Re: Usagi: falsifying NAVs, manipulating share prices and misleading investors.
Then maybe it's time to revisit. Anyone care to read this thread and summarize.
Summary: puppet said Usagi falsified navs, conveniently forgetting to mention that the spreadsheets in question explicitly state that all numbers are approximations. Then usagi redoes the spreadsheets to pull data directly off the GLBSE, and puppet/EB/etc cry foul again stating that usagi is using an unfair/biased formula. So usagi redoes the spreadsheets a third time, backed by shareholder motions, using both formulas and allowing investors to make their own decision about how to value the shares. The trolls go bananas and everyone starts to realize no, usagi is not a scammer, and the trolls are just dicks. Then GLBSE shuts down and "therefore usagi is a scammer".
Unfortunately there are some people here who think they can say anything they want and that being anonymous on the internet will protect them. You just have to put up with their shit, I guess.
As far as scam accusations I'd like to add the following
6) Voting as a shareholder with interconnected stocks and personal shares.
-"Shareholder Majority" was replaced by the number of shares Usagi wanted to vote with. I believe one poll was even voted on by more shares than were outstanding before or after the vote (made active by transferring to Usagi and then back, or voting with non-voting shares).
-This voting also happened on non-action polls like "Is Usagi doing a good job?" for all the obvious reasons.
-Actual shareholders are the victims in this case held hostage to usagi's whims
7) Usagi first promised then rescinded on Bakewell insurance saying that it would be refunded at first if Ian wanted, then if the shareholders voted for it. After the shareholders voted in favor of reversing the insurance, then only if a dividend of the same amount was paid, then finally relented to if Ian promised to pay out a dividend of equal amount after
-Ian's link to here for the relevant start
-Ian's later post in the same thread here with his added emphasis on PMs between usagi and himself where usagi agreed to refund pending a motion.
-Bakewell shareholders and Ian are the victims in this case, Bakewell was held hostage to usagi denying repayment, Ian while usagi tried to drag his name through the mud for trying to end his affiliation with the "upstanding" usagi and illiquid CPA
BMF's CPA insurance plan, usagi failed to properly resolve a conflict of interest-BMF paid 550 BTC for an insurance policy with CPA to insure against loss of NAV
-BMF lost NAV (as with most of his funds and attributed to poor abilities as an investor)
-usagi chose to "accelerate payment" on BMF's end to the amount that would have been collected from CPA
-BMF was still on the hook for the additional 50 BTC above coverage paid to CPA
-So either
*usagi acted against BMF's interest and bought overpriced insurance from CPA without a shareholder vote
*usagi acted against BMF's interest by accelerating payment unnecessarily
-BMF shareholders were the victim to usagi doing whatever he wanted and then voting with his own shares as in example 6