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It was one big PONZI scheme

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cosmoray Cosmoray Holdings Corp	Posted - 2011.03.03 23:29:00 - [1] So as most of you have now realized with the public audit, the Cosmoray house of cards has imploded. It was, and always has been a massive ponzi scheme right from the start. So yeah, I am a big fat SCAMMER!! The cons started in 2007, and some are even still running today. I have had help, there are still some active accomplices out there. I doubt you will find them though. Why did I stop, boredom mainly. I tried to give the game away but it took some pushing to get caught. Here is a link to the whole story if you want to read it: Cosmoray's Ponzi Life The link is a bit of a wall of text, because I probably screwed up the transfer making it public somehow. You can read it and flame me, or you can just flame me. I'll even answer your questions if you want. Have fun. note: I haven't changed the API, so you can look through the account as much as you like.
cosmoray Cosmoray Holdings Corp	Posted - 2011.03.03 23:43:00 - [2] Originally by: Breaker77 Quote: An audit was conducted by VV Goes to show you, audits are useless. Anyone can get past an audit. The two best ways: 1. BPC vs. BPO 2. Transfer of assets via station trade. My total take is close to zero, as I have given 99% of it away. I didn't even take the 10-20B offered in the Hegel bond. That bond was mainly to try and show up in an audit anyway
cosmoray Cosmoray Holdings Corp	Posted - 2011.03.03 23:54:00 - [3] Originally by: Liberty Eternal Edited by: Liberty Eternal on 03/03/2011 23:48:58 Originally by: cosmoray Anyone can get past an audit. The two best ways: 1. BPC vs. BPO 2. Transfer of assets via station trade. My total take is close to zero, as I have given 99% of it away. I didn't even take the 10-20B offered in the Hegel bond. That bond was mainly to try and show up in an audit anyway Another scammer saying audits are useless I think the Hegel Angel case was an attempt to get 62 bil and that you would have taken it if you could. Wasn't interested in the cash from that, as I practically don't play anyway. I wanted to set up the audit to see if people would see the 100M ISK money transfer in the wallet journal. I couldn't have collected either, as I was actually out of the country with no game access on work laptop. The plan was to always end it in March. I could have earnt the 15B or so offered, and I could have taken Billions in the signature channel with people practically throwing money at me. Any that did was returned. This was SCAM burnout, I didn't want anymore. I gambled the last 3B at EOH by playing Heads Up until I lost it.
cosmoray Cosmoray Holdings Corp	Posted - 2011.03.04 01:21:00 - [4] Originally by: SencneS Edited by: SencneS on 04/03/2011 01:06:47 While one time audits are useless when faced with someone smart enough to exploit them. I wonder how he could have faired with an ongoing constant financial reporting on his API. Its one thing to create an environment in which can clearly trick a one time audit, it's another to maintain the illusion without anything unusual coming up. The longer it runs the possibility of being tripped by up a financial reporting would be. Interesting read none the less, it's saved for reference material and is has some new unique insight into what to look for to determine a scam at least. I would have been dead in the water with continuously tracked API data. The obvious way to beat individual audits was and is asset transfers via station trades between two accounts. Secondly you always need to rotate who you use to audit you. Account A set up, gets audits passes with auditor X Account B launches business with account A assets, and audited by auditor Y Account A launches bigger business with account B assets, audited by auditor X or new one. Obviously takes a bit of time for API to clear between audits. This can be done easily by buying lots of little junk for low lvl PVP (ammo etc.). Assets can be boosted with good quality BPC's that software can't see difference (used to be at least). Final and possibly most important thing is the interview with the auditor to discuss business plan and scope. Spend time chatting with auditor that it is said publically that it is the "other" character being audited, and that in event of SCAM the characters will be released. The auditors always see this as failsafe, because they are above reproach. This way the unknown ALT is never audited by the same auditor so the information isn't made public so other auditors won't find out. The other thing on your side is that auditors are quite often doing the audit to prepare a name for themselves. They are building their own rep by performing a quality audit on you. They want you to be successful. There are always questionable items that come up on the audit, as long as you have a reasonable explanation the auditor WANTS to believe you. This process is in their benefit also.
cosmoray Cosmoray Holdings Corp	Posted - 2011.03.04 01:50:00 - [5] VV the audit you performed showed REAL BPO's and assets. This was done via asset transfer from Cosmoray to Irgazin. At the time you even asked why there was questionable transactions between Cosmoray and Irgazin, because there was a bunch of ISK transfers. It was played off easily. Read the chatlog bro!! My first audit that was done on the original Cosmo Construction, was done with BPC's.
cosmoray Cosmoray Holdings Corp	Posted - 2011.03.04 02:39:00 - [6] The take wasn't massive by any means. I left with total debts of 99.5B: Cosmoray Holdings Bond = 40B Private Bond = 59.5B Plus a few others that folded. The profits over the long term with all the scams was maybe 30B, but I also made money with the scam proceeds so I am not actually sure of the realistic take (pure scam profit after dividends). Total profits (net after dividends) over time utilizing (IER, loans, patch trading, etc) the stolen ISK was in excess of 200B ISK. But, as stated the ponzi scheme was always growing needing more food to feed itself. If you had invested early it is likely that you got most (over 100% if invested at start) of your money back via dividends. Wasn't really the amount that I was interested in, it was the manipulation and playing the long con. Problem was it got boring.
cosmoray Cosmoray Holdings Corp	Posted - 2011.03.04 02:48:00 - [7] Originally by: Vaerah Vahrokha Originally by: cosmoray The take wasn't massive by any means. I left with total debts of 99.5B: Cosmoray Holdings Bond = 40B Private Bond = 59.5B Plus a few others that folded. The profits over the long term with all the scams was maybe 30B, but I also made money with the scam proceeds so I am not actually sure of the realistic take (pure scam profit after dividends). Total profits (net after dividends) over time utilizing (IER, loans, patch trading, etc) the stolen ISK was in excess of 200B ISK. But, as stated the ponzi scheme was always growing needing more food to feed itself. If you had invested early it is likely that you got most (over 100% if invested at start) of your money back via dividends. Wasn't really the amount that I was interested in, it was the manipulation and playing the long con. Problem was it got boring. I recall people like Flakeys invested in Zigzag industries. How did you manage to quietly shut it down without paying? Because I am quite sure Flakeys would not stay silent if he lost the good billions he put into that. I used some IER profits to close it down. Cosmoray "stepped in" for the sake of the bond and personally paid out the bond holders. After the payout that was when "WE" released the collateral.
cosmoray Cosmoray Holdings Corp	Posted - 2011.03.04 02:55:00 - [8] Originally by: Vaerah Vahrokha Originally by: cosmoray I used some IER profits to close it down. Cosmoray "stepped in" for the sake of the bond and personally paid out the bond holders. So, in the end the investment turned out not being a scam in itself and investors did not lose money? If I robbed a bank this week for $75,000, but paid it all back next week do you think I could avoid going to prison for 15 years?
cosmoray Cosmoray Holdings Corp	Posted - 2011.03.04 19:44:00 - [9] Blimey VV do you work for the Pope? Your world sounds awfully perfect without any errors. It must be difficult to step out of the house and deal with the peons who can't survive in your perfect world. Have you ever let your hair down? Laughed when a bird crapped on someone? Got drunk, puked in the street? Found a $10 bill on the street and not immediately handed it to the police or gave it to charity? Isn't it boring living a perfect life?

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