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If what you are saying is right, then the guy managed to tranform stupidity into a criminal offence!!!
I do not know more about this case than any random reader of this thread. However, the transition from incompetence to criminality seems to be common in similar situations. When debts pile up and plans fail, a manager often chooses to risk some irregular workarounds (like mislabeling losses as long-term investments, using funds that he should not use, etc.) rather than admitting his incompetence (and perhaps losing his job). When those workarounds too fail, he would be forced into even bigger violations of the rules to "fix" them. At some point he recognizes that he has become a criminal, and then he will start planning and acting like one. The CEOs of Enron, Worldcom, and even Madoff seem to have slipped down this path. Another way a manager may slip into criminality is by paying himself and/or friends an exaggerated salary at a time when the company has more debts than capital. That may seem a negligible risk at the time, but if the company goes bankrupt such generosity will be noted and it may get him charged with fraudulent management. About those clients who bought bitcoins from Danny that were never delivered, for example: it may be (just an hypothesis) that Danny used that money to pay urgent debts, hoping that he would soon get some revenue somehow that would allow him to buy the bitcoins and honor the deal. Or perhaps the deals were struck in September, he did not buy the coins immediately, and then found he could not do it after the price increased 5--10 times. Agree. |
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I was one of the very early supporters of Danny and Neo Bee.
Even though I was very angry at Danny when I learned what he did (by talking to some of his employees), and I might have even written a nasty post in my anger during the first couple of days (I cannot recall and I do not even want to go back and check) I decided to remain silent for several days in order to calm down, and think rationally about the Neo Bee events so as to come to some conclusion.
I do not believe that the whole thing started as a scam, fraud etc.
I believe Danny was honest and invested a lot of money in Cyprus. He would not have invested so much money and, according to reliable sources, even pay 35K for the tax of his car a couple of days before he disappeared + prepay a full year's rents for his Nicosia house in which he moved in in 1-2 months ago.
Something else must have happened that we do not know such as:
1. He did lose coins in Mt.Cox and Bitfunder and kept it a secret.
2. For whatever reason he got involved with the underworld and when they realized that he was a holder of a lot of bitcoins he received threats.
3. He decided overnight that he'll cut his losses/investments.
4. Mismanagement of funds due to inexperience, sudden loss of coins for whatever reason, panicking and running away.
I am 100% sure that he initially was very honest and didn't have the intention to run away with people's money and coins.
Since the last press reports on April 3rd, the Neo Bee issue has never been raised again by any one in Cyprus and people have already forgotten it. It has not been mentioned a single time any where in the media, press or wherever. The reason for this is because no one from the public has lost any money. It was very wise and very responsible from Danny and/or his managers not to open the branch for business and not do any transactions with the public until everything was 100% safe. I credit them for this.
The only people that have been left with a pain, and some of them lost a lot of money, are his unpaid employees and creditors including PVS.
The honest thing for him to do is to pay his outstanding debts to his employees and his creditors and I am sure that he and his family, and we, can put this behind us and carry on with our lives.
Danny if you are reading me I am sure you will understand and appreciate what I am saying. I apologise for not responding to your messages but I saw them AFTER you disappeared. I was never a sophisticated user of the forum and didn't notice them.
As for his shareholders, including myself who bought some shares at Havelock for a couple of thousand $s, well guys I am very sorry about our losses but at the end of the day we invested in a BTC start-up. 95% of start ups in such a new and risky area fail. Yes it is painful, we lost money, but we must try to forget it and carry on with our lives as well. If we all stay in bitcoin, a bright future with handsome dividends awaits all of us.
All the best.
