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PSUStudent - Misuse of backer funds *RESOLVED* PSUStudent - Misuse of backer funds *RESOLVED*

05-19-2010 , 08:15 PM
Quote:
Originally Posted by PSUStudent
I admit I made a mistake in mishandling TT's funds. He shipped me 1200 and I was playing 12/180s solely for him. My mistake was I sold action for scoop/mftops and did not realise I'd have to end up buying about $1500 worth of my own action, so had to end up using TT's money to play those packages.
You seem sincere enough about wanting to pay the money back but I find this pretty hard to believe.

Yeah, believe it or not, when you sell off shares for a tourney package, you do have to put up the remaining % yourself. If you honestly didn't realise this until after you had posted the package in the Marketplace, you should have cancelled it and sent back to investors. If you had an agreement to play $12/180s "solely" for TT, then using his money for anything else (let alone, to play in big-field, high buy-in tourneys) is scamming him.

Anyway, I hope this gets resolved and that you can learn from it.

gl
05-19-2010 , 08:38 PM
Quote:
Originally Posted by Left 4 Dead
lol indeed.
big lol
05-19-2010 , 08:52 PM
He lied initially because it was his natural instincts? wat? A miscalculation? Are you serious? When making calculations with money people invested with you, how the **** can you miscalculate by $1500? Even if it was an honest mistake, who is so careless with investments that they would make such a huge miscalculation?

If I was to guess, Id say you just figured "ah well, I have TT's investment, Ill just use some of that now then grind it back before he even notices". Tbh, Id rather back a guy with a name that rhymes with PlackFerbil1 than you again.

And then seeking stakes from others once you knew you were in serious debt? ****ed up ****, you should have just come clean.

Some flaws are tolerable. Lieing is not one of these, ever.


Bought some of your SCOOP action. But never again.


TT_fold, thank you sir.
05-19-2010 , 08:56 PM
Quote:
Originally Posted by Left 4 Dead
lol indeed.
lol

dumpaments
05-19-2010 , 08:56 PM
PSU,

Obviously removed marketplace approval until this is cleared up.
05-19-2010 , 08:58 PM
But in all seriousness - I realize you're pissed about the situation TT_fold - but do you think that attitude is more or less likely to get you paid?

I mean I oversee a collections department at a financial institution and if any of our collectors ever acted like that talking to a debtor they'd be gone. You don't exactly get paid like that. But its your money - your call.
05-19-2010 , 09:23 PM
Quote:
Originally Posted by chilin_dude
PSU has made a massive mistake and bad error/judgement but pretty sure he's going to sort this out. Not vouching for him never talked to him ever just this doesn't seem like a scam, just a dude that has ****ed up completely and is going to try and get back on the right train as soon as possible.

GL to both of you.
Yes, yes and yes, 100%. ty and gl to you too.

Quote:
Originally Posted by tdomeski
Man, I mean you guys can say all you want about how he made a mistake and didn't mean any harm by it and will likely pay TT_fold back as soon as possible, but the facts are the facts. He took a 12$ 180 man stake from someone who would front him 100 buy ins, and then used that to freeroll action in SCOOPs and mFTOPS. To think that this was just an "honest mistake" is kind of hard to believe. I believe it was totally premeditated, and he just thought he'd either profit overall in the SCOOPs and mFTOPS and be square or have enough time after the fact to get more money online to get square.

You guys realize the people who steal money when they are bust are just as wrong as the people who steal money when they are flush, right? I think some people equate trusting him to pay off investors if he won money with overall trustworthiness. They aren't one in the same.
This isn't true. We actually ended our stake once earlier due to other differences and sorted it out again and restarted around 22nd. I didn't even know if I was going to play SCOOP/mFTOPS at that point. There was no premeditation, I didn't even know if I was going to have a deal or what kind kind of deal.

Also, I decided to sell pieces for the two series really late in the day and wasn't even sure if it will sell or what I wanted to play and never had sold pieces before.

