Domain Forum of CHINA

Full Version: Chinese Public Co Stock Gains 10% On Purchase of P2P.com Which Was Once Stolen
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WESDAY,13 May 2015 THE DOMAINS

According to the news from Domain Forum of China on May 13th,FT.com is reporting that the shares in the shares in a Shanghai-listed real estate company known as Shanghai Duolun Industry rose by the maximum 10% daily limit after it changed its name to P2P Financial Information Service Co and announced it has acquired the domain name P2P.com

The company said that the domain name p2p.com, was worth $100 million dollars

“The website currently features a few photos and a Chinese caption stating “This domain is worth $100m.”

While the FT.com story says that the company “registered” the domain p2p.com it clear didn’t register it but bought it.

P2P.com was first registered on May 1, 2005.

The domain seems to have been acquired by the Chinese Company, somewhere around February 2015

If the domain name P2P.com sounds familiar it was a the first time according to Mashable.com that someone was sentenced to prison for “stealing and illegally selling a domain name”

Here is some background from Mashable.com on the domain theft that has now wound up propelling a Chinese company up to the 10% daily maximum share price increase:

“Daniel Goncalves of Union Township entered a guilty plea earlier today in New Jersey state Superior Court for stealing the “P2P.com” domain from Mark Ostrofsky, Albert Angel and Lesli Angel. Prosecutors will recommend that he serves a five-year prison term and pay restitution for his crimes.

In 2005, well-known domain name investor Marc Ostrofsky, attorney Albert Angel and wife Lesli Angel acquired the P2P.com domain for $160,000 from Wisconsin-based Port to Print Inc. According to Domain Name News, Goncalves allegedly hacked into Angel’s e-mail account and used information from it to retrieve the login details for P2P.com and transferred the domain to his Godaddy account.

After transferring the domain to his name and attempting to cover his tracks by faking a PayPal transaction between himself and Albert Angel, Goncalves sold the domain to NBA basketball player Mark Madsen, who didn’t know the domain was stolen, for more than $100,000 on eBay. The Angels quickly took their case to New Jersey and Florida (their state of residence). Eventually the investigation led to Goncalves’s arrest by the New Jersey State Police Cyber-Crime Unit in 2009.

Goncalves is the first person known to be arrested for domain name theft in the U.S. Because of its unique status, it could serve as a precedent for other domain theft cases.”

This is the second time in a week however that a major publication didn’t dig into a domain name before reporting on it repeating the company’s story that they just registered the domain.

Last week we reported that many publications were claiming that the Presidential Candidate Carly Fiorina simply forget or missed registering the domain name CarlyFiorina.org which we proved was inaccurate since she owned the domain name and then let it drop which none of the mainstream press nor the candidate ever corrected.

Of course it would have been nice if FT.com picked up on the stolen domain story as well.