Quote:
Originally Posted by DeathAndTaxes
That ideas has been tossed around but I doubt it has any merit.
I doubt so too. You seem knowledgeable, so just a couple of follow ups:
Quote:
1) FTP is going to court and if they lose are facing up to $1B in damages.
Although I'm convinced the DoJ wouldn't have gone this far if they didn't have a rock solid case, doesn't what they are rewarded depend on a jury/judge? IOW, just because they are asking for $1B, does it mean they will get it? Not sure how that works, but sounds like you might.
Quote:
3) In the event of criminal malfeasance the board and operating executives can be held personally financially liable for any damages incurred as a result of the companies actions (such as players losing everything).
Can be, but does that mean they will? Doesn't the personal financial liability of its officers depend on how the company is set up (i.e. Inc., LTD., etc.). Also, under which jurisdiction would such a case be heard? The same one the DoJ is prosecuting under? Or some foreign court? The corporate wall has been known to be broken through here (Enron comes to mind). Not sure how penetrable it will be in some foreign court.
On an unrelated note, I'm curious about a couple of posters' comments on the chance that Lederer (or any other FT pro) could ever be indicted or convicted of wrong doing, or that they would ever actually see jail time. I personally think it's slim to none with slim being out of town. Everyone and their brother knows these guys own a piece of the actual rake operation, but as I understand it, they have positioned themselves as owning only the software rights. If there were any questions whatsoever about culpability, why wouldn't Lederer's ass have already been in jail and bailed out by now? I don't think these guys stand a chance of being indicted.
On a 2nd unrelated note: Do you think they (Lederer et.al.) deserve any of the blame for US player woes? I don't see how they could have done anything to prevent it, unless they had hands on involvement in day to day operations. Yet, people around here seem to be coming down pretty hard on old Howey.
Quote:
Without those frozen funds FTP doesn't have enough cash on hand to pay players and as a result won't.
Last question: Certainly they could pay something to US players today. If you owed me a dime and said, "Hey, I can't get it all to you now, but here's two hundred in the meantime", I'd happily take it (and think better of you as well). Is it just because this would look really, really, really bad to potential creditors/investors that FTP has not done this?
Thanks for seeming to be one of the few to get a credible, rational hypothesis from. Solid credible answers will probably remain hard to come by for awhile.