@THCOOL Can you please explain why @ldw116 loan has not been noted for scamming? It has been over 1 week since the due date.

 

IGN: Legotom001
Date joined: 1/14/15
Rank: Mayor
Donor (Y/N): Y (30 usd now, soon to be 45.)
Money requested: 97.5k
Purpose of Loan: To buy a 15 usd donation. (Hope-fully while it is on sale.)
How will you pay back the loan: Cocoa farming, a little bit of eff 7 mining, and voting.
Due date: 2-3 weeks after the money is received.

(On a side note: I would probably be able to pay this back within 1.5-2 weeks, but I put 2-3 weeks for buffer room on my end. [And yes, I do acknowledge that there will probably be an interest rate increase for that.)

 

He has been sent PM's in game and on the forums. We don't like to file complaints instantly.

I can do this. Contact me in game.

 

@legotom001 has borrowed $97,500 with $130,000 due 31st March 2016. Funded by @i8ablu (97.5k)

 

@Arithon has repaid his loan of $875,000 in full. Thankyou :) This was a personal loan.

 

@SonnyCPretzel has borrowed $300,000 with $400,000 due 14th April 2016. Funded by @LordNate ($300k)

 

@HelenDKN and @FFAJdubStompCats are both banned from VoE and all VoE Inc. services for loan scamming. $75,000 was scammed from @WhiteSoxFan123'1 $1,000,000 initial investment, so now only $925,000 is available to loan out using his investment. $100,000 was scammed from @Avowin's $150,000 initial investment, so now only $50,000 is available to loan out using his investment.

Sitw's loan was thankfully refunded, so there is not profit made from that loan but the good news is that no money was lost so it will all be available to loan out once again :). Because of this, I will simply delete the loan altogether from the spreadsheets so it will look as if nothing ever happened. I will be tagging the investors who's money was used for this loan @Silentshot90 and @i8ablu

Id like to remind ALL investors that even though money was scammed, you are still GUARANTEED BACK all of your initial investment money.

Thank you for choosing Vault of ECC​

 

@ThomasVerth has borrowed $310,000 with $400,000 due 9th April 2016. Funded by @LordNate (200k) and @chargers2417 (100k) and @KMaxwell (10k)

 

@Obblebobble @THCOOL So I have a question. If the 100k was scammed and I cannot earn interest on this anymore, are we allowed to get this money back early at all? Because I don't see a point of it to stay in if no interest can be gained on it

 

It's locked until the 2 month date. Reason being is that we take a loss, so instead of you losing all this money, your penalty and only risk is to have it locked away for a while.

Otherwise for example, we have $0 on balance, we take your $1,000,000 loan it, it gets scammed, we have $0 but owe you $1,000,000. We're in trouble, the 2 month lock date is simply for our security in case we cannot afford to pay it back instantly. So we gather the funds and repay later. We're risk free, but we're not nuisance free ;)

 

@Obblebobble @THCOOL thanks for clearing it up. btw I want to put in another 100k because of this ;)

 

We can do this :). I will be online tommorrow, or obble may be online now/soon of you want to invest

 

@Chundi_Jr has invested $300,000. Thankyou!

Can't get back on right now @Avowin

 

Why has my money not been re loaned as of yet? If consent is necessary, you have my word to do so.

 

Sorry have been getting large loans and not focusing on splitting it for those who haven't had a loan out yet. Will fund the next loan that is $50,000 or more with your money. My apologies :)

 

New investments are currently on hold until the current issues are resolved.

Rest assure that all investors besides Ldw116 are guaranteed their money back. Ldw116 will be guaranteed his money back once proof is shown and disputes resolved. Everyone else's money ($10,000,000+) is safe.

 

As said above, we will be putting this on hold. I will not be accepting any new investments at this time. We are sorry for the inconvenience as this was unexpected. If any investors have a real issue with this, please send a forum pm stating your concern/question/comment and please include @Obblebobble, @265, and myself to the conversation. We thank you for everyones cooperation and we hope to resolve this shortly :thumbsup:

 

I'm sorry to hear that someone has spoiled the investment opportunity VoE presents to the community.

I am confident that my investment is secure, with or without a contract, and the accessible spreadsheet is easy to understand, clearly shows were the money is being moved around, to whom it is loaned, the interest expected, etc.

I have been following the current situation with interest, and am, quite frankly, appalled that the complaint(s) have been left open without resolution this long, when everything has been laid out, explained, and rehashed near to death.

 

Thanks for your comments. You get one of my rather rare friendly ratings :) Glad you still trust us, but I believe it is only fair to the public that we put all investments (future ones) on hold until this trust has been re-established. We like to work on an investment system where people can trust us without a single doubt, this complaint prevents that and not everyone has trust like yourself.

As I said earlier, if you told me you didn't have any proof of payment.. I'd still count the investment as legit. Scamming a few million ECD (biggest investor amount atm) is really not worth it... even if I got away with it. Sort of ruins ECC.

 

Quick update, @ldw116 was recently banned for loan scamming. $75,000 was scammed from @Coolslammer3's investment, $15,000 was scammed from @pastimerbucky's investment, and $115,000 was scammed from @matt8865's investment. Unfortunately, this means that @Coolslammer3's entire investment will now be locked until the unlock date and requested back. The same go's for @pastimerbucky's first investment account. @matt8865 now only has $685,000 available to be loaned out and collect interest on as $115,000 was scammed and now locked until the unlock date and requested back. Obble will update with his investors involved with this.

Again, I will remind all investors that even though it was scammed, you are fully guaranteed your initial investments back. Thank you and sorry for this occurance