More Trouble for Fabian/Manwin

[mikesouth]

From Germanys "Die Welt" the original German version is here This expands in Fox's coverage and answers the question of how the loan was secured.



Probably the best kept secret of the German porn entrepreneur Fabian Thylmann, 34, has nine digits and a dollar sign. It is a loan that helped him to probably the world's largest provider of Internet pornography ascend.

With the million-credit Thylmann funded in the past two years, the rapid expansion of its group of companies Manwin. Today, his empire includes popular porn sites like "Pornhub", "MyDirtyHobby" or "Reality Kings" - a mix of free and fee-based websites that are clicked daily by many millions of people.

How much money is on the credit went and exactly where it came from: In Thylmann has so far been silent. "I will not tell you the amount," he said early last year in Las Vegas during one of his rare public appearances, "please do not ask."

Whether they are funds because the New York financial district, Wall Street-based hedge fund, he explained only. Since then, the industry speculated on Internet forums and blogs. Even from the Eastern European Internet Mafia have already spoken.
The new trail leads to Wall Street

The "world" was in September last year as the first media reports about questionable business practices at Manwin, while already the volume of 28 April 2011 agreed loan unveiled: 362 million U.S. dollars.

As a trustee, a company called CB Agency Services is based in Delaware, a U.S. state, which is considered a tax haven. Commercial register of the CB Agency services were designed so that the backers were unable to identify. The trail to the donors ended here. So far.

According to new information from the "world" the money trail actually leads to the Wall Street . The CB Agency Services is a subsidiary of Colbeck Capital Management, founded in 2009. This is also reported in Delaware, but the bosses are sitting in New York, in an exclusive area near the Central Park

Two former employees of the investment bank Goldman Sachs , their names: Jason Colodne and Jason Beckman. Colbeck is a creation of the two surnames. Also, CB stands for the initials of the bankers.
The sleazy image does not disturb the Goldman boys

Jason Colodne and Jason Beckman worked from 1998 to 2004 at Goldman Sachs. They took care of that time to "distressed assets", high-risk assets, as well as high interest rates. Deals just tricky. As those with Thylmann.

"Because of the high reputational risks to our investment committee had not approved such a commitment," says a manager who has worked for a famous Anglo-Saxon hedge funds.

The sleazy image scares apparently from many investors. Goldman Sachs also distances himself today by the former employees and we value the statement. "We had and have no business relationship to Colbeck Capital Management and its two founders"

All the way up it went for Colodne and Beckman at Goldman Sachs never . They made it in the hierarchy only to the third of five levels of management. Nevertheless, they are for some time to New York high society and maintain an extravagant lifestyle.

Internet photos show at beach parties on luxury yachts, at charity receptions, alongside prominent football player and in silly Halloween costumes. The duo themselves photographed with real celebrities and those who would like it. Beckman's fiancee is Fabiola Beracasa, a member of the publisher Hearst dynasty.
The other donors are true

Jason Colodne gained some notoriety in the United States through his involuntary retirement from the private equity firm Patriarch Partners. In 2008 he made a guest appearance alongside his then-girlfriend in the reality show "The Real Housewives of New York City." Apparently reason enough for his former employer to fire him. Colodne sued Patriarch Partners then to 55 million dollars in damages. It was agreed at that time behind closed doors and no longer speaks in public.

For the first time Manwin also responded in writing to a questionnaire of the "world". The answers were thin. They could be donors and money brokers say nothing and is bound by "various confidentiality agreements."

One seems to be very likely: The two Wall Street bankers are not the real backers of Fabian Thylmann, they only act as intermediaries for capital Manwin and collect fees for their services. But where will the money is for the million-credit to the German Porn business owner?
Hedge funds with infamous German past

The two bankers are today among other business dealings with the billionaire and owner of the Pittsburgh Penguins hockey club rumored Ronald Wayne Burkle. Whose money was not, however, flowed to Thylmann how Colbeck Capital negotiated the "world" says: "Mr. Burkle never had any involvement with Manwin."

