Skip Oceanlane about players dumping shares in 2014

Jul 9th 2014, 21:32
Skip Oceanlane New Linden Lab Policy - Games of Skill
Dear Capital Exchange Members:

Linden Lab announced a new skill gaming policy. You can read about it here:

community.secondlife.com/t5/Featured-News/Coming-Soon-Skill-Gaming-in-Second-Life/ba-p/2771080

As you're all aware, Capital Exchange Stock Market Simulation Game is a game of skill by Linden Lab's Terms of Service. So therefore I have already filled out Part One of the application for a Creator License, and submitted it to Linden Lab. I will probably also have to apply for an Operator License as well.

I am going to send this information to my attorney so their firm can provide the necessary legal documentation Linden Lab is looking for in Part Two of the application process. I see no reason why Capital Exchange would be denied either License, so I hope the process is a smooth one. As always I will fully cooperate with Linden Lab and provide whatever information they seek.

I have noticed some people selling shares since Linden Lab has announced this new policy. I highly advise against any type of share dumping, as you would probably lose most of your initial investment by doing this. Capital Exchange is going to operate in the future one way or another, and I am not going to speculate what would happen if our game of skill is denied a license. I believe it will be allowed to operate as it has in the past. Finally I'll state that perhaps after Capital Exchange is granted a license, more players within Second Life will choose to participate. So this could actually be a very good thing for the exchange.

I will as always give everyone information as it is given to me by Linden Lab, so everyone stay positive as this process goes forward. Anyone that has questions can ask. Thank you.

Skip Oceanlane, CEO
Capital Exchange
www.slcapex.com

Jul 14th 2014, 08:21
Skip Oceanlane CapEx Skill Gaming Application Update
Dear Capital Exchange Members:

Over the weekend and today I had discussions with the law firm that is assisting in preparing the Skill Gaming Application for Capital Exchange to Linden Lab. We believe that the way the game is played when explained in reference to appropriate United States laws and regulations, meets Linden Lab's criteria for acceptance. Within the next week we will formalize our "Part Two" submission so Linden Lab can review it appropriately.

While I cannot guarantee Linden Lab will accept our application, I am very optimistic that we meet their criteria. If for some reason the application is denied, I will search for alternatives for us to operate. It won't be the end of Capital Exchange. As previously stated I don't want to get into particulars for that, because I believe our application will be accepted. But I am working on a "Plan B" just in case.

I fully understand why Linden Lab is taking this action, and will cooperate with them in whatever way they feel is necessary to protect themselves. In a way this could be beneficial, because it will once and for all legitimize in writing what is done at the game of Capital Exchange.

So for now it's business as usual. I will keep everyone posted about any updates. Thank you.

Skip Oceanlane, CEO
Capital Exchange
www.slcapex.com

Jul 17th 2014, 07:33
Skip Oceanlane Re: CapEx Skill Gaming Application Update
Dear Capital Exchange Members:

Just a quick update - I have submitted additional information required by Linden Lab, and now I'm awaiting to hear back from them as to what they require next. The law firm is still preparing the appropriate response to another part of the application, and as soon as I obtain that it will be submitted also.

I have also upgraded CSV Republic to a Premium Account, so this roughly L$18,000 expense will be listed in July's financials. Between the RDX and APH SPO revenue and other trading fees, CAPX will have more than enough lindens to cover the initial expenses with the gaming application. But my opinion is that regardless of the cost, I will try and get the gaming application approved by Linden Lab and provide whatever documentation or funds required. Thank you.

Skip Oceanlane, CEO
Capital Exchange
www.slcapex.com

Jul 22nd 2014, 11:55
Skip Oceanlane CapEx Skill Gaming Application Update - We're Operating Past 7/31/14
Dear Capital Exchange Members:

I just wanted to clarify that Capital Exchange will be operating past July 31, 2014 while our Skill Gaming Application is being reviewed by Linden Lab. Any person that submits an application before the deadline will be allowed to continue their skill gaming operations past the end of the month. So since Capital Exchange has already submitted a Skill Gaming Application, operations will continue as normal for now.

It should be noted this is for any game of skill that operates within Second Life. So just about any game of skill you currently enjoy will still be around on August 1st, unless they chose not to file an application with Linden Lab. Then they must shut down.

As soon as I have further information, I will let you know. I am optimistic that Capital Exchange Stock Market Simulation Game will be accepted by Linden Lab, and be around for a long time. Thank you.

