Market Discussions

Just a quick PSA:

Despite claims by Monkala Demeir in ingame communications to potential investors that his business has been audited by myself, this is not the case. I do not perform audits. What I did in the case of Barclay Hemingway was carry out a basic fact check on the claims made by Monkala in his thread here. Whilst I was able to confirm some of his claims I also found that others misrepresented his situation quite significantly. I informed him that if he were willing to correct those misrepresentations then I would confirm his new, accurate statements. Unfortunately, no correction has been forthcoming and I find I am now being used as a marketing tool despite my conditions not being met.

So, here are the basic results of the fact check:

1) Monkala has been involved in active trading over the first 17 days of this month (up to the date I carried out my fact check).

2) His claim that was not true. 1 bil was the cumulative total amount of investment capital he claimed to have received, including that which had since been withdrawn. He admitted to only having 500mil of investments currently on the books when I discussed the matter with him.

3) His claim that he had turned 600mil into 3.1bil in the two months he had been playing was incorrect. His c. 3.1bil in cash and assets at the time of the fact check included the 500mil in capital received from investors and a further 600mil from the sale of a PLEX. So, the actual figure is a 1.4bil profit, at best, over the stated period, not a 2.5bil profit (a fairly significant difference).

4) This feeds in to a related point - his profit levels were rather lower than represented, with actual profits for the period examined amounting to slightly under 30% a month or a bit less than 1% a day (his mails to investors are currently claiming 3-5% per day). Given that he was offering returns in this range, he would effectively be working for free when trading with investors isk, a very questionable situation that any investor should be aware of. The main point here is that, with recorded profit levels as they were, there would be no gain to Monkala in trading with invested isk, which raises the question of why else he would want to raise that isk.

I thought I should put this information out there given the current situation of his ongoing attempts to raise more isk ingame and his use of my name to do so.

It may also be worth noting that having used my name in this way, any scam would probably also be a breach of the EULA.

Indeed. In my conversations with him I got the sense that the primary issue was an unfamiliarity with the kind of accuracy expected of MD offerings. In a real world scenario, playing a little fast and loose with the truth in order to present the best possible image of one's business is more or less acceptable, within reasonable bounds. The nature of eve being what it is, though, MD has come to treat accuracy as a test of trustworthiness. That's why I encouraged him to correct the errors and give it another go. However, finding that he chose not to correct the inaccuracies in his presentation of his business but, rather. to further compound them by misrepresenting the results of my brief fact-check, I can't help but question whether he is acting in good faith.

If it isn't a EULA violation, it's probably as close as one can come.