Culture

Embezzlement, Bank Run Shake EVE Online

In-game role play has come a long way from the days of /bow and faux medieval speechifying. Sci-fi themed MMO EVE Online is a place where players can create their own businesses, form trade alliances and even run their own banks. But where you have virtual banks, you’ll also find virtual white collar crime. Earlier […]
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In-game role play has come a long way from the days of /bow and faux medieval speechifying. Sci-fi themed MMO EVE Online is a place where players can create their own businesses, form trade alliances and even run their own banks. But where you have virtual banks, you'll also find virtual white collar crime.

Earlier this summer, the player-run business EBANK was shaken by an embezzlement scandal when CEO "Ricdic" absconded with 200 billion of the game's currency.

Worried customers made a run on the bank, withdrawing their savings, but the bank remained solvent. But now, things are looking worse for the virtual financial service. Massively reports that EBANK has been forced to freeze customer accounts after a series of defaulted loans put the institution 1.2 trillion ISK in the red.

New CEO Ray McCormack issued a statement to investors regarding the account freeze. The picture he painted of EBANK's books (via thrilling spreadsheets) wasn't pretty. "It is possible the bank has been running at a deficit since its inception," McCormack admitted. "We have no evidence to disprove this."

I'm not sure which sounds more fun: pretending to be a Bernie Madoff type, or taking the role of the guy who has to clean up his mess.

Image courtesy CCP

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