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Loxbourne
Apr 6, 2011

Tomorrow, doom!
But now, tea.

Beer4TheBeerGod posted:

Yeah, isn't that the equivalent of the FCC or the IRS knocking on your door in the US?

Yep. We don't know why they opened an investigation - there's been some unconfirmed speculation about non-payment of VAT - but it sounds like an investigation has been formally launched.

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SurfaceDetail
Feb 17, 2016

by Cowcaster


Ragequit posted:

So the Fellowship of Christian Athletes has their eye on CIG? Very troubling. Very troubling indeed.

They dont take kindly to American Satan

skaboomizzy
Nov 12, 2003

There is nothing I want to be. There is nothing I want to do.
I don't even have an image of what I want to be. I have nothing. All that exists is zero.

I love that :pgabz: is responsible for a $110M video game company changing the way they release their grotesque mockeries of "alpha builds" into the 'verse.

Atheist Sunglasses
Jul 26, 2003

All the candy you want. Crotton crandy, crandy apple. I like to go on the best ride first. Name of roller croaster.



i just read most of that blog entry and i'm not sure what i read besides derek saying that CIG is going to collapse because i said so

sweet E.L.E dude :thumbsup:

SomethingJones
Mar 6, 2016

<3


Loxbourne posted:

That's a big deal.

Right then, goons. Who are the Financial Services Conduct Authority and why should we care?

They're the British government's financial regulator. They handle financial markets, accredit investment businesses, watch over banks and so on. Basically the equivalent of the SEC. They are very serious business indeed, and any sane business will shudder a little at the thought of a FCA visit unless they're a major multinational. CIG are not a major multinational.

So apparently they've "visited" CIG UK. What does that mean? Quite a lot, actually. The FCA investigative manual is a public domain document, and their entire procedure is online here:

https://www.fca.org.uk/static/documents/enforcement-information-guide.pdf

It sounds like they've at least opened an investigation.

It also has some other very important knock-on effects. The first is that it indicates the UK authorities are (currently) considering CIG to be a financial services entity. That could potentially bring CIG UK into the jurisdiction of a bunch of other consumer and industry bodies, particularly the Financial Services Ombudsman. In that case any UK backer could appeal a closed refund request to the FSO, which could get very interesting very quickly.

This is a genuine ELE if the FCA decide to formally prosecute, or issue indictments.

FCA will not and do not gently caress about.

spacetoaster
Feb 10, 2014




Loxbourne posted:

That's a big deal.

This is a genuine ELE if the FCA decide to formally prosecute, or issue indictments.

Maybe that's why Erin was visiting the U.S.

Buying a house for when he escapes the long arm of English law.

Variable 5
Apr 17, 2007
random

Grimey Drawer

A Neurotic Jew posted:

wrong. the FCA involvement is nothing anyone has ever discussed in this thread.

Are you sure? I distinctly remember talk a while back of CIG being late on a bunch of tax filings in the UK that would potentially cause problems. Am I conflating things here?

Edit: This would have been a previous thread.

AP
Jul 12, 2004

One Ring to fool them all
One Ring to find them
One Ring to milk them all
and pockets fully line them


Grimey Drawer

A Neurotic Jew posted:

https://twitter.com/dsmart/status/719920688098910208

highlights
-There are rumors spreading within CIG that Jared is a Derek Smart mole
- Sources close to Chris are saying that the "Evocati" pre-PTU is the result of Chris being utterly embarrassed by funny youtube videos with bugs in them.
- They still havenít filed any of their financials in the UK
- The FCA were the ones who investigated the Gizmondo crack-up.
- There is very clear overlap in employment between Gizmondo and CIG
- There are multiple third-party reports of the FCA paying CIG a visit in the UK.

https://beta.companieshouse.gov.uk/company/08703814
https://beta.companieshouse.gov.uk/company/08815227
https://beta.companieshouse.gov.uk/company/08882924

Basic accounts don't seem overdue to me any longer but maybe taxes are overdue or something. I wonder if Jared is under suspicion because of all the horrible things he said about Sandi Gardiner in private messages.

