'halvarez' at Snapnames auctions uncovered - Page 8

bmugford · 11-04-2009, 05:48 PM

Yeah, the red flags have been there for years. It was either a coverup, or flat out negligence that lead to this.

When this story broke I was about 99% sure it was "Halvarez" before it was announced. Why is it so many domainers brought up this possibility for years, but SnapNames.com was so blind to it.

This story is not going away. Minute by minute it is getting worse for SnapNames

Brad

Originally Posted by Acroplex

Brad, the trick was known for months; he would carpet-bid in auctions that had bids, taking advantage of knowing the EXACT time of an auction start. It smelled like an inside job from the get-go but Snapnames DEFENDED "halvarez" as a big customer all along.

Acroplex · 11-04-2009, 05:48 PM

I have spent about $10,000 at Snapnames since 2005. Imagine the totals for domainers around the world: millions of dollars. This is the tip of the iceberg; apparently someone "whistled" the information. My opinion is that he did not act alone. Someone leaked the info "upstairs" when they had no reason to keep quiet - usually after they got fired.

GF · 11-04-2009, 05:50 PM

Originally Posted by Acroplex

I have spent about $10,000 at Snapnames since 2005. Imagine the totals for domainers around the world: millions of dollars. This is the tip of the iceberg; apparently someone "whistled" the information. My opinion is that he did not act alone. Someone leaked the info "upstairs" when they had no reason to keep quiet - usually after they got fired.

I also got suspicious of the same thing when they said that he was getting some sort of price break after the auction closed. Was someone in on it there?
????: NamePros.com http://www.namepros.com/domain-name-discussion/621078-halvarez-at-snapnames-auctions-uncovered.html

Yikes...

cmason · 11-04-2009, 05:52 PM

Originally Posted by Acroplex

I have spent about $10,000 at Snapnames since 2005. Imagine the totals for domainers around the world: millions of dollars. This is the tip of the iceberg; apparently someone "whistled" the information. My opinion is that he did not act alone. Someone leaked the info "upstairs" when they had no reason to keep quiet - usually after they got fired.

Exactly! With this guy being a major shareholder before the Oversee sale there is the whole issue of using shill bidding to inflate the value of SnapNames. To me it looks like the previous directors/powers of SnapNames screwed Oversee. (I don't know a lot about the acquisition, so this is just my though..)

deb · 11-04-2009, 05:52 PM

What will the Movie be Called?

Acroplex · 11-04-2009, 05:53 PM

The true aspect of fraud at such a scale is huge. It involves several departments: finance, programming, middle management. Nelson Brady was a VP - full control of operations. At this point, Snapnames does not belong to those that cheated domainers out of millions of dollars, however they have a reputation to uphold as Oversee.

---------- Post added at 07:53 PM ---------- Previous post was at 07:53 PM ----------

Originally Posted by deb

What will the Movie be Called?

"Nelson and Bubba share a bar of soap"

bmugford · 11-04-2009, 05:54 PM

This makes me question the integrity of any company under the Oversee.net umbrella. It would be just as easy to shill live events.

I have a very hard time believing this information came out from the goodness of their hearts. It is straight damage control. I am sure there will be more to this as it unfolds.

Brad

MicroGuy · 11-04-2009, 05:54 PM

I think Snapnames will need to change their name for damage control. The current named will be forever tarnished.

bmugford · 11-04-2009, 05:55 PM

How about SwapNames.com? LOL

Brad

Originally Posted by MicroGuy

I think Snapnames will need to change their name for damage control. The current named will be forever tarnished.

MicroGuy · 11-04-2009, 05:59 PM

Originally Posted by bmugford

How about SwapNames.com? LOL

Brad

How about SOAPDROP.COM. Lol.

DotsNews · 11-04-2009, 06:00 PM

Is "shill bidder" the best way to describe halvarez? A shill is someone who is trying to get people to bid, but halvarez was actually trying to win the auctions.

deb · 11-04-2009, 06:02 PM

Originally Posted by DotsNews

Is "shill bidder" the best way to describe halvarez? A shill is someone who is trying to get people to bid, but halvarez was actually trying to win the auctions.

Who was he working with?

bmugford · 11-04-2009, 06:03 PM

It was flat out criminal fraud on a massive scale. He was not only a shill bidder.

Brad

Originally Posted by DotsNews

Is "shill bidder" the best way to describe halvarez? A shill is someone who is trying to get people to bid, but halvarez was actually trying to win the auctions.

