Topic: [was on GLBSE] LIF.x - page 4. (Read 22459 times)

I don't know, I haven't the time or the necessary skill in working out from these records where the mistake lies. This is why I've made them available in public, for the shareholders to pick through and work out for themselves whether fraud was involved.

I am guessing someone who has some experience trading in stock markets (or other kinds) might be able to work it out.

I have also looked at what accounts were the biggest buyers and sellers of these assets and have come to the conclusion that no foul play was involved, none had made an exceptionally large number of trades in them. That is Peter had not set up another account to secretly buy up his own shares to give the market the impression there was more demand than there really was.

I'm waiting for LIF shareholders to give their verdict on Peters intentions.

Nefario.

All peters sells
http://pastie.org/3272210

All his buys
http://pastie.org/3272220

Withdrawal history

Amount(BTC) || Address                                               ||Date(YY-MM-DD)
-20.00000000 || 1Mo2hJjX4nxrFgSKYAvefeH96Smw43zpqo || 11-08-07
-1.50000000 || 1JtPtQTh5yNsCg2y6ywEzqfU5BrYeUjRuW || 11-08-10
-1.74000000 || 1C6xMKmPtgncJ8baiGLKwcmfo5nm2m233w || 11-08-11
-49.99500000 || 1LSCXP7JxJHPLrXZ3TWcAYLqaFFPr8R1tg || 11-10-19
-9.99500000 || 19BbA9cnFVMYtDFGHe9taaaUdvQTaEFQTL || 11-10-21
-17.49500000 || 1EroAsyvhDFoVqnFUB7hxVKmKYFDxFiU64 || 11-10-22
-37.49500000 || 1EoD2BUh4NVvYYXdZaPBXdM8UfwbjLBiwg || 11-10-22
-21.49500000 || 1HMYix5bPp4wzRYdhAHuneh3frAtwNHXBH || 11-10-23
-4.49500000 || 1GoQMU5hDAJPHvfh7bXoQhSacBMbY4MP5U || 11-10-25
-45.99500000 || 12LhAnKRpWpdVBPSyStQ5VBKBR4ZrDpaQf || 11-10-27
-31.49500000 || 148EBg2328sjqWPuizX4YZK3fHmLZNP6GH || 11-10-28
-25.99500000 || 1C4LpUVf6FkibWhKf7dnzVN637bydYf7nz || 11-10-29
-19.49500000 || 1C4LpUVf6FkibWhKf7dnzVN637bydYf7nz || 11-10-29
-20.99500000 || 1FeUeCDu4BKHyqadpLrxTpDGZcu36jiDNH || 11-10-30
-24.99500000 || 1FeUeCDu4BKHyqadpLrxTpDGZcu36jiDNH || 11-10-30
-27.50000000 || 15Q1f4q1BGGqAk5UNNGoB6e3sNpgPKG7sp || 11-11-01
-50.00000000 || 15Q1f4q1BGGqAk5UNNGoB6e3sNpgPKG7sp || 11-11-01
-88.50000000 || 15PAvLteWMLV6kZuCwxUFFNV6X1757CyAV || 11-11-04
-35.50000000 || 15pVYohj4q3Uo3StiUnHYZgrEuKyowUwcb || 11-11-05
-20.00000000 || 15pVYohj4q3Uo3StiUnHYZgrEuKyowUwcb || 11-11-05
-48.41000000 || 16iY6oqVTLEhs9z8vmJ73ZFX5eYFGTnGVy || 11-11-07
-30.00000000 || 12HsWorsgARYf3dxscn6aV73fFf3d9hLTP || 11-11-10
-100.04500000 || 1HERo1RNf9tFySH4ZD8igTDBnKnNBpnLzc || 11-11-12
-11.50000000 || 1HERo1RNf9tFySH4ZD8igTDBnKnNBpnLzc || 11-11-13
-60.00000000 || 1BwyAtfLs4Vw6x7QfoHJsoMB1uUdM7FeHC || 11-11-15
-20.50000000 || 1H64ExDApWKgRTynE2hCLsAs3rhNQhDxfn || 11-11-17
-13.94500000 || 1Leq1tTGPWNwujbiFCucdgmy4CRVe4tEb7 || 11-11-19
-155.99500000 || 1EX2xkiLxTAHyCVR18qvzm9v6rZh3FhCfu || 11-11-20
-58.49500000 || 1Mo2hJjX4nxrFgSKYAvefeH96Smw43zpqo || 11-11-22
-43.99500000 || 1Mo2hJjX4nxrFgSKYAvefeH96Smw43zpqo || 11-11-25
-49.99500000 || 13jBAntpDdaWPkA5fqCjqhmUrbjSd5nQfn || 11-12-22

