CGI Takes the Money and runs

Has anyone seen this yet?

http://www.vstex.net/?p=103&id=8

Why do people fall for these fake bank schemes?

CGI? Is that Ginko?

Why they fall for it? Pretty simple:

greed, stupidity, our upbringing in RL telling us that Banks are about the most respected and safest thing in the world, people not knowing that LL doesn't monitor such things and ...... did i mention greed?

CGI = Countless Galaxies, a SIM development company.

I've had dealings with Jasper a few times, mainly when me and a friend rented some land from him while we saved up to buy a nice plot of our own, and quite honestly this news doesn't surprise me at all.

I won't go making personal remarks about him, but I had a feeling something like this would happen sooner or later.

Yes, do a search for KFM, Kristatos Fashion Mall. Lots of us lost money, some got paid back by Jasper, after Teanna Nomura sold the land and took off with all the money over night.

My "trusted people" list for SL is getting smaller and smaller and smaller.

I think version 1.07.24c of the SL viewer had a "trusted people" button but LL dropped the feature 'cause no-one could really use it.

Wow, a two-page-wonder flash website.

Hmmmm. I'm renting in a cgi owned storefront. Rent is pretty good. There were a lot of empty storefronts in the other cgi areas though. Ugh....

Well theres also the fact that other people Recomend these banks.

Theres a definite word of mouth trust situation that takes place.

And using the word "bank" fools some less streetwise people.

I'm gonna set up a paper bag on one of my plots. This paper bag will simply have the word "BANK" handwritten on it. Like most SL "banks", "The Bank of Teeny" will be uninsured and basically have a ridiculously generous return on all deposits. I will track all "accounts" using a pen and a Post-It notepad. I think this is a solid business plan, and all "investors" will see huge returns on their deposits. It's a solid plan.

Just put a "Bank" texture on a tipjar.

Pretty much amounts to the same thing.

LOL,

I'm gonna do that

"There's a Sucker Born Every Minute"

Phineas T. Barnum.

Angel.

Actually it is believed Barnum didn't say that, but it was atrributed to him by a competitor, trying to make him look bad.

I border them on one of my Sims.
Not my favorite neighbor. Never says hello back, never answers note card or IMs
They invested in prefab "communities"
Not the most attractive builds I have seen in SL

As for their investments...seems at best they have about a 15% occupancy rate.
Not enough to cover tier, never mind, repay investors.

-- Why anyone would use an Inworld bank is beyond me --

Jasper Tizzy is the guy who claimed to have the first real life mastercard in SL, and that you could somehow add funds and take out funds through an inworld atm machine.

I didnt look into this all too much to know just whats going on but awhile back the owner of "KFM" approached me and offered me free rent at their mall for a month - So I have a small shop there.

Is this a scam artist or should I not be concerned unless I was associated with this bank........?


ETA- Oh, i guess the KFM has been sold? I should be expecting some items in my lost and found folder, then.

Has anyone actually lost money through this bank apart from shareholders?

From what I read it sounds like all depositors got their money back but only because the assets of CGI were sold to cover deposits, so the losers this time are the investors of CGI.

It also seemed like there was a possibility one of the major shareholders could step in salvage the company too, is this still the case?