Topic: Usagi- is he or isn't he a scammer. - page 2. (Read 4099 times)

Anyone anywhere can start a bitcoin investment fund, collect coins and proceed with their investment plan.
There are no bitcoin securities laws or regulations.
It seems that most inverstors seem to want their bitcoin portfolio managers
to play by generally accepted accounting/investing rules.

However that rarely seems to be the case for bitcoin securities.

1  There is no real auditing.  
2. There is no filing of offering memorandums etc.  

So basically portfolio managers are able to do what these see fit with their funds
and deal with disgruntled investors/creditors as they see fit.  While Usagi provided an investment offering he is not necessarily being accused
of violating this contract.  

It seems to be clear from these posts that Usagni:

1. Improperly/inaccurately valued Assets  EDIT** see post #17
2. Was caught at least once  attempting to misappropriate company funds.
3. Purposely claimed his fund was going out of business to drive down share price so he could buy back shares at a lower price.
4. Destroyed material evidence.
EDIT:
5.  Took insurance payments and did not pay claims.

While Usgai has many detractors there doesn't seem to be anyone coming to his defense.  Also, Usgai refused to provide specific factual evidence to support his claims but instead spams any open thread, and even starts new threads which all seems to be an attempt to obfuscate any questions at hand.

This evidence and his continued response to these accusations clearly suggests that he is not a very fit portfolio/investment manager.  

Was Usagni intentionally trying to defraud his investors.  Is he a scammer? It it up to the bitcointalk.org administrators to determine any further action.


I replete:  I'm glad to update any or all of my previous posts here should anyone provide additional facts to refute any conclusions I have drawn.

Thanks.

Usagi has posted here in response to this thread.  
https://bitcointalksearch.org/topic/counter-evidence-for-the-bcb-thread-134011

I'm glad to update any of my posts if anyone would care to pull some FACTS out of here that refute anything I'm already stated.

Also for full disclosure I received the following PM from augustocroppo

[snip]
Shame on you, BCB.

You seem do not understand how to examine evidence...

You are being completely biased against Usagi.
[/snip]

augustocroppo,

Sorry to disappoint you but this is currently my opinion.

If you would like to pull some FACTS out of any of usagi's statements I'd be glad to update any or all of my previous posts.

Thank you.

deprived and  makomk have posted evidence that Usagi mislead his investors to lower the share price of his assets then bought them back at a lower price.

https://bitcointalksearch.org/topic/m.1426523

Deprived has pieced a time line from actual post of Usagi's attempt to misappropriate company assets.



The original embedd edusagi quote says that ALL his companies had gone.  Puppet asks if that means usagi will keep investors coins.  Usagi then (amongst the usual insults) claims that "everything we had was invested on GLBSE".

This puzzled me - as how could BMF's mining rigs/pre-orders be on GLBSE?  Maybe it was just a typo and he meant to say "Most of our assets are on GLBSE but I'll distribute the proceeds from sale/cancellation of the mining rigs" - but accidentally mistyped a few words.

So I asked :


Surely now, usagi will just say "Oops - forgot about those - obviously the proceeds from those will go back to BMF investors.".  Well, that's not exactly what he said:


Well OK - obviously he doesn't like me very much, but at least now I've reminded him about the mining rigs.

But what's this?  Oh a scammer thread about me (and others).  I can't quote the thread - as usagi locked it to prevent those he accused from responding (and in the hope his theft attempt wouldn't be noticed).  But here's a link to it:

https://bitcointalksearch.org/topic/eskimobob-puppet-deprived-etc-127096

In brief he alleges that I (and others) made false accusations against him to try to ruin his business.  Amongst the ones against me is #10:

"10. https://bitcointalksearch.org/topic/m.1271394
"You've said a few times in this thread that EVERYTHING you had was invested on GLBSE - yet that isn't actually true is it?"
During the times BMF had hardware on order I had never failed to mention that. A shareholder motion was created over the issue of buying hardware. I made a very public series of posts about it. I never once tried to hide the fact we had a small amount of hardware. I mentioned it several times in PM to various creditors."

This is wierd - my post he links very clearly quotes a post in which he says ALL his assets are on GLBSE and he's now accusing me or attempting to defraud him by saying that's not true.  So is he saying BMF doesn't have any hardware any longer?

Later in the thread the truth starts to come out:

https://bitcointalksearch.org/topic/m.1349684

If you read this post you immediately see the problem of arguing with usagi.  Usagi states they had hardware (so what I said was correct - it was untrue to say all assets were on GLBSE) then says : "If you weren't lying, just go away. if you were lying.. just go away. "  Given that the issue I was accused of lieing about was whether BMF had assets non on GLBSE, and given usagi had in that same post said BMF had hardware, how can there possibly be ANY confusion over the fact that I was telling the truth?

