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Ratjoy.com » Forums » EoS Litigations » Suing: Howard Roark and Galt Industrial Inc.

Suing: Howard Roark and Galt Industrial Inc.

david wile RJ: Noxiousdog CO: Noxiousdog Post Rating: 5 + / - Total Posts: 25 Karma: 51 Joined: Mar 26, 2012	Posted on Apr 16, 2012 I took over GoonPower Inc. this evening and while looking through the books, discovered fraud. Howard Roark performed the following transactions to defraud GPOW investors and enrich Galt Industrial. At 2012-04-16 16:27:01 GPOW purchased 80 units of Silica Sand at $500,000 per unit. Total: 40M. Proper market value: $1.50 per unit or $120. At 2012-04-16 16:26:07 GPOW purchased 200 units of Silica Sand at $500,000 per unit. Total 100M. Proper market value: $1.50 per unit or $300. In addition, GPOW At 2012-04-16 14:34:59 GPOW sold 33,182,295 units of electricity at $0.01 per unit. Total $331,822.95. Proper market value: $0.08 per unit or ~2.65M At 2012-04-16 14:31:23 GPOW sold 75,118 units of Gasoline at $1.35 per unit. Total $101,409.30. Proper market value: Highly variable. Current is $25, but that's almost double my normal b2b cost. Let's say 14 as Frontline bought 106K at $14 recently. Total: ~1M The current GPOW shareholders wish to recover the $143M that was embezzled from the company.
Josh Millard RJ: Tex Corman CO: J. Quaff Arabica Post Rating: 2 + / - Total Posts: 167 Karma: 231 Joined: Apr 3, 2012	Posted on Apr 16, 2012 Howard Roark laughed. He stood naked at the edge of a great big pile of millions and millions of dollars.
eric scott RJ: Erik Scott CO: Sappo Post Rating: 0 + / - Total Posts: 130 Karma: 29 Joined: Apr 5, 2012	Posted on Apr 16, 2012 Just out of curiosity Why is it you massive companies keep hiring nefarious people to run your operations? This is the RL equivalent to running Google , and when the next Board meeting you calmly announce "I am stepping down as of today, taking over will be... the guy I gave $5 to this morning while stopped under the overpass"
Ham K RJ: SoftThenRough CO: Spartacus Post Rating: 1 + / - Total Posts: 41 Karma: 69 Joined: Apr 8, 2012	Posted on Apr 16, 2012 (Last edited on Apr 16, 2012) This was obvious from the revenue sheet, its your fault you didnt bail in time. B2B Purchase: $33.8 M, considering he's only bought 1-2M before yesterday, it was OBVIOUS he was dumping. Next time look at the information given and bail in time Edit: Also the fact that he sold all the buildings should have been a tip off
david wile RJ: Noxiousdog CO: Noxiousdog Post Rating: 3 + / - Total Posts: 25 Karma: 51 Joined: Mar 26, 2012	Posted on Apr 16, 2012 (Last edited on Apr 16, 2012) I actually have little personal harm. I took it over after the damage was done. The transactions were flagged so I looked into them. Ratan told Mortis this was the proper method for grievance. Seems pretty clear. It's a good case study to determine whether embezzlement is allowed or not. I was under the impression it wasn't and that's why certain transactions are flagged in the b2b. If it is allowed ill be changing the relationship of my corps.
