and accounts
5) False and misleading accounting practices
6) Fictitious transactions between related entities
7) Falsified annual report and fictitious dividend declaration
Pump and dump of equity by principal
9) Running a deposit taking operation without disclosing business practices
Regarding point (9), point (4) was the leading downfall, as deposits were used to pay operational expenses, pro-longing an operation doomed by terminal incompetence, internal factionalism, and pie-in-the-sky Napolean Hill faith.
BTW, did any of the visitors to Camp BFL hear yodeling stemming from any of the offices?
http://web.archive.org/web/20021119160526/http://yodelbank.com/
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What currency is used?
The Yodel Bank uses the DMT Rand (DRAN) as the official currency, which is a currency product offering of the Digital Monetary Trust. The DMT Rand is essentially a composite of the most widely traded currencies and gold. The DRAN's composition ensures its liquidity and nation-state diversification.
Read this paper for more information: The DMT Rand: A Currency for the Next Hundred Years. Use the bankbot 'value' command for daily updated exchange rate values. Since that information is not real time it should only be used as indication.
The Yodel Bank uses the DMT Rand (DRAN) as the official currency, which is a currency product offering of the Digital Monetary Trust. The DMT Rand is essentially a composite of the most widely traded currencies and gold. The DRAN's composition ensures its liquidity and nation-state diversification.
Read this paper for more information: The DMT Rand: A Currency for the Next Hundred Years. Use the bankbot 'value' command for daily updated exchange rate values. Since that information is not real time it should only be used as indication.
http://www.privacy.li/forum/viewtopic.php?f=18&t=388
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Yodel Bank was also run by J.Orlin Grabbe, just to give his DMT-ALTA scam a different flavor.
Look at the ugly design of YODEL BANK, the typical ugly design AND COLOR (this light violet), which you can find in all the following websites, showing the same mind behind all those scam ops:
- http://metropipe.net (tunnel snoops)
- http://mailvault.com (MAILFAULT)
- http://yodelbank.com (scam, same as faulted dmt)
- http://ica.citystateinc.com/ (scam op, trying to 'convince' people with pseudo judicial services)
Look at the ugly design of YODEL BANK, the typical ugly design AND COLOR (this light violet), which you can find in all the following websites, showing the same mind behind all those scam ops:
- http://metropipe.net (tunnel snoops)
- http://mailvault.com (MAILFAULT)
- http://yodelbank.com (scam, same as faulted dmt)
- http://ica.citystateinc.com/ (scam op, trying to 'convince' people with pseudo judicial services)
I believe the last line is still being used today concerning other Bitcoin entities:
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(scam op, trying to 'convince' people with pseudo judicial services)
