[CRYPTOSTOCKS] Labcoin Official Thread - Self-Moderated

[Bitcycle]

lets hope Sammy boy finishes soldering chips onto 50TH of boards soon lol... he may have wads of Investor money but the only thing that can save his ass now is raw TH.

Yep.  The legal avenues are being pursued.  There's no way out now, Sammy, other than actually delivering.   No more time for excuses.


Of course, he's not even paying out the dividends he's collected with his pathetic hashrate (still his dumbest move yet, scam or incompetence aside).

And his hashrate keeps falling. And it's not falling in the way that it would if chips were slowly failing, but it's falling in big chunks, across several or all workers at once.  Something else is going on there. 


I don't  really see Sammy getting out of this one.

[bitmoon]

btw at ghash.io

i see two miners with nice green %, firstime i see it, but i have no clue what it means lol.

but all miner behaving wierd, is sam playing with them, trying to fix? and he decided ignore forum ofcourse, just logs in sometime, then gone.

or

is it he ran away, and the miners are left alone, they got maybe overheated, thus decreased in speed and one miner died, maybe it cooldowned then rebooted it self lol.
but if thats true, i cant believe labcoin miner has intelligence circuit build in, lol.

but if he ran away, why he didnt take miners and rest of dividend money with him?

sam, can you post pictures now, since you said after having an open space setup in shenzen right? like month ago now,

[Bitcycle]

'
There's always minor variation in the worker's hashrates.  It doesn't mean anything until it's substantial and lasts for half an hour or more.  Otherwise it's just the normal ups and downs.


But you do bring up a good point. What happened to that Open Space where you were going to show the hashers Sammy?


Are you just going to come with a new excuse? 

I'm sure you won't deliver. Again.  You never deliver.

[MikeyVeez]

Hey everyone,

So we have now 2 million shares backing up the coming complaint and more are joining us every day. I been working on the case gathering and organizing information for the complaint. I have also been in contact with the lawyer and I will hire him after we get the details worked out for our contract.

So now I'm asking the community to help out with the case, if you are good at writing and like to help putting the complaint together I made a thread were anyone can help out to make the complaint or just a part of it. Post in this thread your view of how/why Labcoin broke the contract and I will use that information in the complaint, Pleas be professional about it so that the text will be appropriate for a complaint.

Here is the thread:

https://bitcointalk.org/index.php?topic=332638.0

But if you are a real comedian and think you can make a better joke out of Labcoin than Sam has done, feel free to try I love some good Lulz


I also made a thread to collect information about Labcoin's history, different user name's involved with Labcoin, any information that could be useful for the complaint and to find out who these guys are and who's credentials they have been using.

Here is the thread:

https://bitcointalk.org/index.php?topic=332624.0

If you don't want to submit the information on those thread's or have any questions pleas PM me here:

https://bitcointalk.org/index.php?action=profile;u=144825

Lawsuit thread here:

https://bitcointalk.org/index.php?topic=325431.0

Thank you for your support

You need to also file charges in hong kong and also with the SEC as America will extradite his ass in a heart beat to make him another example.

[MikeyVeez]

What this moron needs to do is refund unspent BTC and call it a day.

[superduh]

"I release myself and my company any responsibility for any other action take on my, or my company name for the labcoin project."

Oh, that's easy. Make a statement like this then everything is fine for him. If you are not involved, why sign a contract for this project? For fun?

lol

in a way i *maybe* will feel bad if he got scammed by alberto. who is this alberto scammer?! how does he get away with fucking the bitcoin folk over and over and over

i also don't buy this 100% since "delaria" / fabrizios sister was involved (unless her account was hacked) AND howard vouches that he met fabrizio face to face in china.

[Puppet]

alberto appears to be fabrizzio's (ex?) brother in law. Alberto may have been married to /involved with, his sister, allessia.
For no real reason other than gut instinct, I do happen to believe fabrizio got duped himself and may be in a very awkward situation now, especially if the involvement between alberte and allessia is still ongoing and even more if allessia is herself involved in this scam.

(That doesnt mean we should let Fabrizio protect the people that are involved, but keep it polite).

