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Author Topic: What happenned to pirate@40 ?  (Read 1561 times)
papa_snurf (OP)
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April 06, 2013, 04:36:51 PM
 #1

I remember that a probable culprit was identified, but I stopped following the soap-opera. What's the current status of this story?
mai77
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April 06, 2013, 04:38:31 PM
 #2

he was tarred and feathered  Cheesy
papa_snurf (OP)
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April 06, 2013, 04:46:28 PM
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he was tarred and feathered  Cheesy

Lol.  Grin But seriously there are no litigations pending ? I remember that there was a good case against the guy.
Bitcoinm
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April 06, 2013, 06:09:23 PM
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Pretty sure he just left... and the SEC has been investigating.  The government is slow and cumbersome but who knows, they could announce they caught him in a few months if they actually did an investigation.
foggyb
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April 06, 2013, 06:17:09 PM
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he was tarred and feathered  Cheesy

He's in digital jail.


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kwukduck
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April 06, 2013, 08:30:41 PM
 #6

What happened? He scammed 500k btc and lives happily ever after.
End of story.

14b8PdeWLqK3yi3PrNHMmCvSmvDEKEBh3E
mai77
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April 06, 2013, 08:34:12 PM
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seems unlike Bernie Madoff he didn't scam jews enough  Wink
Uncle Scrooge
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April 06, 2013, 09:59:33 PM
 #8

A summary of events would be nice.
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April 06, 2013, 10:02:02 PM
 #9

A summary of events would be nice.

http://bitcoinmagazine.com/the-pirate-saga-and-so-it-ends/
Elwar
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April 06, 2013, 10:18:21 PM
 #10

Apparently the SEC is working to have him arrested.

https://bitcointalk.org/index.php?topic=159772.0

His address and all of his information has been posted on the boards here as well.

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April 06, 2013, 11:39:25 PM
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Most ponzi's when they are busted have nothing left in the tank, since you're paying old investors out with new money it disappears fast. I have yet to hear of any ponzi having more than a token amount of money left after they are busted. Since they are discovered when they can't get new investors and can no longer afford to  pay out for withdraws, there's obviously no money left to recover.  Only thing left to do is put him in jail for 40yrs for running a ponzi scam and since PIrate is a proven chronic liar, the jury/judge will see straight through anything he says he's totally screwed. He's even too poor/stupid to go on the run to Brazil and avoid extradition and is still logging into his account here. Total moron.




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April 06, 2013, 11:50:18 PM
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Most ponzi's when they are busted have nothing left in the tank, since you're paying old investors out with new money it disappears fast. I have yet to hear of any ponzi having more than a token amount of money left after they are busted. Since they are discovered when they can't get new investors and can no longer afford to  pay out for withdraws, there's obviously no money left to recover.  Only thing left to do is put him in jail for 40yrs for running a ponzi scam and since PIrate is a proven chronic liar, the jury/judge will see straight through anything he says he's totally screwed. He's even too poor/stupid to go on the run to Brazil and avoid extradition and is still logging into his account here. Total moron.
I think it would be foolish to put him in jail.  Who is going to pay for that?  What would work better is to capture him and interview him, and invite his victims to interview him, and film it all and invite other people who knew him to come and interview him, and make it into a movie about his scheme.  It could be funny and educational and helpful, and if it was done well, it would generate a profit, perhaps at his expense which could go toward compensating his victims.

Alas!  The state is in the way, and anyone who attempts to find such justice in this world will be blocked from doing so by thugs and their aura of moral legitimacy.  But someday...

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