About BAKEWELL...

[niko]

Ian Bakewell, after collecting well over $5,000 worth of funds, has abruptly announced the following:

Two months has passed now from the time the GLBSE went down.
I have yet to be given a shareholders list. I doubt one is coming.

I have lurked everything and read until my eyes bleed, I have tried to compile a claims list and waited for Nefario...
Unfortunately it appears no way to properly handle a relisting of the GLBSE asset exists.

I have gone back and forth over this for some time now, this sucks but none the less;
I must inform you that at this time you should probably consider the GLBSE listed asset BAKEWELL a loss.

You all have my apologies.

and then locked the thread. He has not explained at all when and how he will be liquidating the gaming/mining rigs and disbursing the funds and mined coins. He has not responded to my PMs, emails, phone calls, and SMS.

Note that, according to Nefario, Ian has been provided the asset list: http://blog.glbse.com/asset-lists

I don't think this was a scam, given all the time and effort Ian has put into this endeavor. I am therefore not posting in the "scam accusations" board. From what I see, it is simply a case of bad judgement on his part. He may think that this is all a risk-free game, and he might very well be right. I assure him and everyone else, however, that I will devote some of my time to proving him wrong. This coming Tuesday I will be having a chat with the investigators at the Economic Crimes Unit of Edmonton Police. Interestingly, "theft over five thousand" is an indictable offence in Canada. The law is rather broad as to what can be counted towards the total, and specifically includes "intangible assets" as long as they are convertible into fiat.

I certanly hope that Ian will save everyone's time, and come here to inform us about the details of closure and the liquidation process.


 

[Bitcoin Oz]

If he gets the list back he can relist on either cryptostocks or btct without much of a hassle. It seems strange that nefario sent him the list yet he is claiming differently.

I expect to see this happen more in future because there is no way to prove nefario has actually sent a list or not.

Do you believe nefario or Ian ?

[usagi]

Ian Bakewell, after collecting well over $5,000 worth of funds, has abruptly announced the following:

Two months has passed now from the time the GLBSE went down.
I have yet to be given a shareholders list. I doubt one is coming.

I have lurked everything and read until my eyes bleed, I have tried to compile a claims list and waited for Nefario...
Unfortunately it appears no way to properly handle a relisting of the GLBSE asset exists.

I have gone back and forth over this for some time now, this sucks but none the less;
I must inform you that at this time you should probably consider the GLBSE listed asset BAKEWELL a loss.

You all have my apologies.

and then locked the thread. He has not explained at all when and how he will be liquidating the gaming/mining rigs and disbursing the funds and mined coins. He has not responded to my PMs, emails, phone calls, and SMS.

Note that, according to Nefario, Ian has been provided the asset list: http://blog.glbse.com/asset-lists

I don't think this was a scam, given all the time and effort Ian has put into this endeavor. I am therefore not posting in the "scam accusations" board. From what I see, it is simply a case of bad judgement on his part. He may think that this is all a risk-free game, and he might very well be right. I assure him and everyone else, however, that I will devote some of my time to proving him wrong. This coming Tuesday I will be having a chat with the investigators at the Economic Crimes Unit of Edmonton Police. Interestingly, "theft over five thousand" is an indictable offence in Canada. The law is rather broad as to what can be counted towards the total, and specifically includes "intangible assets" as long as they are convertible into fiat.

I certanly hope that Ian will save everyone's time, and come here to inform us about the details of closure and the liquidation process.

It almost certainly was a scam. Ian lied to his investors and misled them regarding his financial position with BAKEWELL and the fact he couldn't get his rigs working for more than a week. During that time he said he was mining, and he wasn't. BMF owns 423 shares of BAKEWELL -- we are one of the largest shareholders, owning 15% of the company IIRC. Ian is extremely hostile towards us. I've put his name on a scammer accusation which mods have said they will ignore. So the only other step is to sue him. He's posted his address and picture so serving him won't be an issue. I'm actually in contact with an Ontario Lawyer right now over an unrelated issue, I'll see if there's something he can do or if there's someone he can recommend.

Never forget that he bought property (computers) in Canadian Dollars and we can go after him and get the money back. The worst that would happen is that we show he owes us money in small claims court (anyone in Ontario can take him to small claims court) and they will put a lien on his car, property, etc. if he doesn't pay. They may even garnishee his wages at work. That slimy fuck won't get away with this.

[niko]

I feel that I have collected enough materials for the Economic Crimes Unit to look at. I will not be sharing further details here publicly, and will not represent others in any way, but I do encourage everyone affected to report their missing funds:

To report any fraud related offences, contact the Edmonton Police Service at 780-423-4567

The country code for Canada is the same as for the U.S., "1".

