Usagi: falsifying NAVs, manipulating share prices and misleading investors.

[EskimoBob]

Hello moderators of this subforum: What other proof do you need to end this saga for good and label usagi one way or the another.

[BCB]

Hello Eskimo bob. Good to hear from you as you name has come up quite frequently. So far usgai has been accused of and evidence has been provided that he:

Misvalued assets
Lied about assets owned
Tried to use company assets to pay off a personal loan
Deleted material evidence supporting this activity to cover up this activity
And refuses to supply specific facts to support his claims and instead spAms the threads

1.  Did you lose any funds as as result of usgai misrepresenting his various businesses and assets?
2. What facts can you provide that may support or refute these claims

Thanks.

[Deprived]

Actually it was far worse than that (was looking in this thread for some posts about a different issue I'm PMing BCB about).

Usagi basically said 'If another of CPA's debtors defaults then CPA will have nothing left'

This, perhaps? https://bitcointalk.org/index.php?topic=85444.msg1175547#msg1175547
I actually have an archived copy of the full comment by usagi that quote is from, if anyone's interested. Edit: Someone else has quoted the whole thing here (Also, notice how usagi's renamed the thread to have the very informative and easy to locate title of "post".)

Then a few days later usagi actually boasted about how some investors had sold CPA shares very cheaply and he'd bought them - and made some derogatory remark about people panicking for no reason and that things weren't as bad as they might look: totally ignoring that they'd only panicked becase HE said there was good reason to.  I never raised this as a scam issue - had just treated is as one of the emo sessions usagi has every few days.

Not sure where you might find that though, sorry.

Yeah looks very familiar.  I remember being amazed at part of it - the following sentence:

"it's basically come down to, if the last 2 people I invested money with can't pay back, there will be no way to hide or avoid the losses, and CPA's net value will go to zero."

What amazed me was the admission that he'd happily hide losses if he could - he talks about "there will be no way to hide or avoid the losses" as though hiding losses is a perfectly acceptable way to do things.  But then comes here and talks about transparency.  

There was also this:

https://bitcointalk.org/index.php?topic=102798.0

It's an accusation that usagi failed to pay for services requested.  Post 7 (they're PMs sent by usagi) is of relevance:

"Hi!

Unfortunately Pirate's BTCS&T just blew up. As an insurance company we're launching all zigs. I have to stop this. I am not going to be able to use any of the designs, and we might go under.

Sorry o_o it was a bad time for us to get into the insurance business, right before pirate collapsed :>"

So at that point there was a PM from usagi quoted in which usagi said CPA might go under - small wonder then if some investors panicked.  As an amusing aside, usagi's debt there was paid by Matthew N Wright - who later scammed loads of people (including usagi) with the pirate bet.

Note also this from the last post in the thread :

"I am not going to be able to use any of the designs, and we might go under." - claims on August 18th CPA may go under (or is it some other insurance company he runs?)

But on Aug 23rd says to CPA investors:

"In the event of a full pirate default, NYAN.C will loose out, and CPA holds NYAN which holds NYAN.C. Then we have contracts on the outside as well. All in all CPA will remain very solvent, it may lose 20% of it's value in a full default. But we stands just as ready to gain 20% if pirate doesn't default." - it will remain very solvent.

Confused yet?  You will be, because usagi was telling Nyan investors a few days later :

In fact if you believe Pirate will pay back, like we do, this is a nice time
to start accumulating NYAN.C.

So someone he owed money to was told they couldn't be paid because of pirate - yet a week or so later he's telling nyan he believes pirate will repay (so, surely he should have been telling his creditor that payment might be a bit late whilst he waiting for pirate to process withdrawals - not that CPA may go bust).  Was there ANYONE who became MORE confident pirate would pay as time passed?  

Telling ANYONE that your company may go bust (especially if you don't believe it will) is shockingly bad - let alone someone you're trying to stiff on a debt who will then go and post it in scammer forum.

