Nov 27th 2007, 16:56 System Announcement
by Bogart Beck
SL Capital Exchange Seizes Assets for Fraud Fund - 11/27/2007As part of our continuing effort to prevent and mitigate fraudulent securities transactions the SL Capital Exchange moved today against the assets of several Avatars who have recently had their Accounts terminated by Linden Lab.
All seized assets have been placed in custodial care with Bo Beck Group (BBX) acting as Trustee and Bogart Beck acting as Plan Administrator. Such assets will be used to pay claims arising from failed Risk.API transactions or to pay other SL Capital Exchange claimants should the need arise in the future.
At present, the SL Capital Exchange Fraud Fund holds the following Assets;
CASH- L$ 37,797.09
BBX - Bo Beck Group 3,507 shares NPV L$ 8,416.80
KDC - Karlfeldt & Delgado Capital 302,193 shares NPV L$ 217,578.96
NDX - Innovative Index Fund 5,701 shares NPV L$ 18,471.24
SLTM- SL Tronics Media 7,001 shares NPV L$ 8,611.23
VBL - Verballis 4,701 shares NPV L$ 15,043.20
YEP - Yellow Paperclip Corp 40,001 shares NPV L$ 89,602.24
TOTAL ASSETS UNDER MANAGEMENT... NPV L$ 413,992.00
This report will be updated and published monthly, and will be recorded as an OTHER ASSET on the CapEx Balance Sheet, with net earnings recorded as OTHER INCOME on the Income Statment.
BBX earns a monthly Administrative Fee as Trustee of the Fraud Fund equal to the greater of 10% of the Funds Gross Monthly Income or 1.5% of Total Fund Assets. Such Income is reported on the BBX Consolidated Income Statement as part of SERVICES REVENUE.
CEO, SL CapEx