@JpThieriot@CredEarn@tribe_leader@ihaveCred@FlareNetworks Please be aware people are getting tied into commitments with no win no fee contingency lawyers. Please act fast and keep us updated every step of the way before we pass the point of no return. We are right on the edge already.
It may "only" be a 80m hole π but for 6000 extremely grateful new customers and the gratitude and goodwill of the entire sector, and the public as whole, it may be good business.
@JoePile5@arrington Did @arrington reply? Their due diligence could assist other Cred creditors in pursuit of their funds and knowing how to proceed in C11.
Had to Google it, "C-suite refers to the executive-level managers within a company ... include chief executive officer (CEO), chief financial officer (CFO), chief operating officer (COO), and chief information officer (CIO)." Entire CRED c-suite on the hook for PERSONAL LIABILITY
"An announcement was made to Cred employees in Oct, but the c-suite was aware of the incident in Aug. From when the fraud was discovered in Aug to notifying the team, Schatt reminded employees that they should continue to add more clients to offset the loss in assets."
Cred disclosed all financial difficulties to potential institutional investors in August, but concealed it from private investors until 27 October! After August, Cred pushed hard for MORE loans from private creditors - increasing rates to 13% - while hiding the truth. #robbery
Tons of new investigative information coming to light about the #CredEarn fiasco. @ihaveCred and @dschatt knew long ago about the problems and have a pattern of hiding it from investors & employees. https://t.co/VhXEJvaoXR
@Mashinsky Any chance of stepping in as a trustee to help fixing the mess created by @ihaveCred and save the face of the crypto industry? After all, it may represent a good business opportunity and it would greatly benefit your company brand.
@JoePile5@ihaveCred I don't know. If Cred can prove its case against JA, all actual losses flow from JA acts and omissions, including fake KYC verification of imposter. There is no default on the moKredit loan.
@UpholdInc Missing the point. If you succeed, you are awarded damages from an insolvent company. You join the list of creditors. Just another mouth to feed. How do you intend to increase the total funds available to the creditors or this irrelevant to you? Maybe it's just about appearances?
@dschatt@ihaveCred CRED'S CLAIMS:
8. Funds are swept to one of our custodians who have their own individual insurance policies. BitGo & Bittrex being our two largest partners
Regulatory:
Cred take a conservative approach to compliance with all local lending laws in jurisdictions where we operate
@dschatt@ihaveCred CRED'S CLAIMS:
9. .Β We have a compliance team and periodic outside audits.Β Our service providers include top legal, consulting, servicing and other.