[superduh]

alberto appears to be fabrizzio's (ex?) brother in law. Alberto may have been married to /involved with, his sister, allessia.
For no real reason other than gut instinct, I do happen to believe fabrizio got duped himself and may be in a very awkward situation now, especially if the involvement between alberte and allessia is still ongoing and even more if allessia is herself involved in this scam.

(That doesnt mean we should let Fabrizio protect the people that are involved, but keep it polite).

that's why ceo's are ceo's they are responsible for those under them and shouldn't sign off on things. front-man is a different kind of "ceo".

[Bitcycle]

A very tiny increase in hashrate today, a couple hundred GH.  Not worth mentioning, ordinarily, but it's  the first increase in a long line of decreases.

Though again, as long as "Sam" is keeping the dividends for himself, it doesn't matter.

[Puppet]

He's "ceo" of a company that most likely had (almost) nothing to do with labcoin, or barely more than TheSeven or Howard Wangs billing companies - should they have any. You didnt buy shares in iTec-Pro (which appears to be a non active shelf company anyway), you bought shares in a scam.

Maybe Fabr is more involved than Im inclined to believe, but his name and company name appearing on Alberto's sheet of lies is not enough for me to crucify him. I suspect he was asked merely to sign the fab NDA/toolkit/RFQ/ or whatever they did sign,  because they needed a legal entity to be able to just talk to the fab. Thats a fairly small favor to ask your brother in law, Im sure we have all done similar thing to avoid VAT or whatever.

If Im wrong about that, so be it, but Ive not seen credible evidence that he was more involved, or aware, nor that he even made any money from this.

[Bitcycle]

He's "ceo" of a company that most likely had (almost) nothing to do with labcoin, or barely more than TheSeven or Howard Wangs billing companies - should they have any. You didnt buy shares in iTec-Pro (which appears to be a non active shelf company anyway), you bought shares in a scam.

Maybe Fabr is more involved than Im inclined to believe, but his name and company name appearing on Alberto's sheet of lies is not enough for me to crucify him. I suspect he was asked merely to sign the fab NDA/toolkit/RFQ/ or whatever they did sign,  because they needed a legal entity to be able to just talk to the fab. Thats a fairly small favor to ask your brother in law, Im sure we have all done similar thing to avoid VAT or whatever.

If Im wrong about that, so be it, but Ive not seen credible evidence that he was more involved, or aware, nor that he even made any money from this.

If he's related to Alberto, he's aware of Alberto's history. Particularly since Alessia was also involved in ZenPad.

Also, a large number of shares were bought and sold from the withheld shares, which indicates the involvement of more than one person.

Sorry, no slack to cut here.

[Bitcycle]

Also from Puppet's earlier chatlog with Fabrizio:

"I've already enquired my collaborators about this issue and I will take action to stop any illegal action or fraud under my company name."


Sounds like Fabrizio will be happy to cooperate with the lawyer, then. I look forward to hearing how that works out.

[superduh]

Also from Puppet's earlier chatlog with Fabrizio:

"I've already enquired my collaborators about this issue and I will take action to stop any illegal action or fraud under my company name."


Sounds like Fabrizio will be happy to cooperate with the lawyer, then. I look forward to hearing how that works out.

why hasn't he done so, yet?

[BitThink]

He's "ceo" of a company that most likely had (almost) nothing to do with labcoin, or barely more than TheSeven or Howard Wangs billing companies - should they have any. You didnt buy shares in iTec-Pro (which appears to be a non active shelf company anyway), you bought shares in a scam.

Maybe Fabr is more involved than Im inclined to believe, but his name and company name appearing on Alberto's sheet of lies is not enough for me to crucify him. I suspect he was asked merely to sign the fab NDA/toolkit/RFQ/ or whatever they did sign,  because they needed a legal entity to be able to just talk to the fab. Thats a fairly small favor to ask your brother in law, Im sure we have all done similar thing to avoid VAT or whatever.

If Im wrong about that, so be it, but Ive not seen credible evidence that he was more involved, or aware, nor that he even made any money from this.