Skip Oceanlane, CEO
Capital Exchange
www.slcapex.com

Aug 26th 2014, 08:06
Skip Oceanlane Website Issue Update
I just wanted to give everyone a quick update. I have made contact with programmer Chango Kanto who has agreed to try and help resolve the issue lately with the website slowing down. The problem started after we moved to a new server. He believes it's an issue between the software settings, server settings and operating system, and versions of software operating on the server and in conjunction with the CapEx software. He's monitoring things and if it happens again will try and fix it ASAP.

I do check to ensure all deposits and withdrawals are credit/received properly. if anyone believes there was an error, please contact me and I'll give you the proper credit. Thanks again for your patience.

Skip Oceanlane, CEO
Capital Exchange
www.slcapex.com

Oct 31st 2014, 21:49 System Announcement
by Skip Oceanlane
Capital Exchange Suspends Activity Until Further Notice
Dear Capital Exchange Members:

On July 16, 2014, I filled out the first form for the Skill Gaming Application for Capital Exchange Stock Market Simulation Game. From that point until today, there have been numerous correspondences between me, my law firm, and Linden Lab. As of today we still do not have an official determination, positive or negative, on our application.

I was hoping that because much of the delay has been on the part of Linden Lab, that we would be allowed to operate past the November 1, 2014 deadline set forth in a recent post by Linden Lab. Unfortunately I was informed by Rowan Linden that we cannot. So therefore effective immediately, I am suspending all trading at Capital Exchange until our application is approved or denied by Linden Lab.

I do not know how long this might take, because honestly I thought this would all have been resolved already, however I hear there is a backlog of applications and Linden Lab needs the proper time to review them all thoroughly. So we need to be patient, and wait for Linden Lab's counsel to do their job.

The current status of Capital Exchange's application is this: We have submitted all the requested information, and we are waiting for counsel representing Linden Lab to contact our counsel. The law firm representing Capital Exchange has made a legal justification on how we are a game of skill under federal and New York State laws. It's now up to Linden Lab's counsel to review this determination. I do not know how long this will take, as Rowan Linden could not give me a time frame. Until Linden Lab's counsel approves how the game operates, we cannot get our Skill Gaming Application approved. So that is where we are at the present.

So effective immediately, this is what is happening:

1) All game trading is suspended. This includes Person to Person Transfers unless they were authorized before the trading halt. The MRG vote that authorized a change is shares will go through since that happened before the deadline.

2) All CEO's must NOT pay a dividend. All dividends should be held in reserve and paid as soon as our Skill Gaming Application is approved.

3) Forum posting IS allowed and companies CAN continue to post financial information, as well as other company activity and News Stories. I strongly encourage all companies to continue to post information and to advertise, as we are still ranked about 79,000 in the world in terms of website activity.

4) All other activities that conflict with Linden Lab's skill gaming policy are prohibited.

5) Capital Exchange ATM's WILL NOT be removed. People may still withdraw lindens as usual (and deposit if they wish for whatever reason). I specifically informed Rowan Linden that I was keeping ATM's in-world so people could withdraw, and he has not informed me this is a violation. So anyone can withdraw their lindens if they so choose like normal.

6) All companies stock will be "frozen" and not allowed to change. As soon as Linden Lab approves our application, companies and CEO's will be able to make modifications according to our rules as normal.

In the event that our application is denied by Linden Lab, I will make alternate arrangements to keep the game running outside of Second Life. I'm not going to give too much information on this because I'm still optimistic Linden Lab will approve our application. But I do have a "Plan B", and no I'm not going to discuss it with anyone at this time.
So that's it for now. As soon as I have new information to give to you, I will. I apologize for the inconvenience this has caused so many people but they are circumstances beyond my control. Thank you for your continued patience and loyalty to Capital Exchange.

Skip Oceanlane, CEO
Capital Exchange
www.slcapex.com

Oct 31st 2014, 22:41
Skip Oceanlane Latest CAPX Financials and Info
Dear CAPX Shareholders:

As you can imagine, not being allowed to operate will hurt CAPX's financial position within the game. Unfortunately there isn't much I can do about it because Linden Lab's policy on skill gaming is beyond our control.

In case you missed it, please read here the current status of things:

slcapex.com/home/story/system/8580

CAPX will have large legal bills, as well as certain expenses related to our website and server. I am of course suspending all advertising, so that will reduce expenses slightly. We will also still get residual revenue from our AdSense banner as well as revenue from ads still on our website. We're still ranked 79,000 in the world for website traffic, so we should still have advertising revenue.