Grand total BTC -1147.56000000

Deposit history
.57000000 ||  11-08-03
5.00000000 ||  11-08-25
.90430888 ||  11-09-30
4.56347366 ||  11-10-07
3.85786629 ||  11-10-14
15.54170000 ||  11-11-04
22.12000000 ||  11-11-11
40.00000000 ||  11-11-30
15.00000000 ||  11-12-01
200.00000000 ||  11-12-03
30.00000000 ||  11-12-10
40.00000000 ||  11-12-11
50.00000000 ||  11-12-15
43.01000000 ||  11-12-31
30.00000000 ||  11-12-31
40.94742400 ||  12-01-05
95.22108000 ||  12-01-05
78.66631980 ||  12-01-06
.90000000 ||  12-01-14
.56000000 ||  12-01-14
1.97290702 ||  12-01-17
10.00000000 ||  12-01-18
3.46929550 ||  12-01-20
8.00000000 ||  12-01-24


Grand total BTC 740.30437515

Dividend payments total 443.42382796

Well having a quick look at his account now and he's not made any BTC withdrawals for some time. Will report more, digging deeper.

Man, that's ugly. One would hope that a lot of the ones zero'd out were sold recently. But, that should have returned a lot more value back. :/ sooo disheartning. The biggest ones left are his own and SMM, which tanked back in Oct.

Am definetly very curious to see the recent sales...  I've got a sour feeling in the gut that says the good ones were cashed in earlier to put into something much higher risk..? *sighs*

this x1000..

Give me a while, I will also prepare a list of all withdrawals or transfers of bitcoin and the btc addresses. We should be able to determine quickly enough if this is a case of outright fraud, of attempts to cover up mistakes or plain stupidity.

I guess I spoke too soon, I thought that the issue was that he wasn't making any payment at all, my bad.

In this environment it's difficult to discern the difference between fraud and simple failure. Also bear in mind that we're working a lot of anti-fraud measures into GLBSE 2.0

Now I have frozen peters account, here is a list of his current shares held, where the balance is 0 these are shares that he HAS held before. Give me a little time and I will see if I can find his trade history. There were only a few satoishi's left in the account.

BTCWEB:0
XID.ALPHA:0
SDM:0
IBB:0
LIF.B:1180
BTCNSC:6
BTCBOND.FEB2012:30
BitPonzi:0
CL:0
PBJ:247
BTCBOND.MAY2012:30
BitCoinTorrentz:0
UBTC:91
MESC:10
USGOLD:10
SIN:0
BSF:12
bitdedi:20
TyGrr:0
IMCEX:0
BB:0
SMM:1451
BIB.goat:0
JLP:0
LIF.CX:2172
LIF.M:962
BitFlowSys:0
DISHWARA:0
GEM:4
Bond-RonGross:19
CheaperinBitcoins-Stocks:0
JLP-BMD:0
CM400:0
ENjan16:0
CIB-Solutions:9
SLV:0
MergedMining:0
FPGA.contract:0
CC:0
LIF.A:9170
OPTIMALBITCOIN:0
bit.inc:0
BMMO:0
UBX:0
LIF:671
BCL:11
OTF:0
SDM.LEVA:161
BID:100

He didn't really fulfil much, he just paid a dividend equal to the amount he was offering for his shares.  Which is roughly 15% of what they were the day before he made the announcement, a number alot of us were refusing to take.  I BOUGHT some of these shares THAT DAY at 5x as much as he just gave us, due to open orders I had at the time of the announcement.   LIF.CX was trading at .5 BTC, a price the fund had set itself artificially and he was paying dividends up until 2 weeks before this crap, suggesting he still had the whole .5 in the coffers, an estimated 1500BTC or so.  Now the LIF.A, he claims he got scammed, fine, I don't fully believe it, but it is more believable than LIF.CX, what happened to the that?  Zhotuonged?   He still won't give us more than 1 line answers that are 85% bullshit.  I just got back a whole ~25 BTC from his dividend payment, face value of my shares was ~180 BTC, 85% loss?  The last released financials showed ALL funds in a PROFITABLE position, 30 days passes and everything is down 85%, and Peter just says "duurrrr sorrry guys, have a few pennies". 