Here's a chat where I mentioned to TT on aim that I'm considering selling pieces, wasn't even sure what I wanna sell etc

Friday, April 23, 2010
PSUStudent(5:17:31 PM): hey did u want daily updates or
TT_fold (5:17:41 PM): nah, i can always check sharkscope on my own
TT_fold (5:17:50 PM): how are you doing so far just out of curiosity
PSUStudent(5:17:54 PM): o cool
PSUStudent(5:18:32 PM): well yestday was a good start plus 150 something, didnt run good today, dropped like 300
PSUStudent(5:18:39 PM): best finish today was 4th
PSUStudent(5:28:54 PM): hey considering sellin some scoop/miniftops on 2p2, they sell this late in the day, w them starting next week, what you reckon
TT_fold (5:29:33 PM): I'm sure you'd be able to sell action just by posting your graph for SNGs and a well worded post
TT_fold (5:30:06 PM): For markup, just charge whatever you think you can get away with... 1.25:1 or so sounds good
PSUStudent(5:30:17 PM): o cool thx
PSUStudent(5:32:29 PM): sounds good, ive never sold action for such mtt packages on 2p2 so ppl. might not jump on it but worth a shot, maybe it will sell. lets see.
TT_fold (5:32:54 PM): yeah, can't hurt to try
TT_fold (5:33:10 PM): as long as you are selling for tourneys $200 and below, which are quite soft, you should have some luck
PSUStudent(5:34:00 PM): yea def. i was just planning for the miniftops and scoop low buyins lol gonna be a small br, prolly like 1k each or something, gonna sell like 55%
TT_fold signed off at 6:23:26 PM

When I saw how quickly it sold, I got excited and sold another package for medium events. It just shows how late in the day I even considered selling action. I think SCOOP was starting on 2nd May and made threads on like 25th April. If it was premeditated to just freeroll him, I would've made threads a lot earlier to make sure it sells etc.

Look I'm not saying its not a mistake. It is absolutely 100% my mistake, but you can't say it was premeditated or I planned on freerolling him when you don't know all the facts.

After I sold action and began registering for all the events, I realised I was going to be short because I didn't account for all of the money I would've to put up which was way more than I had and I should've refunded everyone's money and cancelled packages right there but I went ahead and played because I had cancelled a package earlier and wanted to sell some action on 2p2 for a couple of series like this to form some reputation. So much for that.

Anyway, I can go on and on but what I did was wrong. All the other information that comes out after that, some of it will be misunderstood and some of it will help people understand what really happened. My goal right now is to pay him back and rebuild my rep. Again, I'm sorry to TT that this happened, it never should have but I made a mistake and have to pay for it.


Quote:
Originally Posted by Protential
kid has ****ed ppl over in the past, paid back tho, was a much smaller stake.

I have recently spoke to some plo8 cash/mtt regs who both say that he begged them for money yesterday and didn't say why. (and 2 other ppl )

I've "known" him for awhile, i dont think he is a bad guy, just careless/stupid.
yea, I asked the plo8 regs and 1 2p2 reg (see below) to transfer me 1200 because TT asked me to sit at a table/show I had funds. Really really bad but it is the truth. I wasn't trying to scam them and disappear with their money. I just asked for transfer which is really bad too but that was before I confessed everything and wasn't trying to scam.

I'm not a bad guy but was careless/stupid with this situation, can't deny that. Unfortunate I ended up in this situation but it happened, I've to accept it, deal with it and move on. And again, I am truly sorry to TT for everything.

Quote:
Originally Posted by IGRINDRAZZFML
LOL you tried to scam me yesterday by asking for 1050$ for the reason you made a "bet" with a friend.. and u would send 1100$ back... you even suck at scamming people. You arent sorry at all you will probally still try to scam people like you tried on me
Like mentioned earlier, reason I asked for 1100 was he asked me to sit and I didnt have funds obv. and was panicking and doing more stupid things before I decided to make it way worse and just told him everything.

And, yes I am sorry and no I will never scam people. Wasn't going to scam you or him or anyone else. We've done trades before, hope you never felt unsafe. They all went smoothly etc.

Like I said, I made mistakes, some of it people will misunderstand but I tried to address what I was thinking. Some of it people will believe, some people won't. I have to deal with it. I've learnt from my mistake, and hopefully at some point, some of you guys will feel comfortable doing business with me.

And hopefully you can find some trust to forgive me someday. GL to you till then.

Last edited by PSUStudent; 05-19-2010 at 09:29 PM. Reason: not going to post here much until after I pay everything back
05-19-2010 , 09:34 PM
Quote:
Originally Posted by gtpitch
But in all seriousness - I realize you're pissed about the situation TT_fold - but do you think that attitude is more or less likely to get you paid?

