Thestud is a known faction fund skimmer since his PT days. He ran a Ponzi scheme under the guise of a “PT armoury fund” where he gambled on caches, selling the red/orange pulls for profit while retaining the yellows.
To elaborate, imagine he opened 100 armor caches, 200m each, 20b total, 95 were yellow, and 5 were oranges. Lets say the average yellow value is 100m and oranges were 1b, working out to be worth 14.5b in total, a huge loss of 5.5b. However he wouldn’t report the yellows as a loss, and only reported the oranges as a profit. Hence on paper he would report 800m profit per orange, or 4b profit total.
This would show insane profits on paper, but in reality, most of the fund is stuck in a loss, which he would falsely report the yellows being worth 200m value each, when the true value is way less. The only way to maintain the high profits is depend on more members injecting cash into a fund, to pull more orange/reds and report it as a false profit, effectively a Ponzi scheme.
He took a ridiculous cut on this Ponzi scheme, something like 20%, and made billions off scamming his own members.
Additionally, he cost the fund over 20b when he miscalculated caches, where he didn’t pay for his mistake, threatening leadership that he will leave if he had to pay it back, instead, forced the 20b loss on innocent investors due to his own negligence.
On top of this, in order to falsely represent the yellows with an inflated value, he attempted to manipulate the market, buying up the yellows to match his inflated prices. However nobody would buy his overpriced yellow items as they are clearly inflated, and made the loss even larger by attempting to manipulate it.
So, what was the end result? Those left holding the bag at the end of it took a massive loss, iirc it was over 40% in a single month, as the very nature of this “fund” is a Ponzi scheme from the very start.
He knew very well it would end up like this, hence he hid the google sheet containing all his pulls, keeping investors in the dark of his scammy behaviour. However I gained access to this, screenshotted all of it and exposed him in PT discord, but, I was silenced by leadership who deleted my messages exposing him. Shortly after, I took a year break from the game.
When I returned, unsurprisingly he left PT and weaselled his way into Monarch leadership. For those in Monarch who have given him a position of power, congrats, you now have a faction skimmer in your ranks, best of luck with him.
This was one of the major turning points that caused me to leave PT, silencing me from shedding light on this scam of a fund, leaving innocent but ignorant members in the dark.
Most of the playerbase fixates on xanty’s stock fund calling that skimming, the truth is xanty has made trillions for PT and has made PT from an inactive faction back in 2018 into a powerhouse during our peak in 2021/2022 ish. This armoury fund however, is the true evil, being a ponzi scheme from the start, skimming commission while costing members close to or even more than 100b, and most of the playerbase don’t even know about it.
Edit:
Managed to find this screenshot, just looking at the first 3, paying 2.5b each per dune piece, expecting 500m-1b profit LOL. The final column on the right shows the sale price, if the cell is empty, it means it hasn’t sold, and you can see out of the 100+ RW gear, less than 10 sold
Edit 2:
I have been provided additional information, stud returned 4b of fees he gained, out of the approximately 150b he lost, how noble of him.
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