Peter - you should make some more dividend payments ASAP, and if you really can't, and the money is all gone, you NEED to tell your shareholders what the fuck happened with some numbers to chew on, instead of this BULLSHIT stance you are taking with us. 
   

That's one opinion. I think he was a criminal jackass who manipulated the game, used disruptive announcements to control the downward trend of his share value, and cashed out massively by abruptly terminating efforts on his various Funds without notice, without investor input and without care for how much damage he wrecked on the market. He didn't fulfill anything, he fleeced a significant number of people of a very real amount of value. This was done methodically and with a carefully managed program of diversion, mis-information and dishonest statements to keep the attention off his actions. Any crumbs he offered at the end were an insult.

And I think he did this while holding himself out as the sanctimonious guardian against fraud and bad investment, when his own Funds were now the single worst collapse in value and lost investment in the history of the GLBSE. Offering pennies on the value by consciously manipulating the value downward and stealing the difference is not ethical stewardship- it is the hallmark of a thief.

If that makes him a valuable part of the GLBSE community, then in this writer's opinion you are embracing the dishonest element, and should be held accountable for that decision. I wonder if the rest of the owners of the GLBSE feel as warm and welcoming to fraud and methodical theft? The last thing the GLBSE needs at this point is to side with the demons, but if that is your choice... the greater community and market will respond with their rapidly decaying trust and use of the GLBSE.

My address is still live- I look for my payout at his earliest convenience. I won't, however, be holding my breath, or pausing in my efforts to defrock this scammer.

I would like to thank Peter for fulfilling his obligations while winding up his company. I think he was a valuable part of the GLBSE community.

Thank you, Peter.

And this, please. It will go a long way to keep confidence if nothing else.

cheers

Could you also provide closing financial statements and an explanation of how your strategy went wrong?

Thanks.

Since the trading on the LIF.* shares has been frozen, I went ahead and paid out to the remaining shares at the price I had on offer.

yeah... Peter please just say somebody hit you on the head with a $5 wrench and come back   

it will take us a while to shut up. Also more people might join the party.

Wow, I am glad you can read sunshine and hope into the words "I am getting out of the bitcoin biz" and seeing that he does nothing to address the issues he has created.

If it was his intention to ride the storm out and come back stronger, he sure picked a weird way to do it by announcing that he was dumping everything, there was no recovery available and that everyone was hosed. But hey, that doesn't mean he won't come back, claim it was all a dream sequence and start over again.

Especially if he can find another crop of patsies to fleece.

Is this why you haven't sent me some fundage yet?

You know, Im pretty sure Peter is just trying to judge where he currently stands in regards to his ability to have the funds perform to the best of his promised performance. We have worked with each other multiple time and I have no doubt he will do the right thing. I currently hold mutliple shares of his various funds and feel quite comfortable while they are frozen. If peter wanted to run, he could have done so a long time ago.
Give him some time to get things in order and Im sure that the LIF funds will rise again.

Think of this as a business opportunity. I posted about looking for founding partners in a share brokers firm to operate on glbse. If you really care about scumbags taking new users to the cleaners its a chance to kick some ass and take some names. I am totally surprised glbse has no brokerage firms setup yet.

I think companies that are listed by this form would sell for a premium if they were vetted properly.

This is a pretty obvious 'use case' for freezing the asset from being traded. If peter wants to 'buy' them at whatever the reduced buy offer supposedly was then all he has to do is pay out didvdend to all outstanding shares @ reduced price * outstanding shares

So, if no restitution is made, and the issuer doesn't respond, this means we won't be able to even sell into his buy orders?