Quote from: repentance on November 26, 2012, 10:49:00 PM

Quote from: Bitcoin Oz on November 26, 2012, 10:25:41 PM

Why do people assume these "loans" exist in the first place?

Make up any old loan contract and sign it with yourself then you can ship the company equipment to yourself free and clear.

Not that thats what is happening but I havent seen any signed loan contracts or other parties confirming things. The whole setup is completely dodgy.

He shouldn't have deleted his old posts. I actually remember him starting a thread trying to get "liquidity loans". I'm trying to remember whether the loan request was phrased as it being a loan to usagi or a loan to one of his ventures (in which case that venture would be responsible for paying back the loan). I vaguely remember him getting pissy because he wasn't getting much in the way of responses.

It is completely dodgy but it's what happens when you have these toy companies where there is no restraint on the founder/CEO/whatever acting entirely out of self interest because you can't oust someone from control of a company which doesn't actually exist. "Shareholders" have no power in these toy companies. It's something people need to remember for the future.

I experienced what that means with glbse.