True. Unfortunately. It is incredible how the team kept their OGs and early adopters at bay and does not care.
Centrifuge sued 1754 Factory to get back what they invested, but don’t seem to care about the small investors. They are simply not willing to accept any responsibility and take the lead. It is extremely short sighted approach. I hate the fact how they are just hiding behind the committee creation and “DAO role”.
Is there any update on this?
lmao
@christiancdpetersen: what are the next steps for this proposal? Is there more input for this governance discussion needed?
From me, no. I did not receive any support to pursue this work. See below.
Christian
Premature… in due course…OMG
I won’t hope it but if you are right and watching the disinterest of Team you might ;-(
I guess Gary Gensler was right. We do need regulations and legal enforcements when it comes to DeFi and companies throwing the ‘DAO’ word around to deflect all problem as if it’s not their concern.
Man, sometimes I actually hope that SEC comes after all these frauds to make this a cleaner space.
Agreed! and they often mention the high TVL, it’s like robbing someone and bragging. 'You can’t withdraw because we have some issuers who don’t have money to repay the loan, and some of them default, But hey, our TVL still at 200+ million…please give me a break.
And they’re doing absolutely nothing despite reading all these feedback by users.
‘oh its not our fault because its still premature at this time’
jesus christ
Hello @keith
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I understand this sentiment of frustration and rage as I am also a small investor who has likely lost my money… It was impossible for this to go on like this. I reached out to CFG as well and got some boiler plate message to reach out to the issuer who hasn’t replied since the first reply.
Not sure what pool you are in @keith but I’m in branch and the issuer has been a joke.
@Fab said to me months ago to read the pool’s executive summary and that the pool is a 3 year term! Wish I had known that before I put money into it. The return is abysmal for a 3 year lockup. But that’s on me for never reading the exec summary (which was the size of a small book 
)
At this point idk what CFG can do to help. I’m sitting hearing praying this Christmas that the issuer doesn’t make us sue him like the bling investors. But if they don’t repay or communicate the day the pool hits 3 years I am suing this loser.
I’m with you and will join the lawsuit.
Anyway, the main point here still is the ridiculously passive role of CFG core team who are not at all helpful and not willing to drive any action against the issuer (apart from their own lawsuit against him), essentially telling the early investors to take care of it themselves. I already mentioned the issue to one of large VC funds who invested in CFG back then and they didn’t like it either. It probably means nothing, though, like all these threads and messages which are being ignored no matter how constructive they may have been.
they often claim it’s fine and prolong the issue until they can’t handle it anymore. 2years ago in bling series1 forum, I mentioned that issuer showing no intention of repaying the funds, breaking promises and deadlines repeatedly, all he did was prolong the issue. what upset me more was that even centrifuge team is on their side, telling us to give him more time and urging to stop spreading fud. He didn’t repay a single dime since then, and i’ve seen Fabien on Centrifuge show making ‘make up’ jokes after repeatedly breaking repayment deadlines. People like him have no responsibility,his words mean nothing. He’s doing the same thing to the branch 3 now, continually reassuring us it’s fine and prolonging the issue until it becomes unbearable. He is well aware that we can’t do much because he is outside the United States, I can guarantee you now that he won’t repay the loan after the 3-year term. Before any members from the Centrifuge team accuse me of spreading fud again, let’s make a bet. If I’m wrong, I’m willing to donate all my funds in Branch 3 to the Centrifuge team. However, if he doesn’t repay the loan, are you willing to reimburse all the funds to Branch 3 investors? If your confidence in Mr. Fabien remains as high as it was a year ago, I’m sure the answer is yes.
The issuer didn’t follow the rules to repay our money, and we needed to be polite and careful just to express our feelings? Please help me understand, seriously what is this? please, don’t treat us like such a low priority
Good day @hepp
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Best.
@rogerio Its true the team has been passive but not sure what I would/should expect from them as a decentralized play. I think we also need to distinguish who we mean when we say team. From what I can tell from the cent website, there seems to be a few teams working on the chain and platform. I believe we have all been most likely speaking with the k/factory team. Since they seem to just be the builders and technical support (I assume this from their email response to me that they can only support my technical issues) that there is literally nothing they can do to help. CNF on the other hand has already started a lawsuit of their own and the investment committee for the other Fabian pool since they are also investors. I assume if CNF is in one pool they must be in the other as well. So I am hoping they do the same for Branch the moment the assets are all past their maturity date before we all sue the pool ourselves…
@hepp I agree the issuer isn’t following the rules, but I also never saw a rule book 
. All i know for sure is that the issuer told me that this pool is for 3 years and the assets before 3 years was meant to be an attempt to provide liquidity for redemptions before the 3 years if he received interest payments. So from this I assume (shame on me for doing this), that he received no interest and thus couldn’t distribute it to us. All in all, its super disappointing and I wish i did better research into this jester. Wish i picked a less risky asset class as well 
Still zero update from this rugged pool and the nonchalent team members of centrifuge?
insane…
@Max time to create a separate forum where we can get real answers without censorship. This has gone on long enough.
@BLahar @hepp it is not paranoia
please everyone to read the full text of the CFG lawsuit against Davoa
and understand that CFG may be distancing from Davoa/Fabian Dureuil because they may have discovered more about his past “activities” than they are willing to disclose. How much did CFG know or not know about Davoa/the originator Fabian (including all of his entities, Bling.eu, past activities in France etc) when they entered into these agreements? How has this lawsuit resolved (if it has yet?) A simple Google search of Fabian and his past activities suggests that there is more than meets the eye and that maybe CFG overlooked it or did not know. The due diligence that might have prevented this did not utilize basic search engines that would have raised sufficient alarm - let alone more sophisticated measures. That might explain the distancing now that CFG has joined Mr. Fabian’s wake of wronged investors.
So we raise this question again to Mr. Fabian and to CFG:
Are there or have there in the last 10 years, been any criminal, civil, regulatory or administrative proceedings against (i) the Company or any of its principals or (ii) the product in any similar such matters including reparations, arbitrations, and negotiated settlements? If so, please describe.
Fabian’s response to this was:
None
Is that true?
On behalf of CFG Services Ltd., I can confirm that we have received no non-public information in connection with the lawsuit. The discovery phase has not yet commenced. The trial date is scheduled for January 2025.
