|GemCoin walk of shame.|
It would appear that GemCoin King Steve Chen agrees with Arcadia City Manager Dominic "Easy" Lazzaretto. Apparently The Chenster has been putting the word out through his worldwide network of USFIA related websites that despite what anyone might have been hearing, his current problems are merely a minor legal kerfuffle on the road to international cryptocurrency greatness. Nobody should worry because everything is going to be just fine.
Steve also wants you to know that once all of the disinformation and awful lies about GemCoins and USFIA are fully examined, with all of the unfortunate hearsay dealt with and disposed of by agents from the US Government, everything will return to normal. Here is how Chen's cheerful feelings on the matter are revealed on a website out of France currently covering such matters (link).
(Mod: Just so you know, some question the actual origin of this statement. I personally think it sounds authentic and have chosen to go with it. It is a "calm the herd" sort of thing for Chen to say. For more insight go to the link I provided above and have Google translate that page from French. The context is interesting.)
However, not everyone shares in President Chen's sunny assessment of his current legal situation. Federal government organizations such as the SEC and FBI, which together organized the raid on Arcadia's celebrated GemCoin Palace earlier this week, for all intents and purposes shutting Chen's ponzi operation down, don't appear to agree. Here is how Behind MLM (link) describes that rhythm.
That SEC's roster of complaints goes on for quite a bit longer. Oz on the Behind MLM site has the entire list there. You might want to go and check the rest of it out.
|USFIA security chief Baoping Zhang might want to hold off on celebrating just yet.|
The SEC issued the following press release yesterday (link). I myself do not believe they share in The Chenster's belief that this is all going to wrap up in 13 days. Or that any giddy GemCoin advocates should be popping their champagne corks right about now.
Here is their sober assessment:
The Pasadena Star News has another article up this morning, and I don't think they see Steve Chen's problems ending any time soon. Or, for that matter, Johnny "GemCoins" Wuo's woes, either. It is titled, "Troubles mount for Arcadia company in Gemcoin fraud case."
You can read the rest of this on the Pasadena Star News website by clicking here.
The Los Angeles Times has also piled on the beleaguered GemCoin empire. In an article titled "Federal authorities raid Gemcoin, a digital currency company accused of fraud," they too challenge the notion that this is just a short term review that will quickly result in the exoneration of John Wuo's favorite crypto-currency.
For the rest of the Los Angeles Times article, click here.
I'm not too sure about this one. You just never can find a GemCoin ATM machine when you need one.