If you read the "post" thread you'll find other amusing stuff.  Like someone pointing out that usagi's spreadsheet showed over a 40% exposure to pirate when the contract for CPA didn't allow more than 20%.  Usagi's response?  That the spreadsheet hand't been updated and that exposure was only 20-25%.  Followed, of course, a few days later by an announcement that losses would be 40%+ at a minimum (and more as some debtors were going to default).  Was the spreadsheet really out of date - or was it accurately reflecting pirate exposure above the level it was allowed to have by contract?  A week AFTER pirate's default became apparent would usagi REALLY be making posts about the level of exposure his company had to pirate without updating the spreadsheet that calculated it?  Wouldn't you think that would rather obviously be a piece of information investors would like to have SOME degree of relevance given the situation and which you'd keep up to date?

etc etc etc

[EskimoBob]

Hello Eskimo bob. Good to hear from you as you name has come up quite frequently. So far usgai has been accused of and evidence has been provided that he:

Misvalued assets
Lied about assets owned
Tried to use company assets to pay off a personal loan
Deleted material evidence supporting this activity to cover up this activity
And refuses to supply specific facts to support his claims and instead spAms the threads

1.  Did you lose any funds as as result of usgai misrepresenting his various businesses and assets?
2. What facts can you provide that may support or refute these claims

Thanks.

All the fact are in the forum posts by me and multiple other people, who git fed up with constant BS.

Misvalued assets - yes
Tried to use company assets to pay off a personal loan - I can not recall at the moment all the details. Dig the forum, it's all here
Deleted material evidence supporting this activity to cover up this activity - yes. This has been proved in forums to ad nauseum 
And refuses to supply specific facts to support his claims and instead spAms the threads - yes. This has been proved in forums to ad nauseum 

1.  Did you lose any funds as as result of usgai misrepresenting his various businesses and assets? - yes, because information published (now deleted by usagi) was constantly wrong - that was discovered later.

2. What facts can you provide that may support or refute these claims - it's all in the forum post.

[repentance]

Mods, can we have a moratorium on new usagi threads (either about or by) please?

[vampire]

Oh shit, this escalated very quickly. BCB was very pro-Usagi just this morning.


Wow.

[repentance]

Oh shit, this escalated very quickly. BCB was very pro-Usagi just this morning.


Wow.

It's very hard to remain pro-usagi once he starts sperging about being a victim and trying to control the dialogue.  His erratic and contradictory statements don't exactly enhance his credibility, either (nor does the fact that he's created the impression that he's personally desperate for money right now).

[Justin00]

need more threads

[repentance]

need more threads

I'm sure usagi will provide.  He's on another sperg-roll.

[Deprived]

Mods, can we have a moratorium on new usagi threads (either about or by) please?

Doh - and I was going to make a new locked thread to respond to usagi's responses to BCB's quotes of me explaining how usagi's ealier responses were contradictory!

But more seriously, it DOES seem like the way to avoid a scammer tag is just to make a new thread every time you start losing the plot in the current one.  Then cherry-pick a few quotes to respond to, claim you're proved your innocent and hopefully everyone's so bored, confused or disinterested that it all dies away again.

Not that fussed about him actually getting a scammer tag myself anyway - so long as he doesn't get to abuse/misuse/lose fresh investor's funds I'm satisfied.  I'd personally dropped the subject until he decided to bump this thread himself - letting it lie here dormant while he returned investors' funds was fine by me - as that's far more important than some tag by his name.

[repentance]

Must be a very long breakfast usagi is having.  I'm waiting with bated breath for the next instalment of his response to BCB (who I actually thought was being a bit rough on him right up until usagi started sperging out again).

[usagi]

Must be a very long breakfast usagi is having.  I'm waiting with bated breath for the next instalment of his response to BCB (who I actually thought was being a bit rough on him right up until usagi started sperging out again).

No. While I've updated the thread I locked with the e-mails from BFL and a few more comments, I agree with you that the forums have become a very poor place to make and respond to scam accusation threads. Hence the original intent of posts like Onus and Remedy in Scam Accusation Threads before they got derailed by people out for blood.

I'll instead post a full response here: kongzi.ca/BCB

Any accusation you make and which BCB sees fit to publish will eventually be responded to there. BCB has offered himself as a central clearing house for complaints; I suggest, if you have something to say, you give it to him now.

[BCB]

usagi

I don't think we really need any more accusations.  You need some defenders. 

Where are they.

