Quote from: DeathAndTaxes on April 14, 2013, 05:11:29 PM

Quote from: gfoot on April 14, 2013, 05:02:54 PM

To be clear, I don't know for sure about the Polish bank - the transfer I was looking at was sent after he'd switched the details on the website to point to his personal bank in Germany. So it's possible that until that point he was using a business account. I don't know exactly when he made the switch, it sounds like it was only a few days ago.

Yes everything indicates the Polish bank was in the company name but it doesn't matter when he switched or why. When his company bank account got shut down he should have stopped accepting deposits. Period. By using his personal account to accept funds in the company name he pierced the corporate veil. Hopefully this is a lesson to those getting started in business.

As bad as things got for bitcoin24 if he stopped trading when he realized a flaw in his trading engine and stopped accepting deposits when his bank account had gotten frozen the issue would be far less severe right now. By continuing to operate with an engine that allowed double payments and rerouting massive flows of cash into his personal bank account he made a bad situation much worse. Now it is unlikely everything will be resolved quickly and without cost. Any cost and losses are going to fall on him personally so I hope he is independently wealthy.

THIS