Originally by: Breaker77

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An audit was conducted by VV

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Goes to show you, audits are useless.

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Stepping Up My Presence
In November 2007 I setup Cosmoray as my main identity on the forums. I continued to be an active part of the forums (which I enjoyed), but when I played the game it was with my PVP toon on another account.
Things continued smoothly into the middle of 2008, when I started to run out funds again. At this time I actively worked on a plan to run a long term ponzi scheme where I could earn money, improve reputation with interest payments, refinance and continue until money ran out all whilst siphoning money for my PVP activities.

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Second Audited Scam
Around this time I came up with a plan to beat the audit system run by certain players.
This was achieved by launching a 32B ISK IPO with an ALT. Using Cosmoray I would station trade assets over to look good. The ALT was also heavily into IER (see further down) so it looked like a large business was occurring.
An audit was conducted by VV, easily passed and a holding corp was set up with Cosmoray and VV to hold 18B of the collateral.
The investment quickly sold out and the 32B ISK was raised.

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Originally by: Liberty Eternal

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Far from being useless, audits are very effective, particularly when deployed against their natural prey - the ponzi scheme.

The nature of a ponzi scheme is that the ponzi runner does not have the cash he says he does. This is why an audit is the best method of eliminating the ponzi. Whatever he may be saying now, Cosmonaut did try to take 62 bil for his empty ponzi. He had no way of getting over the audit hurdle, which is why it remains a powerful weapon that every ponzi-scammer detests.

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Originally by: Jita Bloodtear

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So is there a TLDR version of events? You built up a ponzi scheme reputation for X months to get out 100bil or so and distribute it to friends? Seems rather small time. This thread needs more numbers, and more back peddlers claiming they didn't trust you from the start - but still invested anyways

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Originally by: Vaerah Vahrokha

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Wall of babblefish

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Originally by: Vaerah Vahrokha

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Basically, the Investee looks like with the ability to successfully honor the bond, with some effort. Notice how an audit can only evaluate the ability or potential of an Investee to succesfully honor a bond, not his possibly different real plans.

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Originally by: Vaerah Vahrokha

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Your trolling is worsening lately, maybe because of trying too hard.

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Originally by: Amarr Citizen 155

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If only you all had listened to me last summer.

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Originally by: Florestan Bronstein

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Ironically VV is in my opinion the biggest threat to audits in MD - although she does instantly respond to any criticism with "look at my disclaimer here" she frequently overshoots the target by citing her flawless track record, making comparisons to (secure) RL, trying to prevent alternative checks with less potential for misinterpretation, ... and ends up contributing to the "audited investments are safe" attitude she tries(?) to prevent.

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Originally by: Bulldug

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Sociopaths are everywhere and many also become leaders and CEOs because they are addicted to attention and fame. Aneu Angelus are also a classic example of that in EVEs history. It's estimated that at least 4% of the population is a sociopath that are morally insane. What is creepy about these people are that they are great actors and masters of manipulation. Because of their skills in social engineering they can easily infiltrate any position of power to get what they want.

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