Ok, let's review the facts:
1. The guy halvarez has been bidding on Snapnames since 2005.
2. Other bidders informed Snapnames that there was something specifically wrong with this bidder halvarez, they denied that there is anything wrong, and denied any inside bidders.
3. The guy halvarez was indeed an inside bidder for 5 years, was originally founder, then partial share holder, then VP of engineering. In other words, he knew and probably even hired his entire team.
4. The guy halvarez bought up thousands UPON THOUSANDS of domains every year, and SnapNames claims they didn't notice anything unusual.
Now here is my BIG key points where I can that it is not only halvarez, but probably most of the Snapnames team.
1. All halvarez purchased domains still resolve to Snapnames feed to THIS day. Wouldn't Snapnames realize that this 1 key customer that purchases millions of dollars in domains is not changing DNS on a SINGLE domain?
2. If Snapnames truly investigated his account with all these complaints, wouldn't they see someone bidding from the same IP as their offices? I KNOW for a fact they have these tools to tell where bidder is located since they banned me when I had 2 accounts on same computer.
3. They say he processed refunds. How does a VP of engineering process a few hundred refunds EVERY DAY? You tell me please how that happens without the entire team knowing or being suspicious of something?
4. When did he start processing refunds? When Oversee took over?
This is my conclusion what has happened:
Snapnames started as a company ran by halvarez. In order to get his customers bidding more, he bidded up the auctions but didn't refund his payments at the time. Then he presented the company to Oversee, and Oversee acquired a company that had inflated auction sales.
Oversee took over, and now he was refunding money as it is no longer even his company, but he had access and made even more money from this type of "refund fraud".
As I see it: the majority of the Snapnames team MUST have been in on the scam. Not just him.