Its Official Pirate Has Defaulted!!

[Littleshop]

Maybe.. But watching over your shoulder for years to come aint a pretty thing.

Edited to add... I did not lend him a thin dime. I am just thinking how i would feel in his place. And that is shitting my pants.

I've known people who've scammed way more than pirate has who didn't go around looking over their shoulder.  Businesses fail every single day owing more than is owed to BS&T users and in most cases nothing of consequence happens to their operators.  

If I was in pirate's shoes and I was planning on winding down operations in a legitimate manner, I would want to deal with the pass-through lenders directly, so I'm kind of surprised by his request because I wasn't expecting any legitimate moves by him at this point.

I think that based on what he wrote he is building a bankruptcy case so that if anyone does come back after assets or claims claw-backs that he had a record of what actions were taken and then he came to a settlement with each person listed for the best he could come up with.  I would expect that if the lists are turned in by Friday (and if they are not oh well, shit out of luck) that those folks will be sent back a counter offer to close out the debt.

I suspect something similar to be the case too.  If he can come to an agreement with his creditors, he can probably avoid total bankruptcy and any obligation to apply future earnings to the debts.

He is not going to pay back at all.  It's over. 

[repentance]

He is not going to pay back at all.  It's over. 

There are advantages for him in going through the legal motions even if there's not a cent available to pay people.  I'm curious about why he's not shutting down GPUMax, though.

[bitlane]

There are advantages for him in going through the legal motions even if there's not a cent available to pay people.  I'm curious about why he's not shutting down GPUMax, though.

Well, there's no sense in being coy now. Might as well implicate his GPUMAX 'Partners' as well....and like I said, connect as many dots as possible and let the official legal investigating team sort it all out.

I will not leave anything to chance anymore.

[bitlane]

Where do the coins miners working at gpumax come from?
If I had a bunch of coins others are very interested in finding, and a service like gpumax...
I would be paying the miners with dirty coins and squirreling away fresh minted ones in safe cold wallets

There is clearly more than enough proof to show how GPUMAX can and most likely IS being used to launder money.

Who in hell pays $1.20 for something they can get for $1.00 elsewhere ?

[Littleshop]

Where do the coins miners working at gpumax come from?
If I had a bunch of coins others are very interested in finding, and a service like gpumax...
I would be paying the miners with dirty coins and squirreling away fresh minted ones in safe cold wallets

I think that is the point of GPUMAX.  And since it makes a profit (though not too much) there is no reason to shut it down.

[Coinoisseur]

He is not going to pay back at all.  It's over. 

There are advantages for him in going through the legal motions even if there's not a cent available to pay people.  I'm curious about why he's not shutting down GPUMax, though.

Exemptions available under Texas bankruptcy:

http://shawnpwilliams.com/2009/03/11/filing-bankruptcy-in-texas-what-can-you-keep/

Miscellaneous: Property of business partnership; alimony and child support; higher education savings plan trust account; liquor licenses and permits

[thebaron]

Yes.

We'll see if he pays though.

I wish there was an emoticon for laughing hysterically. 

:snort:

[thebaron]

How to legally scam people: Form a corporation.

lololol

figures...

[repentance]

Exemptions available under Texas bankruptcy:

http://shawnpwilliams.com/2009/03/11/filing-bankruptcy-in-texas-what-can-you-keep/

Miscellaneous: Property of business partnership; alimony and child support; higher education savings plan trust account; liquor licenses and permits

Interesting.  This is why it's so important to know exactly what applies in the jurisdiction in question.  How quaint that liquor licences and permits are exempted - they're a valuable asset which would be sold to meet claims elsewhere.

Are either BS&T or GPUMax incorporated?

[thebaron]

Edited to add... I did not lend him a thin dime. I am just thinking how i would feel in his place. And that is shitting my pants.

I doubt it. He probably left the country after that Vegas meetup. He seems to be purposefully leaving a gaping security hole in his identity when he connects to IRC, that of an IP address located in Texas. If he's smart, all anyone will ever find of him in there is that he's leased an apartment or office to use as a decoy through a dummy corporation or fake ID, and in there is a modem connected to a VPN routing device.

[Coinoisseur]

Exemptions available under Texas bankruptcy:

http://shawnpwilliams.com/2009/03/11/filing-bankruptcy-in-texas-what-can-you-keep/

Miscellaneous: Property of business partnership; alimony and child support; higher education savings plan trust account; liquor licenses and permits

Interesting.  This is why it's so important to know exactly what applies in the jurisdiction in question.  How quaint that liquor licences and permits are exempted - they're a valuable asset which would be sold to meet claims elsewhere.

Are either BS&T or GPUMax incorporated?

http://www.corporationwiki.com/Unknown/Unknown/gpumax-technologies-llc/101278778.aspx

[thebaron]

Exemptions available under Texas bankruptcy:

http://shawnpwilliams.com/2009/03/11/filing-bankruptcy-in-texas-what-can-you-keep/

Miscellaneous: Property of business partnership; alimony and child support; higher education savings plan trust account; liquor licenses and permits

Interesting.  This is why it's so important to know exactly what applies in the jurisdiction in question.  How quaint that liquor licences and permits are exempted - they're a valuable asset which would be sold to meet claims elsewhere.

Are either BS&T or GPUMax incorporated?

http://www.corporationwiki.com/Unknown/Unknown/gpumax-technologies-llc/101278778.aspx

It should be noted that identities are not verified when filing incorporation documents. Be mindful that y'all are possibly being led on a wild goose chase.

