Wednesday, November 21, 2007

Final throws for Chao Mu?

Well, it seems like the last of the nails are being head-butted into the Tao Group's coffins as WSE announced earlier that it was now undergoing a decision making process to assess what to do with the situation. Not sounding good for shareholders, with WTF seeming like a closed shop as the cut-off time for delisted companies was 19th October and THI and TGB didn't have assets that could be liquidated or dispersed to bond or share holders.

I saw some comments made in forums around the place and I have spoken to a few people in-world in the last few weeks about what they thought of the situation...many, unfortunately, had come to the conclusion long ago that Chao was a dodgy character.
I am going to try and dig up all the info from the relative sources, but I would appreciate if anyone could help collaborate here by posting some links or divulging their stories. I will update accordingly. If anyone has any firm history using the "escrow" system, that he stated was going extremely well, I would appreciate this as I am unable to find 1 single shred of evidence!!

Simple facts so far:
Chao Mu was a regular with positive news announcements for his companies
September 4 - State of the Union address announcing plans (stock price began to recover)
October 21 - Announced a dividend for 1st November. This is yet to have been received
October 29 - Announced that everything was "almost complete" and there would be a dividend for both stocks in the coming weeks
November 15 - WSE halts both stocks stating a response is required
November 21 - WSE announces that the five-day response time is up

Logansan Oh
- CEO, Chairman

(For the conspiracy boffins: Chao is listed as being from Austin Texas...didn't the IP resolve to Austin for the recent bank attacks? LOL!!!)


Stephane said...
This comment has been removed by the author.
Stephane said...

He did not show in SL since the 31/10/07.
I ve asked him several times and 2-3 months ago if he wanted to participate to my MBA project "Entrepreneurship in MMORPG", he never responded back, maybe he was not an entrepreneur !!!

miquelle sands said...

chao mu is in my eyes the biggest loser. already telling me 4 months that i will get my money back. well i wait here now for 168000 L$. So even this guy isnt to trust.