Aug 10 08:07:58 you deem yourself able to repay your depositors in the event bs&t goes bankrupt, and nothing is recovered ?
Aug 10 08:08:00 back in a couple of minutes - grabbing a glass of wine - friday evening here
Aug 10 08:09:57 back
Aug 10 08:10:17 in the event BS&T goes bust, I have more than enough assets to cover that
That turns out to have been a lie, and hardly an innocent one.
I believe after reading what he has said after the Pirate default, is that he under-estimated the exposure people who were his borrowers, to Pirate, but that he did not have prior knowledge.
A bank counts debt is holds as assets & liabilities. Unless you have more evidence, I am not sure this alone should meet the bar. I have been visiting his thread in another section and so far, he has been slowly paying people back in regular intervals.