Originally by: Titans 4U

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The Trustees will soon announce the lockdown of our new Erebus BPO.

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Originally by: Hatoraa

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any concerns, with news of the changes to titans, and the recent drop in titan prices?

(I'm not an investor, just curious). I had planned on investing in titan bpos, but... future seems a tad uncertain (of course, as with any bpo copying, you cant *lose* isk, just not make as much as planned)

o/

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Originally by: Bad Bobby

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The Avatar BPO is now locked down and is undergoing research to ME1.

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Originally by: Bad Bobby

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1,820,000,000 received as deposit on pre-orders

109,200,000 (6%) sent to me
18,200,000 (1%) sent to trustee

1,692,600,000 (93%) distributed as dividend to shareholders

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Originally by: Martosh Toma

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Originally by: Cheque Please

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BB, just curious (if you want to answer honestly)...
Did you intend to scam from the very start 1+ yrs ago, or did boredom set in somewhere along the way and you got tired of running the fund?

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He already answered this question in the other thread.

Had the trustees done their work properly and insisted the installment of the new trustees would have been done securely, then T4U would still be a running business.

From his explanations so far I concluded the following:

Once the trustees allowed for the creation of 600 new shares at once all was lost.
The current trustees should have insisted the shares in the super sekrit corp, for the new trustees, would be created in batches. Having each newly assigned trustee confirming receiving the shares before a new batch was to be created.

Proton claims to have protested extending the number of trustees, but did not vote against the creation of the 600 new shares.
I guess most either looked at the presented end situation, but forgot that during the installment process bb would have a controlling number of shares.
Or perhaps, they considered their position to be merely ornamental and mostly a 'hit by bus' contingency as bb had 'proven' himself to be trustworthy.

Them failing at their job created the opportunity for BB to run off with all T4U assets.
Having taken this opportunity with T4U BB felt no further obligation to repay any of his other less well secured (or even unsecured, like the loan Emmgel and me provided him with) public investments.

He may present a more detailed explenation later as promised.

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Originally by: Martosh Toma

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so you say we shareholders should have should have described in detail to you how we wanted the installment process for the new trusteed to be performed?

I do not claim to be free of my own share of the blame on this one, but assuming that creation and distribution of shares in a trustee corporation is done in a manner preventing a share majority in anyones hands at any time is not such a strange assumption. After all, that safe distribution of shares and risk is the very thing it was set up for.
Then again many people (myself not excluded) seem to have a blind spot for security in these transitional processes. Most people seem to assume all is well if both the starting and ending situation are secure and the process linking them appears to be the most direct path between the 2 situations.
Most likely a discussion on the security of the installment process for the additional trustees would only have occurred if it had included more than one vote to create extra shares or some other complexity from the start. Because this would have been giving the impression of a (needlessly?) complex process warning everyone to pay attention to what was going on.

PS:
I lost 4B on your and the other trustees failure in this and almost 20B on my own gullibility.
I know the majority of the guilt for my loss lies squarely with me.

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Originally by: Breaker77

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Originally by: Bad Bobby

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Originally by: RAW23

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So who did give you their shares, if you don't mind sharing?

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Ok. Time to let that bit of drama die, I suppose.

I didn't take anyone's shares from them, rather I did not give them their shares in the first place. The shares in question were created for Cosmoray and were never sent to him. They just sat in the corp wallet. He actually mentioned this at least once in this thread a long time back.

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None of the other directors noticed this or said anything about it. They did have director access after all, even if on disposable alts, they had to have noticed it before the 14 day trial expired.

That makes them just as guilty

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