So: It was just a misunderstanding - and usagi now has been reminded about the hardware.

But wait - what's this? (from the last linked post):

"I confirmed in private to loan-holders hardware had arrived. one offered to exchange the single for the debt. I turned him down until I get the info from nefario."  So usagi was considering giving the single to loan-holders when the info from nefario arrived.  That's strange - as the hardware belongs to BMF and the loan is guaranteed by CPA/usagi personally, not by BMF (if disputed can dig out the loan thread).

A bit strange that usagi had been discussing the hardware with loan-holders (who have nothing to do with BMF) but then he accused me of scamming when I said he had hardware.  Kind of looks like he realised he couldn't get away with pretending the hardware didn't exist any longer so gave up on it - and then locked the thread accusing me, so I couldn't even reply any more (temporarily unlocking it very briefly to post an "update" in which the village idiot Augusto stated usagi was innocent).

But that's not the end of it.  Now lets look back 2 days previous to the scammer accusation by usagi (only part of post quoted):


So 2 days previously they had 2 pre-orders and no physical assets.  But ""I confirmed in private to loan-holders hardware had arrived.""

Remember for later the claim "we also ordered 2 FPGA singles. So besides that everything we held was on the GLBSE."  

Fast forward a few days and we have this:


Now lets put these things in date order:

Nov 18th: "we also ordered 2 FPGA singles. So besides that everything we held was on the GLBSE.

So, first of all, I do not have any kind of massive amount of bitcoins, nor do I have any physical assets that are owned by anyone."

Nov 21st: Accuses me of attempting to defraud when I said he had assets of BMF's that weren't on GLBSE.  Then changes his mind (but STILL claims I was lieing) and says:

Nov 21st : "I confirmed in private to loan-holders hardware had arrived. one offered to exchange the single for the debt. I turned him down until I get the info from nefario."

So one of the 2 FPGA singles must have arrived between 18th and 21st.  Usagi won't use the singles to pay off CPA debt until  info has arrived from nefario.

Nov 21st : In same post usagi again iconfirms the hardware is only FPGA singles : "Look if I said that it means either the FPGA singles we now have on order either weren't ordered yet or hadn't arrived. "

Nov 22nd : "GOOD NEWS! Loanholders have announced interest to buy:

a) the guitar and amp I am selling
b) the hardware I have recieved

These loanholders have also given me permission to confirm that I have done this once the deals have gone thru and equipment has been verified working."

That's strange - as no info had arrived from nefario.  On 21st he rejects the offer and on 22nd he announces it?

Now onto a different thread and Nov 26th:


Suddenly 2 FPGAs (on the 18th that was the only pre-orders and they had no hardware) has become "a few FPGA and ASIC singles".  And usagi is helping himself to one to pay off a CPA debt (note: usagi later claimed this would be deducted from CPA's share of BMF settlement so it's NOT necessarily an attempt to scam).

Are we really expected to believe that on 18th usagi only rememberd 2 singles, on 21st he forgot and he had any hardware at all (and accused me of lieing when I said he had assets not on GLBSE) then on 26th he suddenly remembers there's some other hardware as well?

Or could it be that he on 18th he tried to pretend BMF only had preorders for 2 singles, he then agreed to give one to a CPA debtor and was hoping noone would notice when he started claiming ALL his assets were on GLBSE.

Then on 21st he took his attempt to steal them a stage further - accusing me of lieing when I said he had assets that weren't on GLBSE.  Look carefully at the wording:

"During the times BMF had hardware on order I had never failed to mention that. "  Past tense - "had never failed to mention it" - not "have failed to mentioned it."  He is saying that I was lieing when I claimed he still had assets not on GLBSE and that when he did have pre-orders, he disclosed it.

Later same day he realises the game is up and admits to having 2 FPGA singles - then locks the thread in the hope it'll die and noone will notice how he was attempting to steal from BMF.  Note that we KNOW he hadn't got rid of the single then - as on 22nd he announces it's going to be used to pay off a CPA debt.

He very clearly was pretending not to have any mining hardware -  to the extent of lodging a complaint over my 'lies' in the scammer forum.  Why did he then admit to having them?  Can only speculate on that - but most likely he realised he'd previously been quoted as having them (and had mentioned it on the 18th) and, whilst he can delete his own posts/website showing what his companies had, he can't delete other people's quotes of his posts.

And how do you forget you ordered an ASIC (and 2 jalapenos) whilst remembering the 2 FPGA singles?

Not only did he try to scam - but when I pointed it he had the bare-faced cheek to accuse ME of trying to defraud him in exposing HIS scam attempt.

If it's of any relevance, the pre-orders he actually had (or claimed to have) less than a week before GLBSE closed were:

2 Bitforce Singles
2 Jalapeno
1 Bitforce 'SC' single