Case Closed millions owed :(

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#1
1. im accusing 8x17

2. well i loaned a good few million or so and it never got paid back the current owed amount is 2.7m and 90k for the base loan , 6m for a yacht , and a sum of the interest that idk yet .they have avoid paying and threatened to quit and notb give me a dime they thought they could escape the loans by changing their username. and tbh this is the reason im quitting i have tons of books full of proof on the loans.

3. i have like 10 books on the loans
 
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#5
I will be representing @dkjcfarms in his case. He is requesting that the case is solved and that the money and/or property is all returned. Though he also requests that these items are given to me because he has quit/become much less active and wishes that I receive what is owed to him. @Trump15024 has the proof of these agreements. We request that the money owed is returned within a reasonable amount of time which me and my client would like to be informed on what it may be.
 

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#6
I have received the contracts from dk, and have gotten his confirmation @Nico is representing him.

@PrankStarREE do you have any comments on this case?


Also I have some question for both parties
Neilio_Xtreme currently owns the yacht did prankstar sell it to him or did he give back the yacht and dk gave it?
Where is the 2 million dk gave you did you spend it or did you pay it back already?
 

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#8
I have no comment besides this
I realize you don't have any particular comments but I would like you to answer the question " Where is the 2 million dk gave you, did you give it back to him or pay him back already and Neilio_Xtreme currently owns the yacht did you sell it to him or did you give it back to dk and dk sold it to him"
 
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#9
I realize you don't have any particular comments but I would like you to answer the question " Where is the 2 million dk gave you, did you give it back to him or pay him back already and Neilio_Xtreme currently owns the yacht did you sell it to him or did you give it back to dk and dk sold it to him"
I believe it was 2.2 million with a 5% interest rate. The same interest rate was applied to the yacht if it was not paid for in 2 months which I don't believe it was.
 

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#12
@Trump15024 @WraithAF answered the yacht question correctly and the 2-2.2mil was spent on if I remember right plots for my real estate group I’m not quite sure if that’s what I spent it on as it was over 4 months ago and the first interest rate was 10% then we agreed on 5% if I’m remembering it correctly but @WraithAF answered the question for the yacht correctly
 

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#13
And also @Nico and or @Trump15024 I would like a copy of each contract by this weekend because I lost the ones I had the ones I had were on my old account in a house I sold on that account that I don’t remember the plot name for it. But if I can get a copy of each contact by this weekend it would help me remember most of this. I’m PrankStarREE in game I will be on all weekend and weekdays from 3:30 PM EST to 10:00 PM EST so if I can get the contract copies by Saturday it would help me remember the parts i can’t remember
 

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#16
@Trump15024 in the message I have quoted from @WraithAF he said he sold it to neilio after I sold it to WraithAF, but I was lookin for copies of the contract in game which can be made by putting the original book in a crafting table with a book and quill.
So to clarify why would you sell the yacht2 for 400k if you had 6m owed for the yacht
 

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#18
Thanks to all who provided facts about this case. Since I have irl responsibilities I will have a ruling later today. @PrankStarREE until then I would like to request that you do not make any large purchases or sell some of your plots before the ruling is made.
 

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#20
First, I would like to thank all the players who contributed comments and information to assist in this case. Second, I will begin by listing all the information I have gathered, the facts of this case and my reason for the ruling below.

@PrankStarREE accepted a loan from dkjcfarms of $2,240,000 with a 5% daily interest rate. This loan was finalized and approved on November 21, 2018. On November 22, 2018, dkjcfarms gave yacht2 the region to @PrankStarREE in trade of him paying $6,000,000 before two months. The interest on this agreement was 5% also. @PrankStarREE has admitted that he used this $2,240,000 loaned by him to use for his real estate @PrankStarREE has also admitted on this thread to selling a yacht in which he owed $6,000,000 on for $400,000 which in itself the selling part was approved by the agreement however, I can not find any reasonable reason why a player would sell a yacht for $400,000 knowing that they owe 6m on it. Without interest (meaning how much prankstar originally owes without dk making a profit but getting his money back) is $8,240,000. This amount is very large for a player (prankstar) who currently does not have lots of money. However, it is not an excuse not to pay back loans and or make questionable decisions such as selling a yacht for $400,000. Another issue is of the interest rates of this agreement. Without interest rates, Prankstar owes $8,240,000 meaning this is what dk lost. Interest on this agreement is profit dk would have made. At this moment the interests on this agreement is over $12,000,000+. It is unlikely any player would be able to come up with this money for any circumstance this quick. In fact, it could take a year or more for a player who has not developed a financial plan to earn money on the server. In my ruling below dk will get back what he lost but I find no reason why I should grant $12,000,000+ in profit to a player over an agreement who is inactive and who has said he is leaving/left the server. I also don’t see a good reason to bring $12,000,000 into the economy through methods that could be used to gain this money.

Ruling:

1) @PrankStarREE you owe $8,240,000 to dkcfarms (@dkjcfarms will get the money and the plots until @Nico can get him to message me saying Nico gets this) However, due to your history of loans and the fact that you earn money that could be used to pay back loans and spend it on bounties, bails, houses, and items your house a45 will be transfered by an admin to the ownership of dkjcfarms worth $140,000 meaning you still owe $8,100,000.

2) The interest rates in the loans are voided because of the reasoning behind the ruling. Dkjcfarms will get all his money back he lost but will just not make a $13,000,000 profit.

3) @PrankStaree I refer you to court case guidelines made by Kiri. If you deny to comply, you will be temp-banned and be required to comply forcefully. I expect you to make a full effort at paying this money back and not wasting it on items, properties, bails, and bounties. I understand it will take awhile for you to pay this back so don’t freak out about the amount however I don’t expect to see you placing large bounties on people while you owe someone 8m+

4) I would like an update from Prankstar in around 1-2 weeks to see how much you have earned/payed back. Both parties I request keep me in the loop of things so we can settle this once and for all.

Case closed waiting on approval
 
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