DotsNews · 11-04-2009, 06:04 PM

I think he was just working for himself. At least no one else has been identified for their involvement.

Originally Posted by deb

Who was he working with?

Acroplex · 11-04-2009, 06:05 PM

Originally Posted by DotsNews

Is "shill bidder" the best way to describe halvarez? A shill is someone who is trying to get people to bid, but halvarez was actually trying to win the auctions.

Halvarez was acting on multiple fronts:
????: NamePros.com http://www.namepros.com/showthread.php?t=621078

A shill bidder, driving up the price of auctions by hundreds and thousands of dollars.
A carrot-stick holder, kick-starting auctions that had 1 bid.
A money launderer, for getting refunds for domains he had won, and thus:
A thief, for stealing money from his own employer.

snoop · 11-04-2009, 06:06 PM

Originally Posted by cmason

Personally, I think that SnapNames is taking the appropriate action to correct the fraudulent bidding. It is a shame that it took this long, but the initial press release has been quite open. There is no doubt in my mind that this is going to be quite costly for SnapNames, but again, it is needed action.

Are you Mason Cole who was Vice President of Snapnames at the time?

MicroGuy · 11-04-2009, 06:08 PM

Originally Posted by DotsNews

I think he was just working for himself. At least no one else has been identified for their involvement.

It was shill bidding, he only won a small percentage of the auctions. His compensation may have been based in part on sales providing the motivation. I seriously doubt he acted alone and certainly don't believe anything that Snapnames has to say on the subject.

deb · 11-04-2009, 06:09 PM

Originally Posted by DotsNews

I think he was just working for himself. At least no one else has been identified for their involvement.

Bernie Madoff was working for himself as well?
????: NamePros.com http://www.namepros.com/showthread.php?t=621078

I think there are more people who knew about it even if they were not involved...its too big and went on for 4+ years and was Beneficial to too many Snapnames Employees and Shareholders to be Outed.

It is Greed Driven Fraud imo

cmason · 11-04-2009, 06:13 PM

Originally Posted by snoop

Are you Mason Cole who was Vice President of Snapnames at the time?

I am not Mason Cole, but funny enough my name is Cole Mason. I have received quite a few messages today, but I have no affiliation with SnapNames whatsoever.

pixelhero · 11-04-2009, 06:20 PM

8 pages and counting. This thread will be dead in a week once the hype blows over.

Hi btw MicroGuy. =]

deb · 11-04-2009, 06:21 PM

Originally Posted by Acroplex

Halvarez was acting on multiple fronts:
????: NamePros.com http://www.namepros.com/showthread.php?t=621078

A shill bidder, driving up the price of auctions by hundreds and thousands of dollars.
A carrot-stick holder, kick-starting auctions that had 1 bid.
A money launderer, for getting refunds for domains he had won, and thus:
A thief, for stealing money from his own employer.

Exactly....

I wonder what Nelson's side of the story is.....should be a good read

CureCancer · 11-04-2009, 06:22 PM

Originally Posted by Acroplex

Halvarez was acting on multiple fronts:
????: NamePros.com http://www.namepros.com/showthread.php?t=621078

A shill bidder, driving up the price of auctions by hundreds and thousands of dollars.
A carrot-stick holder, kick-starting auctions that had 1 bid.
A money launderer, for getting refunds for domains he had won, and thus:
A thief, for stealing money from his own employer.

WoW

Jaco · 11-04-2009, 06:25 PM

Originally Posted by NVD

8 pages and counting. This thread will be dead in a week once the hype blows over.

Yeah, hype is temporary, but memories are long and judgments are forever.

Acroplex · 11-04-2009, 06:27 PM

Here's what's going to happen:

1. Oversee hired a third party to investigate - they have already outed the former employee.
2. Oversee will truly process the logical method of compensation, as explained in that email and announcement.
3. Charges will be filed against Nelson Brady by Oversee.

However, by issuing compensation Oversee will make its recipients agree to terms waiving any further rights to claims or lawsuit against Oversee. It's unfortunate that Oversee bought and controls a corporation that engaged in fraudulent activity via its employee(s). Right now, there is a need to assess the damages sustained; some people were probably defrauded by tens of thousands of dollars. It's important to not rush to any agreement with Oversee over "rebates" - for as long as Oversee does not release the private information they hold per account: auction history. I can only recall ONE incident bidding against "halvarez" and it cost me $2,300 - this doesn't mean there aren't many more. As long as I don't have access via my account to auction history, Oversee knows that I cannot prove much. However, their reputation is at stake right now.

