***The OFFICIAL 2012 Microgaming Regulars Thread***

[Bulabula]

I don't buy for a second that the board of the holding company didn't know what was going on. It's a small company, they are all probably buddies and now when it all turned to **** for them the easiest way for them to handle it is to blame the head of the poker subsidiary and launch an "investigation". And if it was so easy to use money from the players fund to cover expenses there was nothing stopping them from taking players funds and putting it in their own pockets either. ****s

[jokotokolino]

If u live in Sweden please report a file a the Police there. I know some others will do. The Police will investigate everything that happened.

[UnderCover_Pro]

Originally Posted by Bulabula

I don't buy for a second that the board of the holding company didn't know what was going on. It's a small company, they are all probably buddies and now when it all turned to **** for them the easiest way for them to handle it is to blame the head of the poker subsidiary and launch an "investigation". And if it was so easy to use money from the players fund to cover expenses there was nothing stopping them from taking players funds and putting it in their own pockets either. ****s

Agree this looks a case of straight up fraud IMO even more so if they were still taking deposits.

[jokotokolino]

Here is a video of the biggest thieve. So proud to have his company stocklisted and filling his own pockets.....

http://www.youtube.com/watch?v=PhVmhn-j1-s

[B1ingB1angB1aow]

http://pokerfuse.com/news/poker-room...ws+Articles%29

Sigh for 50-50 players.

[Bulabula]

Originally Posted by jokotokolino

If u live in Sweden please report a file a the Police there. I know some others will do. The Police will investigate everything that happened.

What can the Swedish police do if the company was listed in Malta?

[jokotokolino]

Originally Posted by Bulabula

What can the Swedish police do if the company was listed in Malta?

Because the mothercompany was stocklisted in Sweden and also settled in Sweden. Their only activity was 5050Poker. The CEO is Swedisch. The CFO is Swedisch and all boardmembers are Swedisch and almost all live in Göteborg.

[droller]

Originally Posted by B1ingB1angB1aow

http://pokerfuse.com/news/poker-room...ws+Articles%29

Sigh for 50-50 players.

This is just so disgusting. This whole industry is a complete joke. You can't trust anyone or anything. Someone is always running away with players money.

The "authorities" are what really tilt the F out of me. They are literally nothing and do nothing. They're just websites created by some little ****ing thieves that deserve to die in a grease fire.

Hope not many of you had funds on here. Just another example of why there really isn't any reason to keep more than 30 buyins on a poker site.

[LuisBrandao]

This should not affect other rooms in the network, right?

[imfromsweden]

Whats the point of a site having a license? What are the licensing companies doing all day?

[TheRick]

I asked them that question just now, IFS.

nsfw language

Spoiler:

You can contact them here: http://www.lga.org.mt/lga/home.aspx

[dangerfish]

It is very tempting to launch a publicity campaign online outing 5050 for leaving the players high and dry. The fact that they think they can wash their hands of the poker department and run business as usually makes my stomach hurt. I am sure their spots betters would be impressed by the way they apparently handle adversity within the company. "no no, your money is safe ... it was just the poker division we decided to screw over"

[jokotokolino]

5050Poker can u please stop lying. God damn u guys are so sick...........€ 150.000 fine??? U mean we putted € 150.000 in our own pockets!!!

MICROGAMING POKER NETWORK CLARIFICATION IN RESPECT OF 5050 POKER STATEMENT 3 JULY 2012

ISLE OF MAN – Microgaming Poker Network (“MPN”) has taken note of a statement by 5050 Poker, placed on its website and dated 3rd July 2012. We think it important to clarify certain points raised within the statement.

5050 Poker did not pay €150,000 in fines. From April 2010 to June 2012, a system of reallocation of funds between Operators, called “Rake Reconciliation”, was used on the Network. Rake Reconciliation corrected the imbalance that occurs in a poker network ecosystem when rake is the only valuation metric. Similar methods are in use on other networks and are industry standard. It is this system of funds reallocation that is referred to in 5050 Poker’s statement, not “fines”. It is important to note that the reallocation of funds takes place between Operators within the Clearing House bank account, which at no time holds player balances from any Operator on the Network. MPN cannot access an Operator’s player accounts.

The suggestion that MPN imposed a simultaneous table restriction on 12 June 2012 without prior warning is incorrect. On 4 May 2012, all operators on the Network, including 5050 Poker, were notified of the restriction rule, which states that the number of simultaneous tables a single player may play on an operator may be temporarily reduced for the betterment of the network ecology. The specific application of this rule to 5050 Poker was notified to them mid May, and put into effect in June. The rule was put into action with three operators, one of whom was 5050 Poker.

[Zendo]

Disgusting that this 50-50 scandal occurs right after the Purple Lounge one. LGA are a joke of a licensing company and even though it is a requirement to keep player funds segregated under their licensing, it CLEARLY isn't enforced, hence you are just putting your money at risk by playing at a skin they regulate.

This was the case for both Purple Lounge and 50-50. Just to note that Nordicbet and Unibet are both licenced by them too.

[MinusEV]

Originally Posted by imfromsweden

What are the licensing companies doing all day?

They design cool, authoritative looking logos that poker companies can put on their web-sites.

Oh, and collect money.