Post made by S.E.C. that prompted the private message.
Kirby Zhang Investor subpoenaed by the S.E.C. Letter Inside!
<HR style="COLOR: #fdde82; BACKGROUND-COLOR: #fdde82" SIZE=1><!-- / icon and title --><!-- message -->This post was originally submitted on 5/4 to the NBA Forum. Moderatos did not post stating no arguing allowed. Post it in Rubber Room. Kirby Zhang is misleading posters.
Please let Kirby know he has mail in the Rubber Room, we can't contact him because its arguing.
The original Letter:
Hello Young Mr Zhang:
Oh no you didn't.
Misleading investors is not a nice thing to do. You changed your record:
Monday it read: As of 5/3 63-38-3
Tuesday it reads: As of 5/1 68-43-3
Correct record 64-41-3
You changed 2 things; The 'As of date' and the record. 2 changes indicating preconceived intent and not an innocent error.
Not nice Young Mr Zhang, not nice.
Since you are playing fast and lose with your record keeping we decided to audit you.
After an audit of your Won Lost record by the Scamming Enforcement Center (S.E.C.) We have discovered some discrepancies, in particular your propensity to use ML results and mix them in with your Pointspread results. The mixture is a common sleight of hand used to inflate the overall winning percentage and quickly gain many admirers and followers. We see you've been here a month, we hope you have enjoyed your stay so far.
The ML/PS mixture has been used here multiple times by others who have also been warned.
The games in question Mr. Zhang are all ML wagers:
4/8 Golden State ML Lost -320
4/26 Houston ML Lost -230
4/28 Boston ML Lost- 450
4/30 Philly ML Lost- 235.
You provided no disclosure on the amount of money lost leaving your investors to erroneously conclude it was 110 per wager.
The results from the 4 losers total $1235 a nice chunk and much more than the $440 that the 4 losers would yield laying 110 (Part of the sleight of hand is not disclosing UNIT amounts.)
We can correct the ML/Pointspread discrepancy as follows:
All bets are 110 so dividing $1235 by 110 we get 11.22. bets lost
Young Mr Zhang's record going into May 5<SUP>th</SUP> is 64-41 or 60.95%
Adjusting for the lost bets 64-11= 53 and 41+11= 52
New adjusted record 53-52 or 50.47%
Your investors are losing money, Young Mr Zhang.
We only audited from 4/1 and such we can only comment on that time frame. We can speculate though that the ML bets have been ongoing prior to our audit, making the record probably even worse than the present 51%.
We also notice that you don't include you massive loses in exotic wagers in your overall record. Granted you also don't include your winnings, but it may be due to the fact that there has been none.
Proper record keeping is a must.
I don't envy your position Young Mr Zhang. If you claim ignorance, then your investors will question your overall basic gambling knowledge. If you acknowledge what you are doing then... well, like I said, I don't envy your position.
We have no issue with you Young Mr Zhang properly posting a pointspread record separate from your ML with an understanding of what a one unit bet is for both.
Veteran posters here are a savvy bunch, Young Mr. Zhang, We at the SEC not the only one that noticed, We are just the only ones that had nothing better to do today.
We also found more ghosts than at a cemetery on Halloween, but that is a job for the Ghostbuster Branch of the SEC and not currently our jurisdiction.
You have alluded to a recording career Young Mr Zhang as well as to your education. The SEC agrees with your parents, we also suggest you finish your education first, Music and gambling can wait.
Moderators you are welcome to check for yourselves, this is not bashing, just full disclosure for all posters to see.
Young Mr Zhang was banned previously, although only momentarily for questionable practices; his banning got our curiosity up and we performed a cursory check of his record.
S.E.C.
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