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30b fully collaterized loan @ 1.9%, 6 months
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Sabriz Adoudel
Move along there is nothing here
#61 - 2016-02-25 00:51:47 UTC
Vanaunge wrote:
Just to clear things up guys, I am not an alt of wreck 21. I filled the loan and a few days later recieved an offer I couldn't refuse in the end and asked to be withdrawn. I would like for MY reputation to remain intact. As I may one day need a loan.


Not sure how useful this is to Vanaunge, but I've dealt with him in a loan where he could have screwed me for a bit under a billion by refusing to return collateral that had appreciated in value. Specifically 45000 units of Robotics that were held as collateral for a 3b loan and that were worth around 3.8b at the time the loan was repaid.

He elected to preserve his integrity by contracting back the collateral as per our loan terms.

So I personally *would* trust him on amounts in the 1 billion range with just his reputation as collateral.

If you wish to perform due dilligence on this information you can search our contract histories and the forum thread for my loan request.

I support the New Order and CODE. alliance. www.minerbumping.com
Vanaunge
Doomheim
#62 - 2016-02-25 02:44:24 UTC
Sabriz Adoudel wrote:
Vanaunge wrote:
Just to clear things up guys, I am not an alt of wreck 21. I filled the loan and a few days later recieved an offer I couldn't refuse in the end and asked to be withdrawn. I would like for MY reputation to remain intact. As I may one day need a loan.


Not sure how useful this is to Vanaunge, but I've dealt with him in a loan where he could have screwed me for a bit under a billion by refusing to return collateral that had appreciated in value. Specifically 45000 units of Robotics that were held as collateral for a 3b loan and that were worth around 3.8b at the time the loan was repaid.

He elected to preserve his integrity by contracting back the collateral as per our loan terms.

So I personally *would* trust him on amounts in the 1 billion range with just his reputation as collateral.

If you wish to perform due dilligence on this information you can search our contract histories and the forum thread for my loan request.



To me personally my reputation is more important to me than isk. I don't play this game to be rich. I play this game for the people
Jerry T Pepridge
Meta Game Analysis and Investment INC.
#63 - 2016-02-25 03:07:20 UTC
Sabriz Adoudel wrote:
Vanaunge wrote:
Just to clear things up guys, I am not an alt of wreck 21. I filled the loan and a few days later recieved an offer I couldn't refuse in the end and asked to be withdrawn. I would like for MY reputation to remain intact. As I may one day need a loan.


Not sure how useful this is to Vanaunge, but I've dealt with him in a loan where he could have screwed me for a bit under a billion by refusing to return collateral that had appreciated in value. Specifically 45000 units of Robotics that were held as collateral for a 3b loan and that were worth around 3.8b at the time the loan was repaid.

He elected to preserve his integrity by contracting back the collateral as per our loan terms.

So I personally *would* trust him on amounts in the 1 billion range with just his reputation as collateral.

If you wish to perform due dilligence on this information you can search our contract histories and the forum thread for my loan request.


one alt says to another alt

tl:dr i think you op & vanage are the same

@JerryTPepridge
Sabriz Adoudel
Move along there is nothing here
#64 - 2016-02-25 05:28:38 UTC  |  Edited by: Sabriz Adoudel
Vanaunge wrote:


To me personally my reputation is more important to me than isk. I don't play this game to be rich. I play this game for the people



After I post a vouch for your trustworthiness (on low 10 figure sums) you then post the ultimate red flag line: "To me personally my reputation is more important to me than isk."

I considered offering opsec consulting services at one point and the second most immediate opsec redflag I'd have instructed clients would have been "Never trust anyone that says they don't put ISK first."

Either they are lying and you are about to be fleeced, or they are telling the truth and you are about to recruit someone that lacks initiative and cunning.


(The first opsec red flag, of course, is someone who gained their first quarter billion ISK via methods that are incongruent with their disclosed number of accounts.)



Edit: Jerry, I have one public alt (iPod Blues) and four broadly unknown semi-active alts (plus 2 characters on an unsubbed account). There has been exactly one instance of one of them being identified as me and it was a while ago .

You, sir, got this one wrong. Again.

But keep trying. Some clever research into posting styles helped unmask "Blueprint Seller" as Bad Bobby a while back - maybe you'll dig up something about me.

And if not, I can think of more obnoxious things you can do with your time on the forums than reading a bunch of my old posts and looking for patterns.

I support the New Order and CODE. alliance. www.minerbumping.com
Droodid
Antec Enterprises
#65 - 2016-02-25 21:29:53 UTC
Edwin Rothbard wrote:
wreck 21 wrote:
If you guys get this worked up about someone defaulting on a 30b loan secured @ 110%, I can't imagine how you cope with witnessing actual abuse of power.


At no point was the collateral worth 110% of the loan amount. That's not your problem though as that falls on the investors for failure to perform their own due diligence. For those who think that was Grendell's job I would like to point out that in most real-world transactions involving escrow the escrow merely holds the goods, they do not provide due diligence. It's still up to the investors to do their homework.


To be fair I did as much due diligence as I could. Grendell wouldn't tell me what the collateral was, which is fair enough I wouldn't expect him to. Unlike in the "real world", he confirmed that the valuation of the collateral was correct.

Please tell me exactly what else I could have done besides getting in touch with the third party and specifically checking the value of the collateral? Was I supposed to just assume that Grendell was lying to me about the value?
Vanaunge
Doomheim
#66 - 2016-02-25 23:46:52 UTC
Tbh there is nothing you could really do. Grendal does not have to reveal what the collertal is. And according to the market his calculations were correct. However he maybe should have thought about the fact that they were permanent skins for domis. But even still. Everyone did what they could. No one is really at fault but wreck21
wreck 21
Doomheim
#67 - 2016-02-26 18:07:48 UTC
Jerry T Pepridge wrote:


one alt says to another alt

tl:dr i think you op & vanage are the same


I'm not entirely convinced you aren't one of my alts too. Can you prove otherwise?
Bumblefck
Kerensky Initiatives
#68 - 2016-02-26 18:42:51 UTC
Sabriz Adoudel wrote:

But keep trying. Some clever research into posting styles helped unmask "Blueprint Seller" as Bad Bobby a while back - maybe you'll dig up something about me.





I was wondering why that character had put a 50m bounty on me a while back. I guess I rubbed him the wrong way, and yet he couldn't even place the bounty with his main character. Bit sad, really.

Perfection is a dish best served like wasabi .

Bumble's Space Log
Grendell
Technologies Unlimited
#69 - 2016-03-07 16:03:31 UTC
Small update, liquidation is underway. Will send the liquidate isk once all sales have been completed.

◄[♥]►3rd Party Service◄[♥]►

♥ Securing Peace of mind ♥
Grendell
Technologies Unlimited
#70 - 2016-04-11 14:57:49 UTC
Update time! While I've already started liquidation, it is taking time due to my limited play time. I'm also having a great day so I'm feeling generous.Lol

With that in mind I'll be making an offer to the lenders to receive 50% of the isk and split the collateral. So you'll essentially all be making money on this. Let me know via evemail if you'd like to go through with that offer.

◄[♥]►3rd Party Service◄[♥]►

♥ Securing Peace of mind ♥
Grendell
Technologies Unlimited
#71 - 2016-06-01 21:19:51 UTC
Made some deals and has some sales, in the end came up short of the remaining funds to cover the initial amount. In a good mood today so decided to cover the missing 1b :)


All is fully repaid.

◄[♥]►3rd Party Service◄[♥]►

♥ Securing Peace of mind ♥