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Q&A: Durr answers questions about FTP Q&A: Durr answers questions about FTP

09-20-2011 , 06:25 PM
Quote:
Originally Posted by JerryGarcia
Are you still friends with Ivey?
Is he planning on showing his face again?
yes, i think he was misled and misguided- but at the time i (and many others) agreed with his actions, and i cant blame him for being misled. i think his reasoning was good (but wrong) and i think his intentions were good.

i might be a bit biased about this b/c i really like the guy, so theres a small chance im being blinded and hes a huge scumbag or w/e, but i really think hes a good dude.

only way he wouldnt show his face is if im wrong about the above.
09-20-2011 , 06:26 PM
Quote:
Originally Posted by jweez
In your opinion, if it came down to it, do the FTP board of directors collectively have enough assets to cover all player balances?
lol. i wouldn't be wasting my time with this thread if they were anywhere near close ;(
09-20-2011 , 06:27 PM
Quote:
Originally Posted by mg0698
Your personal opinion , Do you believe the players will ever receive any of there funds?
ya, the software's worth a bit. the money owed by us players who they credited funds to are worth something between 0 and a huge amount. i'm inclined to believe they get 20c or so worst case, hopefully more.
09-20-2011 , 06:28 PM
Quote:
Originally Posted by PostflopNoob
Durrrr, would you suggest there is still at least a glimmer of hope to get our money back?

I mean, what comes next? FTP is torn apart, no possible investor? Lederer/Ferguson/Bitar taking money out of their pockets?
id definitely take 20-1 that ftp pays out right now. i think its a bit >10% but wouldn't take 10-1 b/c i've already got an insane amount riding on it.
09-20-2011 , 06:30 PM
Quote:
Originally Posted by thatpfunk
did ray, howard, and chris turn down an offer to sell post BF? do you know their reasons for turning it down? is that why ivey sued?

appreciate your time and honesty in all this mess.
they never turned down an official offer that would cover player funds and legal liability afaik. i really really think i would know if they did. i think there were some things done that were not in the best interest of the players and very much mismanagement. there were quite a few times that they failed to extrapolate that they could probably get a sufficient offer... but this is my opinion and maybe im just biased and hopeful. Their reasoning was bad imo but not completely criminal/flawed.
09-20-2011 , 06:31 PM
Quote:
Originally Posted by ArcadianSky
are you definitely done with full tilt, regardless of what happens from this point forward?
im never going to be a part of another bank or thing which acts like a bank without having it audited. fk getting freerolled.
09-20-2011 , 06:34 PM
Quote:
Originally Posted by ThatDutchGuy
Does Full Tilt owe you money?
i mean i havent gotten paid since black friday, but i also owe them money. i'll pay what i owe whenever theres a new investor, or a credible liquidator- if not i'll give the $$ to players in whatever way i think is most fair and also legal.
09-20-2011 , 06:35 PM
Quote:
Originally Posted by dag2
Durrr, Can you post in PDF format a copy of your contract with Full Tilt?
if you give me a good reason why i should do this yea. seems like id be freerolling myself tho.
09-20-2011 , 06:37 PM
Quote:
Originally Posted by NerdAtTheCoolTable
What is the player contract for someone who is a sponsored pro of FTP?
varied a lot player to player- hopefully some other sponsored pros will come in here and mention theirs. i feel a little less required to mention mine since im giving all the $$ back, but i feel like people who arent giving all $$ back at least owe the information of what their contract was to the community. feel free to explain why my reasoning's wrong and if u convince me ill go into more detail.
09-20-2011 , 06:38 PM
Quote:
Originally Posted by smooth101
Hey, this actually answers my question as well.