I'm glad to update my locked thread with any FACTS that refute the conclusions I'm drawn based on specific information provided by community members.

Thanks.

[usagi]

usagi

I don't think we really need any more accusations.  You need some defenders. 

Where are they.

I'm glad to update my locked thread with any FACTS that refute the conclusions I'm drawn based on specific information provided by community members.

Thanks.

No, I don't need defenders -- you need to provide evidence. The onus is on you to provide evidence for your claim I scammed, and not for me to try to prove a negative by providing supporters or defenders.

Although you have shown a very strong and clear bias against me, it is also true that you have provided some evidence. So I am going to ignore your attitude and say Thank you. Thank you for agreeing to be a central clearing house for the complaints against me. I suggest that if anyone has any evidence whatsoever, they now send it to BCB, or forever hold their peace.

I am now preparing a response, which will be posted at kongzi.ca/BCB

To BCB, I suggest you publish as much evidence as you can in the locked thread, and I will make a single response with the facts as I can provide them. I will not respond to accusations made where you have not provided evidence; I will merely catalogue your accusation and note that no evidence has been provided. And, I will link to your thread extensively to show that is the case. So, you better go now and post your evidence.

Remember, bias is not evidence. But good luck with that,

[Monster Tent]

Stop making new fucking threads. I reported you for spamming.

[usagi]

Stop making new fucking threads. I reported you for spamming.

BCB is treating me in an unfair and biased manner. He has ignored evidence I have given him, refused to read old threads, taken deprived, bakewell and others at their word (without evidence) and called me delusional, a horrible fund manager, and a liar -- even before he obtained any evidence beyond vampire's pathetic "typo accusation" (kongzi.ca/BCB/misrepresent1). In PM he has stated he will refuse to read my posts. He has a locked thread accusing me of stealing company funds, and he has not provided any evidence for that, nor most of his other claims.

I demand that I be allowed to respond to his allegations. OTOH I do recognize it's becoming even more spammy than it was before, since BCB decided to open a new thread on me. So I am responding on a website to keep the spam and drama down. You can read it or not, I don't care. But slowly, everything BCB has accused me of will be responded to simply and clearly.

If he did not post evidence in his nice and clean locked thread, I will point it out there. Good day.

[EskimoBob]

I mean, wtf are we still yapping about? Seriously!
 
Usagi:
1) Did you misrepresent  the financial state of your so called companies (NYAN*, CPA, all the rest of them)  - YES
2) Did you falsify NAV of portfolios under your management - YES
3) Did you overvalued illiquid junk in portfolios under your management-  YES (see 1 and 2)
4) Did you delete over one thousand posts (or was it closer to 2K?), including all the contacts, promises you made, "good news" you published etc from bitcointalk - YES


Moderators, for fuck sake, how many of those do you need?
Usagi's only job now is to clean up this mess by returning the coin to investors. When this is done, he must fuck off for good.

One more thing. Usagi, stop dragging my name into your fkn drama. Only thing I have done wrong  is not scream loud enough, when I realized how incompetent you actually are. My bad.
Pupet, Deprived, Deeplink and multiple other forum members have pointed out countless times what is/was wrong. You still ask for proof? It's all here!

[Deprived]

He has a locked thread accusing me of stealing company funds, and he has not provided any evidence for that, nor most of his other claims.

Hypocrisy at his best.

You made a thread accusing me and others of scamming.

There's 10 seperate accusations against me in it.

YOU locked the thread.

Your evidence for each of the 10 accusations against me was pretty much the same - you quoted me and said I was lieing/defrauding/defaming but provided no evidence to support your allegation.

One of the allegations you repeated in a seperate post in the thread.

Here it is in its entirety (can't quote it properly as you locked the thread).

"10. https://bitcointalk.org/index.php?topic=114820.msg1271394#msg1271394
"You've said a few times in this thread that EVERYTHING you had was invested on GLBSE - yet that isn't actually true is it?"
During the times BMF had hardware on order I had never failed to mention that. A shareholder motion was created over the issue of buying hardware. I made a very public series of posts about it. I never once tried to hide the fact we had a small amount of hardware. I mentioned it several times in PM to various creditors."

