Email-Gate 3.0: How Jed Met Crooked Peter, Part 1

Today’s post is the first segment in a multi-part prequel to Email-Gate 1.0: The Return of Crooked Peter.

In Email-Gate 1.0 we showed you emails from Crooked Peter Vessenes in May 2011 where he crashed and burned in a shameless attempt to assert an ownership claim to MtGox based on his prior interactions with Jed McCaleb during MtGox’s founding.  Email-Gate 3.0 will present those interactions.

Crooked Peter discovered MtGox shortly after launch in July 2010 and was immediately inquiring about making markets.

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He then tested the site for a couple weeks before pinging Jed about a some odd trading activity and making a stupid joke.

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After a couple short exchanges Crooked Peter was out of ideas, so he composed a rambling email that ended with a pitch to Jed asking to be his partner.  His selling point was that he had coded a “bitcoin laundering service”.  We’d expect nothing less from this guy.

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When Jed didn’t respond, Peter started spamming him again in what would become a pattern. Jed eventually asked Peter for more on who he was, but Peter didn’t reveal much.

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Who was Peter Vessenes and what was he doing in 2010?

Emails show Peter was working for a software business called ProfitSee, at times flying back to Minnesota for board meetings.

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What was Peter’s role at ProfitSee?

Peter tried to give Jed the impression that he had started numerous businesses and was well versed in raising funds from VCs, but this wasn’t the case.  ProfitSee wasn’t Peter’s company, it was his father’s.  And as you’ll read later on, Peter’s father was the one with corporate finance experience, not Peter.

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What is ProfitSee and what do we know about it?

ProfitSee is still in business today and being run by Peter’s Mom and Dad.  They likely have no idea what he’s been up to.  They appear to be decent people who’ve had the misfortune of simply being related to Peter J. Vessenes.  As bad as it is getting screwed out of money by Peter I can only begin to imagine the pain of waking up everyday being his blood relative.

Peter’s mom, Katherine Vessenes, may be of help.  Apparently Bloomberg dubbed her “America’s best known authority on the legal, ethical and compliance issues facing financial advisors.”

Mrs. Vessenes, are you aware that your son has been living in a legal, ethical and compliance vacuum for years?  If you haven’t already, please try to talk some sense into him.  There are 24,000+ MtGox victims being harmed by Peter’s baseless lawsuit who would appreciate your help. 

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Peter’s father has apparently been contacted enough that his LinkedIn simply states he’s not “Peter J. Vessenes, who is globally known in BitCoin and BlockChain.”  Kinda feel bad for the guy.

Save your ire for Crooked Peter J. Vessenes and leave his parents out of it.

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Apparently the inability to spell bitcoin properly runs in the family, as evidenced by this slide Crooked Peter was hoping to impress Jed with. (More on how Peter bungled the acquisition of at a later date).

Peter Side

Peter, you were supposed to represent the interests of the bitcoin community as the Bitcoin Foundation’s chairman.  You have instead actively screwed over all your constituents for years.  Do you really think your bad business deal entitles you to $16B USD while MtGox customers who lost actual funds deserve nothing?  How can you even look in the mirror?

Drop your claim and disappear.


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