Sunswipe
Feb 5, 2016

by Fluffdaddy


aleksendr posted:

I would entice you to read a little more about cinema before passing such harsh judgements on Michael Bay and Kubrick, who are both excellent directors with different strong points. Judging films released nearly 30 years aparts (M. Bay first movie, Bad boys, was released in 1995, 2001 released in 1968) to the same cultural standards will get you nowhere.

Get the gently caress out. Michael Bay is the worst thing to happen to this planet.

Scruffpuff
Dec 23, 2015

Fidelity. Wait, was I'm working on again?

skaboomizzy posted:

I love that :pgabz: is responsible for a $110M video game company changing the way they release their grotesque mockeries of "alpha builds" into the 'verse.

It's funny as hell, but this thread has long controlled CIG's policies. That looks so weird when I type it out - but it's true nonetheless.

Daztek
Jun 2, 2006





Scruffpuff posted:

It's funny as hell, but this thread has long controlled CIG's policies. That looks so weird when I type it out - but it's true nonetheless.

We will make Star Citizen great again

big nipples big life
May 12, 2014



Welp, that was indeed a Derek Smart blog post.

spacetoaster
Feb 10, 2014




https://youtu.be/nxTEOyfchP8?t=105

Paramemetic
Sep 29, 2003







Fallen Rib

Ragequit posted:

So the Fellowship of Christian Athletes has their eye on CIG? Very troubling. Very troubling indeed.

Yes basically this

The FCA stuff is a potential ELE. The other thing that he is p clear about is the May 31st TOS expiration but that is nothing new, that is his own pipe dream.

But if FCA is looking at them there are a few possibilities that they are being investigated for either being an unregulated financial service, or that they are being suspected of VAT fraud, or so on.

That they haven't filed their financial records is a matter of public record, for example Derek links to Frontier's financial statements. CIG hasn't, and this is a big sign. We knew about that, but if the FCA stuff plays out, and I don't believe he would've mentioned it if he didn't have a reason to believe it, then it will be a big deal

Like I said, the ELE itself isn't posted in the blog, just the finger pointing to the flavor of ELE we should be watching for.

A Neurotic Jew
Feb 17, 2012

by exmarx


Variable 5 posted:

Are you sure? I distinctly remember talk a while back of CIG being late on a bunch of tax filings in the UK that would potentially cause problems. Am I conflating things here?

yes that was discussed quite often. A visit by the FCA is a whole other level of serious though. See Loxbourne's post.

Dogstoyevsky
Oct 9, 2012

If there is no Dog, everything is permitted

This is what Derek actually says re: the FCA for anyone who doesn't want to slog--

quote:

And now, amid all this, weíre hearing rumors that these folks were apparently over there recently when Erin Roberts was here in the US, and Chris Roberts was over in the UK. It could be anything, or nothing Ė or false. Itís a developing story that Iím following; and canít say anything more than that at this point. But needless to say, those now following the money should be looking closely at where itís coming from, where itís going, and whether they have enough to complete the project or not.

I don't know if Derek is hedging so hard because he has to or what. It's not slam-dunk evidence by any means as presented in the blog, but yeah, I can see it being the (hilarious and satisfying) end to the Star Citizen saga if it were true.

E: typical Derek fare, but he does name a specific regulatory agency
E2: why does the link go to the FSA?

Dogstoyevsky fucked around with this message at 16:42 on Apr 12, 2016

AP
Jul 12, 2004

One Ring to fool them all
One Ring to find them
One Ring to milk them all
and pockets fully line them


Grimey Drawer

Wafflz posted:

Welp, that was indeed a Derek Smart blog post.

Every time I think they're way, waaay too long, I then remember someone might stumble on all this crazy stuff for the first time and needs a good long summary. Lastly I also remember the shitizens, suffering pain at every word and wish it was longer.

flyboi
Oct 13, 2005

agg stop posting


College Slice

Well it'd be hilarious if this does end up being an ELE but as of right now I'm pretty much :flaccid:

Plenty of companies survive a visit from the big bad regulatory agency with a fine and all it means is they'll likely have to refund UK backers which as seen by how insane these people are will still go full burn expecting their dream fidelity to become a reality

big nipples big life
May 12, 2014



Dogstoyevsky posted:

This is what Derek actually says re: the FCA for anyone who doesn't want to slog--


I don't know if Derek is hedging so hard because he has to or what. It's not slam-dunk evidence by any means as presented in the blog, but yeah, I can see it being the (hilarious and satisfying) end to the Star Citizen saga if it were true.