[Coinoisseur]

Not giving the information for purposes of identification. Pirateat40 has a pretty well established connection to GPUMax, GPUMax is a registered LLC. Based on Texas bankruptcy rules the risk of any damage flowing over to GPUMax is minimal. Though, there is that pesky issue of mixing BTC with Pirate Bank.

[repentance]

I doubt it. He probably left the country after that Vegas meetup. He seems to be purposefully leaving a gaping security hole in his identity when he connects to IRC, that of an IP address located in Texas. If he's smart, all anyone will ever find of him in there is that he's leased an apartment or office to use as a decoy through a dummy corporation or fake ID, and in there is a modem connected to a VPN routing device.

If he's truly smart he appropriated the identity of someone else and leaving his IP exposed when connecting to IRC is just a means of convincing people that he's the person whose identity he's appropriated.  If he's not actually Trendon Shavers (who does seem to exist), people don't know who to start looking for or where.

[bitlane]

I hate to cross post, but this seems applicable here as well....

Maybe he just plans for his lawyer to send us a nice letter explaining that there is no money and for us to contact them with our SSN so they can inform the IRS of the capital loss we have experienced.

Well, he better have a good legal team that understands the implications of fraud on a global scale. This isn't a matter of 'Scam Globally, Think Locally'....

What constitutes as a failed business in Texas with limited liabilities does not translate the same when crossing international borders.

United States Federal or State Law is a bit different than International. The USA does not dictate world law.

[thebaron]

I doubt it. He probably left the country after that Vegas meetup. He seems to be purposefully leaving a gaping security hole in his identity when he connects to IRC, that of an IP address located in Texas. If he's smart, all anyone will ever find of him in there is that he's leased an apartment or office to use as a decoy through a dummy corporation or fake ID, and in there is a modem connected to a VPN routing device.

If he's truly smart he appropriated the identity of someone else and leaving his IP exposed when connecting to IRC is just a means of convincing people that he's the person whose identity he's appropriated.  If he's not actually Trendon Shavers (who does seem to exist), people don't know who to start looking for or where.

The first thing I would do if I had just lost a shitload of money through this person is see if this Trendon guy existed at all before 2 years ago. With that amount of time, it's completely possible to build up an identity searchable through Google, people search type services, and credit bureaus.

[bitlane]

I doubt it. He probably left the country after that Vegas meetup. He seems to be purposefully leaving a gaping security hole in his identity when he connects to IRC, that of an IP address located in Texas. If he's smart, all anyone will ever find of him in there is that he's leased an apartment or office to use as a decoy through a dummy corporation or fake ID, and in there is a modem connected to a VPN routing device.

If he's truly smart he appropriated the identity of someone else and leaving his IP exposed when connecting to IRC is just a means of convincing people that he's the person whose identity he's appropriated.  If he's not actually Trendon Shavers (who does seem to exist), people don't know who to start looking for or where.

The first thing I would do if I had just lost a shitload of money through this person is see if this Trendon guy existed at all before 2 years ago. With that amount of time, it's completely possible to build up an identity searchable through Google, people search type services, and credit bureaus.

Well, it actually pretty clear. Using the Drop Box accounts......

He is either the Gay Cyclist or the 2nd Husband of the 5-year-his-senior 'Bar Star' with twin step kids......or 'pirate' is 2 people simultaneously.

Both are known Forex guys (Greg, being an analyst and Trendon being listed as a trader on ForexStreet)...so 2 scammers sharing the Pirate identity is possible also.

Like I said, just throw all of the SHIT into a bucket and let someone else sort it out.

[sadpandatech]

I doubt it. He probably left the country after that Vegas meetup. He seems to be purposefully leaving a gaping security hole in his identity when he connects to IRC, that of an IP address located in Texas. If he's smart, all anyone will ever find of him in there is that he's leased an apartment or office to use as a decoy through a dummy corporation or fake ID, and in there is a modem connected to a VPN routing device.

If he's truly smart he appropriated the identity of someone else and leaving his IP exposed when connecting to IRC is just a means of convincing people that he's the person whose identity he's appropriated.  If he's not actually Trendon Shavers (who does seem to exist), people don't know who to start looking for or where.

The first thing I would do if I had just lost a shitload of money through this person is see if this Trendon guy existed at all before 2 years ago. With that amount of time, it's completely possible to build up an identity searchable through Google, people search type services, and credit bureaus.

Will you 2 serisouly fukcing stop with this shit.

Pirateat40 is MOTHERFUGGIN TRENDON T MOTHERFUGGIN SHAVERS!!!

[bitlane]

Will you 2 serisouly fukcing stop with this shit.

Pirateat40 is MOTHERFUGGIN TRENDON T MOTHERFUGGIN SHAVERS!!!

So....

the 2nd Husband of the 5-year-his-senior 'Bar Star' with twin step kids
(I was trying to be open minded....for once. I never thought it was GregK)

[Raize]

Web of Trust, rofl. Everyman for himself it seems, Goat smelled the "lawyer up" vibe from Pirate right away.

Edit: So he stalls for a week and then gives his core accounts 48 hours to disclose all sub-accounts. Pirateat40 needs a Scammer tag on this forum and internet blackballed in general.

Perhaps even worse for pirate is that he acknowledged the debt and paid a few of the smaller lenders. That's a HUGE no-no if you are expecting a lawsuit, that's the first thing any lawyer will tell you. Pirate hasn't sought legal counsel at all would be my guess, he's doing really stupid legal moves.

IANAL, but I've had to work with tons of them.

The first thing I would do if I had just lost a shitload of money through this person is see if this Trendon guy existed at all before 2 years ago.

Some of us have the ability to do exactly that, but we didn't invest with him, so we really have no incentive to.