Quote:
Originally Posted by lvBlitzforce
I know the money is gone but i would like some sort of statement from the doj at least pretending they looked into it or some sort of conclusion. I mean its pretty messed up they got all the FT ordeal organized and paid people back but they cant even give a single statement on the UB case.
The money seized from Cereus on Black Friday was not a substantial percentage of the $50m +/- on deposit at the time. It seems that the missing funds were used to repay the UB and AP cheating scandals from deposits.
When the feds seized the 10-15% it got (I don't recall the number now) Cereus only had about 10%+/- of the deposit liabilities on hand. With no fresh deposits to float the scam coming in, it quickly collapsed. Some of that remaining money went to severance packages to Costa Rican employees.
Brent Beckley served 10 months of his 14 month sentence in prison for his role at AP. It seems he didn't ever have to state on record why the money wasn't there when the run on the bank came. Scott Tom is still at large.
The money is long gone. The government has very little of it. The best conclusion is that stiffed players paid the bill for the insider cheaters.