The American news channel Fox News reported that Colodne and Beckman had split the loan in tranches at Manwin and relayed on Wall Street. One of the investors is the New York hedge fund Fortress Investment Group.

Fortress in Germany enjoys a rather dubious reputation . 2004 the Americans took over the public housing company Gagfah, which are now around 150,000 homes. They took him to the stock exchange. Then there were increasing complaints from tenants' associations, the new owners saved on repairs in favor of the return.

Whether German housing or a global porn empire - Fortress seems the loss of image disturbing little unless the return is correct. However, to learn from the environment of Fortress also that the hedge fund had taken only a short time a small portion of the loan and sold it immediately, as allegations were publicly Thylmann.
Thylmann is against millions on bail

Since last December, slammed the German tax investigation. The ransacked Thylmanns Villa in Brussels and the Manwin office in Hamburg. The Manwin boss spent several days in custody.

Only towards the payment of a two-digit million bail he returned released. His passport retained a the authorities. Two German prosecutors investigate now against the employer. It's about the suspicion of tax evasion and the distribution of pornography to minors .

The confidence of Jason Beckman and Jason Colodne in Manwin and his German boss however seems unbroken. Despite all the negative headlines, despite the threat of prosecution and possible tax penalties in Germany

"There is no concern that the company can meet its obligations in the ordinary course of business," shares the Colbeck Capital, on request. Manwin also stressed: "The company does not believe affect the investigations relate to the business or to service the debts."
Fate of Manwin is linked to the credit

Everything else could it mean for Thylmann the loss of his company. As security for the loan Manwin apparently serves the entire enterprise network which extends from Luxembourg to Hamburg and Ireland to Canada, and Los Angeles. Even a subsidiary in Cyprus is just with their bank accounts and even their office furniture how to show documents of the Trade Register.

So far, the first tranche of the loan is paid off with $ 160 million. According to Colbeck Capital, the second tranche has not been frozen, as is rumored in the industry.

The serenity of the two Jasons resulting perhaps from experience with questionable business partners. In 2008, the bankers were working for Guy de Chimay. The charismatic investment banker succeeded in becoming a member of the Belgian nobility and lured investors by claiming to manage $ 200 million for his own family.

Three years later, the supposed nobility emerged as a con man who had fraudulently obtained seven million U.S. dollars with a Ponzi scheme, to pay for his divorce. He was sentenced by a New York court to several years in prison. For Jason, the thing is now clear: "We were among those who were deceived by him."

[Harmon]

inb4thalock... now back to reading

[Supz]

the german to english transaltion is not very good.

[Harmon]

Originally Posted by Supz

the german to english transaltion is not very good.

Neither is your capitalization

[AsianDivaGirlsWebDude]

ADG

[RyuLion]

[L-Pink]

I wish nothing but the worst for all involved.

.

[Captain Kawaii]

Anal rape in prison for them all.

[slapass]

I don't see an issue. It just stated the facts as we have known for months.

[nnweb]

Who gives a fuck if the money came from wall street or the mormon church.

If everyone quit fantasizing about him you may reach 1% of his success.

[AsianDivaGirlsWebDude]

In other recent Manwin news...

Playboy Radio No Longer Available

As of March 14, Playboy Radio is no longer available on SiriusXM Radio. For uncensored adult content 24/7, tune in to Radio Sex (channel 103). We hope you will tune in to Opie & Anthony and Ron & Fez on The Opie & Anthony Channel (channel 105), and The Howard Stern Show on Howard 100, if you aren?t already a listener.

Another current topic is Manwin's money in Cyprus (and how much will be there next week): Manwin Billing CY Ltd- 6 Loanni Stylianou, 2003 Nicosia, Cyprus



ADG

[baddog]

Delaware is a tax haven.

[MaDalton]

50% of all Fortune 500 companies have their holdings registered in Delaware

[Cystomatic]

Can you link us to the actual German article?

[AsianDivaGirlsWebDude]

Originally Posted by Cystomatic

Can you link us to the actual German article?

