Quote from: Eisenhower34 on September 29, 2013, 08:31:30 AM

today I got this pm:

Quote from: dexX7 on September 29, 2013, 07:37:05 AM

Hi there,

there is somewhat soft evidence that Alberto Armandi is still in the game and behind Labcoin - a mining stock traded on BTCT.

I stumbled upon your thread in which you were looking for this guy. So I'd like to ask: how did the story end?

Thanks!

Reference:
https://btct.co/security/LABCOIN
http://www.reddit.com/r/BitcoinStocks/comments/1ncdf1/labcoin_outed_as_a_scam/

I will look into this matter.

Quote from: Labcoin_PR on September 29, 2013, 09:46:07 AM

Where can we purchase this bond?

You can't.

Quote from: Puppet on September 30, 2013, 12:04:13 PM

Quote from: TradeFortress on September 16, 2013, 10:34:35 AM

Nothing will happen. Unfortunately this is the truth.

Since its clear this is going nowhere and Alberto isnt going to pay, allow me to suggest duped US investors another way. Under the securities act of 1933, you are very likely able to bring civil action against Meni Rosentahl

Quote

The SEC may not bring actions on behalf of individual investors, but the Securities Act allows individual investors to bring civil actions under several provisions:

http://www.law.cornell.edu/wex/securities_act_of_1933

Take note especially of sections 11, 12 and 15:

One quote from section 15

Quote

(b) Prosecution of persons who aid and abet violations
For purposes of any action brought by the Commission under subparagraph (b) or (d) of section 77t of this title, any person that knowingly or recklessly provides substantial assistance to another person in violation of a provision of this subchapter, or of any rule or regulation issued under this subchapter, shall be deemed to be in violation of such provision to the same extent as the person to whom such assistance is provided.

http://www.law.cornell.edu/uscode/text/15/77o

Now you may or may not believe Meni knew or should have known this was a scam, but that may not even be material; Meni knew or should have known he was soliciting or aiding in the solicitation of funds for an unregistered security from (among others) US investors. That is a clear violation of the security act by itself, even if bitdaytrade were a legitimate business, or Meni could reasonably have assumed this was the case.

That lawsuit wouldn't get anywhere if they spell my name wrong.

Seriously though, I doubt anyone would follow your recommendation, which is clearly nothing more than trying to find a scapegoat.

Quote from: Puppet on September 30, 2013, 12:04:13 PM

IANAL, so obviously anyone wanting to go down this road should talk to his lawyer first. I also dont have an opinion on whether it would be "fair" or "moral" to meni to take this approach, thats entirely up to duped investors and possibly courts to decide. Im merely pointing out an option that I suspect is more likely to yield results than waiting for Alberto, and that if nothing else, may motivate Meni and future "IPO managers" to take their responsibility in vouching for potential scams a bit more seriously. What you do with it, is up to you.

I expressed my personal trust in Alberto and clarified beyond any reasonable doubt that everyone should come up with their own trust. I did not imply anyone should trust him based on my word (which is what "vouching" means).

When things started I personally lent 2000 BTC to Alberto, both because I believed he was legitimate and because noblesse oblige. When things exploded, I lent him 2000 BTC more without any expectation of ROI, merely because I thought it would aid in resolving the process (and still believing I would eventually get them back). I am still spending my money and time for the chance (however slim) for a positive resolution. If that's not taking my responsibility seriously, I don't know what is. (EDIT: Actually, in the beginning I lent 1000 BTC and accepted debt of another 1000 BTC as payment)

As I explained in depth previously, agreeing to help Alberto was the worst mistake I've ever made, which has caused me enormous financial and mental damage. But I would rather be productive than repent and defend myself for the rest of my life. And as my track record clearly indicates, me being productive is for the benefit of the entire Bitcoin economy and community.