But I have a very some interesting questions that I do not know if you have seen:

http://forumserver.twoplustwo.com/sh...&postcount=554

"durrrr did you knowingly get paid from FTP with player deposits? If you knew that the deposits were not coming in for months did you question where the money was coming from? Are you still planning on committing one million dollars to players that are unable to collect?"
i mean cmon, would i be doing this thread if i was knowingly getting paid with player deposits instead of sitting in costa rica w/ a buncha blow?

obviously that would've made me feel terrible and i wouldve insta-quit ftp and gone whistleblower if they didnt shut down at least us deposits had i found out about a gaping player fund hole pre black-fri.
09-20-2011 , 06:39 PM
Quote:
Originally Posted by hussainsajwani
in your opinion if ftp fails to pay the full amount to players, what ihmo should the fair consequences for the mgt involved
i don't think i should be publicly saying that, im not a judge. i think there should be ramifications for sure for anyone who knew about the hole and sanctioned it.
09-20-2011 , 06:40 PM
Quote:
Originally Posted by Ivan_Drago45
Durrrr, you referred to "one big mistake in 2010" as the initial cause of all of this. Can you elaborate on what this mistake actually was? I saw where you said it was due to crediting player accounts when they couldn't get the money, but I don't understand how doing this once can take a multi-hundred-million-dollar company and put it in the red.
they never stopped doing it from late 2010- read the doj report
09-20-2011 , 06:43 PM
Quote:
Originally Posted by 97Suited
can/will you tell us how much money you owe fulltilt ? and why you took out a loan with them instead of using your own money ?

Thanks again for this thread and actually talking and explaining things
they didnt uphold their end of the contract (i explicitly wanted to be able to play all poker tv shows), and ftp loaning me $$ along with letting me slack off work wise barely kept me ok staying there. I also (regrettably) liked a bunch of the owners (some of them i dont now some i still do some undecided). i owe them less than the total number they paid me but i'll pay both back in similar fashion (the same unless theres some legal issue). if a deal is close to being signed i'll post my $$ in escrow, or if the management is changed i'll ship it tomorrow.
09-20-2011 , 06:44 PM
Quote:
Originally Posted by K_2
Tom are you considering buying the ftp software?
haha its worth way more $$ than i have. if u can get a bank to give me a loan id buy it for 20m in a heartbeat.
09-20-2011 , 06:44 PM
Quote:
Originally Posted by ivvaen
Tom,

Do you know how much $$$, if any, is left in the company at this point?
i could guess but dont think its advantageous to at this point. my guess wouldnt be that accurate fwiw.
09-20-2011 , 06:46 PM
Quote:
Originally Posted by AlwaysDrawing
If you want to be transparent, you should post the contract, so people know you're actually paying back what you received.
couldn't i just have like 20 respected people from the community see it/ see my email showing it was untampered etc. jus seems like im opening up an unnecessary can of worms for myself. plus i kinda deserve 2p2s trust once i pay back over 1m i'd think . that and being able to sleep better are about all i get out of it lol
09-20-2011 , 06:47 PM
Quote:
Originally Posted by FoldNow13
durrrr....there is another thread from a month or two ago called "dwan and galfond claims center." since you did not show up in that thread can we post here to get in line for claims?

or u could go through that thread since those people would be considered "first" in line
http://forumserver.twoplustwo.com/28...enter-1059897/
any payout will be done in a fair and transparent way. there is no line there will be no line and no preferential treatment. everyone will have the same (or as close as possible depending on costs etc) chance at their $$.
09-20-2011 , 06:49 PM
Quote:
Originally Posted by EYESCREW
Durrrr,

Are you aware of any high stakes players depositing onto Full Tilt by directly giving cash to Howard Lederer or Phil Ivey??? This is relevant because it would be nice to know where that cash ended up.


Much respect to you for taking the time to make this thread and answer as many questions as possible...
id assume i wouldve known about it if this happened b/c there were times i wanted $$ on ftp and had lotsa bellag chips. idk of it ever happening but there are rumors. i'd tend to believe no, or if it did prolly back in the day. more likely it was just people trading cash for ftp (and howard/phil/ whoever else having ftp $$ in their own account).
09-20-2011 , 06:51 PM
Quote:
Originally Posted by Rake_Isn't_Funny
Tom,

Were you ever offered equity in the company? Was there any type of profit sharing stipulated in your contract?