I think he needs more evidence than just his own words to prove himself is not involved. Otherwise, he is the main person listed in this scam and the only legal document is signed by him.  Moreover, most likely the only person others (Howard) see face to face is him. Tell me why we have to believe he is not involved and everything is done by others (maybe Alberto) just because he said so. It is his responsibility to prove he is not involved.

[hobbymd]

He's "ceo" of a company that most likely had (almost) nothing to do with labcoin, or barely more than TheSeven or Howard Wangs billing companies - should they have any. You didnt buy shares in iTec-Pro (which appears to be a non active shelf company anyway), you bought shares in a scam.

Maybe Fabr is more involved than Im inclined to believe, but his name and company name appearing on Alberto's sheet of lies is not enough for me to crucify him. I suspect he was asked merely to sign the fab NDA/toolkit/RFQ/ or whatever they did sign,  because they needed a legal entity to be able to just talk to the fab. Thats a fairly small favor to ask your brother in law, Im sure we have all done similar thing to avoid VAT or whatever.

If Im wrong about that, so be it, but Ive not seen credible evidence that he was more involved, or aware, nor that he even made any money from this.

I think he needs more evidence than just his own words to prove himself is not involved. Otherwise, he is the main person listed in this scam and the only legal document is signed by him.  Moreover, most likely the only person others (Howard) see face to face is him. Tell me why we have to believe he is not involved and everything is done by others (maybe Alberto) just because he said so. It is his responsibility to prove he is not involved.

Exactly, the burden of proof is on fabr
     

[drawingthesun]

I said this a long time ago and no one listened.

Everyone involved in the scam will cry and shout they were scammed/used/underpaid/etc...

I forget who, but remember that jerk complaining he only got paid 10 btc? And everyone soaked it up, what about theswede that plays a sob story about how he is still invested.

Theswede has a lot of bitcoin from other investments and is an early adopter, theswede also used his "reputation" and marketing speak to get people to fork over 7,000 bitcoin. I think theswede should pay out all of his bitcoin to the shareholders, even if he can only cover 10%. it is something.

Look how stupid everyone here looks, you have all these people to target and you let them funnel you into looking for one single person.

Everyone involved in Labcoin is involved in the scam, and they are "sob story"ing their way out of handing over cash. They must go bankrupt giving everything they own back to shareholders. Some of these scammers own business, that business must now be liquefied to pay back Labcoin shareholder debts. Theswede must now get out his cold wallets and pay back, even if he has not made anything from Labcoin he enabled the scam.

I am no longer invested but I get frustrated reading how yet again another scammer has told you to look down another dark alleyway.

Remember: Everyone involved is going to cry and shout and misdirect.

I doubt anyone here will actually pull through and theswede and the rest are going to get away with it. No way the scammers are going to pay. Scammers to smart obviously. Now Labcoin shareholders, prove me wrong!

[Bitcycle]

Possible misrepresentation in the prospectus-


"the company has already invested $100.000+ in development and preparations for a first run of chip production of 130 nm chips"

Given what we've heard from Howard and TheSeven, this seems very unlikely to be true. Documentation for this $100k in development needs to be provided.



" Labcoin does however bind itself to NOT significantly change the direction of the company without share holder input. "

Would this also include selling the company to an unknown third party without consulting the shareholders?


Also note that the Prospectus as listed on CryptoStocks still lists:

Company registration: http://www.linkedin.com/company/itec-pro-limited


Surely Fabrizio will take action to have this corrected as soon as possible?

[merv77]

What this moron needs to do is refund unspent BTC and call it a day.

fuck a refund, I want to see whoever involved BURN... crucify this pick and his family... sorry but that's the way I feel

[dtown]

What this moron needs to do is refund unspent BTC and call it a day.

fuck a refund, I want to see whoever involved BURN... crucify this pick and his family... sorry but that's the way I feel

I vote refund

[JohnyBigs]

What this moron needs to do is refund unspent BTC and call it a day.

fuck a refund, I want to see whoever involved BURN... crucify this pick and his family... sorry but that's the way I feel

I vote refund

^ lol