So - I was apparently lieing/defruading you/libelling you/whatever when I said that everything you had being on GLBSE wasn't true.

Yet TODAY you've admitted you actually have pre-orders that you're cancelling.  Those aren't on GLBSE are they?  So what was untrue with my statement - let alone causing you harm?  Obviously at that time you were trying to PRETEND you only had GLBSE assets - to the extent you made a scam accusation against someone for saying that wasn't true.

And when I pointed out how obviously you were wrong you went and locked the thread.

And NOW, having made accusations against me where you never provided evidence or demonstrated loss (impossible when your allegations were false) you somehow feel morally entitled to make a thread berating others for the low quality of their own scam accusations?

And having locked a thread accusing others - so they couldn't respond - you now whine about someone doing the same to you?

Pretty despicable really.

[usagi]

He has a locked thread accusing me of stealing company funds, and he has not provided any evidence for that, nor most of his other claims.

Hypocrisy at his best.

You made a thread accusing me and others of scamming.

There's 10 seperate accusations against me in it.

YOU locked the thread.

Your evidence for each of the 10 accusations against me was pretty much the same - you quoted me and said I was lieing/defrauding/defaming but provided no evidence to support your allegation.

One of the allegations you repeated in a seperate post in the thread.

Here it is in its entirety (can't quote it properly as you locked the thread).

"10. https://bitcointalk.org/index.php?topic=114820.msg1271394#msg1271394
"You've said a few times in this thread that EVERYTHING you had was invested on GLBSE - yet that isn't actually true is it?"
During the times BMF had hardware on order I had never failed to mention that. A shareholder motion was created over the issue of buying hardware. I made a very public series of posts about it. I never once tried to hide the fact we had a small amount of hardware. I mentioned it several times in PM to various creditors."

So - I was apparently lieing/defruading you/libelling you/whatever when I said that everything you had being on GLBSE wasn't true.

Yet TODAY you've admitted you actually have pre-orders that you're cancelling.  Those aren't on GLBSE are they?  So what was untrue with my statement - let alone causing you harm?  Obviously at that time you were trying to PRETEND you only had GLBSE assets - to the extent you made a scam accusation against someone for saying that wasn't true.

And when I pointed out how obviously you were wrong you went and locked the thread.

And NOW, having made accusations against me where you never provided evidence or demonstrated loss (impossible when your allegations were false) you somehow feel morally entitled to make a thread berating others for the low quality of their own scam accusations?

And having locked a thread accusing others - so they couldn't respond - you now whine about someone doing the same to you?

Pretty despicable really.

Make sure you give all your evidence to BCB so he can post it in his thread.

[vampire]

Hey usagi,

The next time you lie make sure that your lies make sense:

Let's see your webpage here, that I saved to my HD: http://kongzi.ca/BCB/misrepresent1/

Here is your quote from there:

Comment: 11:31AM is before vampire's accusation at Quote from: usagi on September 27, 2012, 04:24:25 PM.

My quote is here: https://bitcointalk.org/index.php?topic=113708.msg1228703#msg1228703 at 11:24AM EST not 4:24PM PST... Actually that would be 4:24PM GMT. Did you change your forum's settings to GMT to misquote me? Wow, that's low. Here is the quote in question:

The spreadsheet uses a formula which uses the average of the 24h and 5 day averages* Not a scam.
*=max(fetchTicker(concatenate(A13), "t5davg"), fetchTicker(concatenate(A13), "t24havg"))/100000000

Your screenshot show google's timestamp in PT zone...



So what's earlier 11:24AM EST or 11:31AM PST (or 2:31PM EST)?

Your page proves nothing. Because days prior you were questioned why the value of the market column is so far from reality. Too bad you can't erase my quotes ah?

Now let's see 11:24AM EST is 8:24AM PST...

Which is earlier than all of your screenshots. The earliest you got is at 10:18AM PT. Thanks google for timestamping that.

And the final nail:

https://bitcointalk.org/index.php?topic=112443.msg1225553#msg1225553

Puppet accuses you of fabricating numbers at 11:35AM EST or 8:35AM PST

In other words, before I posted that, I had already begun advertising the proper formula on the webage and spreadsheet.

In the other words you tried to edit the documents post factum.