Have Questions about GBLSE Shutdown? Ask Matthewh3 (Unofficial Spokesperson)

[Dalkore]

Last night I found out about the announcement on GBLSE's website.   A thread addressing a possible scammer tag was taking place (14 pages of response at the time).    Many users had questions about the shutdown and was waiting to hear from Nefario.  Then the most interesting thing happened.  

Below are the updates we have gotten so far from their unofficial spokesperson Matthewh3.   He seems to be in communication with Nefario.

Please direct your comments at Matthewh3 https://bitcointalk.org/index.php?action=profile;u=44583 for updates:


1.   Re: Nefario
October 06, 2012, 08:20:41 PM

Matthewh3 - "No GLBSE coins not users coins.  He hasn't touched a single satoshi of users monies.  He hasn't even paid a penny in legal fees yet.  It's only fair that GLBSE (profit) coins should used to solve GLBSE legal problems.  Nafario as already lost the way he made his living.  Expecting him to cover GLBSE legal fees personally to benefit the other shareholders or else a scammer tag deserves a scammer tag."

    
2.  Re: Nefario
October 06, 2012, 08:25:33 PM

Matthewh3 - "No Nafario told me on the phone he's had to shut down to avoid (possible) jail time for helping to fund terrorism and helping money laundering never mind all the tax issues."



3.  Re: Nefario
October 06, 2012, 08:51:42 PM

Matthewh3 - "Nafario said on the phone he has been made some very generous offers for the source-code.  Also the owner of the LTC-Global said he was selling his source-code too."

4.   Re: Nefario
October 06, 2012, 08:56:07 PM

Matthewh3 - "All users coins on the GLBSE is safe and untouched.  Nafario wants to return them as soon as possible as they are a legal liability to him.  He also said he will soon have a way for asset issuers to pay dividends but not trade shares. "


5.  Re: Nefario
October 06, 2012, 09:15:07 PM

Matthewh3 - "I think he will need full legal ID to pay back coins and shares.  Otherwise he risks being charged with possible money laundering and/or funding terrorism.  Tho he won't disclose that information unless requested by the government/police."

    
6.  Re: Nefario
October 06, 2012, 09:32:49 PM

Matthewh3 - "Maybe not to you but I think that's what Nafario's lawyer has told him is his get out of jail card for possible criminal charges.  This is not about stealing coins.  The GLBSE was where Nafario made his living and he didn't shut it down for the sake of shooting himself in the foot to steal coins.  As I stated he's working on a withdrawal process to comply with AML rules and will soon have a way for asset issuers to pay dividends but not trade shares."

    
7.  Re: Nefario
October 06, 2012, 09:44:05 PM

Matthewh3 - "It's just like when MtGox forced AML on people who wanted to withdraw.  Nafario doesn't do it and he has a very real risk of going to jail."



Announcement from GBLSE.com:

"GLBSE has been closed

I'm sorry to inform all our users that GLBSE is no longer able to continue operating, and has now closed.

Q: What does this mean if I'm an issuer?

We will do everything in our power to make the process of moving off GLBSE as smooth as possible, we are currently working on a simple, safe, and easy to use method that will allow you to continue your relationship with your asset holders

Q: I'm a GLBSE user, what about my assets and my bitcoin?

You will be able to get back your bitcoin, and if you want to reveal your username, email, and a bitcoin address to accept payments with, you can continue your relationship with the issuer of any assets you hold.

We will begin retuning bitcoin once we have recieved all coins from the GLBSE treasurer that manages the GLBSE cash reserves. BitcoinGlobal (GLBSE's partent company) shareholders and board voted for them to be returned immediately, we are awaiting compliance with this order. "

[1714575751]

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[1714575751]

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[tbcoin]

We already know why pirate wanted identified PPTs holders ...

[LegalEagle]

Anyone know exactly what he's being charged with?

[Shadow383]

We already know why pirate wanted identified PPTs holders ...

Yep, sounds to me like the SEC got to Pirate first (how could they not? his ID was all over here) and have then proceeded to go looking into GLBSE.
There's going to be some serious profiling going on I think.

[Graet]

We already know why pirate wanted identified PPTs holders ...

Yep, sounds to me like the SEC got to Pirate first (how could they not? his ID was all over here) and have then proceeded to go looking into GLBSE.
There's going to be some serious profiling going on I think.

correct me if I am wrong (I am sure someone will )
SEC = USA
Nefario is in England
maybe the British counterpart?

[Dalkore]

We already know why pirate wanted identified PPTs holders ...

Yep, sounds to me like the SEC got to Pirate first (how could they not? his ID was all over here) and have then proceeded to go looking into GLBSE.
There's going to be some serious profiling going on I think.

correct me if I am wrong (I am sure someone will )
SEC = USA
Nefario is in England
maybe the British counterpart?

It is the FSA (Financial Service Authority).  What people don't understand is that the SEC & FSA have a very tight working relationship and will bring charges for each other in the different countries.

[Shadow383]

We already know why pirate wanted identified PPTs holders ...

Yep, sounds to me like the SEC got to Pirate first (how could they not? his ID was all over here) and have then proceeded to go looking into GLBSE.
There's going to be some serious profiling going on I think.

correct me if I am wrong (I am sure someone will )
SEC = USA
Nefario is in England
maybe the British counterpart?

It is the FSA (Financial Service Authority).  What people don't understand is that the SEC & FSA have a very tight working relationship and will bring charges for each other in the different countries.

