The current argument over the Snapnames rebate seems to be that there is more than meets the eye in the recent Nelson “Halvarez” Brady scandal.<\/p>\n
Both victims and non-victims of the “Hank Alvarez” scam, which materialized while he was a VP of Engineering at Snapnames, seem to want a lot more beyond transparency from Oversee – the parent company of Snapnames.<\/p>\n
As far as monetary damages are concerned, my out of pocket loss is well-defined in the document sent by Rust Consulting, the company hired by Snapnames to investigate the forensic evidence of the shill bidding and auction tampering that Nelson “Halvarez” Brady engaged into.<\/p>\n
The approximately $2,000 I stand to receive back from Snapnames is a well-timed holiday bonus. After examining the 49 auctions I participated in and won against “Halvarez”, the monetary loss is restricted to the amount offered in that rebate. Despite the fact that I spent time carefully researching and bidding on these domains, I do not feel that I lost an additional amount of money that could be accurately calculated, without engaging into some form of emotional and thus inaccurate demand from the company that inherited the problem.<\/p>\n
I believe that a lot of other domainers feel the same; that the rebate offers an accurate depiction of the losses, with the addition of interest that rounds the loss up – clearly an attempt by Oversee to sweeten the bitter pill of shill bidding.<\/p>\n
Furthermore, the announcement of the filing of a class action lawsuit does not resolve the issue of compensation for the class; it’s not defined in the lawsuit, and given the fact that the range of rebates varies substantially from the low hundreds to the hundreds of thousands of dollars, one cannot assume that a class action lawsuit would ensure higher payment for the class. In other words, the bulk of domainers who lost small amounts *might* not receive much more, with those that lost the most being at risk to receive less than the average amount.<\/p>\n
It all comes down to logistics: what is the amount of effort needed in order to pursuit higher return from Oversee. Additionally, if the proverbial feces hit the fan, Oversee might attempt to file for Chapter 11\u00a0 protection which would freeze the currently allocated funds for a prolonged period of time.<\/p>\n
Would I like to see justice delivered, in the form of legal action against Nelson “Halvarez” Brady and whoever else is guilty of defrauding thousands of domainers over the course of five years? Of course. And that’s currently pending, the next move by Oversee against the sole identified person in this case.<\/p>\n
But I don’t want blood money in excess of my losses.<\/p>\n","protected":false},"excerpt":{"rendered":"
The current argument over the Snapnames rebate seems to be that there is more than meets the eye in the recent Nelson “Halvarez” Brady scandal. Both victims and non-victims of the “Hank Alvarez” scam, which materialized while he was a VP of Engineering at Snapnames, seem to want a lot more beyond transparency from Oversee […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26,3],"tags":[269,1189,349,351,358,348],"class_list":["post-258","post","type-post","status-publish","format-standard","hentry","category-business","category-domains","tag-domainers","tag-domains","tag-halvarez","tag-nelson-brady","tag-rebate","tag-snapnames","entry"],"yoast_head":"\n