CureCancer · 11-04-2009, 06:34 PM

Originally Posted by Acroplex

Here's what's going to happen:

1. Oversee hired a third party to investigate - they have already outed the former employee.
2. Oversee will truly process the logical method of compensation, as explained in that email and announcement.
3. Charges will be filed against Nelson Brady by Oversee.

However, by issuing compensation Oversee will make its recipients agree to terms waiving any further rights to claims or lawsuit against Oversee. It's unfortunate that Oversee bought and controls a corporation that engaged in fraudulent activity via its employee(s). Right now, there is a need to assess the damages sustained; some people were probably defrauded by tens of thousands of dollars. It's important to not rush to any agreement with Oversee over "rebates" - for as long as Oversee does not release the private information they hold per account: auction history. I can only recall ONE incident bidding against "halvarez" and it cost me $2,300 - this doesn't mean there aren't many more. As long as I don't have access via my account to auction history, Oversee knows that I cannot prove much. However, their reputation is at stake right now.

Agreed, well put Acro!

11-04-2009, 05:48 PM	#177 (permalink)
Acroplex Senior Member Join Date: May 2003 Location: Orlando, FL Posts: 2,862	I have spent about $10,000 at Snapnames since 2005. Imagine the totals for domainers around the world: millions of dollars. This is the tip of the iceberg; apparently someone "whistled" the information. My opinion is that he did not act alone. Someone leaked the info "upstairs" when they had no reason to keep quiet - usually after they got fired. __________________ DomainGang.com - Digital Entertainment for Domainers Acroplex - Web & Graphics Acro.net - My Blog

11-04-2009, 05:54 PM	#182 (permalink)
bmugford www.DataCube.com Join Date: Apr 2007 Location: USA Posts: 5,819	This makes me question the integrity of any company under the Oversee.net umbrella. It would be just as easy to shill live events. I have a very hard time believing this information came out from the goodness of their hearts. It is straight damage control. I am sure there will be more to this as it unfolds. Brad __________________ DataCube.com - Buy and Sell Premium Domains Add Me on Facebook

11-04-2009, 05:54 PM	#183 (permalink)
MicroGuy Miembro Especial Join Date: Aug 2007 Location: Debunking ccTLD Posts: 6,801	I think Snapnames will need to change their name for damage control. The current named will be forever tarnished. __________________ ......

11-04-2009, 06:00 PM	#186 (permalink)
DotsNews New Member Join Date: Nov 2009 Location: Bay Area, California Posts: 3 Follow @DotsNews	Is "shill bidder" the best way to describe halvarez? A shill is someone who is trying to get people to bid, but halvarez was actually trying to win the auctions. __________________ Check out my domain investing blog at DotsNews.com.

11-04-2009, 06:20 PM	#195 (permalink)
pixelhero NamePros Regular Join Date: May 2008 Location: England Posts: 771	8 pages and counting. This thread will be dead in a week once the hype blows over. Hi btw MicroGuy. =] __________________ pixelhero Web Development Studios UK

11-04-2009, 05:52 PM	#180 (permalink)
deb NamePros Regular Join Date: Jul 2006 Posts: 509 Follow @polarbeartrust	What will the Movie be Called?

11-04-2009, 06:27 PM	#199 (permalink)
Acroplex Senior Member Join Date: May 2003 Location: Orlando, FL Posts: 2,862	Here's what's going to happen: 1. Oversee hired a third party to investigate - they have already outed the former employee. 2. Oversee will truly process the logical method of compensation, as explained in that email and announcement. 3. Charges will be filed against Nelson Brady by Oversee. However, by issuing compensation Oversee will make its recipients agree to terms waiving any further rights to claims or lawsuit against Oversee. It's unfortunate that Oversee bought and controls a corporation that engaged in fraudulent activity via its employee(s). Right now, there is a need to assess the damages sustained; some people were probably defrauded by tens of thousands of dollars. It's important to not rush to any agreement with Oversee over "rebates" - for as long as Oversee does not release the private information they hold per account: auction history. I can only recall ONE incident bidding against "halvarez" and it cost me $2,300 - this doesn't mean there aren't many more. As long as I don't have access via my account to auction history, Oversee knows that I cannot prove much. However, their reputation is at stake right now. __________________ DomainGang.com - Digital Entertainment for Domainers Acroplex - Web & Graphics Acro.net - My Blog

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