I mean I oversee a collections department at a financial institution and if any of our collectors ever acted like that talking to a debtor they'd be gone. You don't exactly get paid like that. But its your money - your call.
This is what it comes down to. Also, if I didn't play hardball with him & then post about the situation within 24 hours of it happening, he could have scammed others. We already know he sought out multiple stakes/loans.

I decided to post about this sooner rather than later. I probably prevented someone else from getting scammed. Focus on my actions, not my words.
05-19-2010 , 10:27 PM
Ok the forum is aware, we're aware, and PSU has acknowledged he's screwed up and knows what to do. He hasn't run off so it could be worse, but seeking out new stakes doesn't thrill me.

Now here's the hard part PSU; you have to move past the promises and apologies and find a way to return the money. Hopefully it's in your character to make what sacrifices you have to in order to take care of this.
05-19-2010 , 10:36 PM
no comment as this is none of my business, just hope you work this out


Quote:
Originally Posted by TT_fold
10:52:44 PM TT_Fold: Less talk... more screenshot
however this is gold... don't *** with ronald****inKosh yo <3
05-19-2010 , 10:40 PM
Fair enough... gl getting it sorted out
05-19-2010 , 10:54 PM
Quote:
Originally Posted by TT_fold
This is what it comes down to. Also, if I didn't play hardball with him & then post about the situation within 24 hours of it happening, he could have scammed others. We already know he sought out multiple stakes/loans.

I decided to post about this sooner rather than later. I probably prevented someone else from getting scammed. Focus on my actions, not my words.
Yeah this struck me immediately, pretty classy of you to do things this way espc. when no-one would really fault you for not outing him while the possibility of payment still remains.
05-19-2010 , 10:56 PM
Quote:
Originally Posted by gtpitch
But in all seriousness - I realize you're pissed about the situation TT_fold - but do you think that attitude is more or less likely to get you paid?

I mean I oversee a collections department at a financial institution and if any of our collectors ever acted like that talking to a debtor they'd be gone. You don't exactly get paid like that. But its your money - your call.
I'm the kind of person, if I owe someone money I will pay them back. I told him whether or not he posts everything on 2p2 or regardless of how he talks to me, I owe him and he will get it back.

Quote:
Originally Posted by Bizarro Gonso
Ok the forum is aware, we're aware, and PSU has acknowledged he's screwed up and knows what to do. He hasn't run off so it could be worse, but seeking out new stakes doesn't thrill me.

Now here's the hard part PSU; you have to move past the promises and apologies and find a way to return the money. Hopefully it's in your character to make what sacrifices you have to in order to take care of this.
Yes it is in my character and will post here as more payments have been made. Have found a pvt. backer and will be grinding. Not taking any profit till he gets everything back.

Quote:
Originally Posted by LostOstrich
no comment as this is none of my business, just hope you work this out



however this is gold... don't *** with ronald****inKosh yo <3
never meant to, unfortunate it happened.

Quote:
Originally Posted by IGRINDRAZZFML
Fair enough... gl getting it sorted out
ty sir.

Now I'm telling myself, less 2p2... more play... more paying back.

And btw agree w tdomeski, just paying back doesn't solve everything, in fact solves only a small fraction but it's the next step obv.

Ok no more posts will be made by me till he gets more money. GL all.
05-19-2010 , 10:58 PM
Quote:
Originally Posted by LostOstrich
no comment as this is none of my business, just hope you work this out



however this is gold... don't *** with ronald****inKosh yo <3
this^^^^^^^^
05-19-2010 , 11:07 PM
I was one of the people PSU asked to send him 1k... seems obvious now that he was trying to fool TT_fold into thinking he had the money rather than outright trying to steal it (not that either is ok).

I dunno but fwiw (probably not much) I don't think PSU really set out to scam anyone, he just made a stupid mistake and then escalated things by trying to cover it up. That's just my opinion though, I don't really even know him to say one way or the other. Obviously TT_fold has every reason to be upset and I hope he gets his money back soon.
05-20-2010 , 12:09 AM
Anyone that says 'the kid just made a mistake' is an idiot. You don't make mistakes when you're getting backed. In fact, you should go out of your way to make sure that you don't make any mistakes.

