Record: Jibfest loans for Auctions (in Public Record)

Instead of making several public records, i'm putting them all in one post.

Loans refer to this post and terms posted on it

1. Jibfest loaning Max 6M according terms put on above thread.
2. Jibfest loaning Emmett 4M.
-- Emmett agrees not to take any other loans.
-- If emmett takes any loans before paying off this loan, he will owe 25% per week starting from day of loan.

Confirmed

agreed

lol nice.....25%

ya only if i take out another loan

describe heavy :) is 20 mil too much >?:D

emmett want a loan?

Loan to Almuric: $6M

I agree to the terms for the $6 mil.

Loaning 3M to Krasko. Same terms.

From: Nixon Jibfest Sent: 12:14 AM EDT Delivered: 7:31 AM EDT
repay the 6M loan+interest for the elbow auction to sirbubble's character, Delian Vault.

$6,000,000 x .08 = $480,000

[EG] Almuric (almuric) 198.74.20.75 SirBubbleWrap (Delian Vault) $6480000 -- nixon loan payoff 11:32 AM EDT

Loan paid in full. Thanks.

1. Max owes 5.8M + 8% = $6,264,000

2. Emmett owes 4M + 1% = $4,040,000

3. Almuric owes $0

4. Krasko owes $3M

Make all payments to Delian Vault (sirbubblewrap's character).

From: Nixon Jibfest Sent: 12:42 PM EDT
send the 3M to Delian Vault, sirbubblewraps character.
3mil*0.08=240k
krasko (Good Guy) 84.242.152.15 SirBubbleWrap (Delian Vault) $3240000 1:07 PM EDT
loan paid

4. If you use the loan for anything else, your interest will be 25% per weekly starting retroactively from start of loan.

Emmett seems to have broken the terms of this loan. The loan was for the ELS and ELBow auction only. Those auctions are long past and no repayment has been made. He has since used the money to buy other items from Sefton. Per agreement, his loan rate is now 25% per week.

Loan: $4,000,000
Interest: $1,000,000
Total: $5,000,000

He also broke term #5

5. If you lose the auction, you must pay back immediately with 1% interest.

im sorry wasnt on and forgot i needed to send it back will send shortly

As of 9:51PM, it will have been a week. 2nd week interest kicks in.


Loan: $5,000,000
Interest:$1,250,000
Total: $ 6,250,000

emmett (Brute) 152.163.100.71 Nixon Jibfest (RailRider) $4040000 11:46 PM EDT

Emmett, it appears that Nixon is correct on both counts.

Thanks for the confirmation, Max.

Just for the record
If it were just the case that Emmett simply forgot to pay back the loan immediately after the end of the auction, a deal may have been struck. This was clearly not the case though. His xfer log indicates three large transactions in which Emmett used the money to buy bulk rares from Todd and Sefton. He then posted those items on sale in forums.

Emmetts Sales Posts (items purchased using money from the loan):
http://www.carnageblender.com/bboard/q-and-a-fetch-msg.tcl?msg_id=001MQB
http://www.carnageblender.com/bboard/q-and-a-fetch-msg.tcl?msg_id=001Ma2
http://www.carnageblender.com/bboard/q-and-a-fetch-msg.tcl?msg_id=001MWa
http://www.carnageblender.com/bboard/q-and-a-fetch-msg.tcl?msg_id=001M26

Loan: $ 6,250,000
Payment: $4,040,000
Debt Remaining: 2,210,000

Emmett, want a loan?


Yes, I'm being a wise......

Emmett, I am waiting for you to respond to my chatmail regarding the loan and your attempt to deny the money you owe Jib.