Linden Lab returns stolen LLBT funds | Business

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Linden Lab returns stolen LLBT funds

Written by Xavier Mohr

Sunday, 25 November 2007

L&L Bank and Trust has received L$3.2 million in stolen funds from Linden Lab, according to a post by CEO Lindsay Druart at the SL Capital Exchange.

Per the announcement:

Today, 05:10 LNL L&L Bank and Trust
by Lindsay Druart
Funds Returned by Linden Labs
I have new faith in Linden Labs along with God right now and I am thankful that funds have finally been returned to the bank. We will work diligently today to correct the issue with CDs in the system and will tie up lose ends as well. Prime will be reinstated at 1% and interest will continue starting tomorrow. I honestly did not expect LL to respond this quickly but they did.
The current CDs will be ended and CDs reinstated at those rates up until December 1st so that CDs can be purchase. Operations will begin again within 24 hours hopefully, 72 hours at the most. As long as we can get the server migration done, there should not be a problem. Thank you all for your continued support and I will update the market as we get updates on the criminal charges being filed.
Sincerely,
Lindsay Druart

Stay tuned to SLReports.net for more information.

Comments

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Arnaud - I thought you were kidding but

|2007-11-26 16:35:15

you are not! Whoa, quite an inflammatory post you got there.

Just from a
neutral observor standpoint this is what I see:

1) L&L bank was notified of
abnormal activity by another bank.
2) Lindsay logged in immediately to check
her bank and while logged in caught the thieves "in the act" as it
were.
3) Other banks were being hacked at the same time by the same
avatars.
4) Critical Mass AR's to LL would seem to catch the attention of LL
since they immediately froze the accounts of the Avatars in question.
5) It
took about a week for LL to determine via the frozen accounts the illegal
transactions (apparently, I am only doing some "armchair sleuthing"
here).
6) Once it was determined that none of the banks were involved in the
fraud the money was returned.
7) Tell me about any Criminal Investigation not
yet complete that anybody knows the nitty gritty details!!!! We didn't even
know in the OJ case for goodness sakes! In other words since there are few
details on a possible criminal investigation, that does not surprise me.
(A
side note, I hope LL is succesful in bringing criminal charges, maybe it will
stem this nonsense!)

Either I am all wet or Lindsay is the richest person
that I know of. If she is really lying, then she put up the 11K+ personally,
since her bank is now back in operation. Either way she has proved that she is
above reproach in this matter. I am not hearing of any bank depositers or
shareholders getting screwed here.

Now the other thing you mentioned was the
infamous Brazilian. The reason LL laid off that was that they didn't see any
fraud. They just saw a bad business deal going south! There is a big difference
between the two. I empathize with the Ginko investors, I was one of them. I feel
I got screwed. I always will. But the decision to do what was done was made by
one person, voluntarily. Nick was not hacked, nor were funds stolen from him. He
forsook his fiduciary responsibility and made bad investments thus screwing all
of us.

If you can't see the difference between the two events, then please
let me have the same thing you are smoking! God knows I could use some!

Malignant Narcissist - I don't think so!

|2007-11-26 14:07:43

I don't believe a word of this! Linden Lab did "not" do this!
(http://2ndlifesucks .com/2007/11/26/i-do nt-believe-you-linds ay/)

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