This.
I'm also UK-based - the FSA is just as neutered as the SEC is when it comes to big banks (read: sponsors of big political parties) but if the SEC wants you investigated for something it's pretty much a given that the FSA will act as their puppet.

[Shadow383]

Thanks for the great work dalkore, please keep us updated.

i guess with the codes thing you're actually in a slightly better position than most glbse issuers right now 

[muyuu]

I don't want to pester Matthewh3 or Nefario, I just want to know where am I supposed to submit my data to have my funds back.

[HorseRider]

I don't want to pester Matthewh3 or Nefario, I just want to know where am I supposed to submit my data to have my funds back.

Based on Mattewh3 or Nefario's claim, Nefario are working on such system.

[Dalkore]

I don't want to pester Matthewh3 or Nefario, I just want to know where am I supposed to submit my data to have my funds back.

Bottomline is that you will need to contact Nefario being that he was CEO.   As for Matthewh3, I wouldn't of posted this if he didn't come out and start making semi-official updates on GBLSE & Nefario's behalf.   

[franky1]

GBLSE uses bitcoins... so has nothing to do with america for the part of money laundering, unless they received dollars direct to the GBLSE site.
GBLSE would only be done for funding terrorists if they had stock listings saying (as a joke) 'terrorist fund'

the CEO is based in UK so its not US S.E.C that would have threatened him (if a threat even happened), the UK financial services authority only regulate its own members that they have approved. so they wont threaten him either.

it is other financial institutions that investigate non FSA approved financial dealing companies, such as the national fraud intelligence bureau which is part of the UK police force. and the UK financial intelliagence unit http://www.soca.gov.uk/about-soca/the-uk-financial-intelligence-unit (part of the UK serious organised crime agency SOCA)

either way FIAT was not dealt with so US or UK wont care.. its more likely bitpay, bit instant and all the other BTC to fiat services would be at risk then a stock exchange using something legally similiar to facebook credits..

[Evolvex]

I'll have to sub this one I reckon, can this be ongoing until everyones got sorted?

[URSAY]

We already know why pirate wanted identified PPTs holders ...

Yep, sounds to me like the SEC got to Pirate first (how could they not? his ID was all over here) and have then proceeded to go looking into GLBSE.
There's going to be some serious profiling going on I think.

correct me if I am wrong (I am sure someone will )
SEC = USA
Nefario is in England
maybe the British counterpart?

It is the FSA (Financial Service Authority).  What people don't understand is that the SEC & FSA have a very tight working relationship and will bring charges for each other in the different countries.

This.
I'm also UK-based - the FSA is just as neutered as the SEC is when it comes to big banks (read: sponsors of big political parties) but if the SEC wants you investigated for something it's pretty much a given that the FSA will act as their puppet.

Look at Dot Com.  USA has a wide reach.  Julian Assange is next.

[danster82]

I don't want to pester Matthewh3 or Nefario, I just want to know where am I supposed to submit my data to have my funds back.

This is exactly the point, regardless of whos right or wrong or whats happened or not, the way this has been handle is completely incompetent.

Users get no email notification, no contact details, no update status nothing, just left hanging, its as if your asking for legal action because your leaving users with no other option.
Ive contacted their only email and had no reply, what else is there to do?

[Graet]

I don't want to pester Matthewh3 or Nefario, I just want to know where am I supposed to submit my data to have my funds back.

This is exactly the point, regardless of whos right or wrong or whats happened or not, the way this has been handle is completely incompetent.

+1

[repentance]

The phone number is correct. I know because I just gave him a call (), and he said users funds will be available ~six hours after he wakes up.

https://bitcointalk.org/index.php?topic=115669.msg1254986#msg1254986

Let's see if there's any further information goes up about claiming funds in the next 12 hours or so.

[senor_coconut]

The phone number is correct. I know because I just gave him a call (), and he said users funds will be available ~six hours after he wakes up.

https://bitcointalk.org/index.php?topic=115669.msg1254986#msg1254986

Let's see if there's any further information goes up about claiming funds in the next 12 hours or so.

Hummm... sounds like Nefario's in a deep sleep mode...

Well, I'm not too worried after all I didn't have much in GLBSE and knew it was risky business.

If, on the other hand, I was Mr. James McCarthy... had my personal details splattered on the web after running away with a few thousand BTC... then maybe I wouldn't be able to sleep, coz someone might come-a-knockin...

[fbastage]

GBLSE uses bitcoins... so has nothing to do with america for the part of money laundering, unless they received dollars direct to the GBLSE site.


...

either way FIAT was not dealt with so US or UK wont care..

If Americans were sending funds (value in the form of btc, not fiat), the SEC will care.  If Americans were or complain about being scammed, they will care.  If unregulated securities were being marketed and sold to Americans, they will care.

You (or I) might disagree with them about if their jurisdiction or interest in this matter, but that won't stop them from acting or supporting their counterparts in the UK or elsewhere in action.

And they'll be able to sell their involvement pretty easily to most people with the 'terrorism' word (which seems pretty nutty to me) or money laundering concerns (more plausible).

I don't like this any more than you do, but the idea that the US, UK, or other nations won't intervene or care is likely wrong.

[stochastic]

GLBSE also states now:

Update:we will begin processing account closures and returning bitcoin later today.

I also heard from Garr in irc that he spoke to Nefario and that the funds would start being returned today.  It is 8 PM in London right now.  I am not sure what later today means then.