Skoutz, since you currently live in Cyprus (please correct me if I am wrong ), I would like to ask you; how has this affected the view of BTC in the public there (average Cypriot)? Do they see BTC as a scum infested useless form of money or do they realize that this is nothing more one failed business and still see the merits of this new technology? I am asking because I am originated from Cyprus (therefore I am really interested in the place) and I think that this was/is an opportunity to lead the way in something good (with the uni involvement, the financial services background and all). So I guess the final question is; is BTC a joke in Cyprus now or not? BR Stelios p.s. I fully agree with the views you posted above, I also was one of the very early supporters of Danny and Neo Bee and I do not think this was a scum from the beginning (and I did not loose so much to be in denial ;p). What annoys me the most though, is that Danny disappeared (Dikeonontas olous aftous pou emeis legame trols) without giving any information on what happened!!! If you (through personal contact) have any additional information I would like to ask you to share it with the group. I think everybody here (initial supporter or not) has the right to find out what happen + It would make a really interesting thread heh. Hi Stelios The Neo Bee saga has made some damage to BTC and the ignorant people confuse BTC with Neo Bee. However, in view of the good work done by the University of Nicosia, I believe the BTC name will be restored in the near future. There are various rumors as to the kind of criminal offences charged by the police but it is more gossip than actual facts. I guess in the next couple of days more information might be brought to light. Apart from the news last night about the arrest warrant people do not actually talk about it, it is more or less forgotten because the "public" has not been involved and the masses did not lose any money or BTC. I still believe that this was not a scam from the beginning but the way Danny handled the whole issue it developed into criminal. |
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Locals were burned too. Employees, creditors and a couple of investors who bought coins from Danny personally (not from Neo Bee/branch) or share from Havelock.
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I was one of the very early supporters of Danny and Neo Bee.
Even though I was very angry at Danny when I learned what he did (by talking to some of his employees), and I might have even written a nasty post in my anger during the first couple of days (I cannot recall and I do not even want to go back and check) I decided to remain silent for several days in order to calm down, and think rationally about the Neo Bee events so as to come to some conclusion.
I do not believe that the whole thing started as a scam, fraud etc.
I believe Danny was honest and invested a lot of money in Cyprus. He would not have invested so much money and, according to reliable sources, even pay 35K for the tax of his car a couple of days before he disappeared + prepay a full year's rents for his Nicosia house in which he moved in in 1-2 months ago.
Something else must have happened that we do not know such as:
1. He did lose coins in Mt.Cox and Bitfunder and kept it a secret.
2. For whatever reason he got involved with the underworld and when they realized that he was a holder of a lot of bitcoins he received threats.
3. He decided overnight that he'll cut his losses/investments.
4. Mismanagement of funds due to inexperience, sudden loss of coins for whatever reason, panicking and running away.
I am 100% sure that he initially was very honest and didn't have the intention to run away with people's money and coins.
Since the last press reports on April 3rd, the Neo Bee issue has never been raised again by any one in Cyprus and people have already forgotten it. It has not been mentioned a single time any where in the media, press or wherever. The reason for this is because no one from the public has lost any money. It was very wise and very responsible from Danny and/or his managers not to open the branch for business and not do any transactions with the public until everything was 100% safe. I credit them for this.
The only people that have been left with a pain, and some of them lost a lot of money, are his unpaid employees and creditors including PVS.
The honest thing for him to do is to pay his outstanding debts to his employees and his creditors and I am sure that he and his family, and we, can put this behind us and carry on with our lives.
Danny if you are reading me I am sure you will understand and appreciate what I am saying. I apologise for not responding to your messages but I saw them AFTER you disappeared. I was never a sophisticated user of the forum and didn't notice them.
As for his shareholders, including myself who bought some shares at Havelock for a couple of thousand $s, well guys I am very sorry about our losses but at the end of the day we invested in a BTC start-up. 95% of start ups in such a new and risky area fail. Yes it is painful, we lost money, but we must try to forget it and carry on with our lives as well. If we all stay in bitcoin, a bright future with handsome dividends awaits all of us.
All the best.
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TAT how many shares of NEO do you own and how many have sold?
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I am still wounding why no one has questioned why it was not Danny who fronted the TV interview seeing as though he has been the main front face of neo bee.
I can answer that he is not the Danny Brewster that died. Prior to Cyprus he lived in Doncastor, UK and his family are from Manton UK. The Mr Brewster I knew prior to Neo Bee makes it very hard to believe that he came up with this money to begin with as he went to Cyprus with a suitcase.
I am just shocked that you, as investors, have legit questions that are being left unanswered. People are justifying this by saying it should not answer to internet 'trolls'. Well what about answering to those who have money invested? Answering the claims that have been made, why the sudden silence? Would you not think that he would come out deny these things if he had nothing to hide?
No, he has media out the front of his house and is going back home with his tail between his legs because his company 'is not doing as well as he thought it would.
Final question, has anyone picked up the phone or gone into the office and spoken with Danny himself and asked what is going on. Why have you not reported to us, your shareholders? Can you please explain as you share holders are asking questions.
I am guessing no. Most likely he is not there. He and his fiancé have gone on social media silence while they get ready to fly out this coming Monday.
