For about a week now I've been debating whether a tag is needed for user
Etranger since he made a rather large loan request. The loan request itself isn't that strange (other the the large sum; $150,000,) but what is strange is claim of how he intends to spend it: He wants to use the money to research and plan
a $40 million mining operation. He has no collateral for the $150k, and no down payment for the $40 million.
Okay, dreaming big, and a fantasy of generous lenders who don't require security... What's the problem?
The issue I have written in his own words:
• Creation of a company whose purpose is managing the crypto farm and investment activities – $15,000
• Creation of company's identity – $20,000 (part of presentation of a company)
• Hiring a specialist or company as a legal advisor – $18,000 ($1,500 per month)
• Legal support for the creation and operation of the company – $10,000 (payment which is required for legal actions on the company`s creation stage)
• Business trips for that members of our team who are currently not in Ukraine to countries where the crypto farm locations are situated – $8,000 (2 members, $4,000 for each. Countries: Switzerland, Norway and Finland)
• Business meetings with investment funds and private investors - $6,000 (2 members, $3,000 for each. This category includes tickets, accomodation and local transportation, not cavier in reastaurants. Note that there are 4 trips planning)
• Attending leading crypto conferences - $4,000
• Legal and technical inspections of the locations (also due dilligence included) – $35,000-40,000
• Payment for services provided by contractors:
1. Consultations with electricity suppliers - $2,500
2. Consultations and development of the technical specifications for the crypto farm location - $3,500
3. Brokerage services for location search (engagement fee) - $10,000 (to the particular broker, location presented by whom will be chosen)
4. Consultations on spot electricity trading and the FRR market - $4,000
5. Development of a Heat Recapture Technology plan (possibility of selling the heat) - $5,000 (individual plan)
6. Consultations and work with government representatives regarding permits for the crypto farm's operations - $4,000
The clarification of these numbers are available for those who will engage in a private conversation with us, as long as it is NDA information.
The first 4 bullet points are all the same thing, just worded differently, and sum to $63k.
The following three bullet points are trips for "team members" and sum to $20k.
Another $40k for vague "legal inspections" of real estate.
The remaining bullet points for a bunch of consultations and sum to $29k.
Does that seem legit to anyone here? It occurred to me that this isn't about a dream of starting a $40 million mining operation. Who in there right mind thinks they'll be given a $40 million loan without a down payment or any assets to secure the loan? The numbers above are literally pulled out of thin air, they are the fantasy. Etranger intends to take the $150k, go to a crypton conference to snap some photos to make it look like he's working diligently for the investor's money, go on some lavish trips to meet with "investors" and "consultants," and the whole time living large off the investor's money. Once he runs out, and informs the investor that no one will back the idea with $40 million, and he just needs more time and another $100k to make it happen.
This is my theory, and this is why I feel a tag is justified. Change my mind?