Looks like another Ginko thread :-)

According to the latest blog, LL is going to do nothing about the Ginko fiasco. All investors are officially burned.

What now can depositors do, for restitution?

Click Inventory button

Scroll down to Library folder

Find object: Torch

Right click > Attach

Find person responsible

Spoken like a true Brooklynite.

I took a walk around the grid to
Ease my troubled mind
I left my avi laying somewhere
In the sandbox of time
I watched the prim float to the dark
Side of the moon
I feel there is nothing I can do, yeah

I watched the prim float to the
Dark side of the moon
After all I knew it had to be something
To do with you
I really don't mind what happens now and then
As long I dont find hair or shoes in my end

If I go crazy then will you still
Call me Super(wo)man
If I'm alive and well, will you be
There holding my hand
I'll keep you by my side with
My superhuman might
Brooklynite

You called me strong, you called me weak
But your secrets I will keep
You took for granted all the times I
Never let you down
You stumbled in and bumped your head, if
Not for me then you would be dead
I picked you up and put you back
On solid ground

If I go crazy then will you still
Call me Super(wo)man
If I'm alive and well will you be
There holding my hand
I'll keep you by my side with my
Superhuman might
Brooklynite

Can you provide a link to the blog?

I dont see where they are saying anything new.

Yea, well, I guess I was reaching for a reason to start another Ginko thread

But they do say catagorically that depositors are on their own.

Nice break for the porta-ponzi guy.

True its restating that old quote by Ginsu Linden

Basically why Nick feels he can keep posting his BS and keep in business

Becuase he knows the Lindens arent going to do anything to shut his Ponzi Schemes down.

He knew all along that he was under no regulatory body. Depositors in Ginko knew all along that there was no watchdog regulating the avatars acting in-world as banks. It has been LL's long-standing policy not to intervene in such resident affairs. They don't get your land back for you when a landbot capitalizes on your mistakes, they didn't get your L$ back for you when a casino didn't pay out, and they don't get your L$ back for you when your investments go sour (or turn out not to have been real investments at all).

Rather than thinking to pressure LL to regulate things for us (a thankless task), we should be pressuring LL to provide us with tools to regulate ourselves: ways to voluntarily authenticate our RL identities, ways to place assets in escrow, ways to voluntarily authenticate in-world assets, ways to link alts, ways to restrict the movement of L$, etc. While the average resident may expect privacy and freedom, a resident that wants my trust needs to be transparent and limited.

Except that they do regulate/ban over pyramid schemes and other "obvious" / less institutional scams. Rule of thumb: just because it is institutional doesn't mean it isn't a scam. In fact, some of the biggest scams in history were the largest institutions. Enron, anyone?

So, where exactly does LL draw the line? Well, obviously, they draw the line where it doesn't make any sense (except to them); a scam is OK if you make it look legit. Con Artist 101: Make your scams seem as legit as possible to maximize your take.

They will always draw the line at the point where the authorities will step in. The people with serious losses should consider it.

I will be surprized if anyone actually contacts the authorities on Ginko

Becuase fo three possible receptions by the authorities:

1- That they consider this all fake money and a bit waste of time (hahaha you were scamemd in a video game?)

2- Worse - they consider it real money and consider investments in Ginko as an attempt to shelter investment money from being taxed. (hey wait HES the crook!)

3- The authorities take it seriously but decide the whole mess (virtual investments in a make beleive world) is too shaky to proceed with an international prosecution. (well this is rough - but even if we could find him out of 350 people with that name in San Paulo ..)

Nicks bases are pretty well covered - And im pretty sure thats why he hasnt poofed on us.

They will always draw the line at the point where the authorities will step in.

For people losing petty amounts of cash, I can see #1. But not when he walks with over a quarter of a mil in deposits, and hasn't liquidated the assets and spread them evenly. Ponzi schemes are still illegal. He doesn't think it's a ponzi, and of course he'll reiterate his worthless unqualified statement, but the fact is that the former banking operations all came down to depending on new money to pay out old investors since he wasn't liquidating the assets (the only fair thing to do), as they were such dogs that it would force everyone to take a huge loss. Maybe we'll get lucky and find out that the feds and other international governments are looking into it of their own accord. Not likely, but you never know.

If there's one thing I've learnt from the Ginko saga it's how to link out to a URL directly: just place the web address between tags.

And that's about all I've learnt really.

The requested page does not exist. Please check your URL

I got that message when i tried to visist, can you please check it.

What is it about?

www.irs.gov/compliance/enforcement/article/0,,id=106778,00.html

worked for me, it's an IRS page on how to report suspected tax fraud.

aha thanks, that one worked for some reason.

Subpoena to Linden Lab to release the account details, like in the Sexgen case, should solve that little issue.

Broccoli

I think accusing someone of tax evasion definitely qualifies as a violation of the Private Discussion rule.

*locks*