Do you know where he is? |
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The chairman of the stock exchange said they lack knowledge of bitcoin and will welcome any help from Neo and the university.
Source? My own ears. I was there, I attended the conference at the university  Check the presentation of the University's CFO here http://www.paideia-news.com/content/files/62452025.pdfEspecially page 13 where he talks about the proposal of the University that has been made to the Cyprus Government to make Cyprus the center of the bitcoin world! A real visionary!! Here is a translation of page 13 (you can translate : PROPOSAL TO THE CYPRUS GOVERNMENT FOR CONVERTING CYPRUS INTO A WORLDWIDE HUB FOR BITCOIN TRADING & PROCESSING We believe that Bitcoin offers a significant opportunity for innovation and development: we would like to see Cyprus using its powerful human and academic capitals to become a pioneer in this regard.
All that the state has to do is to create a regulatory framework for Bitcoin businesses in Cyprus: this will eliminate/reduce the risks associated with digital currencies such as counterparty risk.
We can create an entirely new industry in Cyprus based on Bitcoin and digital currencies.
There will be major foreign investments in the economy, large annual income from its trading in the official Cyprus stock exchange and creation of new jobs.
Zero investment from the government.
The opportunity will not be there forever . Already other countries make similar moves e.g. Singapore , Switzerland , Denmark. |
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The chairman of the stock exchange said they lack knowledge of bitcoin and will welcome any help from Neo and the university.
Source? My own ears. I was there, I attended the conference at the university |
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The chairman of the stock exchange said they lack knowledge of bitcoin and will welcome any help from Neo and the university.
If they manage to do this, Cyprus and Neo will become the center of the bitcoin world!
Perhaps someone from Neo or the university should enlighten us.
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I personally think the company has a future, I'm a British Cypriot and spent many childhood holidays in Cyprus and even lived in Cyprus for 2 years. Cypriots for one aren't stupid, we're looking at a population with the highest higher education rate in the whole of Europe.
The private university of Nicosia that also has several colleges and other universities (one of which I attended) across the island have a large amount of students from African countries because Cyprus is the closets place Africans can go to for a European education (also note that thier universities and colleges are associated with British universities and offering British qualifications). And it was these very students that were pestering the university to accept Bitcoin. The university has already accepted its first payment for a course and Neo-Bee processed this payment. Were talking about courses that cost thousands of pounds and the 1 or 2% commission fee taking for these courses are going to be a large part of the turn over of Neo-Bee for years to come. As we know Bitcoin is a more stable currency than many African fiat currency and Bitcoin is corruption free as well as a store of value so the proliferation of Bitcoin in Africa is only limited by the governments crackdown on it.
Edit: The Cypriot government has been lobbied by the University of Nicosia and I see no legal problems with Bitcoin in Cyprus
Even though I left Cyprus more than 10 years ago, I can validate Petes view. I live in Cyprus and can confirm what it has been said. The fact that the University of Nicosia is in full support makes the whole society much more comfortable and positive, in spite of all those negative news that are spiralling from around the world. University of Cyprus CFO said on Keiser Report they are working on opening the first Bitcoin stock exchange in the world (like the NY stock exchange or NASDAQ) to turn Cyprus into a world Bitcoin financial hub. Any connection to that? I know they are working on it. I attended a conference at the university organised by the ruling political party. The university and the Cyprus stock exchange were very positive about this. Neo officials said thT they will give any assistance needed. I do not know further details. |
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I personally think the company has a future, I'm a British Cypriot and spent many childhood holidays in Cyprus and even lived in Cyprus for 2 years. Cypriots for one aren't stupid, we're looking at a population with the highest higher education rate in the whole of Europe.
The private university of Nicosia that also has several colleges and other universities (one of which I attended) across the island have a large amount of students from African countries because Cyprus is the closets place Africans can go to for a European education (also note that thier universities and colleges are associated with British universities and offering British qualifications). And it was these very students that were pestering the university to accept Bitcoin. The university has already accepted its first payment for a course and Neo-Bee processed this payment. Were talking about courses that cost thousands of pounds and the 1 or 2% commission fee taking for these courses are going to be a large part of the turn over of Neo-Bee for years to come. As we know Bitcoin is a more stable currency than many African fiat currency and Bitcoin is corruption free as well as a store of value so the proliferation of Bitcoin in Africa is only limited by the governments crackdown on it.
