Quote:
Originally Posted by five4suited
dude, enough already. Do you work for the DOJ/IRS, or does a relative of yours?
Technically, no, the DOJ didn't seize anything; however, they froze many bank accounts belonging to FT or related entities and will seize them to satisfy judgment if they win their case. You know this, yet you make no effort to correct the fail you're so offended about. You make quasi-legal pronouncements in many of your posts with an air of certainty, but you've said you're not a lawyer. I'm not even sure you have any money locked up on FT. What I am sure of is that you advocate a position placing 100% of the blame for the current situation on FTP while ignoring the ambiguities of the UIGEA or questioning the motivations of the DOJ, let alone acknowledging that this case is an absurd abridgement of Americans' personal freedoms (at least in 45 of the 50 states).
Give it a rest.
I agree in the sense that the argument that the DOJ didn't seize anything and the funds are only temporarily encumbered is bunk. The DOJ took the funds. theyre going to keep them.
That said, i do not agree that the blame here rests with anyone but FTP. Whether you agree with the UIGEA, the banking laws that FTP is accused of violating, and the DOJ's enforcement actions or not, this eventuality was easily foreseeable and yes, FTP did have a duty to its players to take reasonable precautions to hold their balances in such a way as to keep them secure against any legal action.
Its possible -- stars did it. We don't know how secure the funds were when FTPdoug told us they were segregated in 2008, but we know that theyre not segregated any more and therefore less secure than they were.
The DOJ action against FTP was many things -- including unjust. But it was not unforeseeable. And it was 100% because of the way FTP held player balances that the players have no remedy against the DOJ. Th funds were in FTPs operational accounts, and they belonged to FTP. That makes the players with balances unsecured creditors, and specifically disqualifies them from filing as claimants to the money held in the civil asset forfeiture case.
You want to fight the DOJ in court - great. But youll lose for sure. WIthout even considering the issue of innocent ownership, you can't prove ownership of the seized funds at all. Can i ask how you would even go about it? Are you seriously planning to walk into federal court with a screenshot of your cashier? All you can prove is you had an FTP balance and therefore ftp owes you money.