One of these two, I think:

http://www.welt.de/print/wams/wirtsc...ll-Street.html

http://www.welt.de/wirtschaft/articl...-Imperium.html



ADG

[Markul]

Interesting read.

[brassmonkey]

Originally Posted by MaDalton

50% of all Fortune 500 companies have their holdings registered in Delaware

DuPont, SLM

[Robbie]

Originally Posted by nnweb

Who gives a fuck if the money came from wall street or the mormon church.

If everyone quit fantasizing about him you may reach 1% of his success.

His "success" wasn't EARNED in case you didn't notice. He was given "mystery money" and owns sites that are profitable off the backs of others.

That's not "fantasizing". That is outrage.

[brassmonkey]

Originally Posted by Robbie

His "success" wasn't EARNED in case you didn't notice. He was given "mystery money" and owns sites that are profitable off the backs of others.

That's not "fantasizing". That is outrage.

what makes you worry about his business?

[mikesouth]

Originally Posted by slapass

I don't see an issue. It just stated the facts as we have known for months.

Actually theres a lot of new stuff in there Fox reported the loan at 167M Die welt said its 2x that

this is also the first mention of how the loan was secured....which REALLY sounds fishy but more on that later

theres b/g on the colbeck guys...theres plenty new here even if the google translation is a bit spotty

[BAKO]

I seriously do not give 2 shits. I worry about my own. Successful people never hate

[slapass]

Originally Posted by mikesouth

Actually theres a lot of new stuff in there Fox reported the loan at 167M Die welt said its 2x that

this is also the first mention of how the loan was secured....which REALLY sounds fishy but more on that later

theres b/g on the colbeck guys...theres plenty new here even if the google translation is a bit spotty

But we aren't sure what the second tranche entailed. It is not always equal.

The loan security sounds right. This is not a real estate intensive industry.

[mikesouth]

You are correct but the loan security has to have value I dont see manwins pre-loan holdings having anywhere near enough value to secure a 360M dollar loan and if somehow bankrupt multi-failure Fabian did manage too get such a loan the interest rate would be astronomical.

and seriously what could manwin possibly own that would be of any value to colbeck capital? Brazzers? i doubt it....I suspect that when its all said and done we will find that loan was secured with cash....now reckon where that kind of cash would come from and if it was secured with cash why take the loan to begin wth


Sundin might have some answers...or Bob Rice...

[DWB]

Originally Posted by BAKO

I seriously do not give 2 shits. I worry about my own.

Considering you sell content that belongs to others, there isn't much for you to give a shit about. Though, it would be interesting to ask all the studios you sell for (who are mostly going out of business) what they have to say about all of it, as I'm sure they give more than 2 shits.

[Due]

Originally Posted by mikesouth

You are correct but the loan security has to have value I dont see manwins pre-loan holdings having anywhere near enough value to secure a 360M dollar loan and if somehow bankrupt multi-failure Fabian did manage too get such a loan the interest rate would be astronomical.

and seriously what could manwin possibly own that would be of any value to colbeck capital? Brazzers? i doubt it....I suspect that when its all said and done we will find that loan was secured with cash....now reckon where that kind of cash would come from and if it was secured with cash why take the loan to begin wth


Sundin might have some answers...or Bob Rice...

Investors are not that hard to find, especially not in a time where the stock market was / is shit. We have a larger project that has been in the works for about 2 years now and I had several people asking me if it was something they could invest in.

Lots of loans or investments are done based on the idea without any types of security

[adultmobile]

I see no any news.
There is some confirmation of previously unconfirmed rumors on who are the accountants or financial institutions who made the deal, but not if the money came from the mormons or the republican senators pension fund. Who would own manwin in case Fabian loses it.

[AdultPornMasta]

If Manwin collapses, the entire industry will be very seriously and negatively affected.

Watch your money boys and girls as your money could very easily be put into motion, making the numbers of the epass debacle look like chump change.