Edit: The Cypriot government has been lobbied by the University of Nicosia and I see no legal problems with Bitcoin in Cyprus
Even though I left Cyprus more than 10 years ago, I can validate Petes view. I live in Cyprus and can confirm what it has been said. The fact that the University of Nicosia is in full support makes the whole society much more comfortable and positive, in spite of all those negative news that are spiralling from around the world. |
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Neapolis, owned by a bankrupt hotelier (Leptos), is not a serious University, not really classed as a university in the minds of Cypriots. Unlikely to be in a position to attract Satoshi |
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P.S. For a company that would launch a "payment network to compete the current credit cards and money transmission businesses", your website is not that impressive (to say it very very politely)! You have to make a significant upgrade.
This is one of the main reasons why I decided not to invest. I do not have much confidence in a company who are trying to build a revolutionary new payment system based on cryptocurrency when their website is not only broken, but also looks like it came straight out of 1995. It makes me question the level of technical expertise they have working for them. It was bad decision not to invest if you ask me. The website is functional, though, perhaps not fitting a western esthetic. It was created by Cypriot webdesign company. I think it was part of Neo's plan to hire and use local workforce only. Keep in mind this website is meant for Cypriots who Danny said are not very internet savvy. You have to compare the design of this website with other Cypriotic websites for an apples to apples comparison. I'm pretty sure this website is best of breed when it comes to Cypriot websites and that's what matters. Be sure website design will improve once Neo expands beyond Cyprus. I confirm the website is good for Cypriot standards. |
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Hmm, I am beginning to dislike this Havelock business. Perhaps I should have researched a bit about them before sending coins to them last week.
It's not even morning in Panama. The server will have gone down overnight and they'll need to restart it in a couple of hours when they wake up, or maybe they're finally updating their website. No need to panic quite yet.Very encouraging. This is what happens when we invest in shitty exchanges. |
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An official reply from the company would be the most professional way to handle it.
This is what happens in IPOs of serious companies. The company with an official statement informs its shareholders how many shares were issued, how much was raised, how many shares remained unsold, what it plans to do with unsold shares, dividend policy etc.
I am sure LMB Holdings and Danny will do so.
Let's wait and see.
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24/02/2014 - post-IPVO shares counting Direct Shares held on LMB Holdings - 2 398 963 PT Shares held on Havelock - 2 583 384 IPVO SUM -> 4 982 347 shares sold, congratulations <<< this number should stay the same from today until another offering1,100,000(Private Tranche)+500,000(Pre-IPVO Offering)+8,000,000(Public Offering) = 9 600 000 issued shares so we should have 4 617 653 unsold shares, the site was referring something about 2 771 864 yesterday, idk why, maybe someone could explain I hope we will not see any shady transfers of remaining unsold shares to Havelock without prior announcement, because it would be very obvious. The website has this message: Buy Shares UNSOLD SHARES WILL BE TAKEN OFF THE MARKET ON FEBRUARY 23, 2014. The Buy Shares feature and display totals are not fully displayed currently. A Buy order locks the shares, making them temporarily unavailable for purchase. If the order goes unfunded (the buyer never sends the coin payment), then they are released again. We are working on optimizing the process and how it displays, so for the time being, please note that the Shares Remaining total may be inaccurate. There are still shares available for sale.I hope it is an oversight and the unsold shares are removed from the market. |
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I understand Neo will be taking professional photos and videos during Monday's inauguration and posting them here and on their new website.
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I just passed by the building (I live in the area).
The flagship branch is almost complete, the company's logo has been placed horizontally across the entire face of the 7 Stars Tower (the most prestigious/luxurious building of the area and one of the best in Nicosia) and outside the branch. There are designers and workers still working in the branch and in the outside area.
Guys it is AMAZING!
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Even a video will be unfair to the art created there. I trust the Neo people will cover the grand opening on Monday with a professional video recording and post it here and on their (new) website. It's a pity that you cannot be here as history will be created on Monday: the 1st ever Bitcoin Business opens its doors to the general public! That's one small step for a Bitcoin start-up, a Giant Leap for Bitcoin Mankind |
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I have passed by the Branch this morning.
It is still unfinished, as there are a lot of workers doing the completion works, but I can confirm that the photos uploaded UNDERVALUE SIGNIFICANTLY the quality of the work done.
The actual work is MUCH BETTER than the images conveyed by the photos.
Great times ahead.
Well done Danny and team.
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