I, as a newbie to computing at the time, was a part of of Standard Transactions. I worked as a sort of junior systems admin on the IIS server, database server, and firewall. I was employed there for a period of around 18 months.

The story that was told me to by Loryn was that Elwyn went to Nigeria to get gold to keep Standard Transactions afloat and that he was defrauded of a quarter of a million dollars. However, as I came to know later, at that point the company had already been emptied of funds by commingling customer funds with company operating funds.

Even at that time Nigeria was a well-known source of financial scams so anyone who claims to be as internet savvy as Elwyn and Loryn had to know anything to do with Nigeria was a scam…. If they didn’t, well, what does that say about their online smarts…. And, if that’s simply a cover story told to me why did they need to tell me a cover story when the truth would have helped maintain trust between us? Nothing of the situation rings true.

As employees we were constantly told that the debit card companies that Standard Transactions used to make funds available to its customers were at fault for all the problems with money transfers to cards because we were constantly having to deal with angry customers who couldn’t withdraw their money. We were told time and again that the process was breaking down on the side of Mastercard and Visa, that they had very buggy software. These stories were told to us to cover for the fact that Standard Transactions coffers were empty by both Loryn and Elwyn. It wasn’t until the last couple of weeks of Standard Transactions existance that I really figured out what was going on. At that time I was instructed to as to what transactions listed in the database to manually make available for transfer to the Mastercard people. That’s when I realized that what I have been being told for the past few weeks and months had been nothing but half-truths and outright lies.

In the last few months of operations all employees were required to attend seminars on the east coast of the US that were supposed to teach the employees how to be honest, accomplish their goals in life, etc…. Standard Transactions flew their employees to these seminars knowing they were broke. Were customer funds used to fund these these expensive jaunts for company employees? I can’t prove it but I’d almost have to assume they were as they were a major expense and there was little if any money coming into the company and all expenses related to these jaunts were paid for by the company.

As to Elwyn’s claims that Standard Transactions was set up as a way to do software develpment, well, as someone who was close to his son at that time, or thought so anyway as he and I had been in constant contact for more than year before Standard Transactions/Standard Resever existed, I was not aware that Standard Transactions purpose for existence was for software development. As a person and as an employee I was told that Standard Transactions existed to pioneer a new way to do business, i.e. electronic gold along the same lines as egold and that this was the decades-long dream of Elwyn Jenkins…. This was how the entire concept was introduced to me by Loryn, who posed as someone claiming to be my friend. This was also documented on the Standard Transactions USA website, of which I have a complete copy of all the html pages of one the very last versions which I downloaded during the course of doing my job previous to the systems rebuild we did during the last week after we were supposedly “hacked”, if Elwyn want’s to dispute the fact that the website never even mentioned software development as the focus of the company. If software development was truly the focus of Standard Transactions and Standard Reserve then the public and employees were mislead from the start….

Am I bitter? Yeah. I feel I was lied to. I was made a part of something which defrauded a lot of people, and the story told by Elwyn in this interview doesn’t match up with the stories told to me by Loryn. I’m bothered by all of this as I don’t like being a part of someone being defrauded. I can also say I stayed in contact with several of the Standard Transactions employees for a year or two after the whole Standard Transactions debacle ended and to a person none of them believed in Elwyn Jenkins innocence.