I'll have the latest financials posted in the near future, and I will give you all updates on the application as they happen. So for now unfortunately, we just have to wait. Thanks for your continued patience.

Skip Oceanlane, CEO
Capital Exchange
www.slcapex.com

Orly
Junior Member

Capital Exchange CEO Indicted on 3 Felony Counts of Grand Larceny in NY
Moderators, Please note Cristiano approved reposting, the previous thread was deleted by mistake. Thank you Cristiano.

CAPITAL EXCHANGE CEO CARMEN DUBALDI / SKIP OCEANLANE UNDER CRIMINAL INVESTIGATION IN NEW YORK STATE

Second Life Residents, Journalists & To Whom It May Concern:

All information below is publicly available, search Google or follow the links, there is nothing private or secret about this post and it is not rumour.

The owner of Capital Exchange is a real life government official in New York under criminal investigation for financial "irregularities in his account that included withdrawals for 'transactions that were never made.' He's stepped down from four campaign treasurer positions this summer, disconnected his cell phone and lawyered up. New York Sen. Larkin referred to himself as a "crime victim" a month ago. Dubaldi has not disclosed this misbehaviour to investors and is actively raising money through his PayPal account for this stock market.

Capital Exchange (CapEx) is a stock market that's been in the Second Life virtual world. Investors use real money to buy stock in virtual businesses. CapEx owner Skip Oceanlane's RL name is Carmen Dubaldi from New York. He freely gives out his name to the press so he is not having info revealed. In fact, on SL Universe, Dubaldi stated: "By going to www.slcapex.com, you can even find out my real name, address, phone number, rl occupation, and anything else you want to know. Others may have hidden behind an avatar to scam in the past, but I don't do that." Virtual stock market simulation

Here's a public 2011 article about Skip/Carmen in Hypergrid Business where he states his real name and business in the New York Republican party: www.hypergridbusiness.com/201...s-fewer-scams/ "Carmen Dubaldi, who bought the exchange this January, has actual business experience under his belt. He is the owner of the Merle Norman Cosmetic Studio & Day Spa in New Windsor, NY, the assistant safety and loss control specialist at Orange County and a legislative coordinator at the New York State Assembly. Dubaldi — who is known as Skip Oceanlane in Second Life — said that he got involved because of the corruption he saw happening with the exchanges in the past. "

Carmen Dubaldi (aka Skip Oceanlane) is under criminal investigation for the offence of financial irregularities. NY Sen. William Larkin Jr. fired Dubaldi in June 2015 after discovering withdrawals from his campaign pot for "transactions that were never made." The investigation centres on Dubaldi:

1. More On The Curious Case Of Carmen Dubaldi
Corruption, Hudson Valley, State Senate
More On The Curious Case Of Carmen Dubaldi

"A few days ago it was reported that Hudson Valley Republican Bill Larkin, who is very, very old, would indeed be running for re-election to the state Senate in 2016. Larkin had formed a new campaign committee with a new treasurer and everything. After I wrote about this development, a tipster reached out to tell me that the reason that Larkin had a new committee was that his campaign treasurer, an Orange county Republican official named Carmen Dubaldi, had been caught embezzling somewhere in the neighborhood of $200,000 from the campaign accounts of Larkin and a number of other local Orange County Republicans.

Carmen Dubaldi’s cell phone has been disconnected and he has apparently lawyered up with a criminal defense attorney. Dubaldi was a longtime player in the Orange County Republican Party, but the party is now erasing any mention of him from their website."

More news links, publicly available:
2. September 2015 - "Meeting set over state Sen. Larkin's campaign finance report" Meeting set over state Sen. Larkin's campaign finance report - News - recordonline.com - Middletown, NY
3. August 2015 - "Orange County political operative investigated for campaign irregularities" Orange County political operative investigated for campaign irregularities
4. August 2015: "Larkin responds after treasurer's exit, says he's a crime victim" Larkin responds after treasurer's exit, says he's a crime victim - News - recordonline.com - Middletown, NY
5. July 2015 - "Questions swirl in wake of Orange County political operative's resignations" Questions swirl in wake of Orange County political operative's resignations - News - recordonline.com - Middletown, NY
6. Larkin responds after treasurer's exit, says he's a crime victim - News - recordonline.com - Middletown, NY
7. Friday 25 Sep update on an Orange County NY political blog called "All Is Carm En Quiet": Orange County Outlook (NY) by Auntie Alibi: ALL IS CARM EN QUIET "While the public's memory may be short, that is not the case with Auntie and the Team. We do hope that Carmen Dubaldi does not feel neglected due to the strange lack of media attention regarding his escapades in the world of political campaigns. Don't worry Carmen, Auntie is keeping it on the radar! While we heard that Carmen might be ready to make a deal, we look forward to the results of the investigation."