As for suing him - that is certainly an option, although not high on my priority list right now. Usagi, we will be in touch.

[Deprived]

Ian Bakewell, after collecting well over $5,000 worth of funds, has abruptly announced the following:

Two months has passed now from the time the GLBSE went down.
I have yet to be given a shareholders list. I doubt one is coming.

I have lurked everything and read until my eyes bleed, I have tried to compile a claims list and waited for Nefario...
Unfortunately it appears no way to properly handle a relisting of the GLBSE asset exists.

I have gone back and forth over this for some time now, this sucks but none the less;
I must inform you that at this time you should probably consider the GLBSE listed asset BAKEWELL a loss.

You all have my apologies.

and then locked the thread. He has not explained at all when and how he will be liquidating the gaming/mining rigs and disbursing the funds and mined coins. He has not responded to my PMs, emails, phone calls, and SMS.

Note that, according to Nefario, Ian has been provided the asset list: http://blog.glbse.com/asset-lists

I don't think this was a scam, given all the time and effort Ian has put into this endeavor. I am therefore not posting in the "scam accusations" board. From what I see, it is simply a case of bad judgement on his part. He may think that this is all a risk-free game, and he might very well be right. I assure him and everyone else, however, that I will devote some of my time to proving him wrong. This coming Tuesday I will be having a chat with the investigators at the Economic Crimes Unit of Edmonton Police. Interestingly, "theft over five thousand" is an indictable offence in Canada. The law is rather broad as to what can be counted towards the total, and specifically includes "intangible assets" as long as they are convertible into fiat.

I certanly hope that Ian will save everyone's time, and come here to inform us about the details of closure and the liquidation process.

If he doesn't sell the gear and return it to investors (or hold it in trust for them until he gets a list from nefario) then it most definitely IS a scam.  Like you I doubt very much he started this with the intent to scam - but if he runs off with the funds then it's still just as much a scam as if he'd intended to do that from day one.

Wouldn't surprise me if (as I believe to be the case with a few other mining operators) he'd spent the mined BTC and then suddenly faced having to find it when the list landed in his mail-box.

[niko]

I don't spend time in SL, but those who do might wish to warn investors:

XXX: Tropical Temptations

Your Second Life sensual retreat....Total shares: 2,250,000

Company Info

Company Tagline: Your Second Life sensual retreat....
CEO's RL/SL Name: Ian James Bakewell (SL:Huff Huldschinsky)
CEO's Real Life Location: Edmonton, Alberta, Canada

  
http://slcapex.com/symbol/XXX/profile

[PsychoticBoy]

He got the shareholders list from GLBSE (Nefario aka James McCarthy!

Dec 6 / 2:50pm
Asset lists
by James McCarthy
Most users have had their details sent to issuers for the assets listed below. If this is not the case please send an email to james@glbse.com

This includes users who have not been able to login (lost their 2fa or password) and those who's claims have not been included for whatever reason.

If you sent an email some time ago and not heard back, please try again, updates are coming out quick. Friday is going to be the same. Most issuers should have at this point the vast majority of their shareholders details.

JTME
SILVER
NYAN
TEEK.A
BIF.1YR.LOAN
FDBF
LTC-MINING
KRAKEN
ASIC.COOP
POLY.10.1
MINING
BIF.5-10.MININGBOND
GOLD
GMVT-BOT
BITNODES
BITCOINMINV
M.ETF
BITCOINTORRENTZ
BIB.BVPS
ABM
V.HRL
BIOETHANOL
BTC-BOND
GREEN
CBGB
BBBB
RAREEARTH
IBB
BLUECHIP
PLATINU
GERBITIN.PYRA
THUNDERCM.MIF.SHARES
TEEK.USD
BAKEWELL
BTCS
PAJKA.BOND
RUGATU
PGM
GIGAMINING
BITBOND
YABM
FPGAMINING
PUREMINING
ASICMINER
YARR
COGNITIVE
MOVETO.FUND
TEEK.B
BTC-MINING
NYAN.C
NASTY
DMC
MOORE
BTCMC
CPA
HYDRO.BONDS
ZETA-MINING
MU
BMF
BDT
GSDPT
NYAN.B
SS
JAH
BFLS
PIMP
JLP-BMD
BFLS.RIG
NYAN.A
BMMO
FPGA.CONTRACT
MERGEDMINING
RSM
MMM
BTCSYN
CIUCIU.BOND
SYNERGY
BFLS.FUTURES

[LoweryCBS]

This sentiment is premature.