Billy Vierra RJ: Saffrian CO: Billy Vierra Post Rating: -1 + / - Total Posts: 84 Karma: 100 Joined: Apr 10, 2012	Posted on Apr 17, 2012 I dunno, as much as espionage / embezzlement sucks, it adds a whole new complexity to the game. You can't just hire anyone to be your CEO, you have to vet them first
Ham K RJ: SoftThenRough CO: Spartacus Post Rating: 2 + / - Total Posts: 41 Karma: 69 Joined: Apr 8, 2012	Posted on Apr 17, 2012 I concue with Billy Vierra, dont hire random people if you dont want them to immediately crash your company and embezzle it. I mean it happens in real life all the time (embezzling), so if u get away with it, well good for you, but if you dont, well you should get slammed
Matthew Suozzo RJ: Buckaroo Bonzai Post Rating: 2 + / - Total Posts: 40 Karma: 51 Joined: Apr 5, 2012	Posted on Apr 17, 2012 (Last edited on Apr 17, 2012) I don't know about you, Ham, but it looks an awful lot like he got caught in this circumstance. I really don't see the issue with punishment given that the game's CEO system is currently built on trust and trust alone. Until more restrictive and stratified positions become a reality, there needs to be proper policing of the corporate world. Even if there is no reimbursement, it is only fair that the perp get "slammed." On a side note, I'm neither directing this at anyone nor trying to be a douche, but can we all use spell-check on our posts and maybe read them once over for clarity?
Scott (Admin) RJ: Ratan Joyce CO: Ratan Joyce Post Rating: 0 + / - Total Posts: 1175 Karma: 5083 Joined: Jan 13, 2012	Posted on Apr 17, 2012 (Last edited on Apr 17, 2012) I've sent secret agents to investigate the case, and they found Noxiousdog's claims to be valid. Unless Howard is able to get a good attorney or come up with a decent amount of bribe money, he's probably looking at a lien placed on Galt Industrial Inc. and/or jail time.
Zack WenJian RJ: Zack CO: Zack Post Rating: 1 + / - Total Posts: 114 Karma: 503 Joined: Mar 31, 2012	Posted on Apr 17, 2012 he can sell all the buildings but the money is still belong to the company. totally legal here. it only cause his share price to fall by doing so. but if he buy sand at $500k each, then he is transferring money to another account. that is illegal.
Scott (Admin) RJ: Ratan Joyce CO: Ratan Joyce Post Rating: 0 + / - Total Posts: 1175 Karma: 5083 Joined: Jan 13, 2012	Posted on Apr 17, 2012 but if he buy sand at $500k each, then he is transferring money to another account. that is illegal. Exactly what happened.
Matt Leitch RJ: Howard Roark Post Rating: 19 + / - Total Posts: 8 Karma: 12 Joined: Apr 4, 2012	Posted on Apr 17, 2012 This is Howard Roark speaking. Before I am vilified any further on this forum and the EOS community please allow me to clarify some facts. I inherited the position Chair & CEO of GoonPower Inc. after a dump and run from its former owner. Its assets consisted of a few buildings, cash and some inventory. At the time I was appointed over 90% of its shares were available on the market. With less than 14% ownership I was by far the largest shareholder (the next closest shareholder represented a fraction of one percent of ownership) That is to say, in the absence of any other significant ownership in the company – I owned the company. I wish to make it known that as Chair & CEO I recognize that my fiduciary duty to shareholders is paramount. In fact it was this responsibility that guided my decision making while in the position with GoonPower Inc. Using my discretion and authority as Chair & CEO and majority owner I proceeded to immediately sell off assets and liquidate the business. My decision to liquidate the company’s assets and redeploy to other investments was absolutely in the best interest of the majority shareholders of GoonPower Inc. As the former majority shareholder I could not be more pleased with the actions of its Management at the time. When I was given the position of Chair & CEO of GoonPower Inc. my first priority was to uphold my responsibility to its shareholders – namely myself. My actions were not in violation of any ‘rules’ or ‘code of coduct’ that I agreed to before playing EOS nor did I have any obligation to benefit unscrupulous speculators that did not conduct proper due diligence before making an investment. Now I am being defamed and degraded by my peers and colleagues on this forum. My reputation has been ruined and my competence as a business leader called into question. Before I stand against allegations of ‘fraud’ and ‘embezzlement’ I ask you – If I was the only significant owner of record at the time from whom did I ‘embezzle’ money? The only thing I am guilty of is failing to make David Wile and other parasites like him instantly rich – and now he has ‘filed a lawsuit’ in Candyland District Court because in his opinion I did not play fair. Better start producing tissues because I predict a spike in demand. David Wile – Time to take your ball and go home before I consider filing a counter suit for libel – Let the big kids play and come back when you don't bruise so easily. Ratan Joyce - I propose this suit be dismissed and I will forgo any future action against David Wile if he issues a public apology on this forum to myself for his unfounded accusations and to the rest of the EOS community for being a complete waste of time. Long live Capitalism. HR.