[slapass]

Originally Posted by mikesouth

You are correct but the loan security has to have value I dont see manwins pre-loan holdings having anywhere near enough value to secure a 360M dollar loan and if somehow bankrupt multi-failure Fabian did manage too get such a loan the interest rate would be astronomical.

and seriously what could manwin possibly own that would be of any value to colbeck capital? Brazzers? i doubt it....I suspect that when its all said and done we will find that loan was secured with cash....now reckon where that kind of cash would come from and if it was secured with cash why take the loan to begin wth


Sundin might have some answers...or Bob Rice...

I disagree. When the chance to "buy" the original manwin properties came up, they had a cash flow and that would secure the loan. As he performed with that, the more he could borrow. It was probably then turned in a securitized loan and sold off. Honestly this is how all banking is supposed to work. They help you build your business through growth and acquisitions. As you become more proven you get access to better markets/rates.

That might also explain the all encompassing security arrangement. It was made after they were a going concern and to provide a decent loan to value.

[signupdamnit]

Originally Posted by AdultPornMasta

If Manwin collapses, the entire industry will be very seriously and negatively affected.

Watch your money boys and girls as your money could very easily be put into motion, making the numbers of the epass debacle look like chump change.

If Manwin collapses some scumbag will be there to snatch up the properties and continue on with the usual crap. I wish it weren't so. But it should send a strong message that pushing piracy and paysite industry destruction isn't as lucrative as some might think.

People can say what they want but Manwin is a victim of Manwin's own "success". The traffic they control would be worth 10 times what it is now versus 2005 if they hadn't been so "successful" in decimating the paysite industry.

[AdultPornMasta]

Originally Posted by signupdamnit

If Manwin collapses some scumbag will be there to snatch up the properties and continue on with the usual crap. I wish it weren't so. But it should send a strong message that pushing piracy and paysite industry destruction isn't as lucrative as some might think.

People can say what they want but Manwin is a victim of Manwin's own "success". The traffic they control would be worth 10 times what it is now versus 2005 if they hadn't been so "successful" in decimating the paysite industry.

True dat.

Manwin tried to get it all and failed. The entire industry will now pay for that failure.

[signupdamnit]

Originally Posted by AdultPornMasta

True dat.

Manwin tried to get it all and failed. The entire industry will now pay for that failure.

Then it all crashes down
And you break your crown
And you point your finger
But there's no one around
Just want one thing
Just to play the king
But the castle's crumbled
And you're left with just a name

Where's your crown, King Nothing?

? 1997 Metallica

(looks like their legal channel otherwise I wouldn't embed it)

[Captain Kawaii]

Originally Posted by AsianDivaGirlsWebDude

One of these two, I think:

http://www.welt.de/print/wams/wirtsc...ll-Street.html

http://www.welt.de/wirtschaft/articl...-Imperium.html



ADG

Their faces just reek of scumbags

[The Porn Nerd]

A few things to consider here:

1. We can try all we want (excellent work Mike) but still we'll never know exactly what money went where and came from whom. So ultimately, it's all speculation.

2. The game ain't over til it's over. - Yogi Berra

3. Downsizing is always an option for the Manwin properties. It will hurt people's jobs (and lives) but the company could sell off assets, obtain partners, find additional funding sources, etc.

4. Only laws will bring back "the good ole' days" (and never entirely). Manwin proved one thing if nothing else, that the tube site model works (for them). Others will continue to employ that business model to varying degrees of success and failure.

5. Hang in there people, it's going to (continue to) be a wild ride.

[Supz]

Originally Posted by Harmon

Neither is your capitalization

I am not the article writer. I'm half idiot. Mike South is a so called journalist.

[AdultPornMasta]

Originally Posted by MisterPeabody

A few things to consider here:

1. We can try all we want (excellent work Mike) but still we'll never know exactly what money went where and came from whom. So ultimately, it's all speculation.

2. The game ain't over til it's over. - Yogi Berra

3. Downsizing is always an option for the Manwin properties. It will hurt people's jobs (and lives) but the company could sell off assets, obtain partners, find additional funding sources, etc.

4. Only laws will bring back "the good ole' days" (and never entirely). Manwin proved one thing if nothing else, that the tube site model works (for them). Others will continue to employ that business model to varying degrees of success and failure.