I am confident in Ian, and while I've written off or devalued several of my holdings due to the GLBSE fiasco, Bakewell is still on my books at 100%.

[Bitcoin Oz]

https://bitcointalk.org/index.php?topic=128090.0  maybe this has something to do with it 

[burnside]

So what if I pay everyone but niko? Does niko still go to the cops?

What if I give niko a piece, but LoweryCBS does not make the list and gets a lawyer...
 what liability would niko have, being how he got a piece of a "theft over five thousand"
   etc etc etc
It is obviously unacceptable that 1% of the people get paid out (me) with 99% losing (everyone else)
What about 99% getting paid while one person is missed?
What if we manage to pay out 95% or maybe only 80% but the most vocal ones so itll be all good...
If we can not compensate everyone, how do we fairly compensate anyone?

---

When I made the most recent post in the BAKEWELL thread, I did so after spending hours trying to figure out some sort of a structure to move on with, having slightly more than a couple handfuls of claims and my personal list, and having nothing from nefario.
Realizing the futility of it, I gave up. ... I hadn't figured out what to do with the assets yet, just figured I would let people know that BAKEWELL is a loss, and lock it so you all don't blow it up and bury my post.
Didn't take long for the "fuck you" mail to come in, so I figured leaving for a few days would be best.

The next day Nefario sent out some lists. I got a half ass incomplete doc, still nothing that would help me move forward.
Looking in my mail now, I have another mail from Nefario, it looks like the other part.

A list from Nefario comes with its own problems, but the situation seems much less hopeless now, hopefully the total will match our last count of shares in the wild, ill review it in the morning.

It's not going to add up to 100%.  This is expected.  Nefario only put people on he list that filed a claim.  (checking a box giving him permission to pass on their email address to you.)

Continuing is not as complicated as you might think.  You pay the people on the list.  You hold the payments for the shares not on the list for a reasonable amount of time.  (eg, until Nefario stops giving out updated lists.)

btct.co and cryptostocks.com both have list import capabilities that make the process very painless if you want/need assistance.  Feel free to PM me any questions you might have about btct.co.

Cheers.
 

[MPOE-PR]

This sentiment is premature.

I am confident in Ian, and while I've written off or devalued several of my holdings due to the GLBSE fiasco, Bakewell is still on my books at 100%.

This sort of nonsense....

Write-offs are not an emotional affair.

[Monster Tent]

This sentiment is premature.

I am confident in Ian, and while I've written off or devalued several of my holdings due to the GLBSE fiasco, Bakewell is still on my books at 100%.

This sort of nonsense....

Write-offs are not an emotional affair.

So the operator gets to keep all the equipment purchased with other peoples money ?

[repentance]

So the operator gets to keep all the equipment purchased with other peoples money ?

A "write-off" is an accounting measure which takes bad debt off your books.  Writing off bad or doubtful debt doesn't affect your right to pursue recovery of that debt legally (writing off debt can have tax implications though, both for the creditor and the debtor) although that decision should also be made on purely economic grounds too (both the financial cost and the investment of time involved in pursuing recovery need to be balanced against the likelihood of recovering the original amount owed plus those costs). 

You could argue that there's some value in pursuing an unenforceable judgement purely to fuck up someone's credit rating, but a business that takes debt so personally probably isn't going to survive long-term.

[MPOE-PR]

So the operator gets to keep all the equipment purchased with other peoples money ?

A "write-off" is an accounting measure which takes bad debt off your books.  Writing off bad or doubtful debt doesn't affect your right to pursue recovery of that debt legally (writing off debt can have tax implications though, both for the creditor and the debtor) although that decision should also be made on purely economic grounds too (both the financial cost and the investment of time involved in pursuing recovery need to be balanced against the likelihood of recovering the original amount owed plus those costs). 

You could argue that there's some value in pursuing an unenforceable judgement purely to fuck up someone's credit rating, but a business that takes debt so personally probably isn't going to survive long-term.

Thanks, I was loath to have to type that.

[niko]

BAKEWELL thread is now unlocked:

Nefario has sent me shareholder information over the last few days.

I have compiled the lists sent to me and compared them against the private sales that were made and the shareholders claims that came in.
As of today all shares are accounted for on the lists Nefario sent me.

I will be pursuing a resisting at https://btct.co/

While I don't think I over-reacted to the suggestion of considering BAKEWELL investment a loss, followed by locking of the thread and several days of silence, I hereby publicly apologize to Ian if he felt wronged in any way by my attitude.  I look forward to moving ahead with this undertaking.