Post
Topic
Board Service Discussion
Re: Butterfly Labs CEO 25 Million USD Mail Fraud — A Concise Summary of Evidence
by
Rassah
on 24/09/2012, 00:50:35 UTC
@the_thing Before I only had BFL to base my trust on. Now it's based on BFL, Sonny, Inaba, and David Perry. I happen to believe David more than any of the other previous names. Also, I have not preordered yet, but am planning on buying, so I'm in a neutral position here, not stuck wishing my preorder will be honored, nor wishing BFL will fail because I'm rooting for competitors.

You're really going to compare owning a few shares in a public company to being an owner of a private company? How many of those 500 companies have added your signature to their bank account signature card?

Irrelevant, unless you have proof that Sonny has signature power.

That doesn't mean I'm in charge or can run off with anyone's money.

You're right, since you have no access to their bank account.

According to the statements, Sonny doesn't have access to the bank account, either. Though we only have his word on that.

Did you read the interview? Again, we just have to take the word of Sonny and the person who did the interview, but for me, anyway, the "standard corporate finance controls are in place" is good enough.

Owners of private companies have great leaway in what they can do.

Taking money from a business owned account that requires more than one signature is not one of them. Sonny never said how much ownership share he had. It may be small enough that he doesn't have much say if what the company does. We just don't know.


BFL can answer these simple questions:

Does Sonny have any access to the BFL bank account (i.e. is his signature on the signature card)?

Can Sonny sign corporate checks?

In the interview it was stated that two signatures are required, so Sonny doesn't have access and can't sign by himself. But that was Sonny's own statement. The question is WHO is it, specifically, that needs to state the answers to these questions, that you trust enough to believe?