Post
Topic
Board Service Announcements
Re: [Payout Updates] Bitcoinica site is taken offline for security investigation
by
ninjarobot
on 12/07/2012, 23:56:16 UTC
Core Credit LTD is a New Zealand Limited Company and the General Partner of Bitcoinica LP.

Ah this is new info. On 2012/06/07 Amir claimed that Core Credit Limited is Tihan's Parent company (the Limited Partner). See: https://bitcointalk.org/index.php?topic=84042.msg946751#msg946751  

Core Credit LTD was renamed to Bitcoinica Consultancy LTD significantly after the events occurred.

Yes it happened on 2012/05/30 and it was never explained why this happened despite me asking repeatedly. Nevertheless the legal incorporation date for Bitcoinica Consultancy is 2012/01/30 according to the NZ documentation.

Look at the documents posted up on the New Zealand Companies House website for the company you just linked: here. If you look through it, the company was registered as Core Credit Limited on the 30th of January 2010 and it was renamed to Bitcoinica Consultancy LTD on the 30th of May. Your own references show that phantomcircuit is right and you're lying through your teeth. This isn't new information either, someone noticed it and brought it up ages ago.

After some more digging I found that you are correct; It is not new info and it does seem I made some false assumptions in one of my earlier posts. See: https://bitcointalk.org/index.php?topic=84042.msg953181#msg953181

I assumed CORE CREDIT was the limited/banking partner (Tihan's fund) and BITCOINICA CONSULTANCY the general partner (the Intersango Guys). But I found an earlier post from Zhou that is pretty clear on the topic. See: https://bitcointalk.org/index.php?topic=81045.msg918845#msg918845

Quote
Certification of Incorporation: http://www.societies.govt.nz/scanned-images/17/BC10060962017.pdf

Application for registration of a Limited Partnership: http://www.societies.govt.nz/scanned-images/06/BC10060962006.pdf

These are public documents (free).

The general partner listed is Core Credit Limited, and Bitcoinica Consultancy Limited is a reserved company name (it can be reserved for Core Credit or a new company).

Since the sole shareholder of Core Credit has nothing to do with Donald, Patrick and Amir, I believe that they have private agreement or there are ownership changes that are not submitted to the register.

And: https://bitcointalk.org/index.php?topic=79688.msg883562#msg883562

Quote
Bitcoinica has started using a new bank account in New Zealand for wire transfers. This account is opened with Bitcoinica's banking partner Core Credit Limited (an approved FSP in New Zealand).

I thought the company name change on May 30 from CORE CREDIT > BITCOINICA CONSULTANCY indicated something dodgy since there was an earlier BITCOINICA CONSULTANCY record that was withdrawn. But actually it seems this was part of the normal formation process that apparently only completed some time after the hack. (I assumed the process was complete on April 24 since that was when Bitcoin Consultancy's new role in Bitcoinica was publicly announced).

May I remind you that:

  • On 2012/01/30 Bitcoin Consultancy became Bitcoinica Consultancy Ltd. (*1)

[...snip...]

References:
1) http://www.business.govt.nz/companies/app/ui/pages/companies/3715077

There is no way you could possibly have interpreted the linked reference to mean what you say it does.

I should probably have been clearer in my wording here. I did not mean that the corporate entity Bitcoin Consultancy became Bitcoinica Consultancy, merely that the same individuals behind the Bitcoin Consultancy became the owners of Bitcoinica Consultancy. See: https://bitcointalk.org/index.php?topic=83711.msg922963#msg922963

Quote
Bitcoinica Consultancy has three people including two technical experts. They have been working in Bitcoinica for more than one month. And they're assumed to bear all liabilities of Bitcoinica LP.

And from Tihan: https://bitcointalk.org/index.php?topic=81045.msg919130#msg919130

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The members of Bitcoin Consultancy operated Bitcoinica via a separate New Zealand Ltd company formed for this purpose.

I'm sorry if I added to the confusion. And if anybody feels I have personally defamed them then I offer my apologies. My intent is not to deceive but to understand what is going on and who is in charge since I have a not insignificant balance in Bitcoinica that I would like to see returned. That is all. I assure you that trying to figure out corporate structures is not my expertise nor my hobby ;)