E: typical Derek fare, but he does name a specific regulatory agency

How many times has he hinted that the FTC were investigating them over here but he can't say more because and

theyrefuckedtheendtwoweeks

Loxbourne
Apr 6, 2011

Tomorrow, doom!
But now, tea.

Variable 5 posted:

Are you sure? I distinctly remember talk a while back of CIG being late on a bunch of tax filings in the UK that would potentially cause problems. Am I conflating things here?

That alone wouldn't be enough to get the FCA involved. The worst that overdue accounts can get you is to have your company wound up by Companies House. While that would be hilarious (all that unearned income would have to be returned to the backers, for a start), CH are pretty mellow. CIG would really have to try to get Companies House to start enforcement procedures. FCA is a whole other ballgame.

Smart's blog entry also mentions that CIG UK doesn't appear on the published list of companies currently claiming the UK's games industry tax incentives. That's also interesting. For one thing, those tax incentives were the whole reason Erin supposedly operated in the UK - why didn't they claim them? If they did claim them, why haven't they received them?

The incentives aren't just free - your game has to be vetted and checked up on by the tax authorities, and has to pass a bunch of verification checks. If CIG have failed those checks somehow, or if HMRC have pulled the tax breaks for (e.g.) failing to produce sufficient actual game to qualify, that could well have triggered a referral to the Financial Conduct Authority.

Loxbourne
Apr 6, 2011

Tomorrow, doom!
But now, tea.

Dogstoyevsky posted:

E2: why does the link go to the FSA?

The Financial Services Authority recently changed its name to the Financial Conduct Authority.

Variable 5
Apr 17, 2007
random

Grimey Drawer

Dogstoyevsky posted:

This is what Derek actually says re: the FCA for anyone who doesn't want to slog--


I don't know if Derek is hedging so hard because he has to or what. It's not slam-dunk evidence by any means as presented in the blog, but yeah, I can see it being the (hilarious and satisfying) end to the Star Citizen saga if it were true.

But, really, what's the worst that can happen?
-FCA shuts down the UK offices
-CIG pays out some money
-couple of fall guys serve time
-CR relocates to Hollywood, releases a lovely mocap video game with no gameplay
-CR blames it all on backers not donating enough money for them to pay their taxes


I guess my lovely analogy would be that if the existence of global warming was based solely on it being a winter with record highs. The ELE may or may not be happening, but this blog post is hardly anything new or groundbreaking.

Paramemetic
Sep 29, 2003







Fallen Rib

Derek is in the unfortunate position where the media normally would be and he has to hedge really goddamn hard to cover his rear end. I don't know about any kind of "legal" or whatever, but it is wise of him to hedge hard on that poo poo because this story needs a happy ending. Derek isn't killing SC, CIG is killing SC, but if Derek started doubling down on poo poo like that it could have very serious real world repercussions and he shouldn't want to tangle up in that.

I sort of suspect he's known about this FCA thing for a while and that this small mention, hedged as it is, is his tipping his hand a bit about what he knows without stating it outright, because he realizes he's been effectively blueballing us for weeks now.

The other thing is that the wheels of government turn slowly, and if they are just now starting to look or have opened an investigation but haven't yet indicted, it could be a while before that indictment actually happens. It's the uneasy moment of an investigation where the cops have stopped someone for questioning. You get your phone out to record in case some poo poo Goes Down, but it's still possible that they could go "oh you're not the guy we're looking for go ahead." If you report "hey this guy got arrested" before the charges actually drop, it's got legal repercussions. So even if SCA did visit CIG, until they actually indict, it could go either way, and saying too early "SCA dropped by on them" could go really really wrong.

So even just this statement, hedged as it is, is sticking his neck out a bit.

Gwaihir
Dec 8, 2009



Hair Elf

Variable 5 posted:

But, really, what's the worst that can happen?
-FCA shuts down the UK offices


The UK offices are where most all of the actual work happens (Thanks to Chris being in LA), sooooo that would be pretty gamebreaking.

