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Archive for July, 2007

VB’s primary coverage of the Ginko Financial bank run can be found in two posts below, but there are a few important facts are worth highlighting today. Ginko is, amazingly, having an IPO to try to raise cash. There was actually some limited early activity, but I suspect it was just insiders churning to make [...]

Legal Times (a D.C.-based publication) is running one of the better overview articles I’ve read on law in virtual worlds (free registration required). It doesn’t spend too much time on the D.C. angle, so it’s likely to be interesting to most readers. I am quoted a few times, and the reporter also talked to a [...]

I’ve been capturing data off of Ginko’s website the last two days, and the numbers do not lie. I am convinced that Ginko Financial is a fraud or is negligently managed. The proof is a little complex, but if you are a Ginko investor, reading this is absolutely worth your time. At 6:00 PM SLT [...]

One of Second Life’s high-interest, self-styled “banks,” Ginko Financial, suspended withdrawals this morning. Ginko head ‘Nicholas Portocarrero’ (who has not previously made his real identity public, and declined to do so now) said Ginko clients are unable to withdraw funds because Ginko’s “L$ reserve has been depleted.” He continued, “we are working to replenish it, [...]

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