Quote from: usagi on January 16, 2013, 01:23:50 PM

Quote from: conspirosphere.tk on January 16, 2013, 09:30:12 AM

[snip]

Amazingrando sold bonds promising 105% PPS, then behind investors backs sold again this contract to a second class of bondholder.

In other words, he sold a car to smitty, then turned around and sold a car to bill. Now smitty is complaining, where's my car, and amazingrando is all like

Quote from: amazingrando on December 06, 2012, 06:41:14 PM

I am working on a plan that will give you a few options including payouts, buyback, and ASIC upgrade. I hope to share details of that this weekend.

That really stinks.

Amazingrando lied to the people who bought bonds from them. He told an actual lie in order to sell more bonds. It wasn't a misunderstanding or a mistake or old data or someone trolling. It was amazingrando telling a lie to rip someone off for his own benefit.

I shouldn't need to tell anyone that's the very definition of a fraud.

Now. Is it true? Is that what he really did, or is this another smear campaign? Huh

Don't think that's quite what happened. What actually happened is:

He started selling bonds in public.
Then sold a bunch privately (i.e. off market - if you look at BTC-MINING you'l see where a large chunk of these went).
When GLBSE went down he used funds that were being held for dividends to buy ASICs - leaving him insufficient cash to pay out the dividends he owed.
He somehow scraped together enough to pay out dividends to the private investors - but was left with insufficient to pay out regular shareholders.
He also then compounded his error by unilaterally announcing that he would no longer be paying dividends - despite it being a fixed-rate bond.

Then when his various fuckups/dodgy dealings were noticed he pretty much vanished.

It's not that he sold the same thing twice - it appears he has sufficent mining power to back all his sales. It's that he went and spent money that should have been paid in dividends on ordering ASICs - which he may well have got away with unnoticed had his ASICs arrived before GLBSE sent out the investors' list.

Obviously it's blatant scamming - both in using other people's funds (the dividend payments) to buy hardware with and then in deciding to just cancel paying further dividends despite continuing to mine. Would guess he's just going to keep stalling until his ASICs arrive then pray he can mine enough BTC to make payments sufficient to avoid/have removed a scammer tag.