Chalks
Sep 30, 2009



Variable 5 posted:

But, really, what's the worst that can happen?
-FCA shuts down the UK offices
-CIG pays out some money
-couple of fall guys serve time
-CR relocates to Hollywood, releases a lovely mocap video game with no gameplay
-CR blames it all on backers not donating enough money for them to pay their taxes


I guess my lovely analogy would be that if the existence of global warming was based solely on it being a winter with record highs. The ELE may or may not be happening, but this blog post is hardly anything new or groundbreaking.

- Every gaming news site on the planet runs an article on how they have to shut down one of their offices after a regulator accused them of fraud
- Trust in the project completely disintegrates
- New backers dry up, existing backers start asking serious questions

I mean come on you expect a crowd funded project to have to close down one of their offices due to a fraud investigation and for everyone to just say "welp" and carry on as if nothing happened?

Beer4TheBeerGod
Aug 23, 2004


Exciting Lemon

Scruffpuff posted:

It's funny as hell, but this thread has long controlled CIG's policies. That looks so weird when I type it out - but it's true nonetheless.

After my chat with Sandi CIG banned discussing customer service replies on their internal forums.

peter gabriel
Nov 8, 2011

Hello Commandos


Chalks posted:

- Every gaming news site on the planet runs an article on how they have to shut down one of their offices after a regulator accused them of fraud
- Trust in the project completely disintegrates
- New backers dry up, existing backers start asking serious questions

I mean come on you expect a crowd funded project to have to close down one of their offices due to a fraud investigation and for everyone to just say "welp" and carry on as if nothing happened?

Normally no but this is Citizens we are talking about :v:

A Neurotic Jew
Feb 17, 2012

by exmarx


Variable 5 posted:

But, really, what's the worst that can happen?
-FCA shuts down the UK offices
-CIG pays out some money
-couple of fall guys serve time
-CR relocates to Hollywood, releases a lovely mocap video game with no gameplay
-CR blames it all on backers not donating enough money for them to pay their taxes


I guess my lovely analogy would be that if the existence of global warming was based solely on it being a winter with record highs. The ELE may or may not be happening, but this blog post is hardly anything new or groundbreaking.

look at this post.

just look at it.

spacetoaster
Feb 10, 2014






HOLY COW!!

Beer4TheBeerGod
Aug 23, 2004


Exciting Lemon

If Foundry 42 shuts down then CIG is hosed.

Paramemetic
Sep 29, 2003







Fallen Rib

Variable 5 posted:

But, really, what's the worst that can happen?
-FCA shuts down the UK offices
-CIG pays out some money
-couple of fall guys serve time
-CR relocates to Hollywood, releases a lovely mocap video game with no gameplay
-CR blames it all on backers not donating enough money for them to pay their taxes


I guess my lovely analogy would be that if the existence of global warming was based solely on it being a winter with record highs. The ELE may or may not be happening, but this blog post is hardly anything new or groundbreaking.

Worst that can happen? FCA shuts down the UK offices, freezes their UK assets, prevents transfer of money from UK to US, indicts Chris and Ortwin, triggers a US investigation into the same.

Like I said, though, this blog itself doesn't have the ELE or even the story about the ELE, but it's pointing to the place where you will see the ELE coming if you watch.

Variable 5
Apr 17, 2007
random

Grimey Drawer

Chalks posted:

- Every gaming news site on the planet runs an article on how they have to shut down one of their offices after a regulator accused them of fraud
- Trust in the project completely disintegrates
- New backers dry up, existing backers start asking serious questions

I mean come on you expect a crowd funded project to have to close down one of their offices due to a fraud investigation and for everyone to just say "welp" and carry on as if nothing happened?

Doesn't it take months/years for this kind of investigation to do anything?

peter gabriel posted:

Normally no but this is Citizens we are talking about :v:

This. Brown sea posters will defend this sinking ship to the floor of the ocean. Expect a gofundme page to be set up for CR about twenty minutes after the first press release regarding financial impropriety.