5. Hang in there people, it's going to (continue to) be a wild ride.

Number 5 for sure!

[Supz]

Originally Posted by BAKO

I seriously do not give 2 shits. I worry about my own. Successful people never hate

Yea, its a pretty wild story. Some rich guys with some rich friends invested in a business. Crazy right? Ground breaking....

[Major (Tom)]

Originally Posted by baddog

Delaware is a tax haven.

It is? We're a Delaware llc. There is no real benefit. It comes down to where you live. I still have to pay all my jersey taxes. There is no break. Maybe if I lived in Delaware, but my accountant said it's actually more $ because of the small fees each year in Delaware--meaning, if we were a nj corp we would still be taxed the same minus the small Delaware fees.
Ds

[AdultPornMasta]

Originally Posted by DukeSkywalker

It is? We're a Delaware llc. There is no real benefit. It comes down to where you live.
Ds

That is because you set up as an LLC and not as a corporation.

Big difference!

Also, finances have EVERYTHING to do with the nexus of incorporation!

[Major (Tom)]

Originally Posted by AdultPornMasta

That is because you set up as an LLC and not as a corporation.

Big difference!

Also, finances have EVERYTHING to do with the nexus of incorporation!

I have an s corp too. I think it only matters with a C corp.
Ds

[GonZo]

Originally Posted by Robbie

His "success" wasn't EARNED in case you didn't notice. He was given "mystery money" and owns sites that are profitable off the backs of others.

That's not "fantasizing". That is outrage.

All the guys worshipping him and that have their mouth open wide for his cock in hopes of getting some cash from him will quickly disappear like those who assured us what a stand up and top notch guy Chris Mallick was....

[AdultPornMasta]

Originally Posted by DukeSkywalker

I have an s corp too. I think it only matters with a C corp.
Ds

Best with a "C" and why people use LLCs at all is beyond me!

[Robbie]

Originally Posted by brassmonkey

what makes you worry about his business?

The fact that he is helping to destroy YOUR business and mine with his tube sites. I concern myself with every facet of the business. I'm capable of multi-tasking. I can work on my stuff AND keep up with what's going on in my industry.

Don't you?

[Konda]

I already suggested here several months ago that the CB stood for Colbeck

[BareBacked]

Originally Posted by BAKO

I seriously do not give 2 shits. I worry about my own. Successful people never hate

[AsianDivaGirlsWebDude]

Originally Posted by AdultPornMasta

That is because you set up as an LLC and not as a corporation.

Big difference!

Also, finances have EVERYTHING to do with the nexus of incorporation!

Originally Posted by AdultPornMasta

Best with a "C" and why people use LLCs at all is beyond me!

If only Fabian had followed your tax advice instead, Sally Dear...

What happened to that onestopcorporationstop website that you used to fly in your Sally Rand sig? What do you know about money laundering?



ADG

[Major (Tom)]

Originally Posted by AdultPornMasta

Best with a "C" and why people use LLCs at all is beyond me!

Flexibility.
Ds

[DWB]

Originally Posted by Supz

I am not the article writer. I'm half idiot. Mike South is a so called journalist.

Mike writes an opinion based blog. He is not a journalist. He also did not write the story he just posted here, that came from Die Welt, a national daily newspaper in Germany that has been in existence longer than you have been alive.

You should probably try to learn the difference between a blogger and a journalist. Just sayin'.

[Black All Through]

Originally Posted by signupdamnit

If Manwin collapses some scumbag will be there to snatch up the properties and continue on with the usual crap. I wish it weren't so. But it should send a strong message that pushing piracy and paysite industry destruction isn't as lucrative as some might think.

People can say what they want but Manwin is a victim of Manwin's own "success". The traffic they control would be worth 10 times what it is now versus 2005 if they hadn't been so "successful" in decimating the paysite industry.

No need to go any further, he said it all!

[tony286]

Originally Posted by BAKO

I seriously do not give 2 shits. I worry about my own. Successful people never hate

Never ? I guess you never read Steve Job's Bio or the bio of many successful people.

[woj]

50.,,.,.,