Reading some of your posts, I get the impression that you weren't paid the millions and millions everyone thought. I think a lot of people assumed that a lot of the FTP redpros (you, Ivey, etc) had some sort of stake in the company.

Can you elaborate on how your contract was setup?

Thanks, and GL
i didn't have any profit sharing in my contract (i'll dig it up to verify its possible there was a crazy negligible amount). was never offered equity by the company, altho there were occasional times individuals mentioned they might sell shares (happened regularly ish before black fri- i dont think anything suspicious).
09-20-2011 , 06:51 PM
Quote:
Originally Posted by timmay28
Would you accept an interview with an investigative show like 60 minutes?
ya i'll do interviews w/ anyone who wants.
09-20-2011 , 06:56 PM
Quote:
Originally Posted by PartyGirlUK
Tom, why did Phil Ivey take loans from FTP? How much money (if any) does he intend to play back to players? Does he have money to repay players?
not my job to mention people's personal details, im sorry. my reasons were just to have more liquidity/ no liquidity probs (when ppl owed $$ or was coming from somewhere etc) and id assume most other people's were the same. some definitely borrowed $$ they couldn't repay tho. i really don't think phil was the 2nd group.

Quote:
Originally Posted by PartyGirlUK
Do you know of other pros who intend to pay back money? (I understand if you don't want to name them)
a lot of the owners have mentioned they'd like to, or they wanted to guarantee money etc. im inclined to believe a lot of them legitimately wanted to. i dunno how many actually will.

Quote:
Originally Posted by PartyGirlUK
What are your thoughts on Ray Bitar?
im not too fond of him lately. haven't talked to him since apr 17th or so, but its not for lack of trying. I dont think he intended to steal or cost people money fwiw (not to justify his actions).
09-20-2011 , 06:59 PM
Quote:
Originally Posted by Systolic
This is wrong. Tom is trying to make sure he doesn't fall under public scrutiny as a result of all of this it seems..

As such he should be willing to answer the tough personal questions, and he is doing the right thing.
lol aren't i already under public scrutiny? i'll answer any questions i think are relevant, or that a majority of people seem to think are. any that don't fall in that category i'll have a discussion as to why they might be relevant. If you ask me for some big fishes' contact info tho, or my personal phone number, or when i took my last **** im not jus gonna pony up unless im convinced its either relevant or not bad for me. speaking of not bad for me- last **** ws 3ish hrs ago

Last edited by SGT RJ; 09-20-2011 at 07:06 PM.
09-20-2011 , 06:59 PM
Quote:
Originally Posted by dag2
The contract should be posted to show that durrrr did or did not have an ownership interest in FTP fwiw.
if i did im pretty sure the doj will send me to jail... and im pretty sure they'll subpoena a ton of contracts.
09-20-2011 , 07:01 PM
Quote:
Originally Posted by Sven2812
Hey Tom,

thanks a lot for doing this.

If u say it was a really bad decision to credit ppl's accounts with virtual money without being able to get money from their bank accounts, u mean they knew about this problem and just "decided" to not do anything about it, cause this seems like super-******ed to me.
the big question is who knew about it, and when they found out. this is what people should be asking.
09-20-2011 , 07:02 PM
Quote:
Originally Posted by G13
durrrr,

is it feasible that the FTP shareholders will now pay back the money they owe, and that an investor will be able to pick up FTP for a lot less than originally required to pay back all players, and get the site back up and running under new management and possible rebranding?
i think most of the people who owe ftp $$ would've been willing to pay it back at just about any point if it meant a deal getting done. Some were eager to pay it back but didnt want it to go to hands which might misuse it.

      
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