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/biz/ - Business & Finance

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11488420 No.11488420 [Reply] [Original]

We have a problem and we need the crypto media to step in.

Constellation Labs is a San Francisco based team that raised $33 Million USD in early 2018. It was the usual ICO project, raise capital and try to develop the business model you promised.
About a 3 months ago the visionary founder and CEO Brendan Playford disappeared from all communications. Investor began asking questions and the team said they cannot comment at this time but would give an update in 2 weeks.
Weeks passed and no update. A Silicon Valley insider anonymously explained what happened, that the CEO was day trading investor funds and the team themselves were day trading investor funds and speculating on crypto currency with the capital they raised.
The allegations were brought to the team about a month ago and the team refused to answer if this was true or not. They said they wouldnt be commenting on the CEO at all, but investors pressed them to just give a Yes/No answer on if he was day trading with investor funds. The team refused to answer but promised it would give a detailed announcement in 2 weeks.

That was 4 weeks ago. Since that time they team is banning anyone who asks about their CEO and scrubbing their TG of any discussion about the day trading allegations.
Now their paid trolls are making up less serious fake allegations (team using cocaine, etc) to provide cover for the day trading scheme. They are now claiming there are too many fake allegations and so they shouldnt have to answer any of them.
Meanwhile the investors are getting fucked, the team is laughing all the way to the bank, and they arent being held accountable.
We need a reporter to go an ask them to make an official statement that their CEO was or was not day trading investor funds. As investors, we need to know if they just pissed away all our hard earned money. Because the team refuses to comment, we really have no other choice.
Do any of you anons have connections in the media?

>> No.11488523

bumping to help with your cause

what was their project supposed to do?

>> No.11488557

>>11488420
Something has to be done. What other recourse does an investor have? Everyone wants to know, they won't answer and even spread misinformation to cover their tracks. I've been watching since the beginning and this project has spiralled out of control. The community is toxic, attacking anyone who asks about the day trading stuff. The team let's them do this and doesn't say a word to stop it.

>> No.11488603

>>11488420
bump

>> No.11488638

>>11488523
DAG project in general, claiming they are making the next internet. They cant without a big amount of capital, and it looks like its all but confirmed they pissed away most of it.
There is a big group of investors that want answers, but they team has been delaying and avoiding questions about the CEO and trading allegations for over a month. We have nowhere else to turn except the media. Do you have any contacts?

>> No.11488664

>>11488420
bumpity bump

>> No.11488681

>>11488638
What are the options? Media contacts them and runs a story? SEC reporting? Not sure what can be done at this point. A media story would be best because it would force them to answer or plead the 5th. They claim they can't answer for legal reasons which makes them look even more guilty but I don't believe it's true. I think they choose not to answer for self preservation.

>> No.11488721

Something else that concerns me is their Orion Portal. For those that dont know, its a way for community members to earn some free coin by going out and supporting Constellation Labs in the community and crypto space in general. But it has morphed into a paid shill army of misinformation and misdirection to enable the team to avoid answering investor questions about legal issues that could negatively impact their company. There is no way this is legal.

>> No.11488783

>>11488681
SEC if what you're saying is true.

>> No.11488791

or CFTC

>> No.11488845

>>11488791
Anyone who follows DAG knows everything said here is true.
I wonder what happens, would they just seize their accounts and allow a class action suit against them for investor fraud?

>> No.11488848

>>11488638
Sorry bud, not really. Try spamming reddit crypto with it, it's what I would do. I'll upboat you

>> No.11488860

>>11488420
Thanks for helping accumulate, you’re doing gods work anon

>> No.11488952

>>11488860
Yeah as expected, the bag holder bingo champions have arrived to explain why all the terrible things Constellation Labs is doing are actually great for the community.
And no you are not accumulating anything, there is no volume to accumulate. Check the bagholder bingo card for something not provably false and try again in a few minutes.

>> No.11488971

>>11488845
something like that.
https://www.ccn.com/u-s-court-grants-cftc-request-to-sue-6-million-crypto-fraud/
https://cointelegraph.com/news/us-sec-seeks-sanctions-against-individuals-behind-alleged-crypto-scam-plexcoin

>> No.11488974

>>11488848
Thanks, I think that would get some movement.

>> No.11489001

>>11488971
This one isnt really a scam, its just an amatuer team being irresponsible with investor funds and manipulating information to make things seem like nothing happened. I would assume that is violation of SEC laws?

>> No.11489010
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11489010

>>11488420
>Constellation Labs
>Our Partners: TLDR Capital
mfw TLDR capital loses it's funds

>> No.11489029

>>11489001
>This one isnt really a scam
> its just an amatuer team being irresponsible with investor funds and manipulating information to make things seem like nothing happened.
:^)

>> No.11489056

>>11489010
TLDR is an advisor, they arent investors and arent losing funds. Although the tokens they received as advisors will be worthless, its not far off from worthless right now.

>> No.11489087

>>11489001
This is true, I don't think they set out to scam anyone. It looks like they just suck at business and managing a huge amount of money. Chugging the koolaid of crypto day trading in a bear market. They lost millions and don't want to admit it. Not a scam but a clear violation of the SEC and totally fucks their investors.

>> No.11489258

Bump

>> No.11489270

>>11488420
bump

>> No.11489822

>>11488420
Good luck OP. Hope these dirtbags get held to account for being wreckless. Who could have guessed giving greenhorn shitstains millions of dollars to build complex systems wasn't going to work?

>> No.11489937

>>11488845
Literally everyone. It's astonishing the team has been able to go this long without an announcement on the day trading. The price fell about 40% because of the fud and from what I understand they aren't going to discuss it. Hope media or SEC brings the pain