Bitshares, Jared Rice, Arise Bank, Developers, A BOA Senior VP, Theft, And CorruptionsteemCreated with Sketch.

in bitshares •  6 months ago

Many of us heard of the shut down of Arise Bank. We also heard all kinds of things about Jared Rice and the type of person he is. According to the information that was posted out there, this was a scam from the start. This conclusion was able to make it onto sites such as Medium.

Well you know the old saying, do not believe everything you read.

Jared Rice is going to settle his case with the SEC. After all the information that was release, he is not going to be charged with any crimes. That does not mean charges will not be filed; they just will not be against Rice.

This story is a long and winding road. Part of Jared's settlement with the Feds is that he never talk about this case again. Thus, before he signed his agreement, he decided to do a data dump on @stan's Telegram group. In turn, @stan copied it into a couple of posts on Steemit to ensure the information is publicly stored for all to see. It is rather difficult reading in that format but the goal was to get the data out there.

He names names and provided evidence supporting what he is saying, both links to articles and court documents.

This is going to take some time to put it all together for you.

Hence the reason why a series of articles will be written covering this topic.

The goal of Arise Bank was to establish a decentralized bank on the Bitshares network. This was the aim of Jared all along. As you will see throughout the story, there was many who conspired to ensure this did not happen. Now that the parties are named, and publicity following, I think you can expect a great deal more from this story.

With any case, there are a variety of players, so let us name them all.

Jedi Master = Jared Rice
@stan Larimer
Ted East/Inspector Gadget = Cody Marx Baily
Fav = Mathias (operates crypto exchange)
Mark Rasummussen = Cody's attorney
Fred Constantinesco Sr = BOA Sr VP
Fred Costantinesco Jr = Cody's Partner
Digital Lucifer - @stan and Michael wanted to entrust with
Ronnie B
Arnold Spencer

Some of the names obviously used aliases. These usernames are tied to online personas developed to hide their real identities. As you can see from the cast, connecting the dots should begin even without knowing the story. It is easy to see the ties these people had to each other.


Rice has proof there was major collusion going on at the top of Bitshares. This is shown by linking all the members together. It is a total web of lies, aliases, and deception.

The entire process was started by Mathias/Fav. Mathias is his real name and he goes by the persona of Fav in his online dealing. While both have online accounts, Mathias enables him to enter real deals.


Fav was the one who sent the SEC after Rice. It was he who initiated the claims. In fact, it was hit Tweets that were the basis for some of the appendix filings by the SEC.


Ronny B is an market investor who does not like crashes. He was heavily invested and the Arise taken-down caused a major dip. This caused Ronny some serious losses which led to him fabricating a story about being hacked and having money stolen. It was b.s. since it was nothing more than investment losses. Nevertheless, there is a tie between Ronny and Fav.


Ronny knew Fav's real name. And he was upset. So Fav, I guess trying to help out, hatches a scheme.


The raid on Rice and Arise Bank took place on January 20th. Fav was aware what was happening and posted about it a the day before. This is all documented in the data Rice dumped.

For those unaware, the FBI raided Rice and took him at gunpoint. This was done as a result of lies told to the SEC. As you will see in subsequent posts, the layers of this conspiracy go much deeper than the couple of people mentioned. This is a web of deceit and manipulation that resulted in theft.

To give you a clue of where this goes, Jared was setting up a decentralized bank. Everything he had was seized in the raid including all his computers. Guess what was on the computers? The code for the bank. I will give you a wild guess who is also looking at getting into the decentralized banking game. Any ideas?

Bank of America.

Wait until you see the path that his code took.

By the way, @stan spelled some of this out in a script he wrote in a post the other day. With what Jared released, that post is starting to make a lot of sense.

More to come. Please leave any comments and questions down below and I will forward them if I don't know the answer.

If you found this article informative, please give it an upvote and resteem.

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Whoa what did I just stumble upon? This is some juicy drama!!!


It only gets better. This is going to make a great Hollywood movie.

wow ted east thats me im cody marx bailey WOW

thats news to me great detective work

sorry the dip was cuz btc was diving with all coins lmao

So their kinda restarting but in a way with no chance of shutting down?
And their working on low budget bc the raid took all their money?

i was so f***in pissed when that shit went down - i sent some BTC for the ICO - then the SEC jumped in and fucked everybody

I don’t understand half of this post but from the gist of it there was a good project for a decentralized bank and it got shut down because they did not ask the right people for permission. I would say we live in weird times but stuff like that happens probably for as long as there are banks and people to keep in power.

Thanks a lot for sharing. Resteeming all related posts from @stan and yours.

You get back 2 as much as you do to others. 🙌😇

Good summary thanks helps me understand at least some of what is being revealed.