In before DF cancels the remaining articles due to NVG haters causing stress to her and her family.

Part 4 is up

Some interesting details in part 4. Hopefully part 5 follows soon after.

Next week she'll reveal the stunning news that Howard said he learned about the $250M hole on April 21 because on April 20 they pledged to repay US players in their DOJ agreement.

We know all of this, DF.

Anyone have any idea what that huge Ivey loan was about?

My guess is that he degen'd a huge amount away in some Macau casino that we never heard about.

I apparently had very unrealistic expectations for this series. If you have not read part 4 yet....save your time. Nothing new. Yet.

Is this getting at the possibility that Ivey was trying to get money out asap b/c he might have known sh.t was gonna hit the fan w/ black Friday in advance?


"There apparently was discussion among at least some of the board members, and at least one source says it was impossible to confirm that the “dire” casino debt really existed, or that Ivey was unable or unwilling to provide such proof as to its existence."

If true, that would be quite the story.

^^ That's what it felt like she was implying when I read it. But she won't even tell us what she was implying until " the significance is revealed later".

Yeah, exactly, it seemed like she was implying that he was trying to grab money before everything collapsed.

Seems like that may be where this is all leading to. The accusation that a lot of the owners were taking as much cash as they could get their hands on because they knew it was about to all come crashing down. I'm just not sure if we'll have a smoking gun or just a lot of evidence that implies this is what people were doing.

Need to take some time and read these soon. Wish you would do vBlogs instead, but I guess you're still going for that Isildur-Mysterious persona.

I don't think that's where she's going.

The board of directors is responsible for authorizing these types of loans. Since it was such a big loan they'd have to look at the finances of the company to make sure it was OK to give such a loan. The BOD should have realized what financial state the company was at that point if they didn't know earlier.

So what do you make of the Ivey loan?

"This is the fourth installment in a series of articles designed to bring attention to some of the contradictions and misrepresentations contained in the Howard Lederer interviews, specifically those conducted with Pokernews.com, now dubbed the Lederer Files and a follow up interview on TwoPlusTwo’s Pokercast. The series will, in each installment, point out key comments that should be remembered. All of those comments will come together in the final chapter of the series to paint a better picture of the story that the facts really tell."

I thought I'd post this in case some people haven't read or digested it (note: not dismissing the criticisms or anything). I think some people reading the articles are overlooking how the articles are structured, possibly at least.

There was a 4th person at Rays house on April 7th...Rafe Furst? They are all board members, which is something all of them have in common.

Ivey's not very good at managing his money. He was making close to $12mil a year from his FTP distributions, so a $20mil loan is big but less than 2 years of distributions. Compare that to the average home buyer buying a house that costs 2-4x their annual salary and it doesn't seem like a crazy number. Weird thing is he gave up his distributions in his divorce. If he did that he must have been making at least that much from his other income sources? Not sure his loan has anything to do with FTP or their problems.

and



lol

I don't think she would have pointed it out and specifically mentioned:

" it was impossible to confirm that the “dire” casino debt really existed, or that Ivey was unable or unwilling to provide such proof as to its existence."

if your thoughts were the case...

"Weird thing is he gave up his distributions in his divorce. If he did that he must have been making at least that much from his other income sources?"

I'm nvgtarding here, but he just gave up those distributions cuz he knew they were pretty much worthless soon imo.

Yeah I think it's pretty surprising how few people have been giving DF the benefit of the doubt over this.

I've seen all of the Lederer Files and listened to the pokercast as well, and this is very informative to me.

+1^^

not sure whether this has been mentioned later in the thread, but companies in ireland have to be independently audited if they turn over more than 8.8 million euros. Im sure FTP would have not been exempt.Prior to 2011 the threshold was less. This applies to prvate companies too.

I don't think it's beneficial to get into a debate over what someone thinks about what someone said about what someone might have heard from someone who might know something but might also not or might just want us to think something. It might be time for me to go back into hibernation on this subject until some real information comes out.

Fair enough, but, you're doing the same thing here... We are both interpreting what we read in different ways, that's all.