On top of the investigation, CapEx is using PayPal. Under PayPal's TOS, they can not use the service for games of skill or stocks without prior approval:

www.paypal.com/us/webapps/mp...ptableuse-full "...selling stocks, bonds, securities, options, futures (forex) or an investment interest in any entity or property; or providing escrow services" and "Activities involving gambling, gaming and/or any other activity with an entry fee and a prize, including, but not limited to casino games, sports betting, horse or greyhound racing, fantasy sports, lottery tickets, other ventures that facilitate gambling, games of skill (whether or not legally defined as gambling) and sweepstakes, if the operator and customers are located exclusively in jurisdictions where such activities are permitted by law." Did Dubaldi get approval or is CapEx a complaint away from shut down?

Even though under investigation and misusing PayPal, Dubaldi and CapEx started a new IPO on Monday 28 Sep to raise L$2.1 million CD$ dollars (which is tied to the Linden dollar exchange rate). That's CD$ dollars because Linden Lab denied his application to be in the Skill Gaming Program. Story at www.onlinecapex.com/home/story/system/8600 So now, "Capital Exchange does not use the Linden Dollar (L$) owned by Linden Research, Inc., and instead uses its own virtual currency of the CapEx Dollar (CD$)." www.onlinecapex.com/content/tos

He began raising money from unknowing investors on Mon 28 Sep: www.onlinecapex.com/home/story/system/8833 "Dragon Holdings (STAR) IPO Starts Monday, Sept. 28, at 8 AM EDT". L$2.1 million CD$ or Linden is over US $8,000. www.onlinecapex.com/home/story/system/8846

Today, 08:01 System Announcement by Skip Oceanlane
Dragon Holdings (STAR) IPO Has Started!

Dear Capital Exchange Members:
The Dragon Holdings (STAR) IPO (Initial Public Offering) of stock has started. Here are the details for STAR:
Existing Owner Shares: 1,750,000
Requested IPO Shares: 1,250,000
SPO Price: CD$1.75
Days for IPO: 30
Total Shares If IPO Sells Out: 3,000,000
Total Amount Of IPO: CD$2,187,500
For more information on STAR, use these links:
www.onlinecapex.com/home/story/system/8832
www.onlinecapex.com/symbol/STAR/profile/
www.onlinecapex.com/trades
www.onlinecapex.com/symbol/STAR

Many people have gotten ripped off on these schemes (same organisation lost 75% of value before Dubaldi took over). They are now trying to raise over US $8,000 from unsuspecting people. That's why this is being posted.

Dubaldi may not be honourable enough to recuse himself from CapEx and suspend operations during the investigation but that's the least that should happen.

Orly
Junior Member


Join Date: Sep 2015
Posts: 7
Tengu, Respectfully, many care, they are trying to sell out their stocks because the news keeps getting worse. Its not their fault, Dubaldi hasn't disclosed any of this. 23,460 accounts, mostly SL residents. Thank you to SLU for helping point out the truth.

Mid Hudson News 28 October 2015:

Quote:
Larkin files campaign report with state board of elections
Former campaign treasurer Carmen Dubaldi, now under investigation

ALBANY – State Senator William Larkin (R, Cornwall-on-Hudson) has filed his July campaign report with the state Board of Elections. The initial campaign committee’s filing was placed on administrative hold per the board of elections after Larkin found irregularities in his campaign account including funds leaving the committee for transactions that were never made.

At that moment, the senator terminated his campaign treasurer, Carmen Dubaldi, notified authorities about the irregularities, shut down his existing committee and opened a new one.
--
“At no time did I consider allowing my former campaign treasurer to perform the July periodic filing,” Larkin said. “I do not regret the decision to fire my former campaign treasurer even though this action has been the cause of a deliberate political attack on me,” Larkin said.

Ulster County District Attorney Holley Carnright has been assigned to investigate the case against Dubaldi, which may also include missing funds from the campaign accounts of Orange County Clerk Annie Rabbitt and former Orange County Executive Edward Diana.
Larkin files campaign report with state board of elections