**UPDATE**
The last update on the situation was that PIV owner Cesare Florio had taken "Luckbox Enterprises" to court in Malta, and that we were trying to get confirmation that this mysterious Luckbox company is somehow directly associated with Tim Heath and Muchos Gaming. I've still yet to get any complete confirmation on this, other than a copy of a letter written by Cesare's lawyer which of course could have easily been forged/manipulated.
Since then, I've heard nothing from anybody including Cesare. Cesare told me that the first arbitration was due up before winter of this year so I've been trying to reach him. I have contacted Cesare's cellphone multiple times over the past month, and he seems to have disappeared yet again.
It is starting to appear as though all of the following discussion by Penders is shaping up to be the truth. I have no faith in Cesare Florio's integrity at this point, and I equally have no faith in LGA's ability to perform the regulation they promise.
At this time, my best guess on the truth of the situation is Penders' claims:
Quote:
Originally Posted by Penders
Muchos Gaming N.V. is the company set up to have their Curacao license.
So it would naturally be the Maltese company that Cesare refers to.
@Lefort - From my personal knowledge PIV has taken Muchos to court, but to blame the bankruptcy of PIV on Muchos is ******ed. PIV first of all made more than enough money to cover potential funds being "lost" with Muchos, secondly it is a well known fact that Cesare's money management and gambling habits were the real cause of the bankruptcy. He lied to his associates, he took in new skins showing fake profit and rake numbers and ensured that everything was as it should be. His team lied to the LGA and showed them fake bank, skrill, neteller, and so on, statements where it showed they had funds to cover rolls when they didn't have it.
When **** hit the fan and PIV finally closed down, their records showed they had something like €80,000 in total funds and owed around €2.1 million. There is not a chance in hell that Muchos scammed them for €2.1 million and even so, skins like Howdypoker came in after Muchos left and were deceived into believing it was all safe and pushed to keep players coming in, when the company was already bankrupt before they came in.
So the chances of getting paid, even if PIV wins a case against Muchos is very slim. Potentially we are maybe talking 10-15% of players rolls that can be paid out.
...
@Lefort - You wanted information that could help you and your friends get your money back. There is no money to be paid back, so i didn't want to waste your time.
Personally i don't care if Cesare is "not happy" about the slander, the man lied to my face more than a handful of times, lied to associates about the financial state of his company and told his employees to lie to skins working with them.
The first meetings with the LGA regarding the PIV situation, Cesare even lied to the LGA to try and buy more time and the skins had to sit and fill in the LGA about what the truth really was and come back for another meeting some days later, when Cesare finally admitted to his lies and gave out the correct information to the LGA.
There is no money to be paid to players, there never were after they closed and they won't all of the sudden find the cash, 14 months after they went busto. It doesn't matter if PIV owes Muchos or the other way around, what will it change? We are not talking anywhere close to the amounts owed anyway, giving you a few cents to the dollar if you are lucky and the company get liquidated.
I'm feeling very hopeless that I'm going to receive any % of the money that I am owed by Cesare Florio and PIV Gaming. However, I feel that it is necessary that everyone knows what seems to be the truth about this man and this company, for fear of him stealing other people's money in the future. Even if somehow miraculously he is completely innocent in all this, he has done an extremely poor job of defending himself and making the truth clear. Thus at this point, I have no choice but to believe Penders seemingly unbiased claims.
I'm going to continue attempting contact with the currently useless LGA in hopes that they're starting to fulfill some of their duties as a regulatory association. I'm also following up with my lawyer to reflect and discuss any options we may have to move forward in retrieving any of the money owed to me by Cesare Florio and PIV Gaming.
If you have any additional information regarding this topic and/or any progress with the LGA or legal activity etcetc over the past 6 months, please update the thread so that we're all up to date on the situation.