Beer4TheBeerGod
Aug 23, 2004


Exciting Lemon

Variable 5 posted:

Are you sure? I distinctly remember talk a while back of CIG being late on a bunch of tax filings in the UK that would potentially cause problems. Am I conflating things here?

Edit: This would have been a previous thread.

The previous discussions were about the possibility of it being bad. This is on a different level, since it's rumors of people actually visiting the site.

G0RF
Mar 19, 2015

Some galactic defender you are, Space Cadet.


For the record, the Jared-is-a-mole thing is something I find hard to believe.

Maybe I've just missed it but it always just seemed like a thread joke to me, because Jared's crusty and cantankerous personality lent it itself to stereotypes of discontent. He plays comically to the camera with his hilarious stares, he plays The Grump to amusing effect but that just strikes me as a gag he's typecast to play.

I would also note: Jared has done two things worthy of commendation... He threw an elbow in Wulf's direction on a livestream ("Not everything is about ships, Wulf...") and he has on more than one occasion reminded viewers "You don't have to buy more ships". I appreciate any time a CIG employee takes a moment to remind people to not spend recklessly.

Derek hasn't had a history of outing his own leakers and I'm sure he wouldn't do that if Jared were leaking things to him. Yet I know of no other forums or online outlets where unnamed moles are making big reveals not already surfacing here.

The UK audit thing, if true, seems like the big reveal.

G0RF fucked around with this message at 16:53 on Apr 12, 2016

Madcosby
Mar 4, 2003

by FactsAreUseless


Meh

Derek said the FCA business could be happening

its just the same old same old from crazy drunk derek

go home derek

youre drunk

AND BORING

Variable 5
Apr 17, 2007
random

Grimey Drawer

A Neurotic Jew posted:

look at this post.

just look at it.

Sorry if I'm hoping for a bit more than "FCA might be investigating CIG!!11"

skaboomizzy
Nov 12, 2003

There is nothing I want to be. There is nothing I want to do.
I don't even have an image of what I want to be. I have nothing. All that exists is zero.

Scruffpuff posted:

It's funny as hell, but this thread has long controlled CIG's policies. That looks so weird when I type it out - but it's true nonetheless.

It's just a big flashing sign to me that Croberts realizes this is a zombie project. It's a gigantic pile of misfit parts built on a foundation of fever dreams from bunny men, dickwulfs, and B'taks.

I know some people thought he was just in over his head, but still had good intentions. He may have been completely sincere about this project to start, but he's known for a couple years now it was never feasible. The money's running out, and now The Crown is sniffing around. At least he'll still keep his mocap studios, Ortwin will play a good enough shell game to hide the one thing Croberts actually gives a poo poo about.

Kimsemus
Dec 4, 2013

by Reene


Toilet Rascal

G0RF posted:

For the record, the Jared-is-a-mole thing is something I find hard to believe.

Maybe I've just missed it but it always just seemed like a thread joke to me, because Jared's crusty and cantankerous personality lent it itself to stereotypes of discontent. He plays comically to the camera with his hilarious stares, he plays The Grump to amusing effect but that just strikes me as a gag he's typecast to play.

I would also note: Jared has done two things worthy of commendation... He threw an elbow in Wulf's direction on a livestream ("Not everything is about ships, Wulf...") and he has on more than one occasion reminded viewers "You don't have to buy more ships". I appreciate any time a CIG employee takes a moment to remind people to not spend recklessly.

Derek hasn't had a history of outing his own leakers and I'm sure he wouldn't do that if Jared were leaking things to him. Yet I know of no other forums or online outlets where unnamed moles are making big reveals not already surfacing here.

The FCA thing, if true, seems like the big reveal.

I have been furiously F5ing waiting for your megapost. I am no-joke excited to read it because you got angry enough about it to to a Dsmart warning about dropping it last night. :protarget:

A Neurotic Jew
Feb 17, 2012

by exmarx


Variable 5 posted:

Sorry if I'm hoping for a bit more than "FCA might be investigating CIG!!11"

but its a bad post just fyi. If any of those things happened it would be loving hilarious.

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Cao Ni Ma
May 25, 2010





Can our goony tentacles reach F42 and verify the FCA thing? I'm sure we can get one of our guys in but it would be best if we had an agent already embedded.

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