Scott (Admin) RJ: Ratan Joyce CO: Ratan Joyce Post Rating: 0 + / - Total Posts: 1175 Karma: 5083 Joined: Jan 13, 2012	Posted on Apr 17, 2012 (Last edited on Apr 17, 2012) Dear Howard, I'm glad you showed up, but the official name of the court is the Supreme Court of Econosia, calling it by any other name is a contempt of court. In addition, as the People's Beloved Big Bro, I must express that the vast army of my robotic shareholders do not agree with your statements. Ratan Joyce, PBBB
Minwoo Hyeong RJ: Dead Eyes Post Rating: 9 + / - Total Posts: 8 Karma: 23 Joined: Apr 15, 2012	Posted on Apr 17, 2012 (Last edited on Apr 17, 2012) What's the big deal, anyway? So he transferred a few million dollars from one company to another. How is that so bad? By punishing him we risk losing a clearly intelligent and valuable player to the game and alienating other clever and motivated players. Without Howard and others like him this game will become a wasteland, so leave him be. *shrugs*
david wile RJ: Noxiousdog CO: Noxiousdog Post Rating: 0 + / - Total Posts: 25 Karma: 51 Joined: Mar 26, 2012	Posted on Apr 17, 2012 Howard, brilliant post! Bravo. However, I'm confused about why you think you're being "vilified" or "libeled." I simply told your story and presented the transcript. I made no comment on the morality, so if you feel you're being made a villain, that is some internal guilt. It clearly happened, so it can't be libel. This is simply a business transaction. However, I would welcome a spike in tissue sales, as well as spilled milk as I have a number of stores where they are sold.
Matthew Suozzo RJ: Buckaroo Bonzai Post Rating: 4 + / - Total Posts: 40 Karma: 51 Joined: Apr 5, 2012	Posted on Apr 17, 2012 (Last edited on Apr 17, 2012) I think this was a good step to stem the tides of your vilification but, for your own sake, this would have been much more beneficial to you about 48 hours ago. Now to the charges of fraud and embezzlement. I think you have a solid case that your actions to liquidate assets were, in fact, in the best interest of what you, the chief executive, deemed to be a stagnant company. This alone gives cause to what the owner perceived to be the destruction of his company. I find no fault in your move to act in the best interest of a major shareholder, either. You had the right as the executive and a major investor (maybe not total right but definitely some) to take the company in the direction you saw fit. Before I get to your error, I shall bring the court's attention to the business alliance between Nokia and Microsoft that is just now bearing its first fruits. A former Microsoft Exec, Stephen Elop, was brought on to guide Nokia away from their dumbphone past and into strong position in the smartphone world. The way he did this: Fire people, cancel projects, and throw all of Nokia's weight that remained at Microsoft's Windows Phone platform. Some saw this as cronyism (it probably was) but, as of today, Nokia has a lucrative contract with Microsoft and a strong product line. Now to the connection. This anecdote gives proof that there is a legal way to better position a failing company. Where Microsoft payed Nokia billions, you took millions from GoonPower and gave it to your company. In other words, you took from the dying company to enrich your company and yourself. You should have bought the assets at fair market price (or even at a loss) with your other company if you were so invested in the success of GoonPower. I move that the charges be reduced to 2 counts of embezzlement and money laundering. I still see fault but it is good to hear the events from a different perspective.

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