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When I hold R and start the psp i am taken to a screen that says the update failed because the file(s) were corrupt because I downloaded them from the wrong people. It tells me to make a folder named PSPNEWS_ARE_STEALERS_I_WILL_NOT.....
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It tells you what ??
I cannot believe this !!!
However if this is true and tells you to place an eboot somewhere, you dont have to do that !!!!.
FIRST Download new files from a reputed site like pspslimhacks.
you have to place the ofw files in the ms's directory only not in some other folder .
however you can also put them in hellcat's folder.( I am assuming you have renamed them to whatever firmware version it is ex: 371.pbp )
And by the way it does not start updating as soon as you boot up holding R.
It shows you a menu.Then you have to run the option saying run recovery program at psp\game\rec...
This should boot up hellcats recovery flasher.
AND have you placed hellcats folder into psp\game\recovery directory ????
As your psp is bricked, use the toggle usb at recovery menu to do that.