SL Capital Exchange Reimbursed CyberSyzygy (CapEx: CYB) Shareholders
Via notecard from Xavier Mohr:
FOR IMMEDIATE RELEASE
Wise compensates victims of CyberSyzygy scam
SECOND LIFE, JT WORLD, 21 AUGUST 2007 - SL Capital Exchange CEO Arbitrage Wise announced today that he had reimbursed CyberSyzygy (CapEx: CYB) shareholders today, gifting them SL Capital Exchange (CapEx: SLCX) shares in exchange for their shares of the halted company, which is to be delisted on suspicion of CEO fraud.
Although official guidelines or precedents do not exist for fraud-related shareholder reimbursement in Second Life, Wise opted to refund investors from his personal holdings of SL Capital Exchange shares for reasons he explained in an announcement at the exchange's official website (www.slcapex.com).
"Fortune Rang was already under investigation before the purchase of AVIX, but we were not notified of this situation," said Wise. "We do not want this incident to have a negative impact on our new exchange and would rather take the loss personally than to take a step backward.
CyberSyzygy claimed in their prospectus to be a company specializing in website design and development, graphics design, logo and branding, marketing, and SEO. Fortune Rang, the company's CEO, claimed to have ten years experience in these fields.
Also missing is the company's Chief Financial Officer, Nokamura Shinobu, who was touted in the CYB prospectus as a real-life investment adviser and licensed real estate agent in the state of California.
Although the company claimed to investors to have already been in operation for over 4 years in the real world, CapEx officials cite no verifiable evidence is available to back this claim. Exchange President Lindsay Druart has reportedly made numerous attempts to reach CEO Fortune Rang (who claims to go by the name of "Damian" in real life) by telephone and USPS certified letter to no avail.
"I hope that this will increase our investors' confidence and show that we are out to protect their interests, and that we put our customers first," Wise added towards the end of his announcement.
The move has been met with cheer by former AVIX investors that have watched the transition of exchange power closely. "I applaud the swift effort in this matter. Great work CapEX management," said one investor in the CapEx CyberSyzygy forum. "With no planned expectation, I continue to observe your commerce with much enthusiasm."
Confirmations of today's refund already abound in the same forum threads. "While I didn't see an announcement, I did see extra shares of SLCX in my portfolio equal to my investment in CYB, so I presume that the compensation has been made," said another CYB shareholder. "My true appreciation to the CapEx management for their efforts in this."
Wise Metaverse CEO Arbitrage Wise purchased the AllenVest International Exchange (AVIX) from Investor Allen on August 3, 2007 and subsequently merged the exchange with JT Financials Bank, forming the SL Capital Exchange.
For more information on the CyberSyzygy shareholder refund, please visit the SL Capital Exchange website at www.slcapex.com.
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MEDIA CONTACT:
Xavier Mohr, Public Relations DIrector
SL Capital Exchangewww.slcapex.com
xavier.mohr@gmail.com
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