You only get 1 chance. Once your reputation is lost, you'll never be able to fully recover from it.
05-20-2010 , 12:17 AM
so basically, someone who's allegedly good enough to beat $12/180s and get staked... is stupid enough to miscalculate how much action he sold by $1,500... and go through with it and play the MTTs anyway...

he might be remorseful and he might pay the money back, but there's a 0% chance that this was a mistake.
05-20-2010 , 12:55 AM
good, i think you should also mark him as a 'scammer' under his handle, and include this thread for future backers
05-20-2010 , 12:55 AM
as for TT...i doubt you're rich given that AIM convo...

so LOL
05-20-2010 , 01:04 AM
I don't really have any feelings on the situation in general but i do have a question:

Why did you send him 100 buyins to play the 12/180s?

I can't imagine that theres a decent reason he needs to have more than $400 in his account to comfortably grind those.
05-20-2010 , 01:26 AM
Gmo: Search RonaldKosh on Stars/RealFaithTV on FTP on OPR

Paster: He was playing 50+ games in a single day and I don't always have time to send horses money every day
05-20-2010 , 01:48 AM
Quote:
Originally Posted by BraveJayhawk
Anyone that says 'the kid just made a mistake' is an idiot. You don't make mistakes when you're getting backed. In fact, you should go out of your way to make sure that you don't make any mistakes.

You only get 1 chance. Once your reputation is lost, you'll never be able to fully recover from it.
How does the rest of your post follow from the first sentence? Yeah, he should never have done any of this in the first place and yeah, his reputation is ruined. I was just suggesting that he may not be as malicious a scumbag as some people are saying.

But thanks for calling me an idiot.
05-20-2010 , 01:52 AM
Quote:
Originally Posted by Pasterbator
I don't really have any feelings on the situation in general but i do have a question:

Why did you send him 100 buyins to play the 12/180s?

I can't imagine that theres a decent reason he needs to have more than $400 in his account to comfortably grind those.
sending new horses/people you dont trust 100 buy ins for any given limits is pretty dumb. i do understand why tt_fold did this though, cause he kind of takes a hands off approach to backing people.

i stake a bunch of 12 180 grinders and only the ones i trust a lot are able to keep 100 bi's in account.


as far as $400 being the correct amount, it can be. if people play long sessions and mass table, than 400 prolly wont be enough for 1 session. if the backer is around to reload, than 400 is fine for anyone since you can just send more if the horse needs it.
05-20-2010 , 02:03 AM
Quote:
Originally Posted by Pasterbator
I don't really have any feelings on the situation in general but i do have a question:

Why did you send him 100 buyins to play the 12/180s?

I can't imagine that theres a decent reason he needs to have more than $400 in his account to comfortably grind those.
ORLY?

Some of the best SNG grinders have thousands of games of break even stretches. To say that it would be impossible to lose 33 BI's in one day, let alone session is impossible is redic.

At first I was pissed at PSU. Now I'm more pissed at TT than PSU. PSU is on here defending himself, he isn't running, he's not SCAMMING YOU. He is completely in contact with the entire community.

He's made 16k in 33k games on sharkscope (I think his username is psustudent). Why the hell would he remain in contact with you, and try to scam you out of a measly 1k when he's profited 16?

Sure he ****ed up, I don't think it was a miscalculation, because its much easier to say that than to say what really happened to the money.

PSU good luck in getting that money back.

TT - get over yourself. YOu knew he didn't have the money but you were THE biggest **** about it. I hope you never need help from anyone else for the rest of your life because you don't deserve it.
05-20-2010 , 02:07 AM
Quote:
Originally Posted by OMG its LUCKBOX
ORLY?

Some of the best SNG grinders have thousands of games of break even stretches. To say that it would be impossible to lose 33 BI's in one day, let alone session is impossible is redic.

At first I was pissed at PSU. Now I'm more pissed at TT than PSU. PSU is on here defending himself, he isn't running, he's not SCAMMING YOU. He is completely in contact with the entire community.

He's made 16k in 33k games on sharkscope (I think his username is psustudent). Why the hell would he remain in contact with you, and try to scam you out of a measly 1k when he's profited 16?

Sure he ****ed up, I don't think it was a miscalculation, because its much easier to say that than to say what really happened to the money.

PSU good luck in getting that money back.

TT - get over yourself. YOu knew he didn't have the money but you were THE biggest **** about it. I hope you never need help from anyone else for the rest of your life because you don't deserve it.
how do you REALLY feel about it?
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