NEO and BEE talk (unmoderated)

[jimmothy]

Hasn't tat vetted all his investments and been wrong every time?

Sounds about right. No surprise he has joined the cult of mpex now.

[NanoAkron]

Let's not forget TaT stands for 'Thick as Thieves'.

Much like trusting 'Magic the Gathering: Online eXchange' with money...

The bitcoin community needs to grow up. I'm particularly unimpressed with Danny's tweet just before seeing the Cypriot parliament. Something to the effect of 'this whole place is filled with thieves'. Just what you'd want from a CEO...

[Lohoris]

remaining silent won't protect him legally, anyway.

He's been here long enough to know that people threat with legal actions all the time, and then nothing really happens.
So, yes, remaining silent will most certainly protect him.

[Lohoris]

And his responses to the thread discussing the banning of MP are suspicious, too.  His comments seem to indicate that MP/others were right, and TAT had knowledge to back it up.

No, his response was a kid's whine, and a bit out of character, so I suspect he just used as a plausible excuse to leave this place.

[NotLambchop]

Let's not forget TaT stands for 'Thick as Thieves'.

Much like trusting 'Magic the Gathering: Online eXchange' with money...
...

Let me guess:  You've trusted your money to both?

Re. "remaining silent won't protect...":  Because you should always talk as much as you can, without a lawyer.

[S4VV4S]

http://www.coindesk.com/neo-bee-ceo-danny-brewster-faces-fraud-allegations-cyprus/

[uhoh]

On March 28, 2014 Havelock Investments halted trading of the NEOBEE Fund; Havelock Investments has yet to receive any formal information in regards to the questionable trading activity on the LMB share platform website. We have not received any formal information on the current situation at LMB Holdings. Due to those factors we have decided that the unit holders on the NEOBEE Fund should no longer be suspended from trading their units. The Fund will now be designated as NEOBEEQ to reflect the uncertainty of the future of LMB Holdings – NEO BEE Ltd. Financial information on the status of the company has not been released. The units of this Fund will continue to trade even if the company will file for bankruptcy. We will continue to update you if any information is provided to us.

Trading will resume today at 5:00 PM EST

Thank you for investing with Havelock Investments!
https://www.havelockinvestments.com

[jimmothy]

http://www.coindesk.com/neo-bee-ceo-danny-brewster-faces-fraud-allegations-cyprus/

Now it appears that the staff have had enough. One employee told Cyprus Mail reporter Elias Hazou that “no one’s in charge” and that staff members were “clearing out”. Hazou says the company’s head office in Nicosia was “all but deserted” yesterday.

The staff member confirmed that the local staff had not received their March wages and that they did not know anything about Brewster’s whereabouts. Brewster apparently left Cyprus on or before 19th March and the staff member had not heard from him since

So all that FUD from souce101 was actually not FUD?

[Luttinen]

http://www.coindesk.com/neo-bee-ceo-danny-brewster-faces-fraud-allegations-cyprus/

Now it appears that the staff have had enough. One employee told Cyprus Mail reporter Elias Hazou that “no one’s in charge” and that staff members were “clearing out”. Hazou says the company’s head office in Nicosia was “all but deserted” yesterday.

The staff member confirmed that the local staff had not received their March wages and that they did not know anything about Brewster’s whereabouts. Brewster apparently left Cyprus on or before 19th March and the staff member had not heard from him since

So all that FUD from souce101 was actually not FUD?

I left Cyprus on a short term temporary basis for reasons that will follow, I haven't shipped anything from Cyprus and I certainly haven't run away with company or peoples money or bitcoins. Following those posts on the forum, I received direct threats targeted directly at my daughter, they have been reported to the relevant authorities, Once those threats were made I took the advice to remain outside of Cyprus and remove contact with anyone that could be responsible for the threats, this included not speaking with members of staff that could be responsible.

https://bitcointalk.org/index.php?topic=289730.msg6030319#msg6030319

[jimmothy]

Are we supposed to believe anything danny says after he:

- Without informing any staff he boards a plane and leaves the country
- Does not leave plan in place for neobee when he leaves country "for business"
- Does not pay employees for entire month of march so they are quitting.
- Lost 400 btc of "his own money" in mtgox.
- Receives a single threat (why?) and decides that is enough to quit and abandon his company.
- Has not filed police report about threats.
- Leaves multimillion dollar company without anyone in charge after quitting suddenly.

Could this have really been a long con?

[Luttinen]

@jimmothy

My reasons for leaving was to raise additional capital for the business through the sale of my equity as we had run out of liquidity, I had exhausted all of my own liquidity too through directors loans to the company. Every single Bitcoin raised and spent is accounted for, any claims of embezzlement are nothing but empty claims with no foundation. There were coins lost in BitFunder/WeExchange which I personally covered and assumed that debt of 1420BTC to ensure the company could continue unaffected, UKYO also owes me an additional 260BTC separately from the 1420BTC. I also have 369.8BTC of my own Bitcoin stuck with MtGox that would have been given to the company to settle all creditors and continue operations whilst more capital was raised. Having funds on MtGox was a personal risk that I assumed and no company funds were ever held on there.

My original plan was to raise more capital to allow the company to achieve its potential through the sale of some of my equity. The moment threats were made towards my daughter this plan changed and I decided I would sell all of my equity, allowing the new owner to appoint a new CEO.

Said threats might have scared him and made him act irrationally and we don't know how it affected his fiancee. In a way he put life of his daughter first to interest of shareholders and his company if those threats were real.

Too early to make rush judgements.

https://bitcointalk.org/index.php?topic=289730.msg6030319#msg6030319

[minerpart]

Are we supposed to believe anything danny says after he:

- Without informing any staff he boards a plane and leaves the country
- Does not leave plan in place for neobee when he leaves country "for business"
- Does not pay employees for entire month of march so they are quitting.
- Lost 400 btc of "his own money" in mtgox.
- Receives a single threat (why?) and decides that is enough to quit and abandon his company.
- Has not filed police report about threats.
- Leaves multimillion dollar company without anyone in charge after quitting suddenly.

Could this have really been a long con?

No look it wasn't a con. Danny has lost a fortune in neobee. He has made a big business loss as CEO and has freaked out simple as. Wouldn't you?

The loss is not fraud, the loss is down to the market not following NB predictions. Many many businesses fail due to adverse market conditions or unrealistic profit forecasts. Many FIAT banks have failed and in the weeks before crunch point stress levels are beyond maximum for all involved. Danny probably didn't sleep or eat properly for 2 weeks leading up to this. It's not easy to go into work and tell 10 people you can't pay them, their jobs are gone and the company has no liquid funds to continue. He fled due to the stress of it. It's natural and he would have been far from himself in the days before the crunch day. He hasn't done anything illegal from what I can see he has just freaked out. Again businesses fail. That's life.

[jimmothy]

So he took all his belongings from cyprus with him on a business trip?

Why could he not communicate with the company/investors before the threats were made?

Why did he go "seeking investors" without informing the company first?

Why is neobee short on liquidity?

None of this adds up if you ask me.

[velacreations]

yeah, don't forget he filed for change of CEO without telling anyone, 3 weeks ago.

He also took customers' money without giving them BTC.

[jimmothy]

Are we supposed to believe anything danny says after he:

- Without informing any staff he boards a plane and leaves the country
- Does not leave plan in place for neobee when he leaves country "for business"
- Does not pay employees for entire month of march so they are quitting.
- Lost 400 btc of "his own money" in mtgox.
- Receives a single threat (why?) and decides that is enough to quit and abandon his company.
- Has not filed police report about threats.
- Leaves multimillion dollar company without anyone in charge after quitting suddenly.

Could this have really been a long con?

No look it wasn't a con. Danny has lost a fortune in neobee. He has made a big business loss as CEO and has freaked out simple as. Wouldn't you?

The loss is not fraud, the loss is down to the market not following NB predictions. Many many businesses fail due to adverse market conditions or unrealistic profit forecasts. Many FIAT banks have failed and in the weeks before crunch point stress levels are beyond maximum for all involved. Danny probably didn't sleep or eat properly for 2 weeks leading up to this. It's not easy to go into work and tell 10 people you can't pay them, their jobs are gone and the company has no liquid funds to continue. He fled due to the stress of it. It's natural and he would have been far from himself in the days before the crunch day. He hasn't done anything illegal from what I can see he has just freaked out. Again businesses fail. That's life.

It's simply not acceptable or even realistic for a startup to raise 6 million dollars during IPO and be broke by time they launch. Where did the money go?

[minerpart]

He also took customers' money without giving them BTC.

The two customers may have a claim against the bank to get their money back but that would depend on their contract. If you put money into a bank and it goes bust you won't get it back - unless there are 3rd party guarantees inplace somewhere. The timing may have been bad for them, they paid in and during the processing of their money the bank went bust perhaps?

[minerpart]

It's simply not acceptable or even realistic for a startup to raise 6 million dollars during IPO and be broke by time they launch. Where did the money go?

You are asking the wrong person but it still doesn't make a case for fraud. I think you know as well as I do what some of the outgoings must have been:

wages
software
advertising
rental
refurbishment
advertising
business partnerships
advertising

[Luttinen]

@jimmothy

Calm the fuck down and wait for a clear resolution before shitting your pants like that. Freaking idiotic weak hands.

They've started burning through cash before launch, months before. Launch was just public opening. Staff was hired before that. $6 million or 4.378.920 Euros is not that much when you consider all the staff, promotions, lawyers, trading software, lobbying, travel expenses, building renovation, POS terminals and so on.

[sporket]

@herpy above:  ready to snap up some cheap sharez when the fun starts in half an hour on Havelock?

[minerpart]

twat