What Is The Update On The BetIslands Fiasco???

[bubba]

I didn't know that SBR was a licensed and certified auditing firm.

they are not but its a fair analogy. the only difference is enron's business could have gotten off the ground without the help of any accounting firm. betislands was actually nothing at all without sbr. nothing.

[orisbumplut]

It is a poor analogy. AA sole purpose and duty was to corroborate and certify that the books were legit. They failed totally. SBRs job was to give an opinion and a grade to BI which they did .

[touchback]

HHHMMMM... well I do believe it is a good comparison if you use the AAA rated mortgage securities bundles that were given out which actually consisted of dog sh1t... Yes, a much better comarison... BI received a AAA (or B+ in this case) rating and was actually dog sh1t...

[sneak-a-peak]

this will be the billionth time that i say it

sbr lied about bi and ezstreet(a scam book) having no relationship when in fact they were run by the same people from the same building, this alone makes them responsible for any money ever deposited to BI by sbr members

sbr misguided people by telling them the financial backer of betislands was not arrested when in fact he was

sbr knew the financial trouble bi was in at least a month prior to the collapse, probably at least 2-3 months before, but still kept vouching for them

the last two make them responsible for all deposits made in the 2-3 months prior to collapse


hype didnt start by the posters, hype was started by sbr and the dumb posters were brainwashed into worshiping bi like a cult, and sbr was the cult leader, and now they want to get out squicky clean by telling the poster 'well you drunk the coolaid so its not my fault, even if i tricked you into drinking it'

This post sums it all up

sbr failed to acknowledge some pretty important info about the book which is why personally i am out 18k

i made these winning bets in nov and dec. if i had known the truth that was being covered up here i could have placed the wagers elsewhere

so fukk off all you new know it alls and haters

[Peregrine Stoop]

Noticing that some in this thread are quick to assume that SBR and BetIslands are not one in the same... I'm unsure if this is really the case. From the outside, it seems like the same group of people (as well as those at EZSt and 7Red).