Oh my bad - i obv misinterpreted your post.

sigh duck

so what the hell is going on here? im soo confused, didnt see this til today...

OP has admitted he rolled the money

http://forum.parttimepoker.com/appea...ml#post7845281

what a joke

all he's done for over a month now is make excuses, yet every post of his says "dont worry i wont make any excuses"

sorry to everyone involved on both sites


is it true he had investors fill out tax forms? i think thats a huge deal especially to those he hasnt paid out. if people dont get paid out, tax fraud is a probably a much more serious charge than theft, in the poker scheme of things anyways

I'm an investor [Only 270 owed but still money I wouldn't mind having]. As long as he keeps **** updated and makes it right, I'm fine with the wait.

only $200 owed to me but this^^^^^

keep us updated

I could be wrong but I think just a few people gave their info and forms didn't end up being filled out. When things were getting messy/delayed people were saying to deduct 25% in lieu of filling out the forms.

pretty sure I didn't give him my tax info (at least I can't find any record of me giving it to him)

SIGH DUCK

edit: he lied to my face in stars chat 2 days ago, stay classy kid

the thread on that ptp site is really confusing, it sounds like they are trying to get him to send all the money he has left to pay them out their shares or something?? makes it sound like there getting the money first before us but its confusing as hell so i have no idea if im just reading it wrong

sigh you're probably right, someone who has accounts at both places wanna let them know that he sold action on 2p2 and that we matter?

There is almost certainly going to be a big cluser**** here with a payback plan with investors both here and PTP considering PTP will insist on holding all investor funds from there until his payback is complete. Would be wise if someone invested gets on this from the beginning before he ships anything he has left to PTP to hold...

Once im done playing i will speak to people over at PTP. Im sure there aware he owes $$ here as well and the size/scope of this rolling is obv bigger than anything im going to guess either site has seen let alone between sites :unsure:

Im sure a good solution can be found. I mean first of all we need to know what ferg has and what he plans to do - until then its all just hearsay.

From what I have read over there they are aware and it seems the 2p2 WSOP shares may even be accounted for in his PTP BAP but their formatting is weird and I don't really understand their breakdown/terminology. Although I'm sure the mods on PTP will be intent on getting everything settled up, it just seems logical that they would get everything settled on their forum before worrying about 2p2 (seems unfair but what would you do as a PTP mod?).

I agree with this in general but i hope given the scope of this incident we can all work together, all the money i have lost here is at ptp and i personally wouldnt like to be paid before/out of proportion to when you guys get paid. Thats obv just my opinion and 100% not a stance from PTP.

So did he play the events, cash and not pay? or just straight up steal the buyin money? i bought a share of him in the venetian main, now curious if he actually played it.

ray,

theres no way to find out if a player played a venetian mtt (i called to inquire this summer, they told me due to confidentiality, there was no list anywhere of players who signed up, just those that cashed)

however, it does look like he played in the wsop (at least 1 event!), according to this:

http://pokerdb.thehendonmob.com/player.php?a=r&n=105698

Took a little time to sort through this cluster**** since neither OP nor the investors seem to realize how much they owe/are owed even though it is MORE THAN A MONTH AFTER THE STAKE ENDED (lol wtf?) and this was literally sending me to the farthest reaches of tilt oblivion.

According to his PTP BAP fergwrx owned $19365 of his action, this figure includes all of the action sold to 2p2 members (linked below):

fergwrx's rail for Fergwrx 2010 WSOP BAP

Summing up the total investments by 2p2 members (NOT INCLUDING MARKUP): 6% + 5 * (5%) + 15% + 8.33% = 54.33%

.5433 * $30000 = $16299

fergwrx share = ($19365 - $16299) / $30000 = $3066 / $30000 = 10.22%

total profit to be split by investors and player = $10553

fergwrx share of profit = $10553 * 0.1022 = $1078.52

So according to fergwrx's formula of returning the original stake plus their percentage of the profits the following amounts are owed (all investors were charged 1.2:1 MU since all purchases are 5% or greater):

mobills, fitzcat, NHFunkii, jimmyc123 and tufat23 (5% each):
$1500 * 1.2 + $10553 * 0.05 = $2327.65

pokerchap (6%): $1800 * 1.2 + $10553 * 0.06 = $2793.18

leemur (8.33%): $2500 * 1.2 + 10553 * .0833 = $3879.06

George Lind III (15%) : $4500 * 1.2 + $10553 * 0.15 = $6982.95

The amount of confusion from investors in this thread is very worrisome, I realize that fergwrx had a great reputation before all of this and thus I do not blame investors for getting involved. That being said, how on Earth do any of you ever purchase an investment product that you do not understand? It's fairly obvious after the fact even though he rolled the investment fergwrx did not understand what he was offering to investors. You only have to look at a few comments of his above and his response to Funkii here to see that he really had no clue what he was offering. GL to all getting this sorted out.

/rant

ray he went deep in the 1500 you got 2nd in, was at the final 3 tables dont remember exactly how he finished

edit: 14th apparently, dunno if you played with him, when I went over to sweat you were not at the same table w/ 3 tables left iirc

edit: thanks hoodskier, so what is the total sum that he owes 2p2ers?

np, $25293.44

I posted this in the thread at PTP

that thread can be found here
http://forum.parttimepoker.com/appea...-appeal-3.html

wp cubbies

Sharkscope actually tracked the wsop this year so he played those events for sure.

This is incorrect. He also owes just a tad less than 60k for his online action. So its closer to 85k.