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Cryptocoins, the first crypto hedge fund bridging euro and Asset Exchange
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Author Topic: Cryptocoins, the first crypto hedge fund bridging euro and Asset Exchange  (Read 53890 times)

CryptKeeper

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The first step we have to do is to announce the financial problem to this office : http://www.fr.ch/opf/fr/pub/index.cfm (for Jean-Laurent) and https://www.zg.ch/behoerden/zivil-und-strafrechtspflege/betreibungsaemter (for Yann)

This step is already a big step because if you announce a dept to this office, it could be a big problem for JL or Yann to find a new apartment, create a new business or find a new job (depend on the job). And the consequences continue after the depts are paid.

IMO such legal consequences are inevitable now, but I like to hear the opinions of the shareholders first. It's sad that we can't reach more of them or maybe they don't care. Until now it's only Ludom, JohnHolmes and CryptKeeper (me) known as shareholders.

@JohnHolmes: what do you think? Should we contact the officials like Ludom proposed?
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CryptKeeper

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Good news!  ;D

Finally and after several attempts, Yann Wahli responded to my emails:

Quote
Mr CryptKeeper,

Following your emails, I have had several phones with Jean-Laurent Tari (DomP). It is over a year since I had not had contact with him and I was totally unaware of the situation.

According to what he told me, money is always on the various accounts that had been created. The concern is that since my departure, Jean-Laurent had family problems and left the fund’s management.

So I took a day free on next Wednesday, and I'll go to Jean-Laurent to help him with the accounting, and put the shares buyback deals at the right price.

I ask you to please wait until next Wednesday, and I guarantee that the offers will be available.

Again my apologies for this situation, and next time, thank you contact me soon, before it degenerates.


Kinds regards,
Yann Wahli

I think it's an honest attempt to fix this issue and we should give him until wednesday/thursday. Then we can see what they can offer us, that is which buy back price they set. If it's too low like the last buy wall, we should not sell into it but demand a detailed report about the loss of funds!

Please tell me your opinion about this, thanks.
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CryptKeeper

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Today I had a phone call with Yann Wahli.

He is still at DoM P's place, helping him recovering the asset fund from various accounts. So far it's looking good: most of the fund is held in cash, a smaller part in bitcoins and various altcoins. They are still managing to access the accounts on bitstamp and bter, because the accounts were locked down. Reaching out to the support was difficult, because the registered emails were still of CFA Consulting and the mail server has been shut down almost a year now. The email issue is now solved so that Yann is expecting access to these accounts soon.

He promised to keep me posted and I strongly believe that he is an earnest and honest guy. So I see good times ahead for us shareholders!  ;D
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CryptKeeper

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Good news from Yann Wahli again:

the issues with the exchanges are solved, the asset fund is now recovered completely and ready for payout.

He told me that the value of the asset is now about 103 EUR per share:)

One problem is that they don't have enough NXT to pay out every shareholder, so Yann's idea is to contact someone from the Nxt community to act as an escrow (I guess someone from the Foundation) who will get the whole fund in bitcoins and distribute it to every shareholder on demand. I second this proposal, to get rid of the money is the best thing for DoM P to do!
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martismartis

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Good news from Yann Wahli again:

the issues with the exchanges are solved, the asset fund is now recovered completely and ready for payout.

He told me that the value of the asset is now about 103 EUR per share:)

One problem is that they don't have enough NXT to pay out every shareholder, so Yann's idea is to contact someone from the Nxt community to act as an escrow (I guess someone from the Foundation) who will get the whole fund in bitcoins and distribute it to every shareholder on demand. I second this proposal, to get rid of the money is the best thing for DoM P to do!

What??? Big dump incoming :)
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TwinWinNerD

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Good news from Yann Wahli again:

the issues with the exchanges are solved, the asset fund is now recovered completely and ready for payout.

He told me that the value of the asset is now about 103 EUR per share:)

One problem is that they don't have enough NXT to pay out every shareholder, so Yann's idea is to contact someone from the Nxt community to act as an escrow (I guess someone from the Foundation) who will get the whole fund in bitcoins and distribute it to every shareholder on demand. I second this proposal, to get rid of the money is the best thing for DoM P to do!

What??? Big dump incoming :)

It will actually go to 12500 NXT or smthg, instead of 5000. but thats because of shitty NXT price, not because of good performance

JohnHolmes

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@JohnHolmes: what do you think? Should we contact the officials like Ludom proposed?

@CryptKeeper, Sorry for late reply (was offline for a while), looks like things have been sorted, thanks so much for getting a result with this one, I was resigned to losing 100% of this investment, so I'm very grateful!!
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CryptKeeper

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Sorry for the silence for more than two weeks!

It seemed to be everything alright with the CryptoCoin payout, but behind the scene, we were trying in vain to contact DoM P by email and on the phone to get him to hand over the asset funds.
EvilDave has agreed to act as the escrow for this but his attempts to contact DoM P has been fruitless as well.
Ludom finally reached DoM P today and he apologized the delay with another "exchange identification issues" (we heard this story before).

I can believe none of this anymore and I think that he lost the last opportunity to come out of this with no legal consequences for him and his former colleagues of CFA Consulting!
IMHO there is not much time left before contacting the legal authorities about it. That's a shame because he could have spared himself and his former colleagues a lot of trouble.
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48uptr9

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I have some CryptoCoins too, is there a chance of getting some back?
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CryptKeeper

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Yesterday we have arranged a payout for three shareholders:

CryptKeeper (myself)
Ludom
JohnHolmes

A friend of DoM P managed the transfer. As EvilDave escrowed this deal, it was successfully completed!

 :)  :)  :)

If another shareholder, who I haven't been able to reach yet, want to get out of CryptoCoin, please don't hesitate to contact me. I'll do my best to help you!
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CryptKeeper

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I have some CryptoCoins too, is there a chance of getting some back?

Are you already registered in nxtchat.slack? If not, please do and contact me there.
https://nxtchat.herokuapp.com
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CryptKeeper

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We've managed to arrange another payout with DoM P!  :)

79.45 CryptoCoin shares have been paid out in total but a lot of unclaimed shares remain!
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