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| Internet Poker Discussions of Internet poker venues. |
05-15-2011, 08:38 PM
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#301
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old hand
Join Date: Aug 2010
Location: Boston, MA
Posts: 1,355
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Re: FTP Answers 5/15
classic full tilt....guys you will get your money just as soon as they generate enough rake from the Euro players to cover the payouts. Guess those executive bonus' did you guys in.
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05-15-2011, 08:38 PM
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#302
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grinder
Join Date: Aug 2009
Posts: 526
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Re: FTP Answers 5/15
Quote:
Originally Posted by richp
Guys, I am a lawyer. Like you, I wanted to be reasonable and give FTP time to iron out their problems.
But now, unless FTP stops jerking us around promptly, I think I am going to have to talk to my partners about suing FTP, and suing the "owners" of FTP (whomever they might be, rumor is that it includes some well-known pros) on an "alter-ego" theory. That is, when you own a corporation and don't properly respect it, you don't get the benefit of hiding behind the corporation, and you are personally responsible for its claims. This is particularly true if the "owners" received distributions when creditors were not paid.
If I sue them, it's gonna be here in my home state of California. Maybe we'll serve a few of these pros with the lawsuit at the WSOP...
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This would be the nuts. Def do it
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05-15-2011, 08:39 PM
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#303
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Masochistic Moderator
Join Date: Feb 2009
Location: Bobo Fett's biggest fan
Posts: 13,801
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Re: FTP Answers 5/15
Quote:
Originally Posted by coinflipper
there should be no guessing as to why u.s players cant be paid. its obvious and right in front of you.
the funds related to u.s players were kept in u.s bank accounts listed in the indictment and now frozen. the funds related to international player pool were held in international accounts (some also listed in indictment) but could not be frozen because the doj has no jurisdiction on them. which is why its business as usual for international players.
ftp only has 2 ways to pay u.s players:
negotiations with doj to unfreeze those bank accounts (could take very long time)
pay u.s players out with revenue they are currently generating (could also take a bit but not nearly as long as option 1)
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I think your theories are valid, but I was specifically addressing what I saw as a deficiency in the linked blog post.
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05-15-2011, 08:39 PM
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#304
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adept
Join Date: Mar 2007
Location: Federal District
Posts: 859
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Re: FTP Answers 5/15
Quote:
Originally Posted by richp
Guys, I am a lawyer. Like you, I wanted to be reasonable and give FTP time to iron out their problems.
But now, unless FTP stops jerking us around promptly, I think I am going to have to talk to my partners about suing FTP, and suing the "owners" of FTP (whomever they might be, rumor is that it includes some well-known pros) on an "alter-ego" theory. That is, when you own a corporation and don't properly respect it, you don't get the benefit of hiding behind the corporation, and you are personally responsible for its claims. This is particularly true if the "owners" received distributions when creditors were not paid.
If I sue them, it's gonna be here in my home state of California. Maybe we'll serve a few of these pros with the lawsuit at the WSOP...
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gl with this im sure you will succeed (lol)
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05-15-2011, 08:40 PM
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#305
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grinder
Join Date: Aug 2009
Posts: 526
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Re: FTP Answers 5/15
Quote:
Originally Posted by coinflipper
there should be no guessing as to why u.s players cant be paid. its obvious and right in front of you.
the funds related to u.s players were kept in u.s bank accounts listed in the indictment and now frozen. the funds related to international player pool were held in international accounts (some also listed in indictment) but could not be frozen because the doj has no jurisdiction on them. which is why its business as usual for international players.
ftp only has 2 ways to pay u.s players:
negotiations with doj to unfreeze those bank accounts (could take very long time)
pay u.s players out with revenue they are currently generating (could also take a bit but not nearly as long as option 1)
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But wouldn't this way be breaking the same laws they did in the first place?
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05-15-2011, 08:40 PM
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#306
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adept
Join Date: Nov 2010
Location: Deuces
Posts: 1,100
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Re: FTP Answers 5/15
anyone who works for FTP or promotes them should be ashamed of themselves right now.
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05-15-2011, 08:46 PM
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#307
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Pooh-Bah
Join Date: Jan 2004
Posts: 5,014
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Re: FTP Answers 5/15
Quote:
Originally Posted by coinflipper
there should be no guessing as to why u.s players cant be paid. its obvious and right in front of you.
the funds related to u.s players were kept in u.s bank accounts listed in the indictment and now frozen. the funds related to international player pool were held in international accounts (some also listed in indictment) but could not be frozen because the doj has no jurisdiction on them. which is why its business as usual for international players.
ftp only has 2 ways to pay u.s players:
negotiations with doj to unfreeze those bank accounts (could take very long time)
pay u.s players out with revenue they are currently generating (could also take a bit but not nearly as long as option 1)
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options 3 and 4 are to take out a loan or to sell some of the company. there's a good chance they are currently shopping around for the best deal they can get along these lines and that's why they can't say exactly what the timeline will be.
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05-15-2011, 08:47 PM
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#308
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Carpal \'Tunnel
Join Date: Sep 2005
Location: Solitary,poor,nasty, brutish, short
Posts: 9,999
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Re: FTP Answers 5/15
Quote:
Originally Posted by StrippersNBlow
Nope, I haven't gotten mine either.
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05-15-2011, 08:47 PM
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#309
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veteran
Join Date: May 2008
Location: Richmond, Va.
Posts: 2,685
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Re: FTP Answers 5/15
This is such a joke. If FTP ever returns to the US market, I will not be playing there.
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05-15-2011, 08:47 PM
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#310
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old hand
Join Date: Oct 2010
Posts: 1,214
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Re: FTP Answers 5/15
Quote:
Originally Posted by richp
Guys, I am a lawyer. Like you, I wanted to be reasonable and give FTP time to iron out their problems.
But now, unless FTP stops jerking us around promptly, I think I am going to have to talk to my partners about suing FTP, and suing the "owners" of FTP (whomever they might be, rumor is that it includes some well-known pros) on an "alter-ego" theory. That is, when you own a corporation and don't properly respect it, you don't get the benefit of hiding behind the corporation, and you are personally responsible for its claims. This is particularly true if the "owners" received distributions when creditors were not paid.
If I sue them, it's gonna be here in my home state of California. Maybe we'll serve a few of these pros with the lawsuit at the WSOP...
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+1
please do and keep us updated through a thread or blog so that those who can provide support/help can
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05-15-2011, 08:49 PM
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#311
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centurion
Join Date: Jan 2004
Location: brooklyn
Posts: 172
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Re: FTP Answers 5/15
i don't want to be able to cash out, i want to be able to see the funds in my acct from the check that never arrived first and then be allowed to cash out..
FT hasn't handled this ideally but this announcement did state we should receive funds from checks that never arrived or bounced this week, that would be a good start
even if it took a few more weeks or longer as long as i get all the money back i will be happy
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05-15-2011, 08:50 PM
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#312
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enthusiast
Join Date: May 2006
Posts: 63
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Re: FTP Answers 5/15
couple questions
Where is tony g now?
Would it help at all to pressure the DOJ with whatever release of whatever funds they have so we can get our money?
and last:
WHERE THE **** is our money?
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05-15-2011, 08:50 PM
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#313
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adept
Join Date: Aug 2007
Location: Calif.
Posts: 822
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Re: FTP Answers 5/15
Quote:
Originally Posted by richp
Guys, I am a lawyer. Like you, I wanted to be reasonable and give FTP time to iron out their problems.
But now, unless FTP stops jerking us around promptly, I think I am going to have to talk to my partners about suing FTP, and suing the "owners" of FTP (whomever they might be, rumor is that it includes some well-known pros) on an "alter-ego" theory. That is, when you own a corporation and don't properly respect it, you don't get the benefit of hiding behind the corporation, and you are personally responsible for its claims. This is particularly true if the "owners" received distributions when creditors were not paid.
If I sue them, it's gonna be here in my home state of California. Maybe we'll serve a few of these pros with the lawsuit at the WSOP...
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Can you also sue my bookie for me?. What grounds do you have?, is your argument going to be something along the lines of , I wasn't supposed to be depositing, and they werent supposed to be letting me, but I did anyway? I also want to point out, FTP always assures you that your money is safe with them, no where do I see a guarantee that your money is safe FROM them.
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05-15-2011, 08:50 PM
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#314
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stranger
Join Date: Apr 2011
Posts: 6
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Re: FTP Answers 5/15
Generally speaking, as a person, I am as calm as they come. This has just crossed the line for me. I need to go break something...
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05-15-2011, 08:52 PM
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#315
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grinder
Join Date: Aug 2010
Posts: 648
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Re: FTP Answers 5/15
I keep waiting for FTPDoug to pop back in with a:
"Just Kidding!! Withdrawals will start next week!!"
... or something along